Common use of Election to Purchase Less Than All of the Former Member’s Interest Clause in Contracts

Election to Purchase Less Than All of the Former Member’s Interest. If any Remaining Member elects to purchase none or less than all of his or her pro rata share of the Former Member’s Interest, then the Remaining Members can elect to purchase more than their pro rata share. If the Remaining Members fail to purchase the entire interest of the Former Member, the Company may purchase any remaining share of the Former Member’s Interest.

Election to Purchase Less Than All of the Former Member’s Interest. If any Remaining Member elects to purchase none or less than all of his or her its pro rata share of the Former Member’s Interest, then the Remaining Members can elect to purchase more than their pro rata share. If the Remaining Members fail to purchase the entire interest of the Former Member, the Company may will purchase any remaining share of the Former Member’s Interest.

Election to Purchase Less Than All of the Former Member’s Interest. If any Remaining Member elects to purchase none or less than all of his or her pro rata share of the Former Member’s 's Interest, then the Remaining Members can elect to purchase more than their pro rata share. If the Remaining Members fail to purchase the entire interest of the Former Member, the Company may [may] [shall] purchase any remaining share of the Former Member’s 's Interest. [Any purchase of a Former Member's Interest must be the entire interest.]

Election to Purchase Less Than All of the Former Member’s Interest. If any Remaining Member elects to purchase none or less than all of his or her pro rata share of the Former Member’s Interest, then the Remaining Members can elect to purchase more than their pro rata share. If the Remaining Members fail to purchase the entire interest of the Former Member, the Company may [may] [shall] purchase any remaining share of the Former Member’s Interest. [Any purchase of a Former Member’s Interest must be the entire interest.]

Election to Purchase Less Than All of the Former Member’s Interest. If the Company elects to purchase none or less than all of the Former Member’s Interest, then the Remaining Members may purchase their pro rata share of the remaining portion. If any Remaining Member elects to purchase none or less than all of his or her its pro rata share of the Former Member’s Interest, then the other Remaining Members can may elect to purchase more than their pro rata share. If the Remaining Members fail and the Company elects not to purchase the entire interest of the Former Member, the Company may purchase any remaining share all of the Former Member’s Interest, the unpurchased portion of the Former Member’s Interest shall convert to that of an Economic Interest.

Election to Purchase Less Than All of the Former Member’s Interest. If any Remaining Member elects to purchase none or less than all of his or her its pro rata share of the Former Member’s 's Interest, then the Remaining Members can elect to purchase more than their pro rata share. If the Remaining Members fail to purchase the entire interest of the Former Member, the Company may shall purchase any remaining share of the Former Member’s 's Interest.

Election to Purchase Less Than All of the Former Member’s Interest. If any Remaining Member elects to purchase none or less than all of his or her pro rata share of the Operating Agreement for Xxxxxx Quality, LLC Former Member’s Interest, then the Remaining Members can elect to purchase more than their pro rata share. If the Remaining Members fail to purchase the entire interest of the Former Member, the Company may shall purchase any remaining share of the Former Member’s Interest.

Election to Purchase Less Than All of the Former Member’s Interest. If any Remaining Member elects to purchase none or less than all of his or her its pro rata share of the Former Member’s Interest, then the Remaining Members can elect to purchase more than their pro rata share. If the Remaining Members fail to purchase the entire interest of the Former Member, the Company may shall purchase any remaining share of the Former Member’s Interest.

Election to Purchase Less Than All of the Former Member’s Interest. If any Remaining Member elects to purchase none or less than all of his or her pro rata share of the Former Member’s 's Interest, then the Remaining Members can elect to purchase more than their pro rata share. If the Remaining Members fail to purchase the entire interest of the Former Member, the Company may purchase any remaining share of the Former Member’s 's Interest.