Removal and Replacement of Managers. Any Manager may be removed at any time by action of Members holding at least two thirds (2/3) of all of the outstanding Percentage Interests (as defined herein) (a “Majority in Interest”). In addition, the RAB Designee may be removed at any time by action of RAB Ventures (DFB) LLC, and the Deerfield Designee may be removed at any time by action of Deerfield Private Design Fund IV, L.P.. In the event that a vacancy is created at any time by the resignation, death, disability, retirement or removal of either the RAB Designee or the Deerfield Designee, such vacancy created thereby shall be filled with a replacement Manager designated by RAB Ventures (DFB) LLC (in the case of the RAB Designee) or Deerfield Private Design Fund IV, L.P. (in the case of the Deerfield Designee).
Removal and Replacement of Managers. Each Manager elected hereunder shall serve as a Manager until such Manager resigns, is removed as provided herein or until such Manager’s successor is elected by the Member entitled to designate such successor Manager. Any removal or resignation shall be effective as of the date of such notice unless such notice provides otherwise. Each Member may remove any Manager elected by that Member at that time, with or without cause, but only a Member who has elected a Manager may remove that Manager.
Removal and Replacement of Managers. Any Manager may be removed at any time by action of the Member in the absolute discretion of the Member, with or without cause. The election by the Member of a Manager as successor to a Manager in office shall constitute removal of the successor’s predecessor from office, whether or not the action of the Member so states. Any vacancy in the Board of Managers may be filled by action of the Member or by action of the Board of Managers by a majority of the Managers then in office, even if the number of Managers then in office does not constitute a quorum of the Board of Managers.
Removal and Replacement of Managers. (a) The Members may remove any Manager, without having to possess, state, or prove cause, by an act of the Members owning seventy-five percent (75%) of the Membership Units. The removal of a Manager without stating or proving cause does not bar a later claim that the Manager engaged in misconduct while a Manager.
Removal and Replacement of Managers. (a) If any member of the Board of Managers appointed by COG, WGL, RRI or Xxxx (in such capacity, the “Designating Party”) pursuant to Section 3.6 above (each, a “
Removal and Replacement of Managers. A Manager appointed pursuant to paragraph (A) of Section 3.1(a)(ii) may be removed or replaced at any time, with or without cause, only by the Member that has appointed such Manager. A Manager appointed pursuant to paragraph (B) of Section 3.1(a)(ii) may be removed or replaced at any time, with or without cause, by the Members holding a majority of the outstanding Units.
