Common use of Purchase by Other Principal Shareholder Clause in Contracts

Purchase by Other Principal Shareholder. If a Purchasing Member elects to purchase the Transferring Member’s Interest available for sale pursuant to clause 7.4: (a) such Purchasing Member shall specify a time and a place of closing not less than ten (10) nor more than sixty (60) business days following the mailing of the notice of exercise of the Option to purchase or at such later time as agreed to by the Transferring Member and such Purchasing Member: and (b) the Transferring Member shall deliver to the Purchasing Member, or to its designee (which must be an Affiliate of the Purchasing Member), at the closing all requisite and duly executed forms or transfer against payment for the Transferring Member’s Interest being sold upon the same terms as set forth in the Offer.

Purchase by Other Principal Shareholder. If a Purchasing Member elects to purchase the Transferring Member’s 's Interest available for sale pursuant to clause 7.47.2 hereof: (a) such Purchasing Member shall specify a time and a place of closing not less than ten (10) nor more than sixty (60) business days following the mailing of the notice of exercise of the Option to purchase or at such later time as agreed to by the Transferring Member and such Purchasing Member: and (b) the Transferring Member shall deliver to the Purchasing Member, or to its designee (which must be an Affiliate of the Purchasing Member), at the closing all requisite and duly executed forms or transfer against payment for the Transferring Member’s 's Interest being sold upon the same terms as set forth in the Offer.