Completion of Purchase. The completion of the purchase of the Defaulting Member's Offered Interest under Section 15.3, if applicable, shall take place within 120 days of the determination of the NPV or the Fair Market Value thereof, as the case may be. On completion of such sale including receipt of payment therefor, the Defaulting Member shall Transfer free of Encumbrances except for the Permitted Encumbrances and agrees to do all things and to execute all documents as are reasonably necessary to effect the Transfer of its Offered Interest (which for greater certainty shall include all of its right, title and interest, if any, to the Properties and other Assets and in and to this Agreement) to the Non-Defaulting Members, in accordance with the Sale Procedure.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Polymet Mining Corp), Combination Agreement (Polymet Mining Corp)