Common use of Waiver of Right of First Refusal Clause in Contracts

Waiver of Right of First Refusal. Borrower (on behalf of itself and its Affiliates) hereby irrevocably waives any right of first refusal it may have to purchase Timeshare Inventory (including without limitation the right of first refusal contained in the Timeshare Declaration in favor of Borrower, as declarant) with respect to any Timeshare Inventory acquired by Lender, or its nominee or assignee, through the exercise or enforcement of the Lender’s rights related to the Collateral under this Agreement or the other Acquisition Loan Documents. Borrower agrees that in the event that Lender, or its nominee or assignee, acquires title to any such Timeshare Inventory under the circumstances described in the foregoing sentence, such Timeshare Inventory may be assigned, transferred or sold free and clear of any right of first refusal in favor of Borrower. 

Waiver of Right of First Refusal. Borrower (on behalf of itself and its Affiliates) hereby irrevocably waives any right of first refusal it may have to purchase Timeshare Inventory Interests (including without limitation the right of first refusal contained in the any Timeshare Declaration in favor of Borrower, as declarant) with respect to any Timeshare Inventory Interests acquired by Lender, or its nominee or assignee, through the exercise or enforcement of the Lender’s rights related to the Collateral under this Agreement or the other Acquisition Loan Documents. Borrower agrees that in the event that Lender, or its nominee or assignee, acquires title to any such Timeshare Inventory Interests under the circumstances described in the foregoing sentence, such Timeshare Inventory Interests may be assigned, transferred or sold free and clear of any right of first refusal in favor of Borrower. 

Waiver of Right of First Refusal. Borrower (on behalf of itself and its Affiliates) hereby irrevocably waives any right of first refusal it may have to purchase Timeshare Inventory Interests (including without limitation the right of first refusal contained in the any Timeshare Declaration in favor of Borrower, as declarant) with respect to any Timeshare Inventory Interests acquired by Lender, or its nominee or assignee, through the exercise or enforcement of the Lender’s rights related to the Collateral under this Agreement or the other Acquisition Loan Documents. Borrower agrees that in the event that Lender, or its nominee or assignee, acquires title to any such Timeshare Inventory Interests under the circumstances described in the foregoing sentence, such Timeshare Inventory Interests may be assigned, transferred or sold free and clear of any right of first refusal in favor of Borrower. .