Examples of ROFO Period in a sentence
For the avoidance of doubt, the ROFO shall terminate upon the expiration of the ROFO Period.
If any ROFO Space becomes available during the ROFO Period, then Landlord shall give Tenant a written notice (“Landlord’s Offer Notice”) offering to lease such ROFO Space to Tenant at the same rent and on the same terms that Landlord intends to offer to other prospective tenants.
For a period of 120 days after the expiry of the ROFO Period (inclusive), the Company may sell any ROFO Securities to any Person upon terms and conditions that, in the reasonable determination of the Company, are not less favorable to the Company than those specified in the First Binding Offer (after taking into account only the price, the amount, the seniority and the redemption feature of the ROFO Securities being offered to such Person).
The ROFO may be exercised only with respect to: (i) a ROFO Space that has been previously leased and becomes available during the ROFO Period following expiration or other termination of such previous lease with respect to such ROFO Space, and (ii) all of the ROFO Space offered by Landlord pursuant to a particular Landlord’s Offer Notice (as hereafter defined).
In the event that the Exercising ROFO Holders deliver a First Binding Offer during the ROFO Period, and such First Binding Offer is accepted by the Company, then the closing of such issuance of ROFO Securities shall take place according to the terms and conditions of such First Binding Offer or as otherwise agreed to between the Company and the Exercising ROFO Holders.