Common use of Removal and Resignation Clause in Contracts

Removal and Resignation. Any Manager on the Board may be removed, with or without cause, by the Member. Any Manager may resign at any time. The resignations must be made in writing and will take effect at the time specified therein, or if no time is specified, at the time of its receipt by the Member, the President, or the Secretary. The acceptance of a resignation will not be necessary to make it effective, unless expressly provided in the resignation.

Appears in 11 contracts

Samples: Limited Liability Company Agreement (Builders FirstSource of Nashville, Inc.), Limited Liability Company Agreement (Builders FirstSource of Nashville, Inc.), Limited Liability Company Agreement (Builders FirstSource of Nashville, Inc.)

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Removal and Resignation. Any Manager on Director or all of the Board of Directors may be removedremoved at any time, with or without causecase, by the Membermajority vote of the Members. Any Manager Director may resign at any timetime upon written notice to the President or Secretary of the Company. The resignations must be made in writing and will Such written resignation shall take effect at the time specified therein, or but if no time is specified, then at the time of its receipt by the Member, the President, President or the Secretary. The acceptance of a resignation will shall not be necessary to make it effective, unless expressly provided in the resignation.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Capmark Finance Inc.), Limited Liability Company Agreement (Gmac Elf LLC)

Removal and Resignation. Any Manager on member of the Board of Managers may be removed, with or without cause, at any time, only by the Membera Member Majority. Any Manager member of the Board of Managers may resign at any time. The resignations must , such resignation to be made in writing and will to take effect at the time specified thereinimmediately, or if no time is specifiedon such later date as may be specified in such written notice, at the time of its receipt by the Member, the President, or the Secretary. The acceptance of a resignation will not be necessary to make it effective, unless expressly provided in the resignationwithout acceptance.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Signal Genetics LLC), Limited Liability Company Agreement (Signal Genetics LLC)

Removal and Resignation. Any Manager on the Board may be removed, with or without cause, by the Member. Any Manager may resign at any time. The resignations must be made in writing and will take effect at the time specified therein, or if no time is specified, at the time of its receipt by the Member, the President, or the Secretary. The acceptance of a resignation will not be necessary to make it effective, unless expressly provided in m the resignation.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Builders FirstSource of Nashville, Inc.)

Removal and Resignation. Any Manager on or the entire Board may be removed, removed at any time (a) with or without cause, by the Member. Any , or (b) for cause by vote of a majority of the Managers then in office; provided that a Manager may resign at any time. The resignations must be made in writing removed for cause only after reasonable notice and will take effect at opportunity to be heard before the time specified therein, or if no time is specified, at the time of its receipt by the Member, the President, or the Secretary. The acceptance of a resignation will not be necessary body proposing to make it effective, unless expressly provided in the resignationremove him.

Appears in 1 contract

Samples: Operating Agreement (Scientific Games Corp)

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Removal and Resignation. Any A Manager on serves at the pleasure of the Board, and the Board may be removed, remove a Manager at any time with or without cause. The Board may also eliminate any Manager position other than Chairman of the Board, by President or Secretary. The removal of a Manager is without prejudice to the MemberInterests or other contractual rights of the Manager, if any. Any A Manager may resign at any timetime for any reason. The resignations must be made In the event of a vacancy in writing and will take effect at the time specified thereinany office because of death, resignation or if no time is specified, at the time of its receipt by the Memberremoval, the President, or the Secretary. The acceptance of Board shall appoint a resignation will not be necessary to make it effective, unless expressly provided in the resignationsuccessor.

Appears in 1 contract

Samples: Operating Agreement (Heritage-Crystal Clean, Inc.)

Removal and Resignation. Any Manager on or the entire Board may only be removed in accordance with the terms of the Securityholders Agreement. At such time as the Securityholders Agreement is no longer in effect, any Manager or the entire Board may be removedremoved at any time, with or without cause, by the Memberholders of the Required Interest. Any Manager may resign at any timetime upon written notice to the Board. The resignations must be made in writing and will Such resignation shall take effect on the date of the receipt of such notice or at the time any later date specified therein, or if no time is specifiedand, at the time of its receipt by the Memberunless otherwise specified therein, the President, or the Secretary. The acceptance of a such resignation will shall not be necessary to make it effective, unless expressly provided in the resignation.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Appliance Warehouse of America Inc)

Removal and Resignation. Any Manager on the Board may be removed, with or without cause, by the Member. Any Manager may resign at any timeanytime. The resignations must be made in writing and will take effect at the time specified therein, or if no time is specified, at the time of its receipt by the Member, the President, or the Secretary. The acceptance of a resignation will not be necessary to make it effective, unless expressly provided in the resignation.

Appears in 1 contract

Samples: Limited Liability' Company Agreement (Builders FirstSource of Nashville, Inc.)

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