It seems more a weird spin on right of first refusal that is added to the original sales contract. It’s a ROFR with a pre-negotiated price. The pre- negotiate

It seems more a weird spin on right of first refusal that is added to the original sales contract. It’s a ROFR with a pre-negotiated price. The pre- negotiated price is the odd part. Generally a first refusal gives the ROFR holder the right to buy the asset at the selling price the other buyer is willing to pay. This is a bit different.