First Right of Refusal means that a tenant or buyer has an executed option to purchase the property on the same terms as an offer from a bona fide third party.
First Right of Refusal at the end of license tenure, provided no default is made in the payments of License fees to Maha-Metro and the Licensee participates in the tender invited then and agrees to match the highest bid received.
First Right of Refusal means the same as "right of first refusal" and "right of first consideration."
Examples of First Right of Refusal in a sentence
It is expressly agreed between the Parties that the First Right of Refusal shall mean that the Concessionaire will have a right to match the financial bid of the highest ranked bidder only if the Concessionaire participates in such bidding process and its bid is within 10% of the highest ranked bidder.
A purchase shall be deemed to include the entering into of any agreement to exchange, or the obtaining of an option to purchase which is subsequently exercised, or the causing of a First Right of Refusal to be exercised, or an agreement to sell or transfer shares or assets.
Contingencies or conditions that must be disclosed include but are not limited to: the existence of equitable interest in a property; the offer to purchase is contingent upon the sale of another property or upon the satisfactory inspection(s) of the property to be purchased); or that there is an existing First Right of Refusal.
Notice of the Company's intention to purchase the shares pursuant to its First Right of Refusal shall be evidenced by a writing signed by the Company and delivered to Xxxxx prior to the end of the 30th day following the Company's receipt of the Notice of Sale.
Any termination of the Lease shall terminate all rights of Tenant with respect to the First Right of Refusal Space.
More Definitions of First Right of Refusal
First Right of Refusal is a contractual right that gives the Concessionaire at the end of the Concession Period to extend the term to another Concession Period according to the specified terms. If the Concessionaire declines the Right of Refusal, then the Authority can proceed to next bidding as specified in Clause 3.2
First Right of Refusal means that any Tenant whose tenancy is terminated due to the Landlord’s need to temporarily undertake substantial repairs, the Landlord’s decision to withdraw accommodations from the rental market pursuant to the Ellis Act (Government Code 7060-7060.7), or the Landlord’s decision to move themselves or a qualified family member into the rental unit shall have the first right of refusal to return to the unit if it should ever be returned to the market by the Landlord or successor Landlord served the notice of termination of tenancy (Section 11.100.050(c), Richmond Municipal Code).
First Right of Refusal. As long as Tenant is not in default under the terms and conditions of this Lease Agreement, Landlord agrees to grant Tenant the right to lease any space in the building which becomes available. In the event space becomes available, Landxxxx xxxees to give Tenaxx xxxtten notice of said available space. Tenant shall have two (2) days from receipt of said notice in which to exercise said right. A written notice shall be deemed delivered and received upon Landlord delivering a non-certified letter to Suite 100 at 1350 Xxxxx Xxxx Xxxx. The terms and conditions of said available space shall be based upon the same terms and conditions as the original lease agreement.
First Right of Refusal. Provided Lessee is not in default under the terms of the Lease, Lessee to have the first right of refusal for space on the second floor of Building 1700.
First Right of Refusal. Provided that Tenant is not in material breach of the Lease and no amount of Basic Rental is past due, Tenant shall have the First Right of Refusal on any space that is vacant or space as it becomes available on the 1st floor (the "First Right of Refusal Space") of Building A during the Lease Term. Tenant's Upon Tenant's receipt of written notice that Landlord has received a bona fide offer (the "Offer") for the lease of any First Right of Refusal Space by a third party, which notice shall include the principal terms of the Offer and shall be delivered by Landlord promptly following Landlord's receipt of an Offer, Tenant shall have
First Right of Refusal. Sale of Seller's interest.
(A) If Seller proposes to sell Seller's ownership interest in the Facility during the Term of this Agreement to a third party, then prior to proceeding with any such sale to the third party Seller must first offer in good faith to sell such interest in the Facility to Southwestern at such price and terms as Seller is willing to accept ("Offered Price") and Southwestern shall have sixty (60) days from receipt of such price and terms, in which to notify Seller whether it intends to purchase Seller's ownership interest in the Facility at the price quoted by Seller or such other price offered by Southwestern and set forth in the notice. If Southwestern notifies Seller within the sixty (60) day period that Southwestern will not exercise such purchase right, Southwestern's price offer is not accepted by Seller, or if Southwestern fails to provide Seller any notice of its intention within such period, then Seller may dispose of Seller's ownership interest in the Facility within two (2) years of the conclusion of such 60 day period to any other Person at such price, or at any other price in excess of the lower of Seller's Offered Price or the price offered by Southwestern to Seller. If Seller solicits bids for the purchase of Seller's ownership interest, Seller shall notify Southwestern and permit Southwestern to participate in such solicitation in accordance with the terms set forth therein for other participants. Seller's obligations and Southwestern's rights under this Section also shall apply to any sale or transfer of any stock or ownership interest in Seller or any partner or other owner of Seller. Southwestern's right of first refusal under this Section 7.4(A) shall only apply to the extent that, after such action, the Seller would not be in default under the Financing Documents with the Senior Lender or its Partnership Agreement for failing to qualify as a QF and the owner or indirect owners of the Facility and the Senior or Junior Lenders or their successors or assigns would not become subject to the Public Utility Holding Company Act of 1935 or otherwise be subject to regulation (including, without limitation, financial, organizational, or rate regulation) as an electric utility, electric corporation, electric company, public utility, utility company, public utility holding company, or associated company, subsidiary company or affiliated company, or terms of similar impact under PUHCA or any applicable federal or state law, sol...
First Right of Refusal. See Rider attached Paragraph "C" Additional Conditions: See Rider II attached Paragraphs 1 & 2