onsummation Clause Samples

onsummation. On the election of the Company to purchase the interest specified in the Sale Notice, the Directors shall cause the Company to pay the purchase price as provided in subsection 7.4.2 on the other terms and conditions stated in the Sale Notice. On any purchase by the Company under this section 7.4, the consideration to be paid shall be paid to the Transferring Member or such Member's Successor, if any. If the Transferring Member shall have died, the decedent's Successor shall apply for and obtain any necessary court approval or confirmation of the sale pursuant to this section 7.4 and, notwithstanding any other provision of this Agreement to the contrary, if such court approval is necessary to authorize the sale, the other rights and obligations of all parties under this section 7.4 shall be postponed until such approval is obtained. On the Company's exercise of its option under this section 7.4, the Company and the Transferring Member or the Transferring Member's Successor shall do all things and execute and deliver all papers as may be necessary to consummate fully such purchase and sale in accordance with this Agreement.