Second Option. The Partnership shall have an additional sixty (60) days after the expiration of the two option periods set forth in Section 9.5 to elect to purchase all or part of the interest in the Partnership of the Transferor Partner not purchased pursuant to the First Option, at the Offer Price or, if there is no Written Offer, at the Transfer Price. The interest in the Partnership so purchased from a Transferor Partner, including the related Partnership Percentage and Capital Account, shall be allocated among all of the then remaining Partners, who shall succeed to such interest as an interest of the same class held by such remaining Partners. In the event a Transferor Partner has given notice of his intention to sell his entire interest in the Partnership without a Written Offer, it being the Transferor Partner's intention to withdraw from the Partnership, the exercise of the Second Option shall be mandatory with respect to any portion of the Transferor Partner's interest in the Partnership not purchased pursuant to the First Option, and the Partnership shall exercise its Second Option with respect to any portion of the Transferor Partner's interest in the Partnership not purchased pursuant to the First Option.
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Sources: Partnership Agreement (Gidwitz Ronald J), Partnership Agreement (Gidwitz James G)
Second Option. The Partnership shall have an additional sixty (60) days after the expiration of the two option periods set forth in Section 9.5 to elect to purchase all or part of the interest in the Partnership of the Transferor Partner not purchased pursuant to the First Option, at the Offer Price or, if there is no Written Offer, at the Transfer Price. The interest in the Partnership so purchased from a Transferor Partner, including the related Partnership Percentage and Capital Account, shall be allocated among all of the then remaining Partners, who shall succeed to such interest as an interest of the same class held by such remaining Partners. In the event a Transferor Partner has given notice of his intention to sell his entire interest in the Partnership without a Written Offer, it being the Transferor Partner's intention to withdraw from the Partnership, the exercise of the Second Option shall be mandatory with respect to any portion of the Transferor Partner's interest in the Partnership not purchased pursuant to the First Option, and the Partnership shall exercise its Second Option with respect to any portion of the Transferor Partner's interest in the Partnership not purchased pursuant to the First Option.
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