Right of First Refusal means the right, but not an obligation, of the Company, or its permitted transferees or assigns, to purchase some or all of the Transfer Stock with respect to a Proposed Key Holder Transfer, on the terms and conditions specified in the Proposed Transfer Notice.
Examples of Right of First Refusal in a sentence
The contracting officer shall in- sert the FAR clause at 52.207–3, Right of First Refusal of Employment, and the clause at 852.207–70, Report of em- ployment under commercial activities, in all RFQs, solicitations, and con- tracts issued under the authority of 38U.S.C. 8151–8153 which may result in a conversion, from in-house performance to contract performance, of work cur- rently being performed by Department of Veterans Affairs employees.
More Definitions of Right of First Refusal
Right of First Refusal or "ROFR" means the right given to the InvIT by a person to enter into a transaction with it before the person is entitled to enter that transaction with any other party;