Indiana Right of First Refusal Clause for Shareholders' Agreement

State:
Multi-State
Control #:
US-01770
Format:
Word; 
Rich Text
Instant download

Description

This is a model clause for a shareholder's agreement addressing Right of First Refusal. If a shareholder wishes to sell shares, the company will be given notice and has the right to buy the shares during a certain limited time period. Adapt to fit your circumstances.

How to fill out Right Of First Refusal Clause For Shareholders' Agreement?

You might spend time online looking for the authentic document template that meets the federal and state requirements you need.

US Legal Forms offers thousands of authentic forms that are verified by experts.

You can easily download or print the Indiana Right of First Refusal Clause for Shareholders' Agreement from my services.

If available, utilize the Preview option to review the document template as well.

  1. If you already have a US Legal Forms account, you can Log In and select the Download option.
  2. Then, you can complete, modify, print, or sign the Indiana Right of First Refusal Clause for Shareholders' Agreement.
  3. Each authentic document template you obtain is yours indefinitely.
  4. To get another copy of any purchased form, visit the My documents tab and click on the related option.
  5. If you are using the US Legal Forms website for the first time, follow the simple instructions below.
  6. First, make sure that you have chosen the correct document template for your selected region/area.
  7. Review the form description to ensure you have selected the right form.

Form popularity

FAQ

To be enforceable, options and rights of first refusal must usually be in writing, signed, contain an adequate description of the property, and be supported by consideration. They may be included in lease contracts, or they may be drafted as standalone agreements.

The right of first refusal is usually triggered when a third party offers to buy or lease the property owner's asset. Before the property owner accepts this offer, the property holder (the person with the right of first refusal) must be allowed to buy or lease the asset under the same terms offered by the third party.

When you have a first right of refusal the seller must contact you and let you potentially move forward with a purchase before an offer can be accepted from another party. The first right of refusal can be put together either before a home is listed for sale or during the time it is on the market.

When some of the shareholders wish to sell their share, a clause in the shareholder's agreement should state that the shareholders who wish to sell their shares have to show the right to match an offer received from a third party. This is known as the right of first refusal.

The right of first refusal is usually triggered when a third party offers to buy or lease the property owner's asset. Before the property owner accepts this offer, the property holder (the person with the right of first refusal) must be allowed to buy or lease the asset under the same terms offered by the third party.

A "right of first refusal" is a contractual right on the part of a potential buyer to purchase real property within a specified period of time after another potential purchaser submits a purchase offer.

Rights of first refusal clauses are similar to options contracts as the holder has the right, but not the obligation, to enter into a transaction that generally involves an asset. The person with this right has the opportunity to establish a contract or an agreement on an asset before others can.

A right of first refusal is a fairly common clause in some business contracts that essentially gives a party the first crack at making an offer on a particular transaction.

Right of first refusal (ROFR), also known as first right of refusal, is a contractual right to enter into a business transaction with a person or company before anyone else can. If the party with this right declines to enter into a transaction, the obligor is free to entertain other offers.

A right of first refusal is a fairly common clause in some business contracts that essentially gives a party the first crack at making an offer on a particular transaction. In real estate terms, the phrase right of first refusal operates similarly.

Trusted and secure by over 3 million people of the world’s leading companies

Indiana Right of First Refusal Clause for Shareholders' Agreement