Agreement for the Sale and Purchase of Membership Interest. If the Change in Control Member elects to purchase the Buy/Sell Member’s Membership Interest, the Buy/Sell Member shall be required to sell, and the Change in Control Member shall be required to purchase, all of the Buy/Sell Member’s Membership Interest at the Buy/Sell Purchase Price, pursuant to Section 21.6.4. If the Change in Control Member (i) elects to sell all of its Membership Interest to the Buy/Sell Member or (ii) fails to deliver the Buy/Sell Notice to the Buy/Sell Member within such ninety (90) day period, the Buy/Sell Member shall be required to purchase, and the Change in Control Member shall be required to sell, all of the Change in Control Member’s Membership Interest at the Buy/Sell Purchase Price, pursuant to Section 21.6.4. In either event, an agreement for the sale and purchase of the Membership Interest shall be deemed to exist between the Change in Control Member and the Buy/Sell Member as a result of the Buy/Sell Option.
Appears in 4 contracts
Samples: Operating Agreement (Caterpillar Inc), Truck Business Relationship Agreement (Navistar International Corp), Joint Venture (Navistar International Corp)
