Common use of Phase III ROFR Term Clause in Contracts

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”).

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 AHIF 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 greater 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”). Borrower shall not accept a Bona Fide Offer from any party for less than the Phase I ROFR Term Purchase Price.

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 AHIF 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”).

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”).

Phase III ROFR Term. Borrower covenants and agrees that, subject to Section 5.03 above, if Borrower 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, 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”)) as determined in Section 5.04(d) below.

Phase III ROFR Term. Borrower covenants and agrees that, subject to Section 5.03 above, if Borrower 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, 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”)) as determined in Section 5.04(d) below.