Common use of Resignation of Managing Member Clause in Contracts

Resignation of Managing Member. The Managing Member may not voluntarily resign, unless otherwise consented to by all of the Members. Upon such resignation, the holders of at least a majority of the Common Units and the holders of at least a majority of the Series B Special Units shall appoint another Person (who may be a newly admitted Member) to manage the operations of the Company. The resignation of the Managing Member shall not affect its rights as a Member and shall not constitute a withdrawal of a Member.

Resignation of Managing Member. The Managing Minority Member may not voluntarily resignresign as the Managing Member, unless otherwise consented to by all of the MembersMajority Member in its sole discretion. Upon such resignation, the holders of at least a majority Majority Member shall either assume the role of the Common Units and the holders of at least a majority of the Series B Special Units shall Managing Member or appoint another Person (who may be a newly admitted an Affiliate of the Majority Member) to manage the operations of the Company. The resignation of the Managing Member shall not affect its rights as a Member and shall not constitute a withdrawal of a Member.

Resignation of Managing Member. The A Managing Member may not voluntarily resign, unless otherwise consented to by all resign only with the prior written approval of the Members. Upon such resignationMajority in Interest, which shall be conditioned upon the holders agreement of at least a majority of the Common Units and the holders of at least a majority of the Series B Special Units shall appoint another Person (who may be a newly admitted Member) to manage the operations of the Company. The resignation of the one or more successor Managing Member shall not affect its rights who satisfy the requirements of Section 13.3 of this Agreement to be admitted as a Member and shall not constitute a withdrawal of a Membersubstitute Managing Member(s).