Removal of Managing Member. (a) The Managing Member may be removed from its position as managing member of the Fund by the vote or written consent of Members holding not less than 80% of the total number of votes eligible to be cast by all Members. (b) The Managing Member may be removed from its position as managing member of the Fund by the Board of Directors upon the bankruptcy (as defined in the Delaware Act) of the Managing Member.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Jp Morgan Access Multi-Strategy Fund LLC), Limited Liability Company Agreement (Jp Morgan Multi-Strategy Fund LLC), Limited Liability Company Agreement (Jp Morgan Multi-Strategy Fund LLC)
Removal of Managing Member. (a) The Managing Member Xxxxxxxx Xxxxxx may be removed from its position as managing member of the Fund by the vote or written consent of Members holding not less than 80% of the total number of votes eligible to be cast by all Members.
(b) The Managing Member may be removed from its position as managing member of the Fund by the Board of Directors upon the bankruptcy (as defined in the Delaware Act) of the Managing Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement (J P Morgan Atlas Global Long / Short Equity Fund LLC)
