Common use of Transfer to Third Party Clause in Contracts

Transfer to Third Party. If a Matching Offer for all of the Offered Interest is not timely made, the Transferring Member will promptly notify the applicable Holders of Participating Units and will, subject to Section 9.2.2, Transfer the Offered Interest to the Third-Party Transferee on the Offered Terms within sixty (60) days following the termination of the first refusal time period specified above. If the Transferring Member will not have consummated such transfer within such sixty (60) day period, the Transferring Member will promptly notify the applicable Holders, and any subsequent proposed transfer of the Offered Interest will once again be subject to the terms of Sections 9.2.1 and 9.2.2.