Common use of Exercise of the ROFR Clause in Contracts

Exercise of the ROFR. (i) Upon receipt of the Offering Member Notice, each Member shall have ten (10) business days (the “ROFR Offer Notice Period”) to elect to purchase all (but not less than all) of the Offered Securities by delivering a written notice (a “ROFR Offer Notice”) to the Offering Member and the Company stating that it offers to purchase such Offered Securities on the terms specified in the Offering Member Notice. Any ROFR Offer Notice shall be binding on delivery and irrevocable by the applicable Member. If more than one Member delivers a ROFR Offer Notice, each such Member (the “Purchasing Member”) shall be allocated its Pro Rata Share of the Offered Securities. SugarRush 5058, LLCOperating AgreementPage 32 of 53 (ii) Each Member that does not deliver a ROFR Offer Notice during the ROFR Offer Notice Period shall be deemed to have waived all of such Member’s rights to purchase the Offered Securities under this Section 9.02, and if no Member elects to purchase the Offered Securities pursuant to this Section 9.02, the Offering Member shall thereafter be free to sell the Offered Securities to the Independent Third Party named in the Offering Member Notice without any further obligation to the other Members pursuant to this Section 9.02.

Exercise of the ROFR. ‌ (i) Upon receipt of the Offering Member Notice, each Member shall have ten (10) business days 10 Business Days (the “"ROFR Offer Notice Period”") to elect to purchase all (but not less than all) of the Offered Securities by delivering a written notice (a “"ROFR Offer Notice”") to the Offering Member and the Company stating that it offers to purchase such Offered Securities on the terms specified in the Offering Member Notice. Any ROFR Offer Notice shall be binding on upon delivery and irrevocable by the applicable Member. If more than one Member delivers a ROFR Offer Notice, each such Member (the “"Purchasing Member”") shall be allocated its Pro Rata Share of the Offered Securities. SugarRush 5058, LLCOperating AgreementPage 32 of 53Securities.‌ (ii) Each Member that does not deliver a ROFR Offer Notice during the ROFR Offer Notice Period shall be deemed to have waived all of such Member’s 's rights to purchase the Offered Securities under this Section 9.029.03, and if no Member elects to purchase the Offered Securities pursuant to this Section 9.029.03, the Offering Member shall thereafter be free to sell the Offered Securities to the Independent Third Party named in the Offering Member Notice without any further obligation to the other Members pursuant to this Section 9.02.9.03.‌

Exercise of the ROFR. (i) Upon receipt of the Offering Member Notice, each Member shall have ten (10) business days (the “ROFR Offer Notice Period”) to elect to purchase all (but not less than all) of the Offered Securities Interest by delivering a written notice (a “ROFR Offer Notice”) to the Offering Member and the Company stating that it offers to purchase such Offered Securities Interest on the terms specified in the Offering Member Notice. Any ROFR Offer Notice shall be binding on upon delivery and irrevocable by the applicable Member. If more than one Member delivers a ROFR Offer Notice, each such Member (the “Purchasing Member”) shall be allocated its Pro Rata Share of the Offered Securities. SugarRush 5058, LLCOperating AgreementPage 32 of 53Interest. (ii) Each Member that does not deliver a ROFR Offer Notice during the ROFR Offer Notice Period shall be deemed to have waived all of such Member’s rights to purchase the Offered Securities Interest under this Section 9.02, 8.05; and if no Member elects to purchase the Offered Securities Interest pursuant to this Section 9.028.05, the Offering Member shall thereafter be free to sell the Offered Securities Interest to the Independent Third Party named in the Offering Member Notice without any further obligation to the other Members pursuant to this Section 9.028.05.