Phase III ROFR Term Sample Clauses

Phase III ROFR Term. Borrower covenants and agrees that, subject to Section 5.03 above, if Borrower receives a Bona Fide Offer after the Phase II ROFR Term has expired and before the conclusion of the Affordability Compliance Period (the “Phase III ROFR Term”), which offer the Borrower desires to accept, the County shall have a right of first refusal to purchase the Property (the “Phase III Refusal Right”) pursuant to the terms and conditions set forth in this Section 5.04, at the lesser of the fair market value price, as determined in Section 5.04(d) below, or the Bona Fide Offer proposed purchase price (the “Phase III ROFR Term Purchase Price”).
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Phase III ROFR Term. Borrower covenants and agrees that, subject to Section 5.03 above, if Borrower receives a Bona Fide Offer to purchase the Property from a prospective purchaser other than ARHC or an Affiliate of ARHC after the Phase II ROFR Term has expired and before the conclusion of the Affordability Compliance Period (the “Phase III ROFR Term”), which offer the Borrower desires to accept, the County shall have a right of first refusal to purchase the Property (the “Phase III Refusal Right”) pursuant to the terms and conditions set forth in this Section 5.04, at the lesser of the fair market value price, as determined in Section 5.04(d) below, or the Bona Fide Offer proposed purchase price which the Borrower desires to accept (the “Phase III ROFR Term Purchase Price”).
Sample 1
Phase III ROFR Term. Borrower covenants and agrees that, subject to Section 5.03 above, if Xxxxxxxx receives a Bona Fide Offer from a purchaser that is not affiliated with WHDC after the Phase II ROFR Term has expired and before the conclusion of the Affordability Compliance Period (the “Phase III ROFR Term”), which offer the Borrower desires to accept, the County shall have a right of first refusal to purchase the Property (the “Phase III Refusal Right”) pursuant to the terms and conditions set forth in this Section 5.04 at the fair market value price (the “Phase III ROFR Term Purchase Price”) as determined in Section 5.04(d) below.
Sample 1
Phase III ROFR Term. Borrower covenants and agrees that, subject to Section 5.03 above, if Borrower receives a Bona Fide Offer after the Phase II ROFR Term has expired and before the conclusion of the Affordability Compliance Period (the “Phase III ROFR Term”), which offer the Borrower desires to accept, the County Board shall have a right of first refusal to purchase the Property (the “Phase III Refusal Right”), pursuant to the terms and conditions set forth in this Section 5.04, at the fair market value price (the “Phase III ROFR Term Purchase Price”) as determined in Section 5.04(d) below, provided, however, that in no event shall the Phase III ROFR Term Purchase Price of the Property be less than the Phase II ROFR Term Purchase Price to the extent required by law to maintain the tax benefits afforded to the Investor Limited Partners or any future investors under Section 42 of the Code.
Sample 1
Phase III ROFR Term. Borrower covenants and agrees that, subject to Section 5.03 above and the RHFFI ROFR Agreement, if Borrower receives a Bona Fide Offer to purchase the Property from a third party prospective purchaser after the Phase II ROFR Term has expired and before the conclusion of the Affordability Compliance Period (the “Phase III ROFR Term”), which Bona Fide Offer the Borrower desires to accept (with the consent of the Borrower’s Investor Limited Partner to the extent required under the Borrower’s then-governing organizational documents), the County shall have a right of first refusal to purchase the Property (the “Phase III Refusal Right”) pursuant to the terms and conditions set forth in this Section 5.04, at the lesser of the fair market value price, as determined in Section 5.04(d) below, or the Bona Fide Offer proposed purchase price which the Borrower desires to accept (the “Phase III ROFR Term Purchase Price”).
Sample 1

Related to Phase III ROFR Term

  • Initial Contract Term The Initial Contract Term shall be for two years. The Initial Contract Term shall begin on October 1, 2021, or on the last date the Contract is signed by all Parties, whichever is later. The Contract shall expire on October 1, 2023, unless terminated earlier in accordance with the Special Contract Conditions or Additional Special Contract Conditions.

  • Development Period The Contractor may commence pre-construction activities like utility shifting, boundary wall construction or any other activity assigned to the Contractor by the Authority to enable construction of the Project Highway immediately after signing of the Agreement, to the extent that such work is ready for execution. The Parties agree that these works may be taken up and completed to the extent feasible by the Contractor, before declaration of the Appointed Date, but no claim against the Authority for delay shall survive during this period and that the undertaking of these works by the Contractor shall not count towards the Scheduled Construction Period of the project which starts counting only from the Appointed Date. No construction activity of the Project Highway shall be undertaken during the development period.

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

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