Common use of Notice of Intent to Purchase Clause in Contracts

Notice of Intent to Purchase. Within thirty (30) days after the determination of the purchase price of the defaulting Member's Membership Interest in accordance with SECTION 3.8F(I), each non-defaulting Member shall notify the defaulting Member in writing of its desire to purchase a portion of the defaulting Member's Membership Interest. The failure of any non-defaulting 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 defaulting Member's Membership Interest. Each non-defaulting Member so electing to purchase shall be entitled to purchase a portion of the defaulting Member's Membership Interest in the same proportion that the Membership Interest of the non-defaulting Member bears to the aggregate of the Membership Interests of all of the non-defaulting Members electing to purchase the defaulting Member's Interest.

Notice of Intent to Purchase. Within thirty (30) days after the determination of the purchase price of the defaulting Member's ’s Membership Interest in accordance with SECTION 3.8F(ISection 3.8F(i), each non-defaulting Member shall notify the defaulting Member in writing of its desire to purchase a portion of the defaulting Member's ’s Membership Interest. The failure of any non-defaulting 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 defaulting Member's ’s Membership Interest. Each non-defaulting Member so electing to purchase shall be entitled to purchase a portion of the defaulting Member's ’s Membership Interest in the same proportion that the Membership Interest of the non-defaulting Member bears to the aggregate of the Membership Interests of all of the non-defaulting Members electing to purchase the defaulting Member's ’s Interest.

Notice of Intent to Purchase. Within thirty (30) days after the determination of the purchase price of the defaulting Member's Membership Interest in accordance with SECTION 3.8F(ISection 3.8F(i), each non-defaulting Member shall notify the defaulting Member in writing of its desire to purchase a portion of the defaulting Member's Membership Interest. The failure of any non-defaulting 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 defaulting Member's Membership Interest. Each non-defaulting Member so electing to purchase shall be entitled to purchase a portion of the defaulting Member's Membership Interest in the same proportion that the Membership Interest of the non-defaulting Member bears to the aggregate of the Membership Interests of all of the non-defaulting Members electing to purchase the defaulting Member's Interest.