Common use of Right of Offer Clause in Contracts

Right of Offer. (a) If Xxxxx GP or a HFC Group Member becomes aware of an opportunity to acquire Permitted Assets with a fair market value (as determined in good faith by the Board of Directors of HFC) equal to or greater than $5 million, then, subject to Section 2.3(c), as soon as practicable, Xxxxx GP or such HFC Group Member shall notify HEP of such opportunity and deliver to HEP, or provide HEP access to all information prepared by or on behalf of, or material information submitted or delivered to, Xxxxx GP or such HFC Group Member relating to such potential transaction. As soon as practicable, but in any event within 30 days after receipt of such notification and information, HEP shall notify Xxxxx GP or the HFC Group Member that it has either elected:

Right of Offer. (a) If Xxxxx GP or a HFC HFS Group Member becomes aware of an opportunity to acquire Permitted Assets with a fair market value (as determined in good faith by the Board of Directors of HFCXX Xxxxxxxx) equal to or greater than $5 million, then, subject to Section 2.3(c), as soon as practicable, Xxxxx GP or such HFC HFS Group Member shall notify HEP of such opportunity and deliver to HEP, or provide HEP access to all information prepared by or on behalf of, or material information submitted or delivered to, Xxxxx GP or such HFC HFS Group Member relating to such potential transaction. As soon as practicable, but in any event within 30 days after receipt of such notification and information, HEP shall notify Xxxxx GP or the HFC HFS Group Member that it has either elected: