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)

AutoNDA by SimpleDocs

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 2 contracts

Samples: Operating Agreement, 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

AutoNDA by SimpleDocs

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

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!