First Refusal Contract Without
Description
How to fill out Right Of First Refusal Clause For Shareholders' Agreement?
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FAQ
In some cases, a right of first refusal may give the holder the right to purchase the property at a specified ?bargain? price. Such provisions may be held unenforceable, especially if it is apparent that the specified price is significantly less than fair market value.
The right of first refusal granted herein shall terminate (i)with respect to any particular First Refusal Space upon the failure by Tenant to exercise its right of first refusal with respect to the First Refusal Space so offered by Landlord pursuant to the terms of this Section1.
The majority of disposals will trigger the Right of First Refusal, but the following are exempt: grant of single tenancies: the landlord is free to grant tenancies of individual flats. grant of a mortgage: where the landlord obtains a mortgage or a loan on the security of his interest.
In real estate, the right of first refusal is a clause in a contract that gives a prioritized, interested party the right to make the first offer on a house before the owner can negotiate with other prospective buyers.
No person is entitled or purports to be entitled, to any right of first refusal, pre-emptive right, right of participation, or any similar right, to participate in the transaction or otherwise with respect to any securities of the Company.
