Common use of Notice of Intent to Purchase Clause in Contracts

Notice of Intent to Purchase. Within thirty (30) days after the General Manager has notified the Remaining Members as to the purchase price of the Former Member's Interest determined in accordance with Section 10.2, each Remaining Member shall notify the General Manager in writing of its desire to purchase a portion of the Former Member's Interest. The failure of any Remaining Member to submit a notice within the applicable period shall constitute an election on the part of the Member not to purchase any of the Former Member's Interest. Each Remaining Member so electing to purchase shall be entitled to purchase a portion of the Former Member's Interest in the same proportion that the Percentage Interest of the Remaining Member bears to the aggregate of the Percentage Interests of all of the Remaining Members electing to purchase the Former Member's Interest.

Appears in 3 contracts

Samples: Operating Agreement (Claxson Interactive Group Inc), Operating Agreement (Playboy Enterprises Inc), Operating Agreement (Playboy Enterprises Inc)

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Notice of Intent to Purchase. Within thirty (30) days after the General Manager has notified the Remaining Members as to the purchase price of the Former Member's ’s Interest determined in accordance with Section 10.2, each Remaining Member shall notify the General Manager in writing of its desire to purchase a portion of the Former Member's ’s Interest. The failure of any Remaining Member to submit a notice within the applicable period shall constitute an election on the part of the Member not to purchase any of the Former Member's ’s Interest. Each Remaining Member so electing to purchase shall be entitled to purchase a portion of the Former Member's ’s Interest in the same proportion that the Percentage Interest of the Remaining Member bears to the aggregate of the Percentage Interests of all of the Remaining Members electing to purchase the Former Member's ’s Interest.

Appears in 1 contract

Samples: Operating Agreement (Claxson Interactive Group Inc)

Notice of Intent to Purchase. Within thirty (30) days after the General Manager Management Committee has notified the Remaining Members as to the purchase price of the Former Member's ’s Interest determined in accordance with Section 10.28.03, each Remaining Member shall notify the General Manager Management Committee in writing of its desire to purchase all or a portion of the Former Member's ’s Interest. The failure of any Remaining Member to submit a notice within the applicable period shall constitute an election on the part of the such Member not to purchase any of the Former Member's ’s Interest. Each Remaining Member so electing to purchase shall be entitled to purchase a portion of the Former Member's ’s Interest in the same proportion that the Percentage Interest of the Remaining Member bears to the aggregate of the Percentage Interests of all of the Remaining Members electing to purchase the Former Member's ’s Interest.

Appears in 1 contract

Samples: Operating Agreement (First American Corp)

Notice of Intent to Purchase. Within thirty (30) days after the General Manager has notified the Remaining Members as to the purchase price of the Former Member's Interest determined in accordance with Section 10.2Paragraph 23.03, each Remaining Member shall notify the General Manager in writing of his, her or its desire to purchase a portion of the Former Member's Interest. The failure of any Remaining Member to submit a notice within the applicable period shall constitute an election on the part of the Member not to purchase any of the Former Member's Interest. Each Remaining Member so electing to purchase shall be entitled to purchase a portion of the Former Member's Interest in the same proportion that the Percentage Interest of the Remaining Member Members bears to the aggregate of the Percentage Interests of all of the Remaining Members electing to purchase the Former Member's Interest.

Appears in 1 contract

Samples: Operating Agreement (Dover Investments Corp)

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Notice of Intent to Purchase. Within thirty (30) days after the General Manager has notified the Remaining remaining Class A Members as to of the purchase price of the Former Member's Interest determined in accordance with Section 10.2Interest, each Remaining remaining Class A Member shall notify the General Manager in writing of its desire if that Class A Member desires to purchase a portion of the Former Member's Interest. The failure of any Remaining remaining Class A Member to submit a notice within the applicable period shall constitute an election on the part of the that Member not to purchase any of the Former Member's Interest. Each Remaining remaining Class A Member so electing to purchase (a "Purchasing Member") shall be entitled to purchase a portion of the Former Member's Interest in the same proportion that the Percentage Economic Interest of the Remaining Purchasing Member bears to the aggregate of the Percentage Economic Interests of all of the Remaining Members electing to purchase the Former Member's InterestPurchasing Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Internetstudios Com Inc)

Notice of Intent to Purchase. Within thirty (30) days after the General Manager Management Committee has notified the Remaining Members as to the purchase price of the Former Member's Interest determined in accordance with Section 10.28.03, each Remaining Member shall notify the General Manager Management Committee in writing of its desire to purchase all or a portion of the Former Member's Interest. The failure of any Remaining Member to submit a notice within the applicable period shall constitute an election on the part of the such Member not to purchase any of the Former Member's Interest. Each Remaining Member so electing to purchase shall be entitled to purchase a portion of the Former Member's Interest in the same proportion that the Percentage Interest of the Remaining Member bears to the aggregate of the Percentage Interests of all of the Remaining Members electing to purchase the Former Member's Interest.

Appears in 1 contract

Samples: First American Financial Corp

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