Removal of a Member. Any Member may be required to terminate his/her membership interest and sell his/her Ownership Interests pursuant to Section 8.4 hereof and/or may be removed as a Member and his/her service to the Company may be terminated for Cause by majority vote of the Members who are not the subject Member and are not Affiliates of the subject Member, as the case may be.
Removal of a Member. Members of the LPDC may be appointed and/or removed by the appointing official with just cause.
Removal of a Member. The Manager may remove a Member from the Company for cause. For purposes hereof, cause for removal of a Member shall mean (a) rendering the Company or the Manager incapable of compliance with applicable anti-money laundering rules and regulations or other comparable legislation, (b) a determination by the Manager in its reasonable discretion that the continued undiminished membership of the Member in the Company would subject the Company, the Manager or their respective Affiliates to material legal, tax or other regulatory requirements that cannot reasonably be avoided, (c) a material breach by such Member of its obligations hereunder or under its Subscription Agreement, (d) the conviction of a Member, one or more of its Affiliates or one or more of its directors, officers, partners or members of a felony (but excluding any director, officer, partner or member who ceases to be such immediately following such conviction), (e) such Member being subject to a “bad actor” disqualification, as such term is used in Rule 506(d) of Regulation D promulgated by the Securities and Exchange Commission, or (f) the direct or indirect marketing or solicitation of a Transfer by a Member, without the consent of the Manager, of all or any portion of such Member’s interest in the Company. The Manager may (i) cause the Company to distribute in exchange for such Member’s interests a promissory note of the Company in an amount equal to the balance of such Member’s Capital Account as of the effective date of removal and having a term equal to the remaining term of the Company, or (ii) require such Member to sell its interest in the Company as soon as is reasonably practicable to a transferee that is acceptable to the Manager, in its sole discretion, at a price equal to the balance of the Capital Account of the Member as of the most recent quarter end; provided, that if the Member shall fail to complete such sale within thirty (30) days of demand, then the Manager shall have the right to redeem such Member’s interest for an amount equal to the balance of the Capital Account of the Member and/or sell such interests to a third party for such amount, such redemption or sale to occur within 10 days after the date the Manager provides notice thereof. The Manager may also remove a Member from the Company upon written notice to such Member if such Member does not contribute all of its Capital Commitment.
Removal of a Member. (a) The Board shall remove a Member who fails to make a required Capital Contribution. The removed Member will have no right to appeal such a decision, and the removal shall be final and binding.
Removal of a Member. A member who is not fulfilling his/her duties on either the LPDC or LPDAC may be removed for just cause by a vote of a simple majority of all members of that committee. The decision of the committee will be final.
Removal of a Member. Members of the MTC serve at the pleasure of the appointing official and may be appointed and/or removed by the appointing officials with just cause.
Removal of a Member. The Manager may remove a Member from the Company for cause. For purposes hereof, cause for removal of a Member shall mean (a) rendering the Company or the Manager incapable of compliance with applicable anti-money laundering rules and regulations or other comparable legislation, (b) a determination by the Manager in its reasonable discretion that the continued undiminished membership of the Member in the Company would subject the Company, the Manager or their respective Affiliates to material legal, tax or other regulatory requirements that cannot reasonably be avoided,
Removal of a Member. A Member may be removed from the Association for failure to continue to meet membership requirements. The Association's Bylaws will contain procedures governing the removal of a Member, including without limitation, notice, cure period, and voting procedures. Removed Members do not receive a return of any assets or other resources conveyed to or bestowed upon the Association by such removed Members.
Removal of a Member. A member (including an alternate member) may be permanently removed as a member at any time for inefficiency, neglect of duty, willful and material delay of proceedings, bias, or partiality. The NHA may remove the member which the LHA appointed and the tenants’ organizations may remove the member which the they appointed, after notice to the member and the opportunity for him or her to be heard. The NHA and the tenants’ organizations may jointly remove the member (or alternate) appointed by agreement of their appointees, after such notice and opportunity to be heard. If the NHA and the tenants’ organizations fail to agree on removal of a member chosen by agreement of their appointees, the Department may remove that member for cause upon written request by either the NHA or a tenants’ organization. The written request shall contain a detailed specification of charges. The Department’s decision whether to remove a member shall be in writing mailed to the member, the NHA and the affected tenants’ organizations. Prior to removing a member for cause, the Department shall give the member, the NHA and all affected tenants organizations the opportunity to be heard.
Removal of a Member. The Board of Directors may, by four fifths (4/5) vote of the Board members present, terminate a Member Agency’s membership in the Authority for a material breach of this Agreement after six (6) months’ notice to such Member Agency. A Member Agency so removed shall be responsible for capital expenditures and non-capital obligations of the Authority as set forth in Section 12 above.
