Common use of Preferential Purchase Rights Clause in Contracts

Preferential Purchase Rights. (1) If any preferential right to purchase any portion of the Assets is exercised and the sale to such preferential right holder closes prior to the Closing Date, then that portion of the Assets affected by such preferential right to purchase shall be excluded from the Assets at Closing and deemed to constitute an Excluded Asset, and the Cash Consideration shall be adjusted downward by an amount equal to the Allocated Value of such affected Assets, subject to the limitation in Section 4.5(c).

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Earthstone Energy Inc), Purchase and Sale Agreement (Earthstone Energy Inc), Purchase and Sale Agreement (Earthstone Energy Inc)

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Preferential Purchase Rights. (1) . If any preferential right to purchase any portion of the Assets is exercised and the sale to such preferential right holder closes consummated prior to the Closing DateClosing, then that portion of the Assets affected by such preferential purchase right to purchase shall be excluded from the Assets at Closing and deemed to constitute an Excluded Asset, and the Cash Consideration Purchase Price shall be adjusted downward by an amount equal to the Allocated Value of such affected Assets, subject Assets without the requirement for Buyer to the limitation in Section 4.5(cgive notice (with such adjustment being an “Exclusion Adjustment”).

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Arete Industries Inc), Purchase and Sale Agreement (Arete Industries Inc)

Preferential Purchase Rights. (1) If any preferential right to purchase any portion of the Assets is exercised and the sale to such preferential right holder closes prior to the Closing Date, then that portion of the Assets affected by such preferential right to purchase shall be excluded from the Assets at Closing and deemed to constitute an Excluded Asset, and the Cash Consideration shall be adjusted downward by an amount equal to the Allocated Value of such affected Assets, subject to the limitation in Section 4.5(c).. {JK01396073.28 }

Appears in 1 contract

Samples: Purchase and Sale Agreement (Earthstone Energy Inc)

Preferential Purchase Rights. (1) If any preferential right to purchase any portion of the Assets is exercised and the sale to such preferential right holder closes prior to the Closing Date, then that portion of the Assets affected by such preferential right to purchase shall be excluded from the Assets at Closing and deemed to constitute an Excluded Asset, and the Cash Consideration Base Purchase Price shall be adjusted downward by an amount equal to the Allocated Value of such affected AssetsAssets (the aggregate value of all such adjustments, subject to the limitation in Section 4.5(c“Exclusion Adjustment”).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Centennial Resource Development, Inc.)

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Preferential Purchase Rights. (1) If any preferential right to purchase any portion of the Assets Properties is exercised and the sale to such preferential right holder closes prior to the Closing Date, then that portion of the Assets Properties affected by such preferential purchase right to purchase shall be excluded from the Assets at Closing and deemed to constitute an Excluded Asset, Properties and the Cash Consideration Purchase Price shall be adjusted downward by an amount equal to the Allocated Value of such affected Assets, subject to the limitation in Section 4.5(c)Properties.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Dune Energy Inc)

Preferential Purchase Rights. (1) . If any preferential right to purchase any portion of the Assets is exercised and the sale to such preferential right holder closes consummated prior to the Closing Date, then that portion of the Assets affected by such preferential purchase right to purchase shall be excluded from the Assets at Closing and deemed to constitute an Excluded Asset, and the Cash Consideration Purchase Price shall be adjusted downward by an amount equal to the Allocated Value of such affected Assets, subject Assets without the requirement for SCE to the limitation in Section 4.5(cgive notice (with such adjustment being an “Exclusion Adjustment”).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Storm Cat Energy CORP)

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