Examples of ROFO Period in a sentence
In the event Licensee fails to meet the specific terms of any third party offer, or the Parties are otherwise unable to reach mutually acceptable terms under a right of first offer, or Licensee does not exercise its right of first refusal or offer within the ROFR Period or the ROFO Period, respectively, Licensor may sell its rights in the Technology to any third party or, if there is a third party offer, to that specific third party.
Licensee shall have a right of first offer, which shall extend for 30 days from Licensor’s notice ("ROFO Period") to negotiate mutually acceptable terms to purchase the Technology.
In the event that TGI does not exercise its Right of First Offer, Leisurecorp or GWSE, as applicable, may consummate the transaction contemplated by the Offer Notice so long as the transaction is consummated within sixty (60) Business Days of the expiration of the ROFO Period.
If Reliance does not submit the Reliance Offer by end of the ROFO Period, Reliance will be deemed to have waived the Reliance ROFO.
Offer Notice once given shall be irrevocable and open for acceptance until close of business on the date falling 10 Business Days after the expiry of the ROFO Period (such ROFO Recipient in this case being known as a “ROFO Offeree”).