Examples of Offering Member in a sentence
Each time the Offering Member receives a bona fide offer from an Independent Third Party for the Transfer any of its Membership Interests that the Offering Member desires to accept, the Offering Member shall first make an offering of the Offered Interests to the other Members (the “ROFR Rightholders”) in accordance with the following provisions of this Section 8.02 prior to Transferring such Offered Interests to the Independent Third Party (other than Permitted Transfers).
At any time, and subject to the terms and conditions specified in this Section 8.02, each Member shall have a right of first refusal if any other Member (the “Offering Member”), receives a bona fide offer from an Independent Third Party to purchase all or any portion of the Membership Interests owned by the Offering Member that the Offering Member desires to accept (the “Offered Interests”).
If the Offering Member does not Transfer the Offered Interests within the Waived ROFR Transfer Period, the rights provided hereunder shall be deemed to be revived and the Offered Interests shall not be Transferred to the Independent Third Party unless the Offering Member sends a new Offering Member Notice in accordance with, and otherwise complies with, this Section 8.02.