Exercise of Right of First Offer. (i) The Sponsor shall have a period of five (5) Business Days following its receipt of the Business Combination LOI (the “Initial Offer Period”) to deliver a bona fide binding written offer (the “ROFO Offer Notice”) to the Company (the “Sponsor Offer”) to purchase such New Equity Securities on the terms specified in the ROFO Offer Notice (the “Sponsor Offer Terms”). If the Sponsor does not deliver an ROFO Offer Notice to the Company during the Initial Offer Period, the provisions of this paragraph 12 shall be deemed terminated and the Right of First Offer shall be deemed expired. If the Sponsor delivers a ROFO Offer Notice to the Company during the ROFO Notice Period, the Company may thereafter determine, within five (5) Business Days following its receipt of the ROFO Offer Notice, in its sole discretion, to (A) accept the ROFO Offer by delivery of a written notice to the Sponsor (an “Acceptance Notice”) or (B) reject the ROFO Offer.
Appears in 7 contracts
Samples: Letter Agreement (Swiftmerge Acquisition Corp.), Letter Agreement (Swiftmerge Acquisition Corp.), Letter Agreement (Swiftmerge Acquisition Corp.)
