Removal of Managing Venturer. Subject to the requirements of Section 4.11 hereof, a Vote of 60% in interest of the Venturers shall have the right to remove the Managing Venturer and substitute a new managing venturer to carry on the day-to-day Operations of the Joint Venture. The removal of the Managing Venturer shall not be retroactively effective.
Appears in 3 contracts
Samples: Joint Venture Agreement (Vadda Energy Corp), Joint Venture Agreement (Vadda Energy Corp), Joint Venture Agreement (Vadda Energy Corp)
Removal of Managing Venturer. Subject to the requirements of Section 4.11 hereof, a Vote of 6051% in interest of the Venturers shall have the right to remove the Managing Venturer and substitute a new managing venturer to carry on the day-to-day Operations of the Joint Venture. The removal of the Managing Venturer shall not be retroactively effective.
Appears in 2 contracts
Samples: Joint Venture Agreement (Core Resource Management, Inc.), Joint Venture Agreement (TransCoastal Corp)
