Common use of Third-Party Exercise Clause in Contracts

Third-Party Exercise. If a third party exercises a preferential right to purchase any of the Interests, the affected Interest shall be removed from this Agreement and the Base Purchase Price shall be adjusted by the dollar amount allocated to the affected Interest as set forth on Exhibit β€œA”.

Appears in 2 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Goodrich Petroleum Corp)