Examples of ROFO Option in a sentence
Provided that the City has duly exercised the ROFO Option by timely delivery of the Option Notice, the Parties shall have until August 1st of the Option Year to negotiate and agree to terms of a contract for the City to purchase the ROFO Parcel.
Effective on and after the date of this Amendment, Tenant shall have no ROFO Option or any other like option unless expressly set forth herein.
After expiration of the City’s Exclusive Option, and provided that the City has not failed to exercise its ROFO Option under Sections 44.c., d., or e.
If, during the City’s Exclusive Option, the City (i) fails to timely deliver the Option Notice, or (ii) declines to exercise the ROFO Option, then the City’s ROFO Option shall be deemed withdrawn and shall no longer apply to the applicable ROFO Parcel.
The ROFO Option shall be exercisable by Investor by delivering written notice of the exercise thereof prior to the expiration of the Exercise Period.
If the acquisition of the ROFO Parcel appears as a ballot measure in a City of Boulder election, and the voters fail to approve the measure, then the City’s ROFO Option shall be deemed withdrawn and shall no longer apply to the applicable ROFO Parcel.
Provided University has determined in its sole discretion to offer City the ROFO Option and, if applicable, prior to entering negotiations with any third party, the University shall deliver written notice of the ROFO Option no later than the next occurring April 1st (the “ROFO Notice”).
The ROFO Option of Tenant hereunder with respect to each respective ROFO Space shall terminate and expire on the earlier to occur of (a) as provided in Section 27.1 above, Tenant’s failure to deliver an Acceptance Notice within the ten (10) day period of time set forth above, or (b) as provided in Section 27.3 above, the date Landlord would have provided Tenant a ROFO Notice if Tenant had not been in violation of one or more of the conditions set forth in Section 27.3 above.
Tenant shall have no right to exercise any ROFO Option or to lease any ROFO Space, and Landlord shall have no obligation to deliver a ROFO Notice, if an Event of Default exists on the date the respective space becomes available for leasing or on the date of the Acceptance Notice.
If the closing of City’s acquisition of the ROFO Parcel does not occur on or before January 31st of the calendar year immediately following the Option Year, then the City’s ROFO Option shall be deemed withdrawn and shall no longer apply to the applicable ROFO Parcel, unless otherwise agreed by the Parties in writing.