Exhibit FIRST REFUSAL Sample Clauses
The Exhibit FIRST REFUSAL clause grants a party the right to be offered a specific opportunity before the offer is made available to others. In practice, this often means that if the owner of an asset, such as a property or intellectual property, decides to sell or lease it, the holder of the first refusal right must be given the chance to match any third-party offer or accept the terms before the asset is offered elsewhere. This clause primarily serves to protect the interests of the holder by ensuring they have priority access to valuable opportunities, thereby reducing the risk of losing out to competitors.
Exhibit FIRST REFUSAL. Whenever any party under the Lease shall have a right of first refusal as to certain property, the following procedures shall apply. If the owner of the property offering it for sale (“Offering Party”) shall within the term of the Lease receive a bona fide third party offer to purchase the property which such Offering Party is willing to accept, the holder of the right of first refusal (the “Holder”) shall have the following rights:
Exhibit FIRST REFUSAL. Exhibit ADJUSTER’S STATEMENT .................................................................................................... Exhibit APPRAISER’S STATEMENT ................................................................................................... Other Exhibits to be Attached as Appropriate .........................................................................................