Common use of Options to Members Clause in Contracts

Options to Members. If the Company does not purchase all of the Disposing Member’s Units covered by the Disposition Notice, the remaining Units may be purchased by the Non-Disposing Members on the same terms and at the same price available to the Company. Each Non-Disposing Member shall have the option to purchase that portion of the Disposing Member’s Units that is necessary to maintain the Member’s Percentage Interest vis-à-vis the other Non-Disposing Members (not taking into account the Percentage Interest of the Class C Members). If any Non-Disposing Member does not purchase the portion of the Units available to such Member within the time frame stated in Section 11.4(e), the remaining Units will then be available for purchase by the other Non-Disposing Members in proportion to their respective Percentage Interests.

Appears in 2 contracts

Samples: Operating Agreement (Franklin Covey Co), Operating Agreement (Franklin Covey Co)

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Options to Members. If the Company does not purchase all of the Disposing Member’s Units covered by the Disposition Notice, the remaining Units may be purchased by the Non-Non- Disposing Members on the same terms and at the same price available to the Company. Each Non-Non- Disposing Member shall have the option to purchase that portion of the Disposing Member’s Units that is necessary to maintain the Member’s Percentage Interest vis-à-vis the other Non-Disposing Members (not taking into account the Percentage Interest of the Class C Members). If any Non-Disposing Member does not purchase the portion of the Units available to such Member within the time frame period stated in Section 11.4(e11.8(e), the remaining Units will then be available for purchase by the other Non-Disposing Members in proportion to their respective Percentage Interests.

Appears in 2 contracts

Samples: Operating Agreement (World Tree Usa, LLC), Operating Agreement (World Tree Usa, LLC)

Options to Members. If the Company does not purchase all of the Disposing Member’s 's Units covered by the Disposition Notice, the remaining Units may be purchased by the Non-Disposing Members on the same terms and at the same price available to the Company. Each Non-Disposing Member shall have the option to purchase that portion of the Disposing Member’s 's Units that is necessary to maintain the Member’s 's Percentage Interest vis-àa-vis the other Non-Disposing Members (not taking into account the Percentage Interest of the Class C Members). If any Non-Disposing Member does not purchase the portion of the Units available to such Member within the time frame stated in Section 11.4(e)Member, the remaining Units will then be available for purchase by the other Non-Disposing Members in proportion to their respective Percentage Interests.

Appears in 1 contract

Samples: Operating Agreement (Stratford American Corp)

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Options to Members. If the Company does not purchase all of the Disposing Member’s Units covered by the Disposition Notice, the remaining Units may be purchased by the Non-Disposing Members on the same terms and at the same price available to the Company. Each Non-Disposing Member shall have the option to purchase that portion of the Disposing Member’s Units that is necessary to maintain the Member’s Percentage Interest vis-à-vis the other Non-Disposing Members (not taking into account the Percentage Interest of the Class C Members). If any Non-Disposing Member does not purchase the portion of the Units available to such Member within the time frame stated in Section 11.4(e), the remaining Units will then be available for purchase by the other Non-Disposing Members in proportion to their respective Percentage Interests.. (e)

Appears in 1 contract

Samples: Operating Agreement

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