Common use of Initiating Offer Clause in Contracts

Initiating Offer. A Member may institute a purchase and sale under this Section 4.7 by delivering to another Member a written offer (the “Initiating Offer”) to purchase all of the Membership Interest of the other Member. The Initiating Offer shall set forth the price and other terms and conditions (the “Offer Terms”) on which the offering Member (the “Offering Member”) is willing to buy the other Member’s Membership Interest. Only one Initiating Offer may be outstanding at any given time and such Initiating Offer must be completed prior to another Initiating Offer being issued.

Initiating Offer. A Member may institute a purchase and sale under this Section 4.7 by delivering to another Member a written offer (the “"Initiating Offer”") to purchase all of the Membership Interest of the other Member. The Initiating Offer shall set forth the price and other terms and conditions (the “"Offer Terms”") on which the offering Member (the “"Offering Member”") is willing to buy the other Member’s 's Membership Interest. Only one Initiating Offer may be outstanding at any given time and such Initiating Offer must be completed prior to another Initiating Offer being issued.

Initiating Offer. A Member may institute a purchase and sale under this Section 4.7 by delivering to another Member a written offer (the “Initiating Offer”) to purchase all of the Membership Interest of the other Member. The Initiating Offer shall set forth the price and other terms and conditions (the “Offer Terms”) on which the offering Member (the “Offering Member”) is willing to buy the other Member’s Membership Interest. Only one Initiating Offer may be outstanding at any given time and such Initiating Offer must be completed prior to another Initiating Offer Offer’ being issued.