Common use of Right of First Refusal by Qualified Persons Clause in Contracts

Right of First Refusal by Qualified Persons. In the event neither Declarant nor Association accept an irrevocable Offer made by an Owner pursuant to this Section 1 within the time allowed, all qualified persons shall have the right of refusal to purchase a selling Owner’s Condominium in the order of their priority as determined in the sole discretion of Declarant on the terms set forth in subsection (c) hereof; provided, however, that such right of refusal shall not preempt or otherwise limit the right of Declarant or Association to purchase as described hereinabove. Declarant shall establish and publish appropriate rules for timely exercise of such rights of refusal.

Right of First Refusal by Qualified Persons. In the event neither Declarant nor Association accept an irrevocable Offer made by an Owner pursuant to this Section 1 within the time allowed, all qualified persons shall have the right of refusal to purchase a selling Owner’s 's Condominium in the order of their priority as determined in the sole discretion of Declarant on the terms set forth in subsection (c) hereof; provided, however, that such right of refusal shall not preempt or otherwise limit the right of Declarant or Association to purchase as described hereinabove. Declarant shall establish and publish appropriate rules for timely exercise of such rights of refusal.