Term and Removal of the Manager. (a) The Manager will serve as manager for an indefinite term, but the Manager may be removed by the Company, or may choose to withdraw as manager, under certain circumstances. In the event of the removal or withdrawal of the Manager, the Manager will cooperate with the Company and take all reasonable steps to assist in making an orderly transition of the management function.
Appears in 85 contracts
Samples: Operating Agreement (Groundfloor Loans 1, LLC), Operating Agreement (Groundfloor Loans 1, LLC), Operating Agreement (Arrived Debt Fund, LLC)
Term and Removal of the Manager. (a) a. The Manager will serve as manager for an indefinite term, but provided that the Manager may only be removed by the CompanyCompany in accordance with Section 6.02 (c), or may choose to withdraw as manager, under certain circumstances. In the event of the removal or withdrawal of the Manager, the Manager will cooperate with the Company and take all reasonable steps to assist in making an orderly transition of the management function.
Appears in 3 contracts
Samples: Amended Operating Agreement (Efund City Metro Income Fund LLC), Operating Agreement (Efund City Metro Income Fund LLC), Operating Agreement (Efund City Metro Income Fund LLC)
Term and Removal of the Manager. (a) The Manager will serve as manager for an indefinite term, but the Manager may be removed by the Company, or may choose to withdraw as manager, under certain circumstances. In the event of the removal or withdrawal of the Manager, the Manager will cooperate with the Company and take all reasonable steps to assist in making an orderly transition of the management function.certain
Appears in 2 contracts
Samples: Limited Liability Company Agreement (MogulREIT I, LLC), Limited Liability Company Agreement (MogulREIT I, LLC)
Term and Removal of the Manager. (a) The Manager will serve as manager for an indefinite term, but the Manager may be removed by the CompanySponsor, in its discretion, or may choose to withdraw as manager, under certain circumstances. In the event of the removal or withdrawal of the Manager, the Manager will cooperate with the Company and take all reasonable steps to assist in making an orderly transition of the management functionfunction to any replacement manager selected by the Sponsor.
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Term and Removal of the Manager. (a) The Manager will serve as manager for an indefinite term, but the Manager may be removed or replaced at any time by a vote of the Companymajority of the Board Members, or may choose to withdraw as manager, under certain circumstances. In the event of the removal or withdrawal of the Manager, the Manager will cooperate with the Company and take all reasonable steps to assist in making an orderly transition of the management functionfunction to any replacement manager selected by a vote of the majority of the Board Members.
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