Common use of Company’s Exercise of Right Clause in Contracts

Company’s Exercise of Right. Upon receipt of a notice of a proposed Transfer, the Company shall have the right to purchase the portion of the Selling Member’s Units that are the subject of the Transfer (i) at the price set forth in the Proposed Transfer Notice in the case of a third-party offer pursuant to Section 11.2(b); or (ii) in the case of all other Proposed Transfers, unless otherwise specifically excepted herein the Purchase Price determined by an Appraiser selected by agreement of Selling Member and the Company. The Company and the Selling Member shall select the Appraiser within ten (10) days following the Company's receipt of the Proposed Transfer Notice. The Appraiser shall have fifteen (15) days from the date of his appointment to determine the Purchase Price for the Selling Member's Units. The determination of the Purchase Price by the Appraiser shall be conclusive and binding upon the Selling Member and the Company. The Company’s right to purchase shall be exercisable by delivering a written notice (the “Company Exercise Notice”) to the Selling Member within thirty (30) days of the date the Appraiser determines the purchase price.