First Refusal Agreement Template for Denmark

First Refusal Agreements are crucial instruments in Danish business and property transactions, providing a structured framework for securing preferential rights in future dealings. These agreements are particularly valuable when parties want to maintain strategic control over asset transfers or business ownership changes while ensuring compliance with Danish legal requirements. The document typically includes detailed provisions on triggering events, notice requirements, exercise procedures, and pricing mechanisms. Under Danish law, a First Refusal Agreement must carefully balance the interests of all parties while ensuring enforceability and clarity in its terms. The agreement can be tailored to various contexts, from real estate transactions to corporate share transfers, and must account for relevant sector-specific regulations and registration requirements where applicable.

1. Parties: Identification of the grantor of the right of first refusal and the beneficiary

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

3. Definitions: Key terms used throughout the agreement, including 'Offer', 'Subject Matter', 'Exercise Period', etc.

4. Grant of Right of First Refusal: Core provision establishing the right of first refusal and its scope

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

6. Triggering Events: Circumstances that activate the right of first refusal

7. Notice Requirements: Procedures for notifying the beneficiary of a triggering event and third-party offer

8. Exercise Procedure: Process and timeframe for exercising the right of first refusal

9. Purchase Price and Payment Terms: Determination of purchase price and payment conditions upon exercise

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

11. Termination: Circumstances under which the agreement may be terminated

12. Governing Law and Jurisdiction: Specification of Danish law as governing law and jurisdiction for disputes

13. Signatures: Execution blocks for all parties