Common use of Notice of Intent to Purchase Clause in Contracts

Notice of Intent to Purchase. Within thirty (30) days after the ---------------------------- Managers have notified the Remaining Members as to the purchase price of the Former Member's Interest determined in accordance with Section 8.3, each Remaining Member shall notify the Managers in writing of his/her/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. Notwithstanding the foregoing, in the event of a purchase by Knyal's Membership interest pursuant to Section 4.2 or 4.3, the Company shall be obligated to purchase Knyal's Membership Interest.

Notice of Intent to Purchase. Within If the Managers elect the alternative specified at Section 8.2(b), then, within thirty (30) days after the ---------------------------- Managers have notified the Remaining Members as to the purchase price of the Former Member's Members' Interest determined in accordance with Section 8.3is determined, the Managers shall notify the remaining Members of that portion, if any, of the Former Members' Interest which the Company has elected to purchase. If the Company elects to purchase less than all of the Former Members' Interest, each Remaining remaining Member shall notify the Managers in writing of his/her/its desire writing, within ten (10) days thereafter, if that Member desires to purchase a portion of the balance of the Former Member's Members' Interest. The failure of any Remaining remaining Member to submit a notice so notify the Managers within the applicable such ten (10) day period shall constitute an election on the part of the that Member not to purchase any of the balance of the Former Member's Members' Interest. Each Remaining remaining Member so electing to purchase (a "Purchasing Member") shall be entitled to purchase a portion of the balance of the Former Member's Members' Interest in the same proportion that the Percentage Interest of the Remaining Purchasing Member bears to the aggregate of the Percentage Interests of all of the Remaining Members electing to purchase the Former Member's Interest. Notwithstanding the foregoing, in the event of a purchase by Knyal's Membership interest pursuant to Section 4.2 or 4.3, the Company shall be obligated to purchase Knyal's Membership InterestPurchasing Members.