RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES Clause Samples

The Right of First Refusal to Purchase the Premises clause grants a specified party, often a tenant or existing stakeholder, the opportunity to purchase a property before the owner can sell it to a third party. In practice, if the owner receives an offer from another potential buyer, they must first present the same terms to the holder of the right, who then has a set period to decide whether to match the offer and proceed with the purchase. This clause primarily serves to protect the holder’s interests by giving them priority in acquiring the property, thereby preventing unwanted third-party ownership and providing a measure of control over future transactions involving the premises.
RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES. Notwithstanding any provision of this Lease or that certain Fuel Service and Truck Stop Operating Agreement between Lessee and Lessor of even date herewith to the contrary, Lessor irrevocably assigns to Lessee any and all of Lessor's rights of first refusal to purchase the premises in accordance with Article XVI, Sections 16.1, 16.2 and 16.3 of that certain Lease Agreement between S.W. Day and T. ▇▇▇ ▇▇▇▇▇▇▇▇; and River Port Tuck Stop, Inc., dated January 17, 1997 and that certain Assignment and Assumption of Lease from River Port Truck Stop, Inc. to River Port Truck Stop, L.L.C. dated May 19, 1998 (collectively referred to as the "Base Lease"). It is the parties' intention that this right of first refusal to Lessee shall survive the terms and conditions of this Lease and that certain Fuel Service and Truck Stop Operating Agreement. This Lease is made and signed in multiple originals, with the Effective Date as defined above.
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RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES. Notwithstanding any provision of this Fuel Service and Truck Stop Operating Agreement or that certain Convenience Store and Restaurant Sub-Lease (the "Lease") between Operator and Establishment Licensee of even date herewith to the contrary, Establishment Licensee irrevocably assigns to Operator any and all of Establishment Licensee's rights of first refusal to purchase the premises in accordance with Article XVI, Sections 16.1, 16.2 and 16.3 of that certain Lease Agreement between S. W. Day and T. ▇▇▇ ▇▇▇▇▇▇▇▇; and River Port Truck Stop, Inc., dated January 17, 1997 and that certain Assignment and Assumption of Lease from River Port Truck Stop, Inc. to River Port Truck Stop, L.L.C., dated May 19, 1998 (collectively referred to as the "Base Lease"). It is the parties' intention that this right of first refusal to Operator shall survive the terms and conditions of this Fuel Service and Truck Stop Operating Agreement and the Lease. This Operating Agreement is made and signed in multiple originals, with the Effective Date as defined above.
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RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES. 4.1. If the Owner receives an offer from a third party to purchase the Premises, (the “Third-Party Offer”) then before the Owner may accept the Third-Party Offer, it must first allow the Lessee the opportunity to purchase the Premises on the same terms and conditions as the Third-Party Offer. Upon receipt of a Third- Party Offer, the Owner will deliver a copy of the Third Party Offer to the Lessee in writing. The Lessee will have sixty (60) days from its receipt of the Third Party Offer to notify the Owner that it will purchase the Premises on the same terms and conditions as set forth in the Third-Party Offer. If the Lessee does not elect to match the Third-Party Offer or does not respond within the sixty (60) day period, the Owner may sell the Premises in accordance with the Third-Party Offer to the third party. 4.2. This Right of First Refusal is exclusive and non-assignable and exists solely for the benefit of the named Parties to this Master Lease. Should the Lessee attempt to assign, convey, delegate, or transfer this Right of First Refusal without Owner’s express written permission, any such attempt shall be deemed null and void.
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RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES. If at any time during the term of this Lease, the Landlord receives (1) a bona fide offer from any person to purchase the Jack▇▇▇ ▇▇▇lding or any portion thereof, which the Landlord intends to accept, or (2) a bona fide offer from any person to purchase as a package the Jack▇▇▇ ▇▇▇lding and the Penn-Sixth-Liberty Garage Building, which the Landlord intends to accept, the Landlord will send the Tenant a copy of the proposed contract and will notify the Tenant of the intention of the Landlord to accept it. The Tenant will have the right, within thirty (30) days after the delivery of that notice, to accept the terms of the said contract in its own name or in the name of a nominee, for the gross purchase price and under the terms
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RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES. Landlord, on behalf of itself, its successors, assigns, and any subsequent owner or holder of any interest in the Premises, hereby grants to Tenant the exclusive and irrevocable right and option (the “Right of First Refusal”) to purchase the Premises at the same price and upon the same terms, provisions and conditions as shall be contained in any written bona fide offer for the purchase thereof which Landlord shall at any time during the Term of this Lease, or any extension thereof, be ready and willing to accept (“Offer”), the parties agreeing that the term “Offer” includes, but is not limited to, the sale of a controlling interest in any entity that owns all or any part of or any interest in the Premises and/or any rights and interests appurtenant thereto. Landlord shall give Tenant written notice (to Tenant at Tenant’s address set forth in this Lease and by the method required by the terms of this Lease) and a complete copy of such bona fide offer, which includes all of the documentation, terms, provisions and conditions therein contained. Landlord agrees to notify Tenant in writing immediately upon placing the Premises on the market (with or without a broker) (“Notice of Intention to Sell”) and, provided Landlord has done so in a timely manner, Tenant shall have ten (10) business days from and after the receipt of notice from Landlord of the Offer, in which to exercise such right, which Tenant shall do, if at all, by giving written notice to Landlord (to Landlord at Landlord’s address set forth in this Lease and by the method required by the terms of this Lease). If Landlord fails to provide Tenant with the Notice of Intention to Sell as set forth above, Tenant shall have thirty (30) days from and after the receipt of the Offer in which to exercise its Right of First Refusal, which Tenant shall do, if at all, by giving written notice to Landlord (to Landlord at Landlord’s address set forth in this Lease and by the method required by the terms of this Lease). One or more waiver(s) of Tenant’s right to purchase the Premises under the terms of any such Offer shall not constitute a waiver of Tenant’s right to receive notice and an opportunity to purchase the Premises under this paragraph if the terms of such Offer should thereafter be altered in any manner whatsoever and/or with respect to any subsequent bona fide offer to Landlord, its successors and assigns, during the remaining Term of this Lease. In the event Tenant fails (or elects not) to exercise it...
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RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES. ▇. ▇▇▇▇▇ Landlord grants Tenant a right of first refusal to purchase the premises pursuant to this section.
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RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES. Provided Tenant is not in default under the terms of this Lease, Tenant shall have the right of first refusal to purchase the ground leasehold interest and improvements in the Premises. If the Landlord shall receive an unsolicited offer for the purchase of the ground leasehold interest in the Premises which Landlord shall desire to accept (any such offer may include a letter of intent which has not been fully negotiated, the “Offer”), the Landlord shall deliver to the Tenant a notice setting forth the asking price, terms and conditions and proposed purchase agreement (“Sale Terms”). Tenant shall have a period of thirty (30) days from receipt of the Sale Terms in which to deliver to Landlord a signed purchase agreement to purchase the ground leasehold interest in the Premises upon the Sale Terms and the parties shall proceed to closing within ninety (90) days thereafter. If the Tenant fails to deliver the signed purchase agreement within thirty (30) days of receipt of the Sale Terms, the Tenant’s right of first offer shall automatically be terminated. Notwithstanding, if the transfer to an =elated third party who made such unsolicited offer doesn’t close within six (6) months after ▇▇▇▇▇▇’s right of first refusal terminates, then, ▇▇▇▇▇▇’s right of first refusal shall be restored. This right of first refusal shall not apply to a mortgagee or purchaser in foreclosure or subsequent sale by such mortgagee.
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Related to RIGHT OF FIRST REFUSAL TO PURCHASE THE PREMISES

  • Right of First Refusal Unless it shall have first delivered to the Buyer, at least seventy two (72) hours prior to the closing of such Future Offering (as defined herein), written notice describing the proposed Future Offering, including the terms and conditions thereof and proposed definitive documentation to be entered into in connection therewith, and providing the Buyer an option during the seventy two (72) hour period following delivery of such notice to purchase the securities being offered in the Future Offering on the same terms as contemplated by such Future Offering (the limitations referred to in this sentence and the preceding sentence are collectively referred to as the “Right of First Refusal”) (and subject to the exceptions described below), the Company will not conduct any equity financing (including debt with an equity component) (“Future Offerings”) during the period beginning on the Closing Date and ending twelve (12) months following the Closing Date. In the event the terms and conditions of a proposed Future Offering are amended in any respect after delivery of the notice to the Buyer concerning the proposed Future Offering, the Company shall deliver a new notice to the Buyer describing the amended terms and conditions of the proposed Future Offering and the Buyer thereafter shall have an option during the seventy two (72) hour period following delivery of such new notice to purchase its pro rata share of the securities being offered on the same terms as contemplated by such proposed Future Offering, as amended. The foregoing sentence shall apply to successive amendments to the terms and conditions of any proposed Future Offering. The Right of First Refusal shall not apply to any transaction involving (i) issuances of securities in a firm commitment underwritten public offering (excluding a continuous offering pursuant to Rule 415 under the ▇▇▇▇ ▇▇▇) or (ii) issuances of securities as consideration for a merger, consolidation or purchase of assets, or in connection with any strategic partnership or joint venture (the primary purpose of which is not to raise equity capital), or in connection with the disposition or acquisition of a business, product or license by the Company. The Right of First Refusal also shall not apply to the issuance of securities upon exercise or conversion of the Company’s options, warrants or other convertible securities outstanding as of the date hereof or to the grant of additional options or warrants, or the issuance of additional securities, under any Company stock option or restricted stock plan approved by the shareholders of the Company.

  • Right of First Offer Provided that (i) Tenant is not then in default under this Lease, (ii) this Lease is then in full force and effect, (iii) the Tenant named herein has not assigned this Lease or sublet any part of the Leased Premises and is then in actual occupancy of the entire Leased Premises, and (iv) Tenant’s financial condition meets the financial criteria Landlord requires for the lease of such space, if, at any time during the Term, those certain spaces known as Suite 340, 360, and 370 is or will be “available for lease” and Landlord desires to lease such space, Landlord shall notify Tenant. ▇▇▇▇▇▇▇▇’s notice shall identify the space available (the “Offered Space”), set forth the terms and conditions on which it is willing to lease the Offered Space, which may include a term whose expiration date is not coterminous with the Term applicable to the Leased Premises, and the date on which such Offered Space is expected to be available (collectively, the “Terms”). Tenant shall thereupon have the one time right and option to lease the Offered Space for a minimum of three (3) years on the Terms by delivering notice to Landlord within three (3) business days after receipt of Landlord’s notice, time being of the essence. If Tenant elects to lease the Offered Space, it shall, within fifteen (15) business days after such election, enter into an amendment to this Lease on a form prepared by Landlord incorporating the Offered Space as part of the Leased Premises subject to the Terms for a minimum of three years and the Termination Right as provided for in Section 2.N. below shall be null and void. If Tenant shall not elect to lease the Offered Space within such 3-business day period, or fails to enter into such an amendment to this Lease within such 15-day period, then Tenant shall have no further rights under this section with respect to the Offered Space, and Landlord shall be free to lease any or all of such Offered Space to a third party or parties from time to time on such terms and conditions as it may deem appropriate. Space shall not be deemed to be “available for lease” if such space is the subject of any renewal or extension of an expiring lease with a then existing tenant. Landlord shall not be liable to Tenant for any failure to deliver such space as a result of any holdover tenant or other occupant of any Offered Space.

  • Grant of Right of First Refusal Except as provided in Section 12.7 below, in the event the Optionee, the Optionee's legal representative, or other holder of shares acquired upon exercise of the Option proposes to sell, exchange, transfer, pledge, or otherwise dispose of any Vested Shares (the "TRANSFER SHARES") to any person or entity, including, without limitation, any shareholder of the Participating Company Group, the Company shall have the right to repurchase the Transfer Shares under the terms and subject to the conditions set forth in this Section 12 (the "RIGHT OF FIRST REFUSAL").

  • First Right of Refusal If any Partner shall enter into an agreement to sell their ownership interest in the Partnership with an individual or entity that is not a current Partner, the following parties must be given a first right of refusal before such a transaction can take place: