The Other Member definition
Examples of The Other Member in a sentence
The Other Member shall have sixty (60) days after its receipt of such Sale Notice to provide a written response to the Initiating Member that it has elected either to accept (such response, a “ROFO Acceptance”) or reject the Initiating Member’s offer (and in the case of a Hotel Sale, the Other Member may elect to purchase all or some of the Hotels which are subject to the applicable Sale Notice).
The Other Member shall exercise such option by giving notice to the Transferor, in which event the notice required to be given by the purchasing party (the "Purchaser") shall specify a date for the closing of the purchase which shall not be more than thirty (30) days after the date of the giving of such notice.
The Other Member shall have the right of first refusal to acquire such interest at a price and upon terms and conditions as favorable to the Other Member as those the Selling Member has been offered and is willing to accept from the Third Party.
The Other Member shall have the right and option (the “Option”) to purchase all (but not less than all) of the Offered Interest at the purchase price set forth in the Offer Notice (subject to adjustment as set forth in Section 10.11(i)), said Option being exercised by notice from the Other Member to the Selling Member and the Manager (the “Response Notice”) on or before the 30th day after the Other Member’s receipt of the Offer Notice.
The Other Member may exercise its right of first refusal by delivery of a written notice to the Selling Member (the “Initial Member ROFR Exercise Notice”) within fifteen (15) days following its receipt of the Initial Member ROFR Notice (the “Initial Member ROFR Exercise Period”).
The Other Member shall be entitled to deduct and withhold from the ROFO Price any amount of federal, state and local, or non-U.S., taxes as the Other Member is required to withhold from the ROFO Price under applicable law, and to the extent such amounts are so withheld, such withheld amounts shall be treated for all purposes as having been paid to Initiating Member.
The Other Member shall have the right to approve the transfer of the Offered Membership Interest to the Prospective Assignee.
The Other Member whose candidate received the most votes shall provide written notice of the name and contact information of the Director to the Manager of the Authority.
The Other Member of the Consortium may be changed only after expiry of 3 (three) years from the Appointed Date.
The Other Member shall communicate its decision whether or not it consents to the sale of the Sale Property within ten (10) business days of its receipt of the Sale Notice.