Appointment of Initial Managing Member. Subject to Section 3.3 and the other provisions of this Agreement, the Members hereby appoint the Class B Member as the initial Managing Member with the rights and responsibilities set forth in Section 3.1 and subject to the limitations set forth in Section 3.1(b), Section 3.6 and elsewhere in this Agreement. The rights of the Class B Member as Managing Member may not be assigned voluntarily or by operation of law by the Class B Member, and the duties of the Class B Member as Managing Member may not be delegated voluntarily or otherwise by the Class B Member.
Appears in 7 contracts
Samples: Limited Liability Company Agreement (Hospitality Investors Trust, Inc.), Limited Liability Company Agreement (American Realty Capital Hospitality Trust, Inc.), Limited Liability Company Agreement (American Realty Capital Hospitality Trust, Inc.)
