Effect of Removal. After the effective date of removal as Manager, any removed Manager shall cease to be the Manager, but shall continue to be a Member (if applicable) and maintain (i) all of the same economic rights it had prior to removal as Manager, (ii) the right to approve Major Decisions (if such Person is a Qualifying Member), and (iii) its other rights as described herein.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Griffin-American Healthcare REIT III, Inc.), Limited Liability Company Agreement (Griffin-American Healthcare REIT III, Inc.), Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.)
Effect of Removal. After the effective date of removal as Manager, any removed Manager shall cease to be the Manager, but shall continue to be a Member (if applicable) and maintain (i) all of the same economic rights it had prior to removal as Manager, (ii) the right to approve Major Decisions (if such Person is a Qualifying Member), and (iii) its other rights as described herein.,
Appears in 1 contract
Samples: Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.)
