ROFO vs. ROFR: What’s the Difference?
When negotiating a commercial lease, many tenants seek a preferential right to lease additional space in a building. This may be because the tenant wanted additional space when signing the initial lease but such space was not available, or the tenant may simply be...
ROFOs and ROFRs – Traps for the Unwary
Purchase Options: Traps for the Unwary In the realm of commercial real estate, the terms Right of First Offer (ROFO) and Right of First Refusal (ROFR) are commonplace, often finding their way into leases and other agreements. At first glance, these rights might seem...