US Legal Forms
Localized Forms
Texas
Tarrant
Right of First Refusal Clause for Shareholders' Agreement

Tarrant Texas Right of First Refusal Clause for Shareholders' Agreement

Name: Tarrant Texas Right of First Refusal Clause for Shareholders' Agreement
Brand: US Legal Forms
Rating: 4.68 (364 reviews)

Category:

Corporations - Shareholders and Stock

State:

Multi-State

County:

Tarrant

Control #:

US-01770

Format:

Instant download

Description

This is a model clause for a shareholder's agreement addressing Right of First Refusal. If a shareholder wishes to sell shares, the company will be given notice and has the right to buy the shares during a certain limited time period. Adapt to fit your circumstances.

View Riverside Nonexclusive Sales Agency Agreement

View this form

View Riverside Sample Letter for Reminder from Vet to Pet Owner

View this form

View Riverside Sample Letter for Exception To Determination of Civil Penalty

View this form

View Riverside Balance Sheet Support Schedule - Inventory

View this form

View Riverside Agreement Between Personal Trainer and Client

View this form

How to fill out Tarrant Texas Right Of First Refusal Clause For Shareholders' Agreement?

Laws and regulations in every sphere vary from state to state. If you're not an attorney, it's easy to get lost in various norms when it comes to drafting legal documentation. To avoid expensive legal assistance when preparing the Tarrant Right of First Refusal Clause for Shareholders' Agreement, you need a verified template valid for your region. That's when using the US Legal Forms platform is so helpful.

US Legal Forms is a trusted by millions online library of more than 85,000 state-specific legal templates. It's a perfect solution for professionals and individuals looking for do-it-yourself templates for different life and business scenarios. All the documents can be used multiple times: once you purchase a sample, it remains accessible in your profile for further use. Thus, if you have an account with a valid subscription, you can simply log in and re-download the Tarrant Right of First Refusal Clause for Shareholders' Agreement from the My Forms tab.

For new users, it's necessary to make several more steps to get the Tarrant Right of First Refusal Clause for Shareholders' Agreement:

Analyze the page content to ensure you found the appropriate sample.
Use the Preview option or read the form description if available.
Search for another doc if there are inconsistencies with any of your requirements.
Use the Buy Now button to obtain the document when you find the right one.
Choose one of the subscription plans and log in or sign up for an account.
Decide how you prefer to pay for your subscription (with a credit card or PayPal).
Pick the format you want to save the file in and click Download.
Fill out and sign the document in writing after printing it or do it all electronically.

That's the easiest and most affordable way to get up-to-date templates for any legal purposes. Find them all in clicks and keep your documentation in order with the US Legal Forms!

Form Rating

4.68

Satisfied(364)

Form popularity

FAQ

What Is the Difference Between Right of First Offer and Right of First Refusal? A right of first offer gives the holder the right to submit the first bid on the potential sale of a property. A right of first refusal gives the holder the right to match or refuse to match an offer that has been made to a seller.

By accepting a contingent offer for a particular period, the seller is granting the buyer the first right of refusal. If another buyer wants to purchase the homeand the buyer has not yet sold the homethe seller may ask the buyer to remove the contingency.

Within 30 days after receipt of the Seller's Notice, the Company shall have the right to purchase all or any portion of the shares so offered at the price and on the terms and conditions stated in the Seller's Notice.

The United States District Court for the District of Columbia restated the fundamental principle that in order for a right of first refusal to be enforceable, it must be in writing under the Statute of Frauds.

The first right of refusal is a contractual right that ensures businesses have access to certain commercial opportunities before others. It is similar to an options clause because the holder has the right, but not the obligation, to enter into a transaction.

The partners in a joint venture generally possess the right of first refusal on buying out the stakes held by other partners who leave the venture. Similarly, a ROFO gives non-selling shareholders in a shareholder agreement the right to purchase shares of selling shareholders before they are offered to the public.

To be enforceable, options and rights of first refusal must usually be in writing, signed, contain an adequate description of the property, and be supported by consideration. They may be included in lease contracts, or they may be drafted as standalone agreements.

ROFR- It provides the existing shareholders with the right to accept or refuse to buy shares of a selling shareholder. ROFO A similar known mechanism in a shareholders agreement that provides non-selling shareholders with the right to be offered the shares before any external solicitation takes place.

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.

The right of first refusal granted herein shall terminate (i)with respect to any particular First Refusal Space upon the failure by Tenant to exercise its right of first refusal with respect to the First Refusal Space so offered by Landlord pursuant to the terms of this Section1.

Interesting Questions

More info

EARN-OUT PERIOD: the period from 1st April 2005 to 31st March 2006. Members to Avoid Shareholder Agreement Purchase Option.Approved the mergers and the issuance of up to 4,400,000 shares of Churchill. Downs common stock pursuant to the Merger Agreement. 6396 shares of Certegy common stock.

Tarrant Texas Right of First Refusal Clause for Shareholders' Agreement

Description

Related forms

How to fill out Tarrant Texas Right Of First Refusal Clause For Shareholders' Agreement?

Show more info

Form Rating

Form popularity

FAQ

What is difference between right of first refusal and right of first offer?

What is a first right contingency?

How many days do the shareholders have a right of first refusal to purchase any shares offered for sale?

Does a right of first refusal have to be in writing?

What is right to refusal in contract?

Who has the first right of refusal?

How do you enforce a right of first refusal?

What is the right of first refusal where in existing share holders are granted the right to be offered first refusal in selling or buying shares?

What is the right of first refusal example?

How do you write the first right of a refusal clause?

Interesting Questions

What is a Right of First Refusal clause in a Shareholders' Agreement?

Why is a Right of First Refusal clause included in a Shareholders' Agreement?

How does the Right of First Refusal clause work?

Can the existing shareholders refuse to purchase the offered shares?

What are the benefits of a Right of First Refusal clause for existing shareholders?

Can the Right of First Refusal clause be waived?

More info

Trusted and secure by over 3 million people of the world’s leading companies