Common use of Other Members Clause in Contracts

Other Members. If the Company does not exercise its option to purchase all of the interest under Section 7.04A, for thirty (30) days after expiration of the Company's option or notice of the Company's intention not to exercise the option as to all or part of the interest, whichever occurs earlier, the other Members shall have an option to purchase all of the remaining interest owned by the Bankrupt Member at the price and on the terms provided in Article 8. Those Members electing to purchase the remaining interest shall do so in proportion to their share ownership, or as they shall otherwise agree.

Appears in 1 contract

Samples: Security Agreement

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Other Members. If the Company does not exercise its option to purchase all of the interest under Section 7.04A7.03B, for thirty (30) days after expiration of the Company's option or notice of the Company's intention not to exercise the option as to all or part of the interest, whichever occurs earlier, the other Members shall have an the option to purchase all of the remaining interest owned by the Bankrupt Member former spouse at the price and on the terms provided in Article 8. Those Members electing to purchase the remaining interest shall do so in proportion to their share ownership, or as they shall otherwise agree.

Appears in 1 contract

Samples: Security Agreement

Other Members. If the Company does not exercise its option to purchase all of the interest under Section 7.04A7.06A, for thirty (30) days after expiration of the Company's option or notice of the Company's intention not to exercise the option as to all or part of the interest, whichever occurs earlier, the other Members shall have an option to purchase all of the remaining interest owned by subject to the Bankrupt Member option at the price and on the terms provided in Article 88 or the price stated by the third party purchaser if less. Those Members electing to purchase the remaining interest shall do so in proportion to their share ownership, or as they shall otherwise agree.

Appears in 1 contract

Samples: Security Agreement

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Other Members. If the Company does not exercise its option to purchase all of the interest under Section 7.04A7.05A, for thirty (30) days after expiration of the Company's option or notice of the Company's intention not to exercise the option as to all or part of the interest, whichever occurs earlier, the other Members Member shall have an option to purchase all of the remaining interest owned by of the Bankrupt terminated Manager/Member at the price and on the terms provided in Article 8. Those Members electing to purchase the remaining interest shall do so in proportion to their share ownership, or as they shall otherwise agree.

Appears in 1 contract

Samples: Security Agreement

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