Common use of Sale Notice Clause in Contracts

Sale Notice. Prior to and in order to effect any such Transfer, each Selling Member shall first give written notice (a “First Sale Notice”) to Fiat, each Non-Fiat Member and the Company stating such Selling Member’s intention to effect such a Transfer, the number and type of Membership Interests of the Company subject to such Transfer (the “Offered Securities”), the price and terms which such Selling Member proposes to be paid for the Offered Securities (the “First Offer Price”) and the other material terms upon which such Transfer is proposed. The First Sale Notice may require the consummation of any sale of the Offered Securities to occur no earlier than 90 days and no later than 180 days after the receipt of the First Sale Notice, subject only to any delays necessary to obtain any applicable Governmental Approval, provided that commercially reasonable efforts are used to secure such Governmental Approval.

Sale Notice. Prior to and in order to effect any such Transfer, each Selling Member shall first give written notice (a “"First Sale Notice”") to Fiat, each Non-Fiat Member and the Company stating such Selling Member’s 's intention to effect such a Transfer, the number and type of Membership Interests of the Company subject to such Transfer (the “"Offered Securities”"), the price and terms which such Selling Member proposes to be paid for the Offered Securities (the “"First Offer Price”Price ") and the other material terms upon which such Transfer is proposed. The First Sale Notice may require the consummation of any sale of the Offered Securities to occur no earlier than 90 days and no later than 180 days after the receipt of the First Sale Notice, subject only to any delays necessary to obtain any applicable Governmental Approval, provided that commercially reasonable efforts are used to secure such Governmental Approval.