Removal and Resignation; Vacancies. Unless otherwise restricted by law, any Director or member of the Investment Committee may be removed or expelled, with or without cause, at any time solely by the Member that elected, designated or appointed such individual. Any Director or member of the Investment Committee may resign at any time by giving written notice to the Member who elected, designated or appointed such individual. Such resignation shall take effect at the time specified therein and, unless tendered to take effect upon acceptance thereof, the acceptance of such resignation shall not be necessary to make it effective. Any vacancy caused by removal or expulsion of a Director or member of the Investment Committee or the resignation of a Director or member of the Investment Committee in accordance with this Section 6.10 shall be filled solely by the action of the Member who previously elected, designated or appointed such individual in order to fulfill the Board composition requirements of Section 6.2(a) and Investment Committee composition requirements of Section 6.5(a).
Appears in 1 contract
Samples: Limited Liability Company Agreement (PennantPark Floating Rate Capital Ltd.)
Removal and Resignation; Vacancies. Unless otherwise restricted by law, any Director or member of the Investment Committee Any Member Designee may be removed or expelled, with or without cause, at any time solely by the Member Member(s) that elected, designated or appointed such individualindividual in its sole discretion. Any Director or member of the Investment Committee Member Designee may resign at any time by giving written notice to the Member Member(s) who elected, designated or appointed such individualindividual with a copy to the Company. Such resignation shall take effect at the time specified therein and, unless tendered to take effect upon acceptance thereof, the acceptance of such resignation shall not be necessary to make it effective. Any vacancy caused by removal or expulsion of a Director or member of the Investment Committee Member Designee or the resignation of a Director or member of the Investment Committee Member Designee in accordance with this Section 6.10 6.8 shall be filled solely by the action of the Member who previously elected, designated or appointed such individual in its sole discretion in order to fulfill the Board Committee composition requirements of Section 6.2(a) and Investment Committee composition requirements of Section 6.5(a).
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bain Capital Specialty Finance, Inc.)
Removal and Resignation; Vacancies. Unless otherwise restricted by law, any Director or member of the Investment Committee Member Designee may be removed or expelled, with or without cause, at any time solely by the Member Member(s) that elected, designated or appointed such individual. Any Director or member of the Investment Committee Member Designee may resign at any time by giving written notice to the Member Member(s) who elected, designated or appointed such individualindividual with a copy to the Company. Such resignation shall take effect at the time specified therein and, unless tendered to take effect upon acceptance thereof, the acceptance of such resignation shall not be necessary to make it effective. Any vacancy caused by removal or expulsion of a Director or member of the Investment Committee Member Designee or the resignation of a Director or member of the Investment Committee Member Designee in accordance with this Section 6.10 shall be filled solely by the action of the Member who previously elected, designated or appointed such individual in order to fulfill the Board Committee composition requirements of Section 6.2(a) and Investment Committee composition requirements of Section 6.5(a).
Appears in 1 contract
Samples: Limited Liability Company Agreement (Pennantpark Investment Corp)
Removal and Resignation; Vacancies. Unless otherwise restricted by law, any Director or member of the Investment Committee Any Member Designee may be removed or expelled, with or without cause, at any time solely by the Member that elected, designated or appointed such individualindividual in its sole discretion. Any Director or member of the Investment Committee Member Designee may resign at any time by giving written notice to the Member who elected, designated or appointed such individualindividual with a copy to the Company. Such resignation shall take effect at the time specified therein and, unless tendered to take effect upon acceptance thereof, the acceptance of such resignation shall not be necessary to make it effective. Any vacancy caused by removal or expulsion of a Director or member of the Investment Committee Member Designee or the resignation of a Director or member of the Investment Committee Member Designee in accordance with this Section 6.10 6.8 shall be filled solely by the action of the Member who previously elected, designated or appointed such individual in its sole discretion in order to fulfill the Board Committee composition requirements of Section 6.2(a) and Investment Committee composition requirements of Section 6.5(a).
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bain Capital Specialty Finance, Inc.)