Release from Restriction. If the Company (1) rejects the Offer, (2) fails to submit an Acceptance Notice during the applicable election period, or (3) otherwise does not accept the Offer within the applicable election period, the Transferor may make a bona fide Transfer to the proposed Transferee. Such Transfer must be made in strict accordance with the terms set forth in the Offer. If the Transferor fails to consummate such Transfer within 60 days following the expiration of time for acceptance of the Offer by the Company, the Transferor’s Units shall again become subject to all of the terms, conditions and restrictions of this Section.
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement (Lincolnway Energy, LLC), Operating Agreement (Lincolnway Energy, LLC)
