Application of Provisions. The Members acknowledge and agree that if either Member has timely and validly delivered an Election Notice to the other Member and initiated the buy/sell procedures set forth in this Article VIII, then such other Member shall be precluded from delivering an Election Notice unless such buy/sell procedure has been terminated. ARTICLE IX REPRESENTATIONS,
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Tejon Ranch Co), Limited Liability Company Agreement (Tejon Ranch Co)
Application of Provisions. The Members acknowledge and agree that if either Member has timely and validly delivered an Election Notice to the other Member and initiated the buy/sell procedures set forth in this Article VIII, then such other Member shall be precluded from delivering an Election Notice unless such buy/sell procedure has been terminated. ARTICLE IX REPRESENTATIONS,.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Tejon Ranch Co), Limited Liability Company Agreement (Tejon Ranch Co)