Closing Mechanics on Exit Provision in a 50/50 Real Estate Joint Venture | Practical Law
Closing mechanics clauses for buy/sell and right of first offer (ROFO) provisions in real estate joint venture (JV) agreements. These Standard Clauses can be used in a limited liability company (LLC) operating agreement for a real estate JV formed between two members each holding a 50% interest. These Standard Clauses contain integrated notes with important explanations and drafting and negotiating tips for both members.