content_image/753485.jpg
The member shall have no obligation to accept any offer that may be obtained by the WTA on its behalf, and the member may withdraw its request under this paragraph at any time. 

v. At any time that a member consummates a Transfer with respect to a Tournament Class Membership interest, the applicable Transfer Fee percentage (set forth in the following table) – assessed to the value of the consideration for the membership provided by the proposed purchaser to the member – shall be imposed by the Board of Directors. 

<img src='content_image/753485.jpg'>

^ The Board of Directors retains the discretion to assess a lesser fee where appropriate, as determined in its sole discretion. The relevant Transfer Fee will be waived for transfers that take place among members of the same immediate family, should the Transfer be approved pursuant to the Rules. 

vi. If the purchaser of a Tournament Class Membership interest is not currently promoting or operating any WTA Tournament(s) or is not a member, as a precondition to approval of any Transfer under this sub- Section 2.a, the purchaser must agree in writing that it will deposit or provide a letter of credit guaranteeing payment of 100% of the first year’s prize money. Payment will be made under this letter of credit in the event the Tournament is not held; if the Tournament is held, payment will be made under the letter of credit only to the extent of a shortfall in prize money payments. Any payment under the letter of credit will be non-refundable. 

vii. The purchaser of a Tournament Class Membership, as a precondition to approval of any Transfer under this sub-Section 2.a, must also agree in writing that it will pay for the Supervisor’s time and travel (lodging, food, and other reasonable expenses) for the week prior to the first edition of the Tournament under the new ownership. 

