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.
Ohio Right of First Refusal and Co-Sale Agreement is a legal document that serves to protect the rights and interests of shareholders in Ohio corporations. It ensures that shareholders have the opportunity to participate in certain corporate transactions and maintain their ownership percentage. The Right of First Refusal (ROAR) provision in the agreement gives existing shareholders the first opportunity to purchase additional shares before they are offered to third parties. This provision prevents dilution of ownership by ensuring that shareholders have the right to maintain their proportionate ownership in the company. The Co-Sale Agreement, on the other hand, grants shareholders the right to sell their shares in tandem with a majority shareholder. If a majority shareholder intends to sell their shares, this provision enables minority shareholders to also offer their shares for sale proportionate to the majority shareholder's offer. It guarantees equal treatment and prevents minority shareholders from being left out of lucrative deals while protecting their financial interests. In Ohio, there are a few variations of the Right of First Refusal and Co-Sale Agreement: 1. Standalone Right of First Refusal Agreement: This type of agreement exclusively focuses on the Right of First Refusal provision. It ensures that existing shareholders have the first opportunity to purchase any additional shares issued by the company. 2. Comprehensive Right of First Refusal and Co-Sale Agreement: This agreement encompasses both the Right of First Refusal and the Co-Sale provisions. It provides shareholders with the option to exercise their right of first refusal, as well as the ability to sell their shares alongside a majority shareholder. 3. Right of First Refusal Agreement with Exemptions: This agreement outlines specific exemptions to the right of first refusal provision. It may identify certain circumstances or individuals to whom the shareholders' right of first refusal does not apply, providing flexibility and allowing for more streamlined transactions in certain situations. It is important to consult with legal professionals experienced in corporate law to draft or review the Ohio Right of First Refusal and Co-Sale Agreement. They can ensure that the agreement accurately reflects the shareholders' intentions and protects their rights in accordance with Ohio corporate laws.Ohio Right of First Refusal and Co-Sale Agreement is a legal document that serves to protect the rights and interests of shareholders in Ohio corporations. It ensures that shareholders have the opportunity to participate in certain corporate transactions and maintain their ownership percentage. The Right of First Refusal (ROAR) provision in the agreement gives existing shareholders the first opportunity to purchase additional shares before they are offered to third parties. This provision prevents dilution of ownership by ensuring that shareholders have the right to maintain their proportionate ownership in the company. The Co-Sale Agreement, on the other hand, grants shareholders the right to sell their shares in tandem with a majority shareholder. If a majority shareholder intends to sell their shares, this provision enables minority shareholders to also offer their shares for sale proportionate to the majority shareholder's offer. It guarantees equal treatment and prevents minority shareholders from being left out of lucrative deals while protecting their financial interests. In Ohio, there are a few variations of the Right of First Refusal and Co-Sale Agreement: 1. Standalone Right of First Refusal Agreement: This type of agreement exclusively focuses on the Right of First Refusal provision. It ensures that existing shareholders have the first opportunity to purchase any additional shares issued by the company. 2. Comprehensive Right of First Refusal and Co-Sale Agreement: This agreement encompasses both the Right of First Refusal and the Co-Sale provisions. It provides shareholders with the option to exercise their right of first refusal, as well as the ability to sell their shares alongside a majority shareholder. 3. Right of First Refusal Agreement with Exemptions: This agreement outlines specific exemptions to the right of first refusal provision. It may identify certain circumstances or individuals to whom the shareholders' right of first refusal does not apply, providing flexibility and allowing for more streamlined transactions in certain situations. It is important to consult with legal professionals experienced in corporate law to draft or review the Ohio Right of First Refusal and Co-Sale Agreement. They can ensure that the agreement accurately reflects the shareholders' intentions and protects their rights in accordance with Ohio corporate laws.
