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Right Of First Refusal Agreement

Right Of First Refusal Agreement Template for Austria

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Key Requirements PROMPT example:

Right Of First Refusal Agreement

"I need a Right of First Refusal Agreement under Austrian law for a commercial property in Vienna, where my company wants first rights to purchase the adjacent warehouse unit if the current owner decides to sell anytime before March 2025."

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Document background
The Right of First Refusal Agreement is a strategic legal instrument commonly used in Austrian business and real estate transactions to secure preferential rights for potential future transactions. This document is essential when parties wish to establish a structured framework for future business opportunities while maintaining current ownership arrangements. It is particularly relevant in scenarios involving real estate transactions, business sales, shareholding transfers, or commercial lease arrangements. The agreement, governed by Austrian law, typically specifies trigger events, notice requirements, exercise periods, and pricing mechanisms. It provides the holder with a valuable right to match any third-party offer before the grantor can proceed with the transaction, while giving the grantor the flexibility to still pursue market opportunities. The document must comply with Austrian civil and commercial law requirements, including specific formalities for real estate transactions where applicable.
Suggested Sections

1. Parties: Identification and details of the contracting parties (Grantor and Holder of the right of first refusal)

2. Background: Context of the agreement and relationship between the parties

3. Definitions: Definitions of key terms used throughout the agreement

4. Grant of Right: Clear statement of the right of first refusal being granted and the subject matter

5. Scope of Right: Detailed description of what triggers the right and what assets/rights are covered

6. Notice Requirements: Process for notifying the holder when the right is triggered, including timing and format requirements

7. Exercise Procedure: Steps and timeframe for exercising the right of first refusal

8. Purchase Price and Payment Terms: How the purchase price will be determined and payment conditions

9. Duration: Term of the agreement and any renewal provisions

10. Transfer Restrictions: Limitations on transfer of the subject matter during the agreement term

11. Representations and Warranties: Standard representations and warranties from both parties

12. Governing Law and Jurisdiction: Specification of Austrian law and competent courts

13. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments

Optional Sections

1. Real Estate Provisions: Additional provisions required when the right relates to real property, including land register requirements

2. Corporate Approval Requirements: Required when the agreement involves corporate entities and specific approval processes

3. Financing Provisions: Terms regarding financing arrangements for potential purchase

4. Tag-Along Rights: Additional rights for the holder to participate in sales to third parties

5. Confidentiality: Provisions for keeping the agreement and its terms confidential

6. Competition Law Compliance: Required when the agreement might have competition law implications

7. Force Majeure: Provisions for unforeseen circumstances affecting the exercise of rights

8. Special Termination Rights: Additional termination provisions beyond standard term

Suggested Schedules

1. Description of Subject Matter: Detailed description of the asset(s) subject to the right of first refusal

2. Notification Form: Template for the notification of intent to sell

3. Exercise Notice: Template for exercising the right of first refusal

4. Valuation Methodology: Detailed procedures for determining the purchase price if not based on third-party offer

5. Corporate Resolutions: Copies of relevant corporate approvals, if applicable

6. Power of Attorney: If required for certain actions under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



























Clauses































Relevant Industries

Real Estate

Commercial Property

Retail

Manufacturing

Technology

Professional Services

Agriculture

Energy

Construction

Hospitality

Investment & Financial Services

Family Business

Private Equity

Venture Capital

Relevant Teams

Legal

Business Development

Real Estate

Corporate Development

Mergers & Acquisitions

Finance

Commercial

Investment

Property Management

Executive Leadership

Contract Management

Corporate Secretariat

Relevant Roles

Chief Executive Officer

Managing Director

Legal Counsel

Corporate Lawyer

Business Development Manager

Real Estate Manager

Property Director

Investment Manager

Commercial Director

Chief Financial Officer

Head of Mergers & Acquisitions

Asset Manager

Contract Manager

Company Secretary

Board Member

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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