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.
Ohio Right of First Refusal and Co-Sale Agreement
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US-TC0211A
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How to fill out Right Of First Refusal And Co-Sale Agreement?
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FAQ
A right of first refusal is a contractual right giving its holder the option to transact with the other contracting party before others can. The ROFR assures the holder that they will not lose their rights to an asset if others express interest.
Right of first refusal and co-sale agreement or ROFR for short, involves an agreement or clause that mandates a party provides notice before a transaction. Additionally, this agreement requires that an option is provided for the other party to refuse this transaction.
This contractual right, also known as ROFR, gives an individual or an entity the option to participate in a business transaction before that opportunity is offered to a third party.
The first right of refusal contingency allows the seller to continue to market the property and seek other offers while the buyer tries to satisfy the contingency to sell their own home.
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.
A right of first refusal?often abbreviated as ?ROFR? (pronounced ?roafer?)?gives the holder of the right ?first dibs? on any potential share sale. Also known as a ?last look? provision, ROFRs are a common feature in venture financings.
In a California partition action, a right of first refusal is a right given to co-owners that allows them to purchase their other co-owners' interests before the property is sold to a third party. This gives all co-owners a chance the resolve the co-ownership dispute before it escalates to a sale on the open market.
On December 20, 2022, the Tenth District Court of Appeals held that all material terms of a third party offer must generally be matched by the holder of a right of first refusal. The Court ?must apply?not ignore? material terms.
