Oregon Clauses Relating to Transfers of Venture Interests — Including Rights of First Refusal In Oregon, the laws governing transfers of venture interests, such as shares or membership interests in a venture, include specific clauses that outline various rights and obligations. One significant provision is the Rights of First Refusal clause, which grants existing venture partners or members the first opportunity to purchase the transferring party's interest before it can be sold or transferred to an outside party. Below, we will delve into the different types of Oregon Clauses Relating to Transfers of Venture Interests — Including Rights of First Refusal. 1. General Rights of First Refusal Clause: The General Rights of First Refusal clause is a standard provision in venture agreements. It specifies that if a venture partner or member intends to transfer their interest, they must first offer it to the existing partners or members. This clause ensures that the other participants have a chance to retain or increase their stake in the venture before an outside individual or entity can become a member. 2. Limited Scope Rights of First Refusal Clause: A Limited Scope Rights of First Refusal clause may be employed to restrict the scope of the right to purchase the transferring party's interest. This clause defines certain situations or conditions in which the right of first refusal will not apply. For instance, it may exclude transfers within a specific group of individuals, transfers below a certain value threshold, or transfers that result from specific court orders or legal obligations. 3. Multiple Offer Rights of First Refusal Clause: The Multiple Offer Rights of First Refusal clause provides an opportunity for multiple parties to express their interest in acquiring the transferring party's interest. Under this provision, the transferring party is required to provide notice to existing partners or members about their intention to transfer. After receiving such notice, the existing participants can submit competing offers, and the transferring party may choose the most favorable offer among them. 4. Right of First Offer Clause: The Right of First Offer clause is another common provision in Oregon venture agreements. This clause grants existing partners or members the right to make an offer to purchase the transferring party's interest before exploring other sale or transfer options. However, unlike the Rights of First Refusal clause, the transferring party is not obligated to accept the offer, allowing them to consider other offers or negotiate the terms further. 5. Right of First Negotiation Clause: The Right of First Negotiation clause is a less common provision but worth mentioning. It grants existing partners or members the exclusive opportunity to initiate negotiations with the transferring party in the event they intend to transfer their interest. This clause allows for private negotiations and may result in a purchase agreement, but it does not impose an obligation on the transferring party to sell, as it merely guarantees them the first chance to discuss the potential transfer terms. In conclusion, when it comes to Oregon Clauses Relating to Transfers of Venture Interests — Including Rights of First Refusal, various provisions exist to govern the transfer of venture interests. These include the General Rights of First Refusal clause, Limited Scope Rights of First Refusal clause, Multiple Offer Rights of First Refusal clause, Right of First Offer clause, and Right of First Negotiation clause. Each clause serves a unique purpose in protecting the interests of venture partners or members and ensuring a fair and controlled transfer process.
Oregon Clauses Relating to Transfers of Venture interests - including Rights of First Refusal
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A Right of First Refusal is a contractual right between an owner of real property (the ?Owner?) and a potential purchaser of real property (the ?Right Holder?) pursuant to which if the Owner receives a third party offer to purchase the real property that the Owner wants to accept, the Owner must offer to sell the real ...
Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, ing to specified terms, before the owner is entitled to enter into that transaction with a third party.
Basically, an ROFR clause obligates a seller to contact the rights holder with an option to purchase the property before they can accept an alternate third-party offer on the piece of real property.
It's a clause that both player and the board agree before signing in the contract. Basically, if 2 clubs want to make a transfer, they have to negotiate the value of player. This clause set a fix price that allow other club talk with the player if they willing to pay it.
Premises Provider will not allow any products or services that compete with those supplied by Company during the term of the Agreement to be, or to remain, installed at any Premises Provider facilities, including present and future Premises Provider locations.
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.
In the limited liability company (LLC) context, a right of first refusal (ROFR) gives the holder of the right the option to purchase a fellow member's interest after the divesting member has first received an initial bona fide offer from a third party.
A generic right of first refusal (ROFR) provision that restricts a contracting party from accepting a third-party offer to enter into a specified transaction without first offering the terms proposed by the third party to the holder of the ROFR.