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.”

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.”