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1. n. [Oil and Gas Business] The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.
No person other than the Buyer and Buyer Guarantor has any agreement, option, understanding or commitment, or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option for the purchase of any of the Licenses.
An exclusive rights agreement is a contract between an author and publisher that grants the publisher exclusive rights to publish, distribute, and sell the work. This type of agreement can be advantageous for both parties because it limits competition from other publishers.
Long form clause by which the customer agrees to purchase a particular product or service exclusively from the supplier and the supplier agrees not to supply a particular product or service to the customer's competitors.