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.
Washington Right of First Refusal and Co-Sale Agreement
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US-TC0211A
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How to fill out Right Of First Refusal And Co-Sale Agreement?
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FAQ
Is the right of first refusal a good idea? The right of first refusal can be a good idea in that it allows a potential buyer to have first dibs on a property, providing a sense of security and control. Sellers don't have to worry about listing the property and can save it for preferred buyers.
The right of first refusal requires that the other parent be given the opportunity to care for the child when the parent with residential time is unavailable. A right of first refusal is generally only used when the parents have been cooperative and shown an ability to co-parent.
A right of first refusal in the child custody context means that when a parent needs childcare during their regular parenting time, they must first offer the opportunity to the other parent before seeking outside help.
In some cases, a right of first refusal may give the holder the right to purchase the property at a specified ?bargain? price. Such provisions may be held unenforceable, especially if it is apparent that the specified price is significantly less than fair market value.
Basically, an ROFR clause obligates a seller to contact the rights holder with an option to purchase the property before they can accept an alternate third-party offer on the piece of real property.
A right of first refusal is a clause used in contracts that allows one party the first opportunity to make an offer on a property. It is basically ?first dibs? in legal form.