Examples of ROFO Option in a sentence
The ROFO Option shall be exercisable by Investor by delivering written notice of the exercise thereof prior to the expiration of the Exercise Period.
Effective on and after the date of this Amendment, Tenant shall have no ROFO Option or any other like option unless expressly set forth herein.
If the acquisition of the ROFO Parcel appears as a ballot measure in a City of Boulder election, and the voters fail to approve the measure, then the City’s ROFO Option shall be deemed withdrawn and shall no longer apply to the applicable ROFO Parcel.
Notwithstanding the foregoing, Tenant acknowledges and agrees that its exercise of any ROFO Option hereunder is subject to approval by the Board, if and to the extent such approval is required in accordance with the standard rules, regulations and procedures of the Board of general applicability to lease transactions, consistently applied.
The ROFO Option of Tenant hereunder with respect to each respective ROFO Space shall terminate and expire on the earlier to occur of (a) as provided in Section 27.1 above, Tenant’s failure to deliver an Acceptance Notice within the ten (10) day period of time set forth above, or (b) as provided in Section 27.3 above, the date Landlord would have provided Tenant a ROFO Notice if Tenant had not been in violation of one or more of the conditions set forth in Section 27.3 above.
Tenant shall have no right to exercise any ROFO Option or to lease any ROFO Space, and Landlord shall have no obligation to deliver a ROFO Notice, if an Event of Default exists on the date the respective space becomes available for leasing or on the date of the Acceptance Notice.
If, during the City’s Exclusive Option, the City (i) fails to timely deliver the Option Notice, or (ii) declines to exercise the ROFO Option, then the City’s ROFO Option shall be deemed withdrawn and shall no longer apply to the applicable ROFO Parcel.
Provided University has determined in its sole discretion to offer City the ROFO Option and, if applicable, prior to entering negotiations with any third party, the University shall deliver written notice of the ROFO Option no later than the next occurring April 1st (the “ROFO Notice”).
If at the time of offering the ROFO Option, the University has commenced constructing any infrastructure or vertical improvements on or to the ROFO Parcel, then the purchase price for the ROFO Parcel shall be determined by the appraisal method set forth in this Section 45.b. The Parties will each select an appraiser.
If the closing of City’s acquisition of the ROFO Parcel does not occur on or before January 31st of the calendar year immediately following the Option Year, then the City’s ROFO Option shall be deemed withdrawn and shall no longer apply to the applicable ROFO Parcel, unless otherwise agreed by the Parties in writing.