These FCC Consent Closing Condition Clauses provide varying approaches to deal with the risk of rescission or withdrawal of the consent of the Federal Communications Commission (FCC) to a merger and acquisition transaction under its jurisdiction. These clauses include practical guidance, drafting notes, and alternate clauses. The FCC must approve the transfer of an FCC license or transfer of control of any holder of an FCC license in a merger or acquisition. In most cases, an application for the FCC's approval is required and subject to a review process that includes public notice and comment. Following this process, and assuming the FCC approves the transaction, the FCC will grant the application and consent to the transaction. The closing of the transaction can occur with this grant of FCC consent. This FCC consent, however, is considered an initial action and does not become final until at least 40 days after public notice is released. If a third party files a petition for ...