Examples of ROFO Purchase Notice in a sentence
The closing of the purchase of such ROFO Shares by the Company and/or any such designee shall take place no later than five (5) business days after delivery of the ROFO Purchase Notice, with payment for such ROFO Shares being made concurrently with such purchase to the OW Group’s account designated in the ROFO Sale Notice.
For avoidance of doubt, Landlord shall not Take to Market or accept an Unsolicited Offer before Substantial Completion and before submittal of a ROFO Purchase Notice to Tenant.
If the Company does not timely deliver a ROFO Purchase Notice it shall be deemed to have waived all of its rights with respect to the offer contained in the ROFO Sale Notice.
For example, if the Change in Control ROFO Purchase Notice references a proposed transaction whereby a fifty percent (50%) interest in Landlord is to be conveyed for consideration of Twenty-Five Million Dollars ($25,000,000), the Purchase Price for the Offered Property under the ROFO/ROFR Purchase Agreement would be Fifty Million Dollars ($50,000,000).
A Change in Control ROFO Purchase Notice will be deemed a ROFO Purchase Notice and Sections 5, 6 and 7 of this Exhibit G apply.
If the Company wishes to purchase (and/or cause a designee to purchase) all or a portion of the ROFO Shares at the ROFO Sale Price, the Company shall deliver a notice (a “ ROFO Purchase Notice ”) to the OW Group no later 8:00 a.m. New York time on the business day that the OW Group proposes to effect such 144 Sale specifying the number of ROFO Shares it wishes to purchase (and/or cause a designee to purchase) from the OW Group.
If, in the Take to Market scenario, Tenant elects not to purchase the Offered Property or fails to exercise its ROFO, and Landlord proceeds to take the Offered Property to market, Tenant will have a ROFR to purchase the Offered Property on the terms of a bona fide offer from an unrelated purchaser (the “Solicited Offeror”) if such offer contains a purchase price that is more than five percent (5%) lower than that which was set forth in the ROFO Purchase Notice.
At the time Landlord delivers a Change in Control ROFO Purchase Notice, Landlord will also deliver to Tenant a ROFO/ROFR Purchase Agreement executed by Landlord for Tenant’s potential purchase of the Premises, with the purchase price determined by dividing the purchase price shown on the Change in Control ROFO Purchase Notice by the percentage interest in Landlord proposed to be conveyed.
Tenant will have thirty (30) days after receipt of a complete and correct copy of the ROFO Purchase Notice and the ROFO/ROFR Purchase Agreement (the “ROFO Exercise Period”) to exercise its ROFO to purchase the Offered Property for the economic terms set forth in the ROFO Purchase Notice.
Landlord shall not submit a ROFO Purchase Notice before Substantial Completion (defined in the Work Letter, Addendum [X]) under either the Take to Market or Unsolicited Offeror scenario.