Right of First Refusal
Legal Agreements
A Right of First Refusal (ROFR) agreement grants specified parties the first opportunity to purchase equity interests before they can be offered to third parties.
Key Provisions
- Transfer notice requirements
- Exercise period and pricing
- Permitted transfers
- Valuation methodology
- Tag-along and drag-along rights
- Closing procedures
Common Use Cases
- 1Startup equity agreements
- 2Partnership interest transfers
- 3Real estate co-ownership
- 4Joint venture membership changes
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