This is a "Right of First Refusal and Co-Sale Agreement." It is entered into by the corporation and the purchasers of preferred stock. It gives the company and the purchasers of preferred stock certain rights of refusal and options upon the transfer of stock.
A Cuyahoga Ohio Right of First Refusal and Co-Sale Agreement is a legal document that outlines the rights and obligations of parties involved in a real estate transaction or business partnership within Cuyahoga County, Ohio. This agreement grants the holder the first opportunity to purchase a property or shares of a company before the owner can sell to a third party. The Right of First Refusal (ROAR) ensures that the holder has the option to match the terms offered by a prospective buyer, preventing the owner from selling to someone else without giving the holder the opportunity to purchase. Keywords: Cuyahoga Ohio, Right of First Refusal, Co-Sale Agreement, real estate transaction, business partnership, Cuyahoga County, property, shares, purchase, third party, holder, terms, prospective buyer. There can be different types of Cuyahoga Ohio Right of First Refusal and Co-Sale Agreements, depending on the specific circumstances and nature of the transaction. Some common variants include: 1. Real Estate Right of First Refusal and Co-Sale Agreement: This type of agreement often arises in situations where there are multiple owners of a property. If one of the owners intends to sell their share, the other co-owners have the right of first refusal and the option to purchase that share before the owner can sell to an outside party. 2. Business Partnership Right of First Refusal and Co-Sale Agreement: In a business partnership, the partners may include a clause in the partnership agreement granting each partner a right of first refusal if one of the partners intends to sell their share. This ensures that existing partners have the opportunity to purchase the share before it is sold to an external buyer. 3. Shareholder Right of First Refusal and Co-Sale Agreement: This type of agreement is often found in the context of startups or closely held companies where shareholders hold minority stakes. The agreement grants existing shareholders the right of first refusal if another shareholder intends to sell their shares, ensuring that they have the opportunity to maintain their proportional ownership. 4. Option Agreement: While not a traditional right of first refusal and co-sale agreement, an option agreement can be used in Cuyahoga Ohio to accomplish a similar outcome. This agreement grants the holder an exclusive right to purchase the property or shares within a specific timeframe and at predetermined terms. Unlike a right of first refusal, the owner is not obligated to offer the property or shares to the holder before considering other offers but must abide by the agreed-upon terms if the holder exercises their option. Regardless of the type, a Cuyahoga Ohio Right of First Refusal and Co-Sale Agreement aims to provide protection and control to the holder, offering them an opportunity to participate in the contemplated transaction on equal footing with external buyers. It is essential to consult legal professionals familiar with Ohio laws to draft or review such agreements to ensure they are enforceable and align with the specific goals and circumstances of the parties involved.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
