Offering Member Notice definition
Examples of Offering Member Notice in a sentence
Subject to Section 10.3(d), if the other Member does not deliver a ROFR Acceptance during the ROFR Notice Period, it shall be deemed to have waived all of its rights to purchase the Offered Interests on the terms of the Offering Member Notice.
If the ROFR Rightholder does not deliver a ROFR Acceptance in accordance with this Section 10.3, then the Offering Member may Transfer all of the Offered Interests to the Proposed Purchaser on terms and conditions no more favorable than those set forth in the Offering Member Notice.
Upon receipt of the Offering Member Notice, the ROFR Rightholder shall have sixty (60) days (the “ROFR Notice Period”) to elect to purchase all (and not less than all) of the Offered Interests by delivering a written notice (a “ROFR Acceptance”) to the Offering Member and the Company stating that it elects to purchase such Offered Interests on the terms and the timing specified in the Offering Member Notice.