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Right Of First Refusal Agreement
"I need a Right of First Refusal Agreement under Singapore law for my commercial property at 123 Orchard Road, giving my current tenant the first right to purchase the property if I decide to sell within the next 5 years starting from January 2025."
1. Parties: Identifies and defines the contracting parties
2. Background: Sets out the context and purpose of the ROFR agreement
3. Definitions: Defines key terms used tHRoughout the agreement
4. Grant of ROFR: Core provision establishing the right of first refusal
5. ROFR Process: Details the procedure for exercising the ROFR
6. Duration: Specifies the term of the ROFR
7. Governing Law: Specifies Singapore law as governing law
1. Asset Description: Detailed description of the asset subject to ROFR - use when the ROFR relates to specific assets
2. Consideration: Payment terms for the ROFR - use when there is a fee for granting the ROFR
3. Assignment: Rights to transfer the ROFR to other parties - use when transfer rights are relevant
4. Confidentiality: Obligations to keep information confidential - use when sensitive information is involved
1. Asset Schedule: Detailed description of assets subject to ROFR
2. ROFR Notice Format: Template for notices related to exercising the ROFR
3. Pricing Mechanism: Details of how price will be determined when ROFR is exercised
4. Permitted Transferees: List of entities to whom ROFR rights may be assigned
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