Seller’s Compliance with Rights of First Offer; Termination. Seller may comply with its obligations with respect to each Right of First Offer provided in this Section 4 by notifying Buyer once during each calendar quarter as to the DRM or MOS, as the case may be, that is subject to the Right of First Offer. If with respect to a Right of First Offer Buyer fails during any 12-month period to engage in Good Faith negotiations for 50% or more of Seller’s notifications in the preceding sentence for the Right of First Offer, Seller’s obligations, and Buyer’s rights, with respect to the Right of First Offer will terminate.
Appears in 3 contracts
Samples: Merchandising Agreement (Sears Hometown & Outlet Stores, Inc.), Merchandising Agreement (Sears Hometown & Outlet Stores, Inc.), Merchandising Agreement (Sears Hometown & Outlet Stores, Inc.)
Seller’s Compliance with Rights of First Offer; Termination. Seller may comply with its obligations with respect to each Right of First Offer provided in this Section 4 3(g) by notifying Buyer once during each calendar quarter as to the DRM or MOS, as the case may be, that is subject to the Right of First Offer. If with respect to a Right of First Offer Buyer fails during any 12-month period to engage in Good Faith negotiations for 50% or more of Seller’s notifications in the preceding sentence for the Right of First Offer, Seller’s obligations, and Buyer’s rights, with respect to the Right of First Offer will terminate.
Appears in 2 contracts
Samples: Merchandising Agreement (Sears Hometown & Outlet Stores, Inc.), Merchandising Agreement (Sears Hometown & Outlet Stores, Inc.)
