Examples of Offeree Members in a sentence
The Offeree Members shall have the first right to accept or reject any Transfer Offer.
If the Transferring Member specifics in the Transfer Offer a minimum number of Offered Units that must be Transferred under the Transfer Offer, and such minimum number of Offered Units is not accepted by one or more Offeree Members within thirty (30) days after the Transfer Offer Date.
Failure to deliver an Acceptance Notice shall be deemed conclusive evidence of an Offeree Member's intent to decline the opportunity to purchase any of the Offered Units.
The District encourages all victims of sexual harassment and persons with knowledge of sexual harassment to report the harassment immediately.
Subject to the provisions of this Section 8.3, each Offeree Member shall have the irrevocable right of first refusal for a period of thirty (30) days after its receipt of the Selling Member Notice (the "Acceptance Period") to purchase a portion of the Offered Units in the proportion that the Ownership Percentage of such Member bears to the Ownership Percentages of all the Offeree Members electing to so purchase the Offered Units.
In the event the Selling Member (i) proposes to sell the Offered Units other than in accordance with the preceding sentence or (ii) does not sell all of the Offered Units to the Proposed Acquiror within such 80-day period, then, in each such case, prior to any Transfer of such Offered Units, the Selling Member shall be required to first offer such Offered Units to the Offeree Members in the manner provided in this Section.
At the closing, the Transferring Member shall deliver to those Offeree Members accepting the Offer an assignment of the Offered Membership Interest, free and clear of all liens and encumbrances.
The Offeree Members shall accept the Offer, if at all, by delivering of written notice setting forth such acceptance to the Transferring Member within the 30-day period described above.
The foregoing shall not prohibit the Company and the Offeree Members from collectively purchasing all the Offered Interest in such individual proportions as they shall mutually agree.
The Offer Notice shall constitute an offer (the “Offer”) by the Transferring Member to the Offeree Members to purchase the Offered Membership Interest in exchange for the price and on the terms set forth in the Third-Party Offer.