Class A Member’s Rights Following a Changeover Event. (a) Notwithstanding the appointment set forth in Section 3.2 or any other provision of this Agreement to the contrary, upon the occurrence of a Changeover Event (subject to the provisions of Section 3.5 solely in the case of those events described in clauses (4), (5), (6), (10), (11), (18), (19), (20), (21) and (22) of the definition of Changeover Event) and the delivery by the Class A Member to the Class B Member of notice to such effect: (i) the Class B Member automatically, immediately and without any further action by the Class A Member or any other Person shall cease to be the Managing Member, (ii) all references in this Agreement to the term “
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Hospitality Investors Trust, Inc.), Limited Liability Company Agreement (W2007 Grace Acquisition I Inc), Special Warranty Deed (American Realty Capital Hospitality Trust, Inc.)
