Removal of the Investment Manager. (a) Pursuant to the Investment Company Act, the Management Agreement may be terminated by the Board of Directors or by the affirmative vote of a Majority of the Outstanding Units upon 60 days’ written notice. “Majority of the Outstanding Units” means the lesser of (1) 67% or more of the outstanding Units present, if the holders of more than 50% of the outstanding Units are present or represented by proxy or (2) a majority of outstanding Units.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (SLR Private Credit BDC II LLC), Limited Liability Company Agreement (SLR Private Credit BDC II LLC), Limited Liability Company Agreement (SLR Hc BDC LLC)
Removal of the Investment Manager. (a) Pursuant to the Investment Company Act, the Management Agreement may be terminated by the Board of Directors or by the affirmative vote of a Majority of the Outstanding Units upon 60 days’ written days notice. “Majority of the Outstanding Units” means the lesser of (1) 67% or more of the outstanding Units present, if the holders of more than 50% of the outstanding Units are present or represented by proxy or (2) a majority of outstanding Units.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (SCP Private Credit Income BDC LLC), Limited Liability Company Agreement (SCP Private Credit Income BDC LLC)
