Preferential Purchase Right definition

Preferential Purchase Right means any right or agreement that enables any Person to purchase or acquire any Asset or any interest therein or portion thereof as a result of or in connection with the execution or delivery of this Agreement or the consummation of the transactions contemplated hereby.

Preferential Purchase Right has the meaning set forth in Section 9.1.

Preferential Purchase Right means preferential purchase rights, rights of first refusal or first offer, preemptive rights, subscription rights, participation rights, purchase options, call options, warrants, share purchase agreements or any similar rights that are applicable to the sale of the Target Interests, the indirect sale, assignment or transfer of any Oil & Gas Asset or the consummation of the transactions contemplated by this Agreement and the Related Agreements.

Examples of Preferential Purchase Right in a sentence

• Seller shall use all commercially reasonable efforts, but without obligation to incur any unreasonable cost or expense, to obtain waivers of, or to comply with, any such Preferential Purchase Right or Consents prior to Closing.

• If a third-party exercises a Preferential Purchase Right of the Assets, the affected Asset shall be removed from this Agreement and the Base Purchase Price shall be adjusted by the dollar amount allocated to the affected Asset as set forth on Exhibit “C”.

• Buyer shall indemnify and save Seller harmless from and against any and all losses of Seller arising out of the value allocations provided by Buyer in respect of the Preferential Purchase Right notices to be provided pursuant to Section 9.1 (including in respect of a ROFR Action).

• Seller shall use Buyer’s good faith allocation of the Purchase Price set forth in Exhibit “A” to provide any required preferential right to purchase notifications in connection with the transactions contemplated hereby, using the form of Preferential Purchase Right Notice Letter attached as Exhibit “J”.

• If a Preferential Purchase Right is exercised after Closing, Buyer shall convey the affected Lease Assets to the holder of such right on the same terms and conditions under which Seller conveyed the Subject Assets to Buyer and shall be entitled to all amounts paid by such holder.

More Definitions of Preferential Purchase Right

Preferential Purchase Right shall have the meaning set forth in Section 4.10.

Preferential Purchase Right means any right or agreement that enables any Person to purchase or acquire any Oil and Gas Asset or any interest therein or portion thereof as a result of or in connection with the execution or delivery of this Agreement or the consummation of the transactions contemplated hereby.

Preferential Purchase Right means each preferential purchase right, right of first refusal or similar right pertaining to any Seller’s interest in any Asset that is triggered by the transactions contemplated hereby.

Preferential Purchase Right means any option, right of first refusal, or similar preferential purchase right burdening any of the Oil and Gas Interests.

Preferential Purchase Right shall have the meaning specified in Section 6.13(a).

Preferential Purchase Right means any option, right or first refusal or similar preferential purchase right burdening a Lease.

Preferential Purchase Right shall have the meaning set forth in Section 11.4(a) “Preliminary Settlement Statement” shall have the meaning set forth in Section 3.4.