Common use of OPTION TO PARTICIPATE IN SALE Clause in Contracts

OPTION TO PARTICIPATE IN SALE. In lieu of exercising the option granted in SECTION 4.2(c), a Shareholder may elect to participate in any sale by the Proposing Transferor contemplated by SECTION 4.2 at the Prescribed Price. Upon such election, the Shareholder will be entitled to sell all of its Joint Venture Interest. The election to participate in a sale must be in writing and must be delivered to the Proposing Transferor within thirty (30) days of receipt of the Transfer Notice. Failure to timely deliver a written election to participate in a sale within thirty (30) days of the Transfer Notice will constitute a waiver of such Shareholder's right to participate in the sale.

OPTION TO PARTICIPATE IN SALE. In lieu of exercising the option granted in SECTION 4.2(c), a Voting Shareholder may elect to participate in any sale by the Proposing Transferor contemplated by SECTION 4.2 at the Prescribed Price. Upon such election, the Voting Shareholder will be entitled to sell all all, but not less than all, of its Joint Venture Interest. The election to participate in a sale must be in writing and must be delivered to the Proposing Transferor selling Shareholder within thirty (30) days of receipt of the Transfer Notice. Failure to timely deliver a written election to participate in a sale within thirty (30) days of the Transfer Notice will constitute a waiver of such Voting Shareholder's right to participate in the sale.

OPTION TO PARTICIPATE IN SALE. In lieu of exercising the option granted in SECTION 4.2(c11.2(c), a Shareholder Member may elect to participate in any sale by the Proposing Transferor contemplated by SECTION 4.2 11.2 at the Prescribed Price. Upon such election, the Shareholder Member will be entitled to sell all all, but not less than all, of its Joint Venture Interest. The election to participate in a sale must be in writing and must be delivered to the Proposing Transferor selling Member within thirty (30) days of receipt of the Transfer Notice. Failure to timely deliver a written election to participate in a sale within thirty (30) days of the Transfer Notice will constitute a waiver of such ShareholderMember's right to participate in the sale.