Common use of TRANSFER VALUE Clause in Contracts

TRANSFER VALUE. In the event of a third-party offer, the Company (or non-selling Member making the option to purchase under Section 7.2(b)) may elect for an independent appraisal, with the cost of the appraisal borne by the selling Member. If the independent appraisal results in a valuation of 10% or greater than the third-party offer, then the appraisal valuation shall be the “Transfer Value” for purposes of this Article. If the independent appraisal results in a valuation of 10% or lesser than the third- party offer, the third party offer amount shall serve as the Transfer Value for purposes of this Article.