- Nov 15, 2008
Here is the actual language. From RIV POS.I get that they step in as the buyer, but is this outlined in more detail somewhere? I'm asking because our contract has an assignability of contract clause that states "this contract is not assignable". I thought that meant that the contract must stay between the original parties i.e. if ROFR was exercised, the original contract wouldn't matter anymore.
Our contract also mentions that Disney may exercise their ROFR, but it doesn't really clarify what that means. I would think this would be a good place to have something stating that Disney steps in as the buyer and agrees to all terms of the original contract. Maybe other contracts are clearer.