Examples of ROFR Acceptance Period in a sentence
Article 6.3 above, if any proposed Transfer to the Proposed Transferee is not consummated by the Selling Shareholder(s) within a period of 90 (ninety) days from the expiry of the ROFR Acceptance Period, the Selling Shareholder(s) may sell any of their Shares only after complying afresh with the requirements laid down under Articles 0 to 6.3.
Such acceptance shall be made by delivering a written notice to the Transferring Stockholder and each of the ROFR Stockholders within the Initial ROFR Acceptance Period.
Such acceptance shall be made by delivering a written notice to the selling Member and the Company within the ROFR Acceptance Period stating that it elects to exercise its right of first refusal and, if applicable, providing the identity of any Person that the non-transferring Member designates as the purchaser and the amount of the Membership Interest it or its designee will purchase or acquire.
The ROFR Acceptance Period shall be extended to the date that is five Business Days from the date on which the non-cash consideration value is settled or agreed, if such date is after the end of the original ROFR Acceptance Period.
Annotation Drawn from South Africa’s mining law (2002), this provision empowers the regulating authority to terminate or suspend the mineral right in the event that the rights holder fails to comply with any requirement under the mining law, including environmental obligations.
In the event the ROFR Offerees elect to purchase all or a portion of the ROFR Units, the parties shall use reasonable efforts to effect such purchase at the price and on the terms and conditions set forth in the ROFR Notice as soon as practicable, but in any event within forty-five (45) days after expiration of the ROFR Acceptance Period.
If the Company does not receive a ROFR Acceptance within the ROFR Acceptance Period, then the Company may grant such sublicense to the sublicensee of is choice on the same terms as those offered to Xethanol; provided, that if no such sublicense is granted within one hundred twenty (120) days of the expiration of the ROFR Acceptance Period, then any proposed sublicense shall be again subject to the rights of Xethanol (including the notice rights) contained in this Section 3.6.
In the event that the ROFR Offerees do not notify the Transferring Member before expiration of the ROFR Acceptance Period that the ROFR Offerees elect to purchase all or any portion of the ROFR Units or do not deliver a ROFR Acceptance Notice in writing before expiration of the ROFR Acceptance Period, then the ROFR Offerees shall be deemed to have elected not to purchase any of the ROFR Units.
If the Non-Selling Partners, or any of them, give ROFR Acceptance Notices within the ROFR Acceptance Period confirming their agreement to purchase, in aggregate, all of the Selling Partner’s Units, the sale of the Selling Partner’s Units to such Non-Selling Partners shall be completed within twenty (20) Business Days of the expiry of the ROFR Acceptance Period.
The sale and transfer of such ROFR Securities shall, subject to satisfaction of such conditions, be completed on the date notified to the ROFR Benefitting Shareholders by the Initiating ROFR Seller on at least 3 Business Days’ notice (and such date shall be within 30 Business Days of the expiry of the ROFR Acceptance Period or, if longer, within 10 Business Days of the satisfaction of any mandatory and suspensory anti-trust or regulatory conditions).