Common use of Rescission by Holder Clause in Contracts

Rescission by Holder. If the entire purchase price for a -------------------- purchase by Holder in accordance with Section 8.3 results from one or more Values determined in accordance with Section 6, Holder may rescind its Exercise Notice by giving a notice of rescission to Owner. If only part of the purchase price for a purchase by Holder in accordance with Section 8.3 results from one or more Values determined in accordance with Section 6 and that part of the purchase price is greater than 15% of the entire purchase price, Holder may rescind its Exercise Notice by giving a notice of rescission to Owner. The notice of rescission must be given within ten days after Holder receives the last Appraisal Report that may be required under Section 6.3. If Holder rescinds its Exercise Notice, Holder shall pay the cost of all the appraisers.

Appears in 6 contracts

Samples: First Refusal Agreement (Discovery Investments Inc), Right of First Refusal Agreement (Discovery Investments Inc), Right of First Refusal Agreement (Discovery Investments Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!