Common use of Notice to Nonacquiring Member Clause in Contracts

Notice to Nonacquiring Member. Within 15 days after the acquisition of any interest or the right to acquire any interest in real property wholly or partially within the Area of Interest (except real property acquired by the Manager pursuant to a Program), the acquiring Member shall notify the other Member of such acquisition. The acquiring Member's notice shall describe in detail the acquisition, the lands and minerals covered thereby, the cost thereof, and the reasons why the acquiring Member believes that the acquisition of the interest is in the best interests of the Members and the Company under this Agreement. In addition to such notice, the acquiring Member shall make any and all information concerning the acquired interest available for inspection by the other Member.

Notice to Nonacquiring Member. Within 15 days after the acquisition of any interest or the right to acquire any interest in real property wholly or partially within the Area of Interest (except real property acquired by or on behalf of the Manager Company pursuant to a Program), the acquiring Member shall notify the other Member of such acquisition. The acquiring Member's ’s notice shall describe in detail the acquisition, the lands and minerals covered thereby, the cost thereof, and the reasons why the acquiring Member believes that the acquisition of the interest is in the best interests of the Members and the Company under this Agreement. In addition to such notice, the acquiring Member shall make any and all information concerning the acquired interest available for inspection by the other Member.

Notice to Nonacquiring Member. Within 15 30 days after the acquisition of any interest or the right option to acquire any interest in real property property, including Claims, wholly or partially within the Area of Interest (except real property acquired by the Manager Operator pursuant to a Program), by a Member or its Affiliates, the acquiring Member shall notify the other Member of such acquisition. The acquiring Member's notice shall describe in detail the acquisition, the lands and minerals covered thereby, the direct acquisition cost thereofwithout consideration for management fees or indirect costs, and the reasons why the acquiring Member believes that the acquisition of the interest is in the best interests of the Members and the Company under this AgreementCompany. In addition to such notice, the acquiring Member shall make any and all information concerning the acquired interest available for inspection by the other Member.

Notice to Nonacquiring Member. Within 15 twenty (20) days after the acquisition of any interest or the right to acquire any interest in real property wholly or partially within the Area of Interest (except real property acquired by or on behalf of the Manager Company pursuant to a Program), the acquiring Member shall notify the other Member of such acquisition. The acquiring Member's ’s notice shall describe in detail the acquisition, the lands and minerals covered thereby, the cost thereof, and the reasons why the acquiring Member believes that the acquisition of the interest is in the best interests of the Members and the Company under this Agreement. In addition to such notice, the acquiring Member shall make any and all information concerning the acquired interest available for inspection by the other Member.