Common use of Election of Form of Payment Clause in Contracts

Election of Form of Payment. If as a result of the prorations and apportionments set forth in Section 12.01, the Transferor Members owe an amount to the BRI Partnership, the Transferor Members shall have the right to elect to adjust for such amounts owing by the Transferor Members to the BRI Partnership in the form of BRI Partnership Units rather than

Election of Form of Payment. If as a result of the prorations and apportionments set forth in Section 12.01, the Transferor Members owe an amount to the BRI Partnership, the Transferor Members shall have the right to elect to adjust for such amounts owing by the Transferor Members to the BRI Partnership in the form of BRI Partnership Units rather thanthan cash. In addition, if as a result of the prorations and apportionments set forth in Section 12.01, the BRI Partnership owes an amount to the Transferor Members, such amount shall be paid in the form of BRI Partnership Units rather than cash, if the Transferor Members have elected under Section 2.02