Removal of a Governor. The Members may, from time to time, remove a Governor, with or without cause, by a Majority in Interest of Members at a meeting called for that purpose, if notice has been given that a purpose of the meeting is such removal. Notwithstanding the foregoing, the Board of Governors shall have the discretion to remove any Governor who attends less than seventy-five percent (75%) of the Board’s meetings during any 12 month period as measured on a rotating basis.
Appears in 5 contracts
Samples: Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC)
Removal of a Governor. The Members holding a majority of the Class A Units and Class B Units voting together as a single class may, from time to time, remove a Governor, with or without cause, by a Majority in Interest of Members at a meeting called for that purpose, if notice has been given that a purpose of the meeting is such removal. Notwithstanding the foregoing, the Board of Governors shall have the discretion to remove any Governor who attends less than seventy-five percent (75%) of the Board’s meetings during any 12 12-month period as measured on a rotating basis.
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC)
