Offeror Member definition
Examples of Offeror Member in a sentence
The party which shall send the first Buy-Sell Notice shall be deemed to be the Offeror Member Group and shall have all rights and obligations of the Offeror Member Group and the recipient of such first sent Buy-Sell Notice shall be deemed to be the Offeree Member Group and shall have all rights and obligations of the Offeree Member Group.
A Third Party Offer may not contain provisions related to any property of the Offeror Member other than the Membership Interests held by the Offeror Member; provided, however, that the Company and any Member, as the case may be, shall always have the right to pay the consideration payable pursuant to this Section 8.4, Section 8.5 or Section 8.6 (regardless of the form of consideration paid by any other accepting offeree of the Third Party Offer) in the form of U.S. dollars.
Upon delivery of the purchase price, the Offeror Member shall have no further rights as holder of the Offered Class I Units so purchased.
A Third Party Offer must include an offer to acquire the same percentage of each class or series of Membership Interests then held by the Offeror Member.
If the Offeree Member Group fails to notify the Offeror Member Group of its election within such thirty (30) day period, the Offeree Member Group shall be deemed to have elected to sell its entire Membership Interest upon the terms and conditions of the Buy-Sell Notice.