Death of Member. (i) Upon the Company’s receipt of notice of the death of a Member, the Company shall have an option to purchase all, but not less than all, of the deceased Member’s Units for the appraised value as determined in Section 9.3(b) above and upon the other terms and conditions provided in Sections 9.3(c) and 9.3(d) by giving an Acceptance Notice to the decedent’s estate and his or her executors, administrators, legal representatives and/or such parties’ successors in interest (the “Personal Representative”). The Personal Representative shall have a period of twelve months to respond to the offer from the Company.
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement (Lincolnway Energy, LLC), Operating Agreement (Lincolnway Energy, LLC)
