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.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (RiceBran Technologies), Limited Liability Company Agreement (Nutracea), Limited Liability Company Agreement (Nutracea)
Election to Purchase Less. than Than All of the Former Member’s '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 will purchase any remaining share of the Former Member’s 's Interest.
Appears in 3 contracts
Samples: Operating Agreement (Claxson Interactive Group Inc), Operating Agreement (Playboy Enterprises Inc), Operating Agreement (Playboy Enterprises Inc)
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 shall purchase any remaining share of the Former Member’s Interest.
Appears in 1 contract
Election to Purchase Less. than Than All of the Former Member’s '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 may 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. Any purchase of a Former Member's Interest must be the entire interest.
Appears in 1 contract
Election to Purchase Less. than Than All of the Former Member’s '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 shall purchase any remaining share of the Former Member’s 's Interest.
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