Common use of Terms of Right of First Refusal Clause in Contracts

Terms of Right of First Refusal. 9.7.1 Before any Member may transfer or dispose of all or any of his or her Ownership Interest hi a transaction subject to the provisions of this Section, such Member must first offer such Ownership Interest to the other Members on an equal basis. The offering price shall be as stated in Sections 8.6, 9.3 and 9.5.2 as applicable. Such offer shall be held open by such Member for a period of 20 days from the date of such offer, which period shall be known as the “Member Option Period.” 9.7.2 The other Members may, within the Member Option Period, accept such offer as to all or any part of the Ownership Interest so offered. In the event such offer is not accepted by one of the other Members as to all of the Ownership Interest so offered by the end of the Member Option Period, then the remaining other Members shall have an option to purchase equally, or in such proportions as they may agree, the Ownership Interest with respect to which the other Member did not exercise his or her option, such option to run for an additional period of 5 days, which 5-day period shall be known as the “Final Member Option Period.” 9.7.3 In the event that such offer to the Members is not accepted by the Members as to al l the Ownership Interest at the end of the final Member Option Period, the Ownership Interest shall be offered to the Company at the same price and on the same terms for an additional period of 10 days, which period shall be known as the “Company Option Period.”

Terms of Right of First Refusal. 9.7.1 Before any Member may transfer or dispose of all or any of his or her Ownership Interest hi a transaction subject to the provisions of this Section, such Member must first offer such Ownership Interest to the other Members on an equal basis. The offering price shall be as stated in Sections 8.6, 9.3 and 9.5.2 as applicable. Such offer shall be held open by such Member for a period of 20 days from the date of such offer, which period shall be known as the “Member Option Period.” 9.7.2 The other Members may, within the Member Option Period, accept such offer as to all or any part of the Ownership Interest so offered. In the event such offer is not accepted by one of the other Members as to all of the Ownership Interest so offered by the end of the Member Option Period, then the remaining other Members shall have an option to purchase equally, or in such proportions as they may agree, the Ownership Interest with respect to which the other Member did not exercise his or her option, such option to run for an additional period of 5 days, which 5-day period shall be known as the “Final Member Option Period.” 9.7.3 In the event that such offer to the Members is not accepted by the Members as to al l all the Ownership Interest at the end of the final Member Option Period, the Ownership Interest shall be offered to the Company at the same price and on the same terms for an additional period of 10 days, which period shall be known as the “Company Option Period.”

Terms of Right of First Refusal. 9.7.1 Before any Member may transfer or dispose of all or any of his or her Ownership Interest hi in a transaction subject to the provisions of this Section, such Member must first offer such Ownership Interest to the other Members on an equal basis. The offering price shall be as stated in Sections 8.6, 9.3 and 9.5.2 as applicable. Such offer shall be held open by such Member for a period of 20 days from the date of such offer, which period shall be known as the “Member Option Period.” 9.7.2 The other Members may, within the Member Option Period, accept such offer as to all or any part of the Ownership Interest so offered. In the event such offer is not accepted by one of the other Members as to all of the Ownership Interest so offered by the end of the Member Option Period, then the remaining other Members shall have an option to purchase equally, or in such proportions as they may agree, the Ownership Interest with respect to which the other Member did not exercise his or her option, such option to run for an additional period of 5 days, which 5-day period shall be known as the “Final Member Option Period.” 9.7.3 In the event that such offer to the Members is not accepted by the Members as to al l all the Ownership Interest at the end of the final Member Option Period, the Ownership Interest shall be offered to the Company at the same price and on the same terms for an additional period of 10 days, which period shall be known as the “Company Option Period.”