Tribune Company, As Agent of and Successor By Merger to the Former the Times Mirror Company, Itself and its Consolidated Subsidiaries - Page 78

                                       - 42 -                                         
               ($ Millions)                                                           
               Company Sold    Entity Receiving Funds Amount (Gross)                  
               Shepards       Corporate                     $275                      
               Bender         Liberty Bell I L.L.C.         1,375                     
               Mosby          Liberty Bell II L.L.C.        415                       
                                                Total:     $2,065                     
               Immediately we will utilize the funds to pay necessary                 
               transaction expenses, pay down short-term corporate                    
               debt, and then invest the remaining funds under our                    
               short-term investment policy * * *.  This policy                       
               ensures preservation of capital and maintenance of                     
               liquidity through prudent standards for credit quality,                
               instrument type and overall portfolio limitations.  At                 
               the same time, it provides for sufficient flexibility                  
               to allow us to search for yield advantages where                       
               possible.  The following table shows the net investible                
               [sic] funds that should be available to deploy in                      
               short-term instruments:                                                
               ($ Millions)                                                           
                                       Estimated Cash                                 
                                        Transaction Short-Term                        
                                         Fees and     Debt                            
               Funds Location Gross FundsExpenses   Reduction Net Funds               
               Corporate       $275         --       ($275)      $0                   
               Liberty Bell I  1,375       (64)         --     1,311                  
               Liberty Bell II 415         (22)         --     393                    
                                                        Total: $1,704                 
               W.  Execution of the LBI Limited Liability Company Agreement           
          (the management authority)                                                  
               On July 28, 1998, representatives of Times Mirror, Lexis,              
          and MB Parent executed an agreement entitled “Limited Liability             
          Company Agreement of Liberty Bell I, LLC” (LBI LLC agreement).              
          The terms of the LBI LLC agreement included the following:                  
                         This Limited Liability Company Agreement                     
               (together with the schedules attached hereto, this                     





Page:  Previous  32  33  34  35  36  37  38  39  40  41  42  43  44  45  46  47  48  49  50  51  Next

Last modified: May 25, 2011