Grant of Right of First Refusal definition

Grant of Right of First Refusal differentiates the granting document (the “Grant”) from the real estate interest (the right of first refusal) granted by execution and delivery of the document.
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Examples of Grant of Right of First Refusal in a sentence

  • The City maintains a right of first refusal on each City Second Property as set forth in the Grant of Right of First Refusal document (the “GRFR”) executed by the owner granting the City the right to purchase the City Second Property for the price offered by a third-party buyer.

  • If the City does not elect to purchase the City Second Property or assign its right to a qualified buyer during the GRFR Period, then the City will deposit a draft Release of the Grant of Right of First Refusal ("Release") into the closing escrow with the title company.

  • Ordinance #20-985 electing not to proceed with the purchase upon the terms and conditions contained in the offer dated May 5, 2020 on the Sladkey Remainder Parcel pursuant to the Grant of Right of First Refusal and Declaration of Restrictive Covenant pertaining to the twenty acres of real estate commonly known as 7405 S.

  • Grant of Right of First Refusal Each of the Shareholders hereby grants to the other Shareholders and to the Company: the right (but not the obligation) to acquire all or part of the Relevant Shares from the Selling Shareholder(s) upon the occurrence of a Right of First Refusal Event (the "Right of First Refusal") at the price and terms set out in the Right of First Refusal Notice.

  • For example, the "Grant of Right of First Refusal" requirement will remain on City 2nd properties after the City loan release.

  • Consideration of Ordinance #20-981 electing not to proceed with the purchase upon the terms and conditions contained in the offer dated April 13, 2020 on the Sladkey Remainder Parcel pursuant to the Grant of Right of First Refusal and Declaration of Restrictive Covenant pertaining to the twenty acres of real estate commonly known as 7405 S.

  • City has the right to assign its interests under this Grant of Right of First Refusal and/or to designate an individual or entity to exercise its rights under this Grant of Right of First Refusal, provided that any such assignee or designee agrees to perform all of the City's obligations under this Grant of Right of First Refusal.

  • If this Grant of Right of First Refusal is revived as provided under this Paragraph 7, clause (b), then, in addition to City’s rights at law or in equity, City will have the right to accept or reject the bona fide third party offer for the sale that is pending under the terms of Grant of Right of First Refusal under the City’s standard procedure, or require the proposed transferee to grant to City a right of first refusal to purchase this Property using the form of grant acceptable to City.

  • Neither this Grant of Right of First Refusal nor any memorandum hereof may be recorded.

  • Pursuant to the terms of an Agreement of Purchase and Sale and Grant of Right of First Refusal made effective July 19, 2004 between EMC and Xxxxxxx X.

Related to Grant of Right of First Refusal

  • Right of First Refusal means the Company’s right of first refusal described in Section 8.

  • Right of First Refusal Agreement means the Right of First Refusal Agreement, dated as of August 4, 2017, among the Partnership, the Operating Partnership and NextEra Energy Resources, LLC.

  • Right of First Offer shall have the meaning set forth in Section 13.1 hereof.

  • Right of First Refusal and Co-Sale Agreement means the agreement among the Company, the Purchasers, and certain other stockholders of the Company, dated as of the date of the Initial Closing, in the form of Exhibit F attached to this Agreement.

  • First Refusal Right means the right granted to the Corporation in accordance with Article E.

  • Right of Repurchase means the Company’s right of repurchase described in Section 7.

  • Right of Co-Sale means the right, but not an obligation, of an Investor to participate in a Proposed Key Holder Transfer on the terms and conditions specified in the Proposed Transfer Notice.

  • right of use means any right we have to use, in our own name and on our own account or the account of another counterparty, financial instruments received by us by way of collateral under a security collateral arrangement between you and us;

  • Right of Reference means a “Right of Reference,” as that term is defined in 21 C.F.R. § 314.3(b) and any comparable right existing under the laws or regulations of any foreign country.

  • Registration Rights means the rights of the Holders to cause the Company to Register Registrable Securities pursuant to this Agreement.

  • Repurchase Right means the right granted to the Corporation in accordance with Article D.

  • Transfer Restriction means any condition to or restriction on the ability of the Subscriber to pledge, sell, assign or otherwise transfer the Shares under any organizational document, policy or agreement of, by or with the Company, but excluding the restrictions on transfer described in paragraph 6(c) of this Subscription Agreement with respect to the status of the Shares as “restricted securities” pending their registration for resale or transfer under the Securities Act in accordance with the terms of this Subscription Agreement.

  • Repurchase Option has the meaning set forth in Section 1.3(a) hereto.

  • Transfer Restrictions means restrictions that prohibit the sale, exchange, transfer, assignment, pledge, hypothecation, fractionalization, hedge or other disposal (including through the use of any cash-settled instrument), whether voluntarily or involuntarily by the Grantee, of an Award or any shares of Common Stock, cash or other property delivered in respect of an Award.

  • Assignment of Rents means an instrument that transfers the beneficial interest under a deed of trust from one lender/entity to another.

  • right of access means the right to be admitted to invest in the territory of the other Contracting Party, subject to the limits resulting from international agreements binding on both Contracting Parties.

  • Existing Transfer Restrictions means Transfer Restrictions existing with respect to any securities by virtue of the fact that Counterparty may be an “affiliate” of the Issuer (as such term is defined in Rule 144 under the Securities Act).

  • Grant Offer Letter means the letter the Authority issued to the Grant Recipient dated [ ], a copy of which is set out in Annex 1 Part A;

  • Transfer Restriction Event shall have the meaning specified in Section 2.11.

  • Registration Rights Agreement means the Registration Rights Agreement, dated the date hereof, among the Company and the Purchasers, in the form of Exhibit B attached hereto.

  • Shareholders Agreement shall have the meaning set forth in the Recitals.

  • Non-transferability means the occurrence of any event that makes it impossible for the Issuer to deliver Renminbi between accounts inside Hong Kong or from an account inside Hong Kong to an account outside Hong Kong, other than where such impossibility is due solely to the failure of the Issuer to comply with any law, rule or regulation enacted by any Governmental Authority (unless such law, rule or regulation is enacted after the Issue Date and it is impossible for the Issuer, due to an event beyond its control, to comply with such law, rule or regulation).

  • Secondary Refusal Right means the right, but not an obligation, of each Investor to purchase up to its pro rata portion (based upon the total number of shares of Capital Stock then held by all Investors) of any Transfer Stock not purchased pursuant to the Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.

  • Original Holder shall have the meaning given in the Recitals.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Assignment of Rents and Leases means, with respect to the Mortgaged Property, an Assignment of Rents and Leases (and, if there are more than one, each and every one of them), dated as of the Closing Date, granted by the Borrower to Lender with respect to the Leases, as same may thereafter from time to time be supplemented, amended, modified or extended.