ROFR Offer definition
Examples of ROFR Offer in a sentence
The ROFR Offer Notice shall constitute an offer (the “ROFR Offer”) by the Triggering Member to sell its Company Interests to the Non-Triggering Member upon substantially the same terms and conditions as those set forth in the ROFR Offer Notice, modified only in so far as is necessary to reflect a sale of the Triggering Member’s Company Interests rather than the entire Company.
The Non-Triggering Member may accept the ROFR Offer only by written notice given within 30 Business Days after delivery of the ROFR Offer Notice (the “ROFR Acceptance Period”).
If the closing date is not set forth in the ROFR Offer, then such date shall automatically be 90 days following the date of delivery of the ROFR Offer Notice; provided, however, that if such date is not a Business Day, then such date shall be the next Business Day; provided, further, that if the consummation of the such sale requires the approval of any Governmental Entity, then the closing date may be extended to the first Business Day following the receipt of such approval.