SURRENDER, RETURNING AND FIRST RIGHT OF REFUSAL Clause Samples

The 'Surrender, Returning and First Right of Refusal' clause governs the process by which a tenant may give up (surrender) their leasehold interest, the conditions under which leased property must be returned to the landlord, and the landlord's right to be offered the property before it is transferred to another party. Typically, this clause outlines the notice requirements and procedures for surrendering the premises, details the state in which the property must be returned, and specifies that if the tenant wishes to assign or sublet the lease, the landlord has the first opportunity to reclaim or re-lease the property. Its core function is to protect the landlord’s interests by ensuring orderly transitions and giving them priority in regaining control of the property, thereby reducing uncertainty and potential disputes over future occupancy.
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SURRENDER, RETURNING AND FIRST RIGHT OF REFUSAL. The BUYER will notify the BREEDER immediately if BUYER cannot keep the above-described dog with them for any reason. The BREEDER will have right of first refusal before the dog is to be sold, or given away (including to family and friends). The BREEDER will have right of immediate repossession and full legal ownership reverts to the BREEDER of the said dog if BUYER attempts (intentionally or unintentionally) to sell or give away said dog without the BREEDER’s written consent. The BREEDER shall not compensate BUYER in any monetary way. If the dog is sold, BREEDER will retain co-ownership unless prior agreements are made in writing. The BREEDER shall approve all potential homes and sale agreements. In all situations where the dog is returned to BREEDER, BUYER shall sign said dog over to BREEDER in all registries dog is eligible for. If there should be a tragedy of the BUYER such as death or physical inability to care for this puppy/dog, then this puppy/dog is to be immediately surrendered to the BREEDER (unless other suitable arrangements are made in writing with the Breeder). Under no circumstances may this dog be disposed of or surrendered to a Dog Pound, Humane Society, Animal Shelter, and Rescue Organizations, Pet Store, other BREEDER's, or to individuals associated with a suspected or proven puppy mill. The BUYER agrees to pay $2,500 penalty for abandoning the puppy, surrendering it to the Humane Society, Animal Shelter, and Rescue Organizations, or Pet Stores. ▇▇▇▇▇ agrees if the dog is repossessed by Breeder all Paperwork (Registration, Vet records, Microchip), and the dog will be surrender within 7 days if ▇▇▇▇▇ does not comply within the seven-day period a $500.00 a day penalty will occur until possession has been met.
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Related to SURRENDER, RETURNING AND FIRST RIGHT OF 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:

  • Right of Refusal Vendor has the right not to sell to a TIPS Member under the awarded agreement at Vendor’s discretion unless otherwise required by law.

  • General Partner Right of First Refusal The transferring Partner shall give written notice of the proposed transfer to the General Partner, which notice shall state (i) the identity of the proposed transferee, and (ii) the amount and type of consideration proposed to be received for the transferred Partnership Units. The General Partner shall have ten (10) days upon which to give the transferring Partner notice of its election to acquire the Partnership Units on the proposed terms. If it so elects, it shall purchase the Partnership Units on such terms within ten (10) days after giving notice of such election. If it does not so elect, the transferring Partner may transfer such Partnership Units to a third party, on economic terms no more favorable to the transferee than the proposed terms, subject to the other conditions of this Section 11.3.

  • 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").

  • Termination of Right of First Refusal The Right of First Refusal shall terminate as to any Shares upon the earlier of (i) the first sale of Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation has equity securities that are publicly traded.