Preferential Purchase Right definition

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.

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.

Examples of Preferential Purchase Right in a sentence

• 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”.

• 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 any third party holding a Preferential Purchase Right exercises such right prior to the Closing, Seller shall promptly give Buyer written notice of such exercise.

• In the event that within ninety (90) days after Closing any such Preferential Purchase Right is waived or consent or approval is obtained or the time for election to purchase or to deliver a consent or approval passes (such that under the applicable documents, Seller may sell the affected Third Party Interest to Buyer), then the Closing with respect to the applicable portion of the Third Party Interests will proceed promptly.

• Seller shall be entitled to all proceeds paid by a Person exercising a Preferential Purchase Right prior to the Closing.

More Definitions of Preferential Purchase Right

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

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 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 or any similar right or interest.

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

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

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.