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Home My WebLink About0774 8. Buy/Sell Agreements. , (a) If, at any time, either party of the Joint Venture ; Ayreement shall receive a bona fide offer (herein called the "Offer") Prom a third party (herein called the "Offeror") to purchase all of ! ~ s~sch party's interest in the joint venture and shall desire to accept ~ said OFfer, the party receiving such OfEer (herein called the "Selling } s Party") shall give notice to th~ other party to this Joint Venture ~ Agreement (herean called the "Offeree") stating in such notic~ the name and address oE the Offeror, any informatior. with~respect to ~ the financial capacity of the Offeror available to the Selling Party, ~ ; and that the Selling Party is willing to accept such Offer, and ~ enclosing with such notice a copy of the Offer signed by the Offeror. (b) The Offeree shall ha~:e 9Q days af ter the date of ~ . i mailing of the notice~described in Sect~.on 8(a) above to give written ~ notice of its election to purchase the Se12ir.g Party's interest in the joint ver.ture on the same terms and conditions as contained in ~ the Offer. If the Offerez shall fail to give written notice in acco~dance Y:erewith to the Selling Party of the Offeree's election ~ to purchase the Selling Party's interest in the joint venture on the same terms and conditions as contained in the Offer, the Selling Party shaZl be free to~accept the Offer submitted by the tNird party, provided that such Of~er is accepted exactly as submitted and requires a closing of the transactions contemplated by such Offer in no event later than 90 days subsequent to the expiration ot the 90 day period during which ~he Offeree may give written not~~e to the Selling Party of its electior. to purchase Selling Party's interest in the joint venture. s o~. (c) Zn the event that the Gtferee elects to purchase the joint venture interest of the Selling Party in accordance t~ith Sub- section 8(b) hereof, the closing date ~f su^h purchase shall be 90 days subsequent to the expiration ~f the 90 day per~od during which the Offeree may qive written notice to the SelZing Party of its ~ election to purchase the Selling Party's interest in the joint ~ j venture. 4 f E'~ s 25~ PAC~E ~ ..q_ .