Common use of Option to Purchase Terminated Interest Clause in Contracts

Option to Purchase Terminated Interest. On dissolution of the Partnership by the withdrawal or other act of a Partner, the remaining Partner, on written notice to the other Partner within days of the dissolution, (Number) may continue the Partnership business by purchasing the interest of the other Partner in the assets and good will of the Partnership. The remaining Partner shall have the option to purchase the interest of the withdrawing Partner by paying to this Partner or the Partner’s personal representa- tive the value of the interest determined as provided in Paragraph 17 of this Agreement.

Option to Purchase Terminated Interest. On dissolution of the Partnership by the withdrawal or other act of a Partner, the remaining Partner, on written notice to the other Partner within within________14__________ days of the dissolution, (Number) may continue the Partnership business by purchasing the interest of the other Partner in the assets and good will of the Partnership. The remaining Partner shall have the option to purchase the interest of the withdrawing Partner by paying to this Partner or the Partner’s personal representa- tive representative the value of the interest determined as provided in Paragraph 17 of this Agreement.

Option to Purchase Terminated Interest. 17. On dissolution of the Partnership by the withdrawal or other act of a PartnerPartner other than death, the remaining Partner, on written notice to the other Partner within 60 days of the dissolution, (Number) may continue the Partnership business by purchasing the interest of the other Partner in the assets and good will goodwill of the Partnership. The remaining Partner shall have the option to purchase the interest of the withdrawing Partner by paying to this the withdrawing Partner or the Partner’s personal representa- tive the value of the interest determined as provided in Paragraph 17 18 of this Agreement.