First Offer Right definition

First Offer Right shall have the meaning set forth in Section 9.1.

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First Offer Right. As defined in Schedule 1.9(g)(i).

First Offer Right shall have the meaning set forth in Section 15.4 of this Lease.

Examples of First Offer Right in a sentence

• Set forth in Section 4.2 are the procedures applicable to the Manager First Offer Right.

• If Licensee rejects the Final Offer on this basis, then Licensee shall notify Bayer of its rejection of the Final Offer in writing and the First Offer Right Procedure shall continue to “Step Six: Independent Audit”, as set forth in Section 5.4.6 below.

• Upon delivery of such written notice by Licensee, the First Offer Right Procedure shall expire and Licensee shall thereafter be precluded from exercising the Partnering Right, unless Licensee re-satisfies the conditions precedent to the exercise of the Partnering Right set forth in Section 5.1 above.

• Licensee shall have the right, at any time after the occurrence of the Triggering Event, to exercise the Partnering Right; provided, however, that, as conditions precedent to the exercise of the Partnering Right, Licensee shall first provide to Bayer the Partnering Right Notification and grant to Bayer the exclusive right to undergo the First Offer Right Procedure described in Section 5.4 below.

• If Bayer either: (i) does not deliver the Election Notification to Licensee within the *** notice period; or (ii) elects not to undergo the First Offer Right Procedure; then, in each case, the conditions precedent to the exercise of the Partnering Right shall be deemed satisfied and Licensee shall have the right (but not the obligation), at any time thereafter, to exercise the Partnering Right, subject to the other terms and conditions of this Agreement.

More Definitions of First Offer Right

First Offer Right has the meaning specified in Section 11.2(a) of the LLC Agreement.

First Offer Right. As defined in Article 31.

First Offer Right has the meaning given in Section 6.2.

First Offer Right is defined in Section 7.8(b).

First Offer Right shall have the meaning set forth in Section 15.4 of this Lease. "Foreclosure Event" means any: (a) foreclosure sale (or trustee’s sale, assignment in lieu of foreclosure, Bankruptcy Sale, or similar transfer) affecting the Leasehold Estate; or (b) Leasehold Mortgagee’s exercise of any other right or remedy under the Leasehold Mortgage or its other loan documents (or applicable law) that divests Tenant of its Leasehold Estate or effects a Transfer of Equity Interests in Tenant, in each case, including, without limitation, pursuant to an assignment in lieu of foreclosure or similar transfer; or (c) foreclosure sale (or trustee’s sale, assignment in lieu of foreclosure, Bankruptcy Sale, or similar transfer) affecting a Subleasehold Estate; or (d) a Subleasehold Mortgagee’s exercise of any other right or remedy under a Subleasehold Mortgage or its other loan documents (or applicable law) that divests a Subtenant of its Subleasehold Estate or effects a Transfer of Equity Interests in a Subtenant, including, without limitation, pursuant to an assignment in lieu of foreclosure or similar transfer; or (e) a Mezzanine Lender's exercise of any right or remedy under its loan documents effecting a Transfer of Equity Interests, including, without limitation, pursuant to an assignment in lieu of foreclosure or similar transfer.

First Offer Right. Tenant's first offer right with respect to the Property granted pursuant to Article 27.

First Offer Right. Section 3.4(a)