ROFR Statute definition

ROFR Statute means any statute, law or similar regulation imposed by any Governmental Authority pursuant to which any seller of real property which is a franchisor or similar Person is required by such statute, law or regulation to offer to an existing franchisee which operates such real property under a lease, sublease or other grant of authority the right of first refusal or a bona fide offer to purchase such real property, including, without limitation, Conn. Gen. Stat. Section 42-133mm.
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Examples of ROFR Statute in a sentence

  • There exists no default or breach any of the Repurchase Options, Use Restrictions and/or any ROFR, and, except as set forth on Schedule 3.14(a), no facts exist that would trigger any ROFR Statute, any of the Repurchase Options and/or any ROFR.

  • Except for any ROFR or Repurchase Option set forth on Schedule 3.14(b) or any Mortgaged Property subject to a ROFR Statute, the execution, delivery, or performance of the Mortgage Instruments and the Administrative Agent’s exercise of any rights or remedies thereunder will not give any Person the right to purchase any Mortgaged Property under or pursuant to any ROFR or Repurchase Option.

  • It is agreed that any request for a waiver or release of any applicable Repurchase Option, Use Restriction, ROFR or ROFR Statute shall not be deemed to violate this Section 5.14.

  • There exists no default or breach of any of the Repurchase Options, Use Restrictions and/or any ROFR, and, except as set forth on Schedule 3.14(a), no facts known to any Credit Party exist that would trigger any ROFR Statute, any of the Repurchase Options and/or any ROFR.

  • It is agreed that any request for a waiver or release of any applicable Repurchase Option or ROFR or ROFR Statute shall not be deemed to violate this Section 6.16.

  • There exists no default or breach of any ROFR, and no facts known to any Loan Party exist that would trigger any ROFR Statute or any ROFR, except to the extent that such default, breach or trigger would not reasonably be expected to be materially adverse to the Partnership and its Restricted Subsidiaries, taken as a whole.

Related to ROFR Statute

  • Governing statute of an organization means the statute that governs the organization's internal affairs.

  • the Statutes means the Companies Act and every other act (as may from time to time be amended) for the time being in force in Bermuda applying to or affecting the Company, the Memorandum of Association and/or these presents;

  • Takeover Statute means any “fair price,” “moratorium,” “control share acquisition” or other similar anti-takeover statute or regulation.

  • Statute means the Companies Act (As Revised) of the Cayman Islands.

  • Criminal drug statute means a Federal or non-Federal criminal statute involving the manufacture, distribution, dispensing, possession or use of any controlled substance.