Common use of Transfer to Third Party Clause in Contracts

Transfer to Third Party. If the Company and the Non-Disposing Members have not collectively purchased all of the Disposing Members’ Units covered by the Disposition Notice within the first one hundred (100) days of the Notice Period, the Disposing Member may, provided the conditions of Section 11.3 are satisfied, sell its or his remaining Units to Persons other than the Company and the Non-Disposing Members, provided that any disposition must be made on the terms and conditions and to the party specified in the Disposition Notice and must be consummated within the one hundred twenty (120) day Notice Period, but after any time provided above for the Company and/or Non-Disposing Members to elect to purchase and consummate the purchase of such Units.

Transfer to Third Party. If the Company and the Non-Disposing Members have not collectively purchased all of the Disposing Members’ Units covered by the Disposition Notice within the first one hundred (100) days of the Notice Period, the Disposing Member may, provided the conditions of Section 11.3 are satisfied, sell its or his remaining Units to Persons other than the Company and the Non-Disposing Members, ; provided that any disposition must be made on the terms and conditions and to the party specified in the Disposition Notice and must be consummated within the one hundred twenty (120) day Notice Period, but after any time provided above for the Company and/or Non-Disposing Members to elect to purchase and consummate the purchase of such Units.