b. After the No Release Deadline 

i. Tournament Obligations 

## SECTION XII - WTA TOURNAMENT MEMBERSHIPS 

## TOURNAMENTS 

The WTA shall approve a member’s request to be released from conducting its Tournament provided the request: 

(a) Is made in writing; 

(b) Is made after the requesting Tournament’s No Release Deadline as outlined in sub-Section 1 above; 

(c) Includes the reason for the request; and 

(d) Is accompanied by payment to the WTA of the Tournament’s Announced Prize Money. 

ii. Additional Tournament Implications 

(a) The Tournament Class Membership shall automatically be suspended, and the member shall have no right to operate a Tournament on the WTA until its Tournament Class Membership is reinstated by the Board. 

(b) Within thirty (30) days of the suspension of the Tournament Class Membership, the member may make a written application for reinstatement to the Board of Directors. The Board of Directors may accept or reject an application for reinstatement in its sole and absolute discretion. 

(c) If a member’s request for reinstatement is denied by the Board of Directors, or if the member fails to apply for reinstatement in the designated time frame, the member shall have a limited opportunity to sell its Tournament Class Membership, provided the proposed transfer: 

(i) Is for the entire Tournament Class Membership (partial sales, leases, and management agreements are not permitted); 

(ii) Is a bona fide arm’s length transaction with an unrelated or unaffiliated third party; 

(iii) Complies in all respects with the Rules relating to transfer of ownership, including the WTA’s approval rights and the WTA’s right of first refusal, with the exception of the 

