Common use of Appointment and Removal of Manager Clause in Contracts

Appointment and Removal of Manager. The Manager may be removed at any time for Cause by the holders of a Majority Vote. The Manager may resign at any time by delivering a written resignation to the Company, which resignation shall be effective upon receipt thereof unless it is specified to be effective at some other time or upon the occurrence of a particular event. Following the Manager’s removal or resignation, a successor Manager shall be elected by the holders of a Majority Vote. The removal of the Manager shall not affect the Manager’s rights as a Member and shall not constitute a withdrawal by such Member from the Company.

Appears in 2 contracts

Samples: Operating Agreement (Slingshot USA LLC), Operating Agreement (Slingshot USA LLC)

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Appointment and Removal of Manager. The A Manager may be removed at any time for Cause by the holders of a Majority Vote. The Manager may resign at any time by delivering a written resignation to the Company, which resignation shall be effective upon receipt thereof unless it is specified to be effective at some other time or upon the occurrence of a particular event. Following the Manager’s removal or resignation, a successor Manager shall be elected by the holders of a Majority Vote. The removal of the Manager shall not affect the Manager’s rights as a Member and shall not constitute a withdrawal by such Member from the Company.

Appears in 1 contract

Samples: Operating Agreement (Slingshot USA LLC)

Appointment and Removal of Manager. The Manager may be removed at any time for Cause time, with or without cause, by the holders of a Majority Vote80% of the Common Units. The Manager may resign at any time by delivering a written resignation to the Company, which resignation shall be effective upon receipt thereof unless it is specified to be effective at some other time or upon the occurrence of a particular event. Following the Manager’s removal or resignation, a successor Manager shall be elected by the holders of a Majority Vote. The removal of the Manager shall not affect the Manager’s rights as a Member and shall not constitute a withdrawal by such Member from the Company.

Appears in 1 contract

Samples: Operating Agreement

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Appointment and Removal of Manager. The Manager may be removed at any time for Cause time, with or without cause, by the holders of a Majority Vote. The Manager may resign at any time by delivering a written resignation to the Company, which resignation shall be effective upon receipt thereof unless it is specified to be effective at some other time or upon the occurrence of a particular event. Following the Manager’s removal or resignation, a successor Manager shall be elected by the holders of a Majority Vote. The removal of the Manager shall not affect the Manager’s rights as a Member and shall not constitute a withdrawal by such Member from the Company.

Appears in 1 contract

Samples: Operating Agreement

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