Common use of Option of Change in Control Member Clause in Contracts

Option of Change in Control Member. No later than ninety (90) days following the Change in Control Member’s receipt of a Valuation Notice, the Change in Control Member shall deliver written notice (the “Buy/Sell Notice”) to the Buy/Sell Member of its decision whether, at its sole option (but it must select to either purchase or sell), to (i) purchase all (but not less than all) of the Buy/Sell Member’s Membership Interest in the Company, or (ii) sell all (but not less than all) of the Change in Control Member’s Membership Interest in the Company, each transaction to be effected at a purchase price (the “Buy/Sell Purchase Price”) equal to the Valuation Price multiplied by the Seller Member’s Percentage Interest (the “Buy/Sell Option”).