Standard Clauses for use in a purchase and sale agreement for real property that is subject to a third party's right of first refusal. These Standard Clauses make the sale contingent on a waiver of the right of first refusal, require the seller to request a waiver of the right of first refusal, and specify the rights and obligations of the parties if the third party either exercises or waives the right of first refusal or fails to respond to the notice of a proposed sale of the real property. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips.