Common use of Closing of Purchase and Sale Clause in Contracts

Closing of Purchase and Sale. The closing of a purchase and sale pursuant to this Article VII shall be held at the principal office of the Company in California on a Business Day designated by the Non-Defaulting Member that is not later than sixty (60) days after the expiration of the thirty (30)-day period set forth in Section 7.04. The Defaulting Member shall transfer to the purchasing Non-Defaulting Member (or such Member's nominee(s)) the entire Interest of the Defaulting Member free and clear of all liens, security interests, and competing claims and shall deliver to the Non-Defaulting Member (or such Member's nominee(s)) such instruments of transfer and such evidence of due authorization, execution, and delivery, and of the absence of any such liens, security interests, or competing claims as the Non-Defaulting Member (or such Member's nominee(s)) shall reasonably request.

Closing of Purchase and Sale. The closing of a purchase and sale pursuant to this Article VII shall be held at the principal office of the Company in California on a Business Day designated by the Non-Non- Defaulting Member that is not later than sixty (60) days after the expiration of the thirty (30)-day period set forth in Section 7.04. The Defaulting Member shall transfer to the purchasing Non-Non- Defaulting Member (or such Member's nominee(s)) the entire Interest of the Defaulting Member free and clear of all liens, security interests, and competing claims and shall deliver to the Non-Non- Defaulting Member (or such Member's nominee(s)) such instruments of transfer and such evidence of due authorization, execution, and delivery, and of the absence of any such liens, security interests, or competing claims as the Non-Defaulting Member (or such Member's nominee(s)) shall reasonably request.

Closing of Purchase and Sale. The closing of a purchase and sale pursuant to this Article VII shall be held at the principal office of the Company in California on a Business Day designated by the Non-Defaulting Member that is not later than sixty ninetieth (6090th) days day after the expiration of the thirty (30)-day 30)­day period set forth in Section 7.047.04 (or such earlier date as is determined by the Non-Defaulting Member). The Defaulting Member shall transfer to the purchasing Non-Defaulting Member (or such Member's ’s nominee(s)) the entire Interest of the Defaulting Member free and clear of all liens, security interests, and competing claims and shall deliver to the Non-Defaulting Member (or such Member's ’s nominee(s)) such instruments of transfer and such evidence of due authorization, execution, and delivery, and of the absence of any such liens, security interests, or competing claims as the such Non-Defaulting Member (or such Member's ’s nominee(s)) shall reasonably request.

Closing of Purchase and Sale. The closing of a purchase and sale pursuant to this Article VII VIII shall be held at the principal office of the Company in California Nevada on a Business Day designated by or before the Non-Defaulting Member that is not later than sixty ninetieth (6090th) days day after the expiration of the thirty (30)-day period set forth in Section 7.048.04, or such longer period if reasonably necessary in order to obtain any required bankruptcy court approval. The Defaulting Member shall transfer to the purchasing Non-Defaulting Member (or such Member's nominee(s)) the entire Interest of the Defaulting Member free and clear of all liens, security interests, and competing claims and shall deliver to the Non-Defaulting Member (or such Member's nominee(s)) such instruments of transfer and such evidence of due authorization, execution, and delivery, and of the absence of any such liens, security interests, or competing claims as the such Non-Defaulting Member (or such Member's nominee(s)) shall reasonably request.