Common use of Exercise of Clause in Contracts

Exercise of. Tag-Along Right." (i) Transfers by the Majority Member. In the event that Charter Inc.'s or Crescent Operating's Percentage Interest in the Company decreases to less than 25%, the other party (the "Majority Member") shall not Transfer all or part of its Interest without complying with the provisions of this Section 12.10(a). If the Majority Member desires to Transfer all or part of its Interest (the "Offered Interest") to a proposed transferee, each of the other Members (a "Remaining Member") may elect (the "Tag-Along Right") to sell to such proposed transferee, on the same terms, consideration (on a Percentage Interest basis) and conditions as were offered to the Majority Member, all of the Interest then owned by each Remaining Member (if the Majority Member is proposing to sell all of its Interest) or a portion of its Interest (if the Majority Member is proposing to sell less than all of its Interest) in the same proportion as the Interest proposed to be sold by the Majority Member.

Exercise of. Tag-Along Right." (i) Transfers by the Majority Member. In the event that Charter Inc.Magellan's or Crescent OperatingCrescent's Percentage Interest in the Company decreases to less than 25%, the other party (the "Majority Member") shall not Transfer all or part of its Interest without complying with the provisions of this Section 12.10(a). If the Majority Member desires to Transfer all or part of its Interest (the "Offered Interest") to a proposed transferee, each of the other Members (a "Remaining Member") may elect (the "Tag-Along Right") to sell to such proposed transferee, on the same terms, consideration (on a Percentage Interest basis) and conditions as were offered to the Majority Member, all of the Interest then owned by each Remaining Member (if the Majority Member is proposing to sell all of its Interest) or a portion of its Interest (if the Majority Member is proposing to sell less than all of its Interest) in the same proportion as the Interest proposed to be sold by the Majority Member.