Common use of No Parties Exercise the Option Clause in Contracts

No Parties Exercise the Option. If none of the other Parties exercises said right and option by giving written notice of its acceptance within sixty (60) days after receipt of the above-mentioned notice, the Party which received or made said offer shall be entitled to receive the written approval of the other Parties, subject to the provisions of Articles 9.1(a)-(h), and may complete the sale to the prospective purchaser in accordance with said offer within six (6) months after the expiration of said period of sixty (60) days; provided that, if the Party which receives or makes said offer fails to complete the sale within said period of six (6) months, the preferred right and option of the other Parties under Article 9.2.1 shall be considered as revived, and the Party which received or made said offer shall not complete the sale to the prospective purchaser unless and until said offer again has been presented to the other Parties, as hereinabove provided, and said other Parties again have failed to elect to purchase on the terms and conditions of said offer. All offers at any time made to or by any Party for the purchase of its Percentage Interest covered hereby shall be subject to all the terms and conditions of Article 9.2.1 The six (6) month period hereinabove provided shall be extended as may reasonably be necessary to secure the approval of the assignment by the appropriate governmental authorities, provided the Party moves expeditiously in attempting to secure governmental approval.

No Parties Exercise the Option. If none of the other Parties exercises said right and option by giving written notice of its acceptance ac- ceptance within sixty (60) days after receipt of the above-mentioned notice, the Party which received or made said offer shall be entitled to receive the written approval of the other PartiesPar- ties, subject to the provisions of Articles 9.1(a)-(hSections 9.1 (a)-(j), and may complete the sale to the prospective prospec- tive purchaser in accordance with said offer within six (6) months after the expiration of said period of sixty (60) days; provided that, if the Party which receives or makes said offer fails to complete the sale within said period of six (6) months, the preferred right and option of the other Parties under Article Section 9.2.1 shall be considered as revived, and the Party which received or made said offer shall not complete the sale to the prospective purchaser unless and until said offer again has been presented to the other Parties, as hereinabove provided, and said other Parties again have failed to elect to purchase on the terms and conditions of said offer. All offers at any time made to or by any Party for the purchase of its Percentage Interest covered cov- ered hereby shall be subject to all the terms and conditions of Article 9.2.1 Section 9.2.1. The six (6) month months period hereinabove provided shall be extended as may reasonably be necessary to secure the approval of the assignment by the appropriate governmental authorities, provided the Party moves acts expeditiously in attempting to secure governmental approval.

No Parties Exercise the Option. If none of the other Parties exercises said right and option by giving written notice of its acceptance within sixty (60) days after receipt of the above-above mentioned notice, the Party which received or made said offer shall be entitled to receive the written approval of the other Parties, subject to the provisions of Articles 9.1(a)-(hSections 10.1 (a)-(j), and may complete the sale to the prospective purchaser in accordance with said offer within six (6) months after the expiration of said period of sixty (60) days; provided that, if the Party which receives or makes said offer fails to complete the sale within said period of six (6) months, the preferred right and option of the other Parties under Article 9.2.1 Section 10.2.1 shall be considered as revived, and the Party which received or made said offer shall not complete the sale to the prospective purchaser unless and until said offer again has been presented to the other Parties, as hereinabove provided, and said other Parties again have failed to elect to purchase on the terms and conditions of said offer. All offers at any time made to or by any Party for the purchase of its Percentage Interest covered hereby shall be subject to all the terms and conditions of Article 9.2.1 Section 10.2.1. The six (6) month months period hereinabove provided shall be extended as may reasonably be necessary to secure the approval of the assignment by the appropriate governmental authorities, provided the Party moves acts expeditiously in attempting to secure governmental approval.

No Parties Exercise the Option. If none of the other Parties exercises said right and option by giving written notice of its acceptance within sixty (60) days after receipt of the above-mentioned above‑mentioned notice, the Party which received or made said offer shall be entitled to receive the written approval of the other Parties, subject to the provisions of Articles 9.1(a)-(hSections 9.1 (a)‑(j), and may complete the sale to the prospective purchaser in accordance with said offer within six (6) months after the expiration of said period of sixty (60) days; provided that, if the Party which receives or makes said offer fails to complete the sale within said period of six (6) months, the preferred right and option of the other Parties under Article Section 9.2.1 shall be considered as revived, and the Party which received or made said offer shall not complete the sale to the prospective purchaser unless and until said offer again has been presented to the other Parties, as hereinabove provided, and said other Parties again have failed to elect to purchase on the terms and conditions of said offer. All offers at any time made to or by any Party for the purchase of its Percentage Interest covered hereby shall be subject to all the terms and conditions of Article 9.2.1 Section 9.2.1. The six (6) month months period hereinabove provided shall be extended as may reasonably be necessary to secure the approval of the assignment by the appropriate governmental authorities, provided the Party moves acts expeditiously in attempting to secure governmental approval.