Notifying Member definition
Examples of Notifying Member in a sentence
In addition, to the extent the Company or its subsidiary must pay a prepayment penalty or other fee or penalty as a result of the exercise of the buy/sell provisions of Section 10.4 or the listing procedures provisions of Section 10.5, the Notifying Member will be solely responsible for paying such fee or penalty.
Any such dispute shall stay the time periods set forth in this Section 10.4(b) from the date on which notice of such dispute is given to the Notifying Member through and including the date on which the Approved Accountants provide a written report of the resolution of such dispute.
Each Notified Member shall exercise such right by delivering written notice of acceptance to the Notifying Member within such 30-day period.
If any Notified Member does not deliver an acceptance notice within such 30-day period, the right of such Notified Member to purchase such Units pursuant to the Termination Notice shall terminate and the Notifying Member shall have the right to cause such dissolution of the Company to take place in accordance with the provisions of Article VIII hereof or to submit a Sale Proposal to the Executive Committee.
In addition, in the event the Notifying Member fails to deliver the transfer documents and assignments reasonably requested by any Notified Member to effect the purchase pursuant to this Section 9.5(b), such Notified Member may deliver the consideration to be paid to the Notifying Member pursuant to this Section 9.5(b) to the Notifying Member and upon such delivery, execute and deliver, as the attorney in fact for the Notifying Member, such required assignments.