Virginia Right of First Refusal Clause

State:
Multi-State
Control #:
US-CC-18-360B
Format:
Word; 
Rich Text
Instant download

Description

This sample form, a detailed Right of First Refusal document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

Court of Appeal: writ granted; right of first refusal was fully enforceable and could not be dodged by ?uncertainty? or bad faith conduct. The Court of Appeal issued the writ and reversed the trial court's order. The court held that the language of the right of first refusal was not too ?uncertain? to enforce.

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.

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.

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.

A right of first refusal is a court order that does not allow one parent to place the child in the care of another person without first giving the other parent the first right to care for the child.

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.

Is the right of first refusal a good idea? The right of first refusal can be a good idea in that it allows a potential buyer to have first dibs on a property, providing a sense of security and control. Sellers don't have to worry about listing the property and can save it for preferred buyers.

A manufacturer or distributor shall not exercise or enforce a right of first refusal if (i) the proposed sale or transfer is to a dealer licensed in the United States as a dealer holding a franchise from any manufacturer or distributor licensed as a manufacturer or distributor in the Commonwealth unless the ...

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Virginia Right of First Refusal Clause