Common use of Right To Consummate Third-Party Sale Clause in Contracts

Right To Consummate Third-Party Sale. If no Acceptance Notice ------------------------------------ relating to the proposed Third-Party Sale is delivered to the Offering Stockholder prior to the expiration of the ROFO Acceptance Period, or an Acceptance Notice is so delivered to the Offering Stockholder but the ROFO Closing fails to occur prior to the expiration of the ROFO Closing Period (unless the Purchasing Stockholder was ready, willing and able prior to the expiration of the ROFO Closing Period to consummate the transactions to be consummated by the Purchasing Stockholder at the ROFO Closing), the Offering Stockholder may (without affecting its rights, if any, arising out of such failure) consummate the Third Party Sale, but only (A) during the 60 calendar day period immediately following the expiration of the ROFO Acceptance Period (in the event that no Acceptance Notice was timely delivered to the Offering Stockholder) or the 60 calendar day period immediately following the expiration of the ROFO Closing Period (in the event that an Acceptance Notice was timely delivered to the Offering Stockholder but the ROFO Closing failed timely to occur), (B) at a price at least equal to 95% of the Offer Price, and (C) upon other terms not materially less favorable to the Offering Stockholder than those set forth in the Offer Notice.

Appears in 1 contract

Samples: Stockholders' Agreement (Homegate Hospitality Inc)

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Right To Consummate Third-Party Sale. If Subject to the provisions of Section 2.4 below, if no Acceptance Notice ------------------------------------ relating to the proposed Third-Third- Party Sale is delivered to the Offering Stockholder prior to the expiration of the ROFO Acceptance Period, or an Acceptance Notice is so delivered to the Offering Stockholder but the ROFO Closing fails to occur prior to the expiration of the ROFO Closing Period (unless the Purchasing Stockholder was ready, willing and able prior to the expiration of the ROFO Closing Period to consummate the transactions to be consummated by the Purchasing Stockholder at the ROFO Closing), the Offering Stockholder may (without affecting its rights, if any, arising out of such failure) consummate the Third Third-Party Sale, but only (Ai) during the 60 180 calendar day period immediately following the expiration of the ROFO Acceptance Period (in the event that no Acceptance Notice was timely delivered to the Offering Stockholder) or the 60 180 calendar day period immediately following the expiration of the ROFO Closing Period (in the event that an Acceptance Notice was timely delivered to the Offering Stockholder but the ROFO Closing failed timely to occur), (Bii) at a price at least equal to 95% of the Offer Price, and (Ciii) upon other terms not materially less favorable to the Offering Stockholder than those set forth in the Offer Notice.

Appears in 1 contract

Samples: Stockholders Agreement (Tichenor McHenry T)

Right To Consummate Third-Party Sale. If Subject to the provisions of Section 2.4 below, if no Acceptance Notice ------------------------------------ relating to the proposed Third-Party Sale is delivered to the Offering Stockholder prior to the expiration of the ROFO Acceptance Period, or an Acceptance Notice is so delivered to the Offering Stockholder but the ROFO Closing fails to occur prior to the expiration of the ROFO Closing Period (unless the Purchasing Stockholder was ready, willing and able prior to the expiration of the ROFO Closing Period to consummate the transactions to be consummated by the Purchasing Stockholder at the ROFO Closing), the Offering Stockholder may (without affecting its rights, if any, arising out of such failure) consummate the Third Third-Party Sale, but only (Ai) during the 60 180 calendar day period immediately following the expiration of the ROFO Acceptance Period (in the event that no Acceptance Notice was timely delivered to the Offering Stockholder) or the 60 180 calendar day period immediately following the expiration of the ROFO Closing Period (in the event that an Acceptance Notice was timely delivered to the Offering Stockholder but the ROFO Closing failed timely to occur), (Bii) at a price at least equal to 95% of the Offer Price, and (Ciii) upon other terms not materially less favorable to the Offering Stockholder than those set forth in the Offer Notice.

Appears in 1 contract

Samples: Stockholders Agreement (Tichenor McHenry T)

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Right To Consummate Third-Party Sale. If no Acceptance Notice ------------------------------------ relating to the proposed Third-Party Sale is delivered to the Offering Stockholder prior to the expiration of the ROFO Acceptance Period, or an Acceptance Notice is so delivered to the Offering Stockholder but the ROFO Closing fails to occur prior to the expiration of the ROFO Closing Period (unless the Purchasing Stockholder was ready, willing and able prior to the expiration of the ROFO Closing Period to consummate the transactions to be consummated by the Purchasing Stockholder at the ROFO Closing), the Offering Stockholder may (without affecting its rights, if any, arising out of such failure) consummate the Third Third- Party Sale, but only (A) during the 60 calendar day period immediately following the expiration of the ROFO Acceptance Period (in the event that no Acceptance Notice was timely delivered to the Offering Stockholder) or the 60 calendar day period immediately following the expiration of the ROFO Closing Period (in the event that an Acceptance Notice was timely delivered to the Offering Stockholder but the ROFO Closing failed timely to occur), (B) at a price at least equal to 95% of the Offer Price, and (C) upon other terms not materially less favorable to the Offering Stockholder than those set forth in the Offer Notice.

Appears in 1 contract

Samples: Stockholders' Agreement (Wyndham Hotel Corp)

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