Equity Member. The Equity Member shall be the only Member with an interest in the profits, losses, distributions and capital of the Company. The Equity Member shall have the right to elect and remove the Managers, subject to the provisions of Section 5.03 relating to the removal of, and election of a replacement for, the Independent Manager. Except for the rights specifically granted herein to the Independent Member and as may be expressly required by law, the Equity Member shall be the only Member with any voting rights.
Appears in 5 contracts
Samples: Limited Liability Company Operating Agreement (ET Wayne Finance, L.L.C.), Limited Liability Company Operating Agreement (ET Wayne Finance, L.L.C.), Limited Liability Company Operating Agreement (ET Wayne Finance, L.L.C.)
Equity Member. The Equity Member shall be the only Member ------------- with an interest in the profits, losses, distributions and capital of the Company. The Equity Member shall have the right to elect and remove the Managers, subject to the provisions of Section 5.03 relating to the removal of, and election of a replacement for, the Independent Manager. Except for the rights specifically granted herein to the Independent Member and as may be expressly required by law, the Equity Member shall be the only Member with any voting rights.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Apple Hospitality Two Inc)
