First Negotiation; Last Refusal Sample Clauses

The "First Negotiation; Last Refusal" clause establishes a two-step process for handling certain rights or opportunities, such as the sale of an asset or entry into a new agreement. Initially, the party holding this right is given the exclusive opportunity to negotiate terms with the offering party before any third parties are approached. If these negotiations do not result in an agreement, and the offering party receives a bona fide offer from a third party, the holder then has the right to match or refuse the terms of that offer before the transaction proceeds. This clause ensures the holder has both a priority position in negotiations and a final opportunity to secure the deal, thereby protecting their interests and reducing the risk of losing valuable opportunities to outside parties.