Common use of Option by Other Members Clause in Contracts

Option by Other Members. If the Company fails or declines to exercise an option to purchase a Membership Interest of a Member as provided by this Agreement within the period of time specified for such option, then the other Members shall have the option for a period of ninety (90) days thereafter to purchase such Membership Interest in such proportions as they mutually agree or in proportion to their respective Percentage Interests for the same price and upon the same terms available to the Company.

Appears in 4 contracts

Samples: Company Agreement, Company Agreement (Green America Recycling, LLC), Company Agreement (Deeproot Growth Runs Deep Fund, LLC)

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Option by Other Members. If the Company fails or declines to exercise an option to purchase a Membership Interest Units of a Member as provided by this Agreement in paragraphs 14.03 within the period of time specified for such option, then the other Members shall have the option for a period of ninety (90) days thereafter to purchase such Membership Interest Units in such proportions as they mutually agree or in proportion to their respective Percentage Interests for the same price and upon the same terms available to the Company.

Appears in 2 contracts

Samples: Operating Agreement (GolfSuites 1, Inc.), Operating Agreement (GolfSuites 1, Inc.)

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Option by Other Members. If the Company fails or declines to exercise an option to purchase a Membership Interest Units of a Member as provided by this Agreement in paragraphs 14.03, 14.04, or 14.05 within the period of time specified for such option, then the other Members shall have the option for a period of ninety (90) days thereafter to purchase such Membership Interest Units in such proportions as they mutually agree or in proportion to their respective Percentage Interests for the same price and upon the same terms available to the Company.

Appears in 1 contract

Samples: Operating Agreement (GolfSuites 1, Inc.)

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