Right of First Refusal or Option to Purchase. Subject to Section IX.A., the parties agree as follows:
Right of First Refusal or Option to Purchase. HMA has entered into this Agreement to secure market representation at the location(s) identified herein. The vitality of HMA's authorized Dealer network and the effective sale and servicing of Hyundai Products nationwide is dependent upon the continued representation of HMA by its authorized Dealers at their approved location(s). Accordingly, DEALER agrees that in the event that HMA refuses to approve a transfer or sale of any ownership interest in the dealership, pursuant to paragraph 5, HMA will have the right of first refusal or an option to purchase the dealership assets, including any leasehold interest or realty, as provided herein.
Right of First Refusal or Option to Purchase. Dealer hereby grants to Company the right to acquire all or substantially all of Dealer's assets used in the operation of its HUMMER(R) dealership. This right will become effective upon (1) Dealer submitting to Company a proposal for a change in Dealer Operator or (2) an unauthorized change in Dealer Operator or (3) Dealer submitting to Company a proposal for change in majority ownership or control or (4) an unauthorized change in ownership or (5) any attempt by Dealer to transfer or assign this Dealer Agreement or (6) Dealer's agreement to transfer all or substantially all of the assets used in its HUMMER(R) operations or (7) the issuance of either party to this Dealer Agreement of a termination notice pursuant to Section 24. Company may transfer or assign its rights pursuant to this Section 22.F to any party, provided that Company guarantees the full payment of the purchase price by the assignee.
Right of First Refusal or Option to Purchase. (1) Creation and Coverage If a proposal is submitted by Dealer under Article 00X, Xxxxxxxxxx has a right of first refusal or option to purchase the dealership assets under this Article 18C. If Franchisor exercises its right or option, it will do so in the written decision on Dealer's proposal. Franchisor's right or option may be assigned to any party and Franchisor will guarantee the full payment of the purchase price by the assignee. Franchisor has the right to disclose the terms of the buy/sell agreement to any potential assignee. If Dealer has entered into a bona fide written buy/sell agreement for its dealership business or assets, Franchisor's right under this Section is a right of first refusal, enabling Franchisor to assume the buyer's rights and obligations under such buy/sell agreement and cancel this Agreement and all rights granted Dealer. In the absence of a bona fide written buy/sell agreement, Franchisor has the option to purchase the principal assets of Dealer utilized in the dealership business, other than real property, and cancel this agreement and all rights granted Dealer. Real property will be included only if the Franchisor and Dealer agree. If Franchisor exercises its right or option, the fee described in Article 18B(2) will be refunded if the person proposed by Dealer as replacement dealer operator or owner satisfies the Dealer Selection Criteria. Franchisor's rights under this Article 18C will be binding on and enforceable against any assignee or successor in interest of Dealer or purchaser of Dealer's assets.
Right of First Refusal or Option to Purchase. 1. RIGHTS GRANTED If a proposal to sell the dealership's assets or transfer its ownership is submitted by DEALER to DISTRIBUTOR, or in the event of the death of the majority owner of DEALER, DISTRIBUTOR has a right of first refusal or option to purchase the dealership assets or stock, including any leasehold interest or realty. DISTRIBUTOR'S exercise of its right or option under this Section supercedes DEALER'S right to transfer its interest in, or ownership of, the dealership. DISTRIBUTOR'S right or option may be assigned by it to any third party and DISTRIBUTOR hereby guarantees the full payment to DEALER of the purchase price by such assignee. DISTRIBUTOR may disclose the terms of any pending buy/sell agreement and any other relevant dealership performance information to any potential assignee. DISTRIBUTOR'S rights under this Section will be binding on and enforceable against any assignee or successor in interest of DEALER or purchaser of DEALER'S assets.
Right of First Refusal or Option to Purchase. (1) Creation and Coverage If a proposal is submitted by Retailer under Article 1913, DMW has a right of first refusal or option to purchase the Retailer assets under this Article 19C. If DMW exercises its right or option, it will do so in the written decision on Retailer's proposal. DMW's right or option may be assigned to any party and DMW will guarantee the full payment of the purchase price by the assignee. DMW has the right to disclose the terms of the buy/sell agreement to any potential assignee. If Retailer has entered into a bona fide written buy/sell agreement for its Retailer business or assets, DMW's right under this Article is a right of first refusal enabling DMW to assume the buyer's right and obligations under such buy/sell agreement and cancel this Agreement and all rights granted Retailer. In the absence of a bona fide written buy/sell agreement, DMW has the option to purchase the principal assets of Retailer utilized in the Retailer business, other than real property, and cancel this agreement and all rights granted Retailer. Real property will be included only if DMW and Retailer agree. If DMW exercises its right or option, the fee described in Article 1913(2) will be refunded if the person proposed by Retailer as replacement Retailer operator or owner satisfies the Retailer Selection Criteria. DMW's rights under this Article 19C will be binding on and enforceable against any assignee or successor in interest of Retailer or purchaser of Retailer's assets. If DMW declines to exercise its right of first refusal or option to purchase under this Article 19C, DMW retains its right, in accordance with Article 1913, to decline the proposed change in ownership or transfer of the Retailer's business, and to terminate this Agreement in accordance with Article 2OA(4) in the event of a change or transfer without its approval.
Right of First Refusal or Option to Purchase. Subject to Article 15 hereof (regarding the Right of Succession) and without limiting the provisions of Article 5.2 of this Agreement in any way, should Dealer or its owners propose to sell or transfer Dealer's principal assets, or any majority ownership interests (whether equitable or voting) in Dealer, whether by transfer of any equity interests, grant of voting rights, merger, division, recapitalization, reorganization, sale of all or substantially all assets used in its Aston Xxxxxx Operations or otherwise (any of the foregoing, an "Ownership Change"), Aston Xxxxxx shall, in addition to any other right vested in it hereunder, have a right to purchase (herein, a "Right of First Refusal" and/or "Option to Purchase") such ownership interests or principal assets, including any leasehold interest or realty of the dealership, pursuant to this Article.
Right of First Refusal or Option to Purchase. A. RIGHTS GRANTED DEALER recognizes the importance of the approved locations to DISTRIBUTOR's authorized dealer network and to the effective sale and servicing of Toyota Products in DEALER's primary area of responsibility. Accordingly, DEALER agrees that in the event that DISTRIBUTOR refuses to approve a transfer or sale of any ownership interest in the dealership, pursuant to paragraph VI, DISTRIBUTOR shall have the right of first refusal or an option to purchase the dealership assets, including any leasehold interest or realty, as provided herein.
Right of First Refusal or Option to Purchase. 1) Creation and Coverage If a proposal is submitted by the Retailer under Article 20B, then the Franchisor has a right of first refusal or option to purchase as described under this Article 20C. If the Franchisor exercises its right or option, it will do so in the written decision on the Retailer's proposal. The Franchisor's right or option may be assigned to any party and the Franchisor will guarantee the full payment of the purchase price by the assignee. The Franchisor has the right to disclose the terms of the buy/sell agreement to any potential assignee. If the Retailer has entered into a bona fide written buy/sell agreement for its franchised business or principal assets, the Franchisor's right under this Article 20 is a right of first refusal, enabling the Franchisor to assume the buyer's rights and obligations under such buy/sell agreement, and to cancel this Agreement and all rights granted to the Retailer.
Right of First Refusal or Option to Purchase
