Right of First Refusal (ROFR)
Gridlync land and infrastructure glossary.
A right of first refusal gives a party the chance to match a third-party offer before the owner can sell or lease a property to someone else. It is common in land and lease agreements to protect an operator’s position. When the owner receives a bona fide third-party offer, the ROFR holder gets a set window to match it and take the deal, or decline and let the sale proceed. It lets an operator protect a strategic parcel without committing to buy until a sale is actually on the table.
ROFRs are deadline-driven rights buried in agreements. Gridlync surfaces them so they are exercised on time rather than missed.
Example
Granite Energy holds a right of first refusal on the Doyle family ranch where its substation sits. When the Doyles get a $2.4 million offer from a developer, Granite has 30 days to match it and buy the land itself, which it does.