This is a "Right of First Refusal and Co-Sale Agreement." It is entered into by the corporation and the purchasers of preferred stock. It gives the company and the purchasers of preferred stock certain rights of refusal and options upon the transfer of stock.
Maryland Right of First Refusal and Co-Sale Agreement is a legally binding agreement between parties involved in a business transaction or the sale of a property in the state of Maryland. The agreement ensures that certain individuals or entities have the right to purchase a property or shares of a company before it is sold to a third party. It is important to include relevant keywords such as "Maryland," "Right of First Refusal," and "Co-Sale Agreement" in the description to enhance its searchability. In Maryland, there are different types of Right of First Refusal and Co-Sale Agreements, including: 1. Real Estate Right of First Refusal Agreement: This agreement is commonly used in real estate transactions. It gives a particular individual or entity the first opportunity to purchase a property at a predefined price and terms before it is made available to others. 2. Shareholder's Right of First Refusal Agreement: This type of agreement commonly occurs in business transactions, especially in companies with multiple shareholders. It grants existing shareholders the opportunity to match an offer from an external party to purchase shares. If an existing shareholder exercises their right, they can prevent the shares from being sold to a third party. 3. Co-Sale Agreement: A Co-Sale Agreement is often used in situations where multiple shareholders agree to sell their shares collectively. It establishes terms and conditions under which shareholders can sell their shares in a company simultaneously, ensuring fair and equitable distribution of funds. Maryland Right of First Refusal and Co-Sale Agreements are crucial for protecting the rights of individuals or entities with a potential interest in a property or shares of a company. By having such an agreement in place, it helps prevent unwanted third-party involvement and maintains control over the transfer of the property or shares. It provides a sense of security and transparency, ensuring all parties involved have an opportunity to participate in the transaction on fair terms. Overall, the Maryland Right of First Refusal and Co-Sale Agreement serves as a legally recognized mechanism to protect the rights of individuals and entities seeking to acquire a property or shares within the state of Maryland. Whether in real estate or business transactions, these agreements ensure fairness, transparency, and the preservation of existing relationships among parties involved.
