A Right of First Refusalestablishes a process whereby the landlord will first have consummated the lease terms with another agreement, but before he signs the lease, you have the right to refuse that lease and then lease it yourself under the terms the landlord negotiated with the other tenant.You in essence have no bargain in the deal, just take it or leave it. Some ROFR’s also state the fixed terms the expanding tenant will enjoy, thereby forcing the landlord to seek other tenants at their negotiated terms while knowing about the existing terms.
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