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Replace Date Field into the Sponsorship Agreement

Replace Date Field into the Sponsorship Agreement

Aug 6th, 2022

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is an example of a right of first refusal?

For example, a commercial tenant may prefer to lease a location; however, he may buy the premises if it meant that he would be evicted if the property sold to a new owner. In such a case, the tenant would negotiate to have a right of first refusal clause incorporated into his lease.

What does sponsorship agreement mean?

The Sponsorship Agreement refers to a written contract in which sponsors and applicants make promises to each other. The sponsor will typically submit a completed and signed Sponsorship Agreement (photocopy or a faxed copy) with the sponsorship application.

What is the first right of refusal for sponsorships?

The right of first refusal is a common clause in endorse- ment contracts between athletes and sponsors. It typically allows the sponsor to match a third partys offer to keep the athlete on its marketing team.

What is the meaning of the right of first refusal?

ROFR essentially gives interested buyers a contractual right to be the first party to have an opportunity to place an offer on a property when its listed on the market for sale by its owner.

What is first refusal in contract law?

A right of first refusal clause for inclusion in a commercial contract. The clause requires the grantor of the right to offer contract terms to the grantee before it can conclude a contract on the same terms with a third party.

What is the right of first refusal in a sponsorship agreement?

Right of First Refusal or Negotiation: The sponsor will usually request a right of first refusal (ROFR) that prohibits the organizer from entering into a sponsorship deal with another sponsor for the events next edition unless it first offers the opportunity to the original sponsor.

What should be included in a sponsorship agreement?

A sponsorship agreement should include the length of the agreement, an exclusivity clause, payment calculation and method, the sponsor benefits, intellectual property rights and termination conditions.

What is the exclusivity clause in a sponsorship agreement?

Exclusivity Clause Under an exclusivity clause, the sponsored party agrees not to include products, services, or promotional material from the sponsors competitors. It may be important to specify what constitutes competition in your event.

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