Common use of Right of Preemption Clause in Contracts

Right of Preemption. The Other Shareholders will have a right of preemption to purchase all, but not less than all, of the Transferor’s Shares so offered to them, such right to be exercised within 30 days of the date of the Transferor’s Offer by notice in writing to the Transferor, it being understood that the Other Shareholders may freely transfer among them their right of preemption.