Common use of Exercise of the Call Option Clause in Contracts

Exercise of the Call Option. Upon the occurrence of the Call Event, Buyer shall exercise the Call Option by delivery of written notice thereof together with the Purchase Price. Within five (5) business days of receipt of the Purchase Price, the Seller shall deliver to Buyer an executed written assignment of the Partnership Interest in a form reasonably acceptable to the parties. Notwithstanding the foregoing, if the Call Option is exercised pursuant to the provisions of this Agreement, such transaction shall be effective upon receipt of the Purchase Price by Seller.

Exercise of the Call Option. Upon the occurrence of the Call Event, Buyer shall exercise the Call Option by delivery of written notice thereof together with the Purchase Price. Within five (5) business days of receipt of the Purchase Price, the Seller shall deliver to Buyer an executed written assignment of the Partnership Membership Interest in a form reasonably acceptable to the parties. Notwithstanding the foregoing, if the Call Option is exercised pursuant to the provisions of this Agreement, such transaction shall be effective upon receipt of the Purchase Price by Seller.