Third-Party Failure to Purchase. If a third party gives notice of its intent to exercise a preferential right to purchase any of the Assets, but does not close the purchase for any reason, either before or within a reasonable time after Closing, then there shall promptly be an additional Closing between Seller and Buyer for such portion of the Assets pursuant to the terms of this Agreement, by which Seller will transfer the affected portion of the Assets to Buyer and Buyer will promptly pay Seller that portion of the Purchase Price attributable thereto (or in the case of a negative allocation, Seller will refund the absolute value of the negative amount to Buyer, without interest).
Appears in 3 contracts
Sources: Asset Sale Agreement (Xto Energy Inc), Asset Sale Agreement (Resolute Energy Corp), Asset Sale Agreement (Resolute Energy Partners, LP)
Third-Party Failure to Purchase. If a third party gives notice of its intent to exercise a preferential right to purchase Preferential Right any of the Assets, but does not close the purchase for any reason, reason either before or within a reasonable time after Closing, then there shall promptly be an additional Closing between Seller and Buyer for such portion of the Assets pursuant to the terms of this Agreement, by which Seller will transfer the affected portion of the Assets to Buyer and Buyer will promptly pay Seller that portion of the Purchase Price attributable thereto (or in the case of a negative allocation, Seller will refund the absolute value of the negative amount to Buyer, without interest) (in each case subject to adjustment in accordance with Section 2.4).
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Constellation Energy Partners LLC), Purchase and Sale Agreement (Constellation Energy Partners LLC)
Third-Party Failure to Purchase. If a third party gives notice of its intent to exercise a preferential right Preferential Right to purchase acquire any of the Assets, but does not close the purchase for any reason, reason either before or within a reasonable time after Closing, then there shall promptly be an additional Closing between Seller and Buyer for such portion of the Assets pursuant to the terms of this Agreement, by which Seller will transfer the affected portion of the Assets to Buyer and Buyer will promptly pay Seller that portion of the Purchase Price attributable thereto (or in the case of a negative allocation, Seller will refund the absolute value of the negative amount to Buyer, without interest).
Appears in 1 contract
Sources: Purchase and Sale Agreement (Comstock Resources Inc)