Election Period; Option Acquire Clause Samples

Election Period; Option Acquire. At any time during the period commencing on the date that the Electing Member delivers written notice pursuant to Section 3.7.2 to the Company and to the other Class A Member confirming the Electing Member’s bona fide desire to proceed with the Excluded Facility, and ending 90 calendar days after an Excluded Facility has been constructed and has commenced commercial production of Products (during the “Election Period”), the Company shall have the right to acquire the Excluded Facility. The Electing Member hereby grants the Company the right to acquire the Exclude Facility, and agrees to transfer the Excluded Facility to the Company, on the terms and conditions set forth below. During the Election Period, the Electing Member shall provide both the Company and the other Class A Member with access to all of the books and records related to the Excluded Facility, and shall provide all information reasonably requested regarding the development of the Excluded Facility, its marketing plans, its target customers, and such other information as they may reasonably request, all for the purposes of evaluating the possible acquisition by the Company of the Excluded Facility.