Nonexercise Clause Samples

Nonexercise. If the Company elects not to purchase all of the interest specified in the Sale Notice, the Transferring Member may Transfer all of such interest to the transferee named in the Sale Notice on exactly the terms and conditions specified in the Sale Notice, within thirty days after the expiration of the Company's right to purchase such interest; provided that the requirements of section 7.1, 7.2 and 7.3 shall have been fully satisfied. If such interest is not so transferred within such time, any other or subsequent Transfer of such interest by such Transferring Member shall be subject to this section 7 as if no Sale Notice had ever been given.