Common use of Closing of Purchase Rights Clause in Contracts

Closing of Purchase Rights. In the event of the exercise of purchase rights pursuant to Section 11.5. (any such event a "Purchase"), the Purchase shall be consummated by appropriate and customary documentation (including customary representations and warranties) as soon as practicable and in any event within the applicable time period specified in Section 11.5 or Section 11.8. The Partners entitled or obligated to Purchase shall have the right to transfer or assign, in whole or in part, its right or obligation to Purchase to an Affiliate or to a third party.