Common use of Notice of Agreed Value and Closing Clause in Contracts

Notice of Agreed Value and Closing. After the giving of the determination as set forth in Article 12.3, the Remaining Members shall give written notice to the Bankrupt Member and any Bankruptcy Transferee or the Involuntary Transferees as the case may be, fixing the time and date for the closing of the purchase by the Remaining Members of the Bankrupt or Deceased Member’s Interest in the Company, which closing shall be at the Corporate Office of the Company on the date not less than thirty (30) days nor more than sixty (60) days after the date of such notice subject to the consent and approval of any Court having jurisdiction. At the closing, the Remaining Members shall pay to the Bankrupt Member or Bankruptcy Transferee, as the case may be, or the Involuntary Transferees by certified or bank check, an amount equal to the Agreed Value of the Bankrupt or Deceased Member’s Interest in the Company. The Bankrupt Member and any Bankruptcy Transferee, or the Involuntary Transferees shall execute, acknowledge and deliver to the Remaining Members such instruments of conveyance, assignment and releases as shall be necessary or reasonably desirable to convey to the Remaining Members all the right, title and interest of the Bankrupt Member and Bankruptcy Transferee, or the Involuntary Transferees in the Company and the assets thereof.

Notice of Agreed Value and Closing. After the giving of the determination as set forth in Article 12.3, the Remaining Members shall give written notice to the Bankrupt Member and any Bankruptcy Transferee or the Involuntary Transferees as the case may be, fixing the time and date for the closing of the purchase by the Remaining Members of the Bankrupt or Deceased Member’s Interest in the CompanyFund, which closing shall be at the Corporate Office principal office of the Company Fund on the date not less than thirty (30) days nor more than sixty (60) days after the date of such notice subject to the consent and approval of any Court having jurisdiction. At the closing, the Remaining Members shall pay to the Bankrupt Member or Bankruptcy Transferee, as the case may be, or the Involuntary Transferees by certified or bank check, an amount equal to the Agreed Value of the Bankrupt or Deceased Member’s Interest in the CompanyFund. The Bankrupt Member and any Bankruptcy Transferee, or the Involuntary Transferees shall execute, acknowledge and deliver to the Remaining Members such instruments of conveyance, assignment and releases as shall be necessary or reasonably desirable to convey to the Remaining Members all the right, title and interest of the Bankrupt Member and Bankruptcy Transferee, or the Involuntary Transferees in the Company Fund and the assets thereof.