Common use of Option of the Company Clause in Contracts

Option of the Company. The other Owners shall have the option to transfer their collective purchase rights under sections 2, 3, 4, and 5 of this Article II to the Company. The effect shall be that the Company may purchase the Offered Units in lieu of the purchase of such Units by the other Owners. The Company shall be bound by the time periods set forth above, the purchase price provisions of Article II, and the payment provisions of Article III. The Company may acquire such amounts of life insurance on the lives of the Owners as it deems appropriate to enable it to purchase Offered Units. The option created under this paragraph may be exercised by a consent to transfer signed by Owners who hold at least 0.00 percent of the outstanding Units.

Option of the Company. The other Owners shall have the option to transfer their collective purchase rights under sections 2, 3, 4, and 5 4 of this Article II I to the Company. The effect shall be that the Company may purchase the Offered Units in lieu of the purchase of such Units by the other Owners. The Company shall be bound by the time periods set forth above, the purchase price provisions of Article II, and the payment provisions of Article III. The Company may acquire such amounts of life insurance on the lives of the Owners as it deems appropriate to enable it to purchase Offered Units. The option created under this paragraph may be exercised by a consent to transfer signed by Owners who hold at least 0.00 60 percent of the outstanding Units minus the Offered Units.