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In the context of a corporation, an ROFR is a contractual obligation of a shareholder to offer to sell its shares to the other holders (or sometimes back to the corporation) after receiving a bona fide offer to purchase from a third party.
What Triggers Right of First Refusal? Right of first refusal in real estate is triggered when a homeowner decides to sell their property. If he or she has entered into a contractual agreement that requires them to give someone else the right to purchase the house first, right of first refusal is triggered immediately.
A right of first refusal is a fairly common clause in some business contracts that essentially gives a party the first crack at making an offer in a particular transaction. In real estate terms, the phrase right of first refusal operates similarly.
A Right of First Refusal to Purchase is a lease clause that gives the tenant the right to have the first opportunity to buy a property or space at the same price and on the same terms and conditions as those contained in a third party offer that the owner has expressed a willingness to accept, or at a set price the
Rights of first refusal clauses are similar to options contracts as the holder has the right, but not the obligation, to enter into a transaction that generally involves an asset. The person with this right has the opportunity to establish a contract or an agreement on an asset before others can.
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Rights of first refusal clauses are similar to options contracts as the holder has the right, but not the obligation, to enter into a transaction that generally involves an asset. The person with this right has the opportunity to establish a contract or an agreement on an asset before others can.
The right of first refusal is a standard clause in many stockholders agreements. It requires a stockholder who has received an offer from a third party to purchase any or all of its shares in a company to offer those shares to the other stockholders before consummating the sale to the third party.
A right of first refusal is a fairly common clause in some business contracts that essentially gives a party the first crack at making an offer in a particular transaction. In real estate terms, the phrase right of first refusal operates similarly.
When a casting director issues a first refusal it means that a final casting decision has not been made; the casting director is requesting that the performer contact him/her before accepting a booking for another job on the same day(s), i.e., giving the original producer the first opportunity to book the person.
​Definition​ A co-sale agreement (co-sale rights or tag-along provision) in a term sheet gives one group of stockholders the right to sell their shares when another group does so, and under the same conditions.

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