Examples of Buyout Option in a sentence
On the Class B Buyout Option Exercise Date, the Administrative Agent shall cause the Class A Lenders to sell, and the Class A Lenders shall sell, to the Buyout Class B Lenders their respective pro rata portions of the Class B Buyout Amounts, and such Class B Lenders shall purchase from the Class A Lenders, at their respective pro rata portions of the Class B Buyout Amount, all of the Class A Advances.
In the event that there is more than one Remaining Member at the time a Buyout Event occurs, the Remaining Members shall be entitled to exercise the Buyout Option pro rata in accordance with their respective Percentage Interests.
The Buyout Notice shall specify the date on which the Transfer pursuant to an exercise of the Buyout Option shall be consummated, which date shall be no earlier than 30 days nor later than 90 days from the date of the Buyout Notice, unless otherwise agreed by the Remaining Member and the Departing Member.
The appraiser shall render a written report setting forth its determination of Fair Market Value as promptly as possible, and the Transfer incident to the exercise of the Buyout Option shall be made within 15 days after such determination has been made.
On the closing of the purchase and sale of the Departing Member’s LLC Interest pursuant to an exercise of the Buyout Option, each Member shall execute, acknowledge and deliver to each other Member such instruments, and take such actions, as each Member may reasonably request in order to effect the purchase and sale of the LLC Interest pursuant to the terms and conditions of this Section 8.3.