Examples of Electing Member in a sentence
To the extent the procedure described in the preceding sentence does not result in the sale of all Unsubscribed Tag Along Securities, such procedure shall be repeated until no Fully Electing Member has further elected to sell any then remaining Unsubscribed Tag Along Securities as set forth in this Section 9.3(b), in which case the Tag Along Selling Member shall be entitled to sell all such remaining Unsubscribed Tag Along Securities.
If an Electing Member desires to purchase, then such Electing Member shall give a written notice to the Defaulting Member of its election to purchase within such thirty (30) day election period (the “Final Election Notice”).
The appraiser or appraisers appointed under this Section 15.6D(1)(a) shall be instructed to complete their appraisals within thirty (30) days of their appointments, and to appraise only the Interest Fair Market Value as of the date of the last Default Buy Out Notice delivered by an Electing Member.
If there is more than one (1) Electing Member, then the Electing Members shall participate in the purchase of the Defaulting Member’s Interest under this Section 15.6 in accordance with their relative Percentage Interests (or in such other percentage as is agreed to by such Electing Members).
An Electing Member that elects to fund a Call Deficiency may do so by either making a loan to the Failing Member in accordance with Section 7.3(a)(i), or making an Additional Capital Contribution pursuant to Section 7.3(a)(ii) (a “Deficiency Capital Contribution”).