3.1.3.2 In the event such an election to purchase is exercised,-the nonconsenting Partner shall be deemed to have resigned from the Joint Venture as of the date of exercise, and
the valuation of the interest and the terms of payment shall be as provided in Section 4.4 or 4.5.
3.1.3.3 If no election to purchase is exercised as provided herein, the requested consent, approval, or agreement shall be deemed to have been denied by all the Partners.