Common use of Purchase Right in a Designated Trust Interest Clause in Contracts

Purchase Right in a Designated Trust Interest. A Designated Trust Interest shall be deemed to have been offered for sale to the Trust, or its designee, at a price equal to the lesser of: (A) the price paid for such Designated Trust Interest in the Section 4.05 Transfer or other transaction that created such Designated Trust Interest (or, in the case of devise, gift or Section 4.05 Non-Transfer Event, the Section 4.05 Market Price at the time of such devise, gift or Section 4.05 Non-Transfer Event); and