Common use of Sale on Termination as an Employee Clause in Contracts

Sale on Termination as an Employee. (a) If any Member who is an employee of the Company (i) ceases to be an employee of the Company and (ii) performs any service in connection with any diagnostic imaging business within 100 miles of the Premises, then, such Member shall sell, and the Company shall purchase, all of the Member’s Membership Interest in the Company in the manner and on the terms hereinafter provided. For purposes of this section 7.3, if any Member is an entity and a manager, trustee, partner or equity owner in such entity is an employee of the Company, then such entity shall be required to sell its entire Membership’s Interest in the Company pursuant to this section 7.3 if such manager, trustee, partner or equity owner ceases to be an employee of the Company and performs professional medical services within 100 miles of the Premises other than for the Company. In the event a court determines that any portion of this section 7.3 (a) is unenforceable, then the court is authorized to narrow the scope of this section to the extent necessary to make it enforceable.

Sale on Termination as an Employee. (a) If any Member who is an employee of the Company (i) ceases to be an employee of the Company and (ii) performs any service in connection with any diagnostic imaging business within 100 miles of the Premises, then, such Member shall sell, and the Company shall purchase, all of the Member’s Membership Interest in the Company in the manner and on the terms hereinafter provided. For purposes of this section 7.3, if any Member is an entity and a manager, trustee, partner or equity owner in such entity is an employee of the Company, then such entity shall be required to sell its entire Membership’s Interest in the Company pursuant to this section 7.3 if such manager, trustee, partner or equity owner ceases to be an employee of the Company and performs professional medical services within 100 miles of the Premises other than for the Company. In the event a court determines that any portion of this section 7.3 (a7.3(a) is unenforceable, then the court is authorized to narrow the scope of this section to the extent necessary to make it enforceable.