Common use of Exercise of Right of First Refusal Clause in Contracts

Exercise of Right of First Refusal. (i) Upon receipt of the Offering Member Notice, the Company and each Applicable ROFR Rightholder shall have the right to purchase the Offered Units in the following order of priority: first, the Company shall have the right to purchase all or any portion of the Offered Units in accordance with the procedures set forth in Section 11.2(d)(ii), and thereafter, the Applicable ROFR Rightholders shall have the right to purchase the Offered Units, in accordance with the procedures set forth in Section 11.2(d)(iii), to the extent the Company does not exercise its right in full. Notwithstanding the foregoing, the Company and the Applicable ROFR Rightholders may only exercise their right to purchase the Offered Units if, after giving effect to all elections made under this Section 11.2(d), no less than all of the Offered Units will be purchased by the Company and/or the Applicable ROFR Rightholders.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Calavo Growers Inc), Limited Liability Company Agreement (Calavo Growers Inc), Limited Liability Company Agreement (Calavo Growers Inc)

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Exercise of Right of First Refusal. (i) Upon receipt of the Offering Member Notice, the Company and each Applicable ROFR Rightholder shall have the right to purchase the Offered Units in the following order of priority: first, the Company shall have the right to purchase all or any portion of the Offered Units in accordance with the procedures set forth in Section 11.2(d)(ii10.03(d)(iii), and thereafter, the Applicable ROFR Rightholders Rightholder shall have the right to purchase the Offered Units, in accordance with the procedures set forth in Section 11.2(d)(iii10.03(d)(iv), to the extent the Company does not exercise its right in full. Notwithstanding the foregoing, the Company and the Applicable ROFR Rightholders Rightholder may only exercise their right to purchase the Offered Units if, after giving effect to all elections made under this Section 11.2(d10.03(d), no less than all of the Offered Units will be purchased by the Company and/or the Applicable ROFR RightholdersRightholder.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Good Hemp, Inc.)

Exercise of Right of First Refusal. (i) Upon receipt of the Offering Member Notice, the Company and each Applicable ROFR Rightholder shall have the right to purchase the Offered Units in the following order of priority: first, the Company shall have the right to purchase all or any portion of the Offered Units in accordance with the procedures set forth in Section 11.2(d)(ii10.03(d)(ii), and thereafter, the Applicable ROFR Rightholders shall have the right to purchase the Offered Units, in accordance with the procedures set forth in Section 11.2(d)(iii10.03(d)(iii), to the extent the Company does not exercise its right in full. Notwithstanding the foregoing, the Company and the Applicable ROFR Rightholders may only exercise their right to purchase the Offered Units if, after giving effect to all elections made under this Section 11.2(d10.03(d), no less than all of the Offered Units will be purchased by the Company and/or the Applicable ROFR Rightholders.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Liquid Holdings Group LLC)

Exercise of Right of First Refusal. (i) Upon receipt of the Offering Member Notice, the Company and each Applicable ROFR Rightholder shall have the right to purchase the Applicable Offered Units in the following order of priority: first, the Company shall have the right to purchase all or any portion of the Offered Units in accordance with the procedures set forth in Section 11.2(d)(ii10.03(d)(iii), and thereafter, the Applicable ROFR Rightholders shall have the right to purchase the Applicable Offered Units, in accordance with the procedures set forth in Section 11.2(d)(iii10.03(d)(iv), to the extent the Company does not exercise its right in full. Notwithstanding the foregoing, the Company and the Applicable ROFR Rightholders may only exercise their right to purchase the Offered Units if, after giving effect to all elections made under this Section 11.2(d10.03(d), no less than all of the Offered Units will be purchased by the Company and/or the Applicable ROFR Rightholders.

Appears in 1 contract

Samples: Limited Liability Company Operatng Agreement (Helpful Alliance Co)

Exercise of Right of First Refusal. (i) Upon receipt of the Offering Member Notice, the Company and each Applicable ROFR Rightholder shall have the right to purchase the Offered Units in the following order of priority: first, the Company shall have the right to purchase all or any portion of the Offered Units in accordance with the procedures set forth in Section 11.2(d)(ii)10.03(d)(iii) , and thereafter, the Applicable ROFR Rightholders shall have the right to purchase the Offered Units, in accordance with the procedures set forth in Section 11.2(d)(iii)10.03(d)(iv) , to the extent the Company does not exercise its right in full. Notwithstanding the foregoing, the Company and the Applicable ROFR Rightholders may only exercise their right to purchase the Offered Units if, after giving effect to all elections made under this Section 11.2(d)10.03(d) , no less than all of the Offered Units will be purchased by the Company and/or the Applicable ROFR Rightholders.

Appears in 1 contract

Samples: Operating Agreement (Agrify Corp)

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Exercise of Right of First Refusal. (i) Upon i)Upon receipt of the Offering Member Notice, the Company and each Applicable ROFR Rightholder shall have the right to purchase the Applicable Offered Units in the following order of priority: first, the Company shall have the right to purchase all or any portion of the Offered Units in accordance with the procedures set forth in Section 11.2(d)(iiX.3(d)(iii), and thereafter, the Applicable ROFR Rightholders shall have the right to purchase the Applicable Offered Units, in accordance with the procedures set forth in Section 11.2(d)(iiiX.3(d)(iv), to the extent the Company does not exercise its right in full. Notwithstanding the foregoing, the Company and the Applicable ROFR Rightholders may only exercise their right to purchase the Offered Units if, after giving effect to all elections made under this Section 11.2(dX.3(d), no less than all of the Offered Units will be purchased by the Company and/or the Applicable ROFR Rightholders.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Exercise of Right of First Refusal. (i) Upon receipt of the Offering Member Notice, the Company and each Applicable ROFR Rightholder Rightsholder shall have the right to purchase the Applicable Offered Units in the following order of priority: first, the Company shall have the right to purchase all or any portion of the Offered Units in accordance with the procedures set forth in Section 11.2(d)(ii10.03(d)(ii), and thereafter, the Applicable ROFR Rightholders Rightsholders shall have the right to purchase the Applicable Offered Units, in accordance with the procedures set forth in Section 11.2(d)(iii10.03(d)(iv), to the extent the Company does not exercise its right in full. Notwithstanding the foregoing, the Company and the Applicable ROFR Rightholders Rightsholders may only exercise their right to purchase the Offered Units if, after giving effect to all elections made under this Section 11.2(d10.03(d), no less than all of the Offered Units will be purchased by the Company and/or the Applicable ROFR RightholdersRightsholders.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ascend Wellness Holdings, LLC)

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