Other Members. If the Company does not exercise its option to purchase all of the interest under Section 7.05A, for thirty (30) days after expiration of the Company's option or notice of the Company's intention not to exercise the option as to all or part of the interest, whichever occurs earlier, the other Member shall have an option to purchase all of the remaining interest of the terminated Manager/Member at the price and on the terms provided in Article 8.
Appears in 1 contract
Samples: Security Agreement
Other Members. If the Company does not exercise its option to purchase all of the interest under Section 7.05A7.04A, for thirty (30) days after expiration of the Company's option or notice of the Company's intention not to exercise the option as to all or part of the interest, whichever occurs earlier, the other Member Members shall have an option to purchase all of the remaining interest of owned by the terminated Manager/Bankrupt Member at the price and on the terms provided in Article 8. Those Members electing to purchase the remaining interest shall do so in proportion to their share ownership, or as they shall otherwise agree.
Appears in 1 contract
Samples: Security Agreement
Other Members. If the Company does not exercise its option to purchase all of the interest under Section 7.05A7.06A, for thirty (30) days after expiration of the Company's option or notice of the Company's intention not to exercise the option as to all or part of the interest, whichever occurs earlier, the other Member Members shall have an option to purchase all of the remaining interest of subject to the terminated Manager/Member option at the price and on the terms provided in Article 88 or the price stated by the third party purchaser if less. Those Members electing to purchase the remaining interest shall do so in proportion to their share ownership, or as they shall otherwise agree.
Appears in 1 contract
Samples: Security Agreement
Other Members. If the Company does not exercise its option to purchase all of the interest under Section 7.05A7.03B, for thirty (30) days after expiration of the Company's option or notice of the Company's intention not to exercise the option as to all or part of the interest, whichever occurs earlier, the other Member Members shall have an the option to purchase all of the remaining interest of owned by the terminated Manager/Member former spouse at the price and on the terms provided in Article 8. Those Members electing to purchase the remaining interest shall do so in proportion to their share ownership, or as they shall otherwise agree.
Appears in 1 contract
Samples: Security Agreement