America Online 2009 Annual Report Download - page 189

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owing by Time Warner to or for the credit or the account of AOL against any of and all of the amounts payable by AOL to Time Warner hereunder; provided
that Time Warner shall not be permitted to exercise any right of set-off pursuant to this paragraph unless demand for payment has been made pursuant to
paragraph (d) of this Section and the period within which AOL was required to make such payment has expired. Time Warner shall notify AOL promptly of
any such setoff and the application made by Time Warner of the proceeds thereof; provided that the failure to give such notice shall not affect the validity of
such setoff and application. The rights of Time Warner under this paragraph are in addition to other rights and remedies (including other rights of setoff)
which Time Warner may have.
(g) The provisions of this Section shall survive and remain in full force and effect regardless of the consummation of the transactions
contemplated hereby or by any of the agreements referred to herein or the termination of this Agreement or any such other agreements or any provision hereof
or thereof.
SECTION 9. Notices. (a) All notices, requests and demands to or upon AOL shall be in writing and shall be delivered by hand or overnight courier
service, mailed by certified or registered mail or sent by facsimile to it at AOL Inc., 770 Broadway, 4th Floor, New York, NY 10003, Attn: Chief Financial
Officer, with a copy to AOL Inc, 22000 AOL Way, Dulles, VA 20166, Attn: Deputy General Counsel. All notices, requests or demands to or upon Time
Warner shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile to it at One
Time Warner Center, New York, NY 10019, Attention of Chief Financial Officer (Facsimile No. (212) 484-7175), with copies to its General Counsel
(Facsimile No. (212) 484-7167) and its Treasurer (Facsimile No. (212) 484-7151). All such notices, requests or demands delivered hereunder shall be deemed
to have been given on the date of receipt.
(b) (i) Substantially concurrently with the delivery by AOL of any notice or other document to the Administrative Agent or the Lenders under the
Credit Agreement or any agreement relating thereto or, AOL shall deliver a copy of such notice or document to Time Warner.
(ii) Promptly, and in any event within one Business Day of receipt of any notice or other document sent by the Administrative Agent or a Lender
to AOL or any other Loan Party, AOL shall deliver a copy of such notice or document to Time Warner.
SECTION 10. Amendments in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise
modified except by a written instrument executed by Time Warner and AOL.
SECTION 11. No Waiver; Cumulative Remedies. Time Warner shall not by any act (except by a written instrument pursuant to Section 10 hereof),
delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any breach of any of the terms
and conditions hereof or any agreement referred to herein or contemplated hereby. No failure to exercise, nor any
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