Nontransferring Members definition
Examples of Nontransferring Members in a sentence
The option to purchase or redeem provided in this Section 9.2 shall be exercised by the Company and/or the Non-transferring Members, as the case may be, by written notice to the Person who owns or controls the Option Units delivered on or before the end of the Company Option Period or Member Option Period, as applicable.
In the event more than one (1) Non-transferring Member desires to purchase Option Units entitled to be purchased by the Non-transferring Members (the “Purchasing Members”), if the Purchasing Members cannot agree on the number of Option Units each will purchase, each Purchasing Member shall have the right to purchase the percentage of Option Units to be purchased by all Purchasing Members pro rata based upon their respective Sharing Ratios.
The Cash Value to be submitted to the independent expert by the Transferring Member shall be the Cash Value provided by such Transferring Member in the notice provided to the Non-transferring Members pursuant to Section 9.4(c), and the Cash Value to be submitted to the independent expert by each Non-transferring Member shall be the Cash Value provided by such Non-transferring Member in the notice provided to the Transferring Member pursuant to this Section 9.4(d).
The option to purchase or redeem shall be exercised by the Company or the Non-transferring Members, as the case may be, by written notice to the Person who owns or controls the Option Units (the "Option Notice") delivered on or before the end of the applicable period.