TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 26 contracts
Samples: Limited Liability Company Agreement (Oppenheimer Tremont Market Neutral Fund LLC), Limited Liability Company Agreement (Oppenheimer Tremont Opportunity Fund LLC), Limited Liability Company Agreement (CSFB Alternative Capital Long/Short Equity Institutional Fund, LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (ia) shall die; (iib) shall be adjudicated incompetent; (iiic) shall voluntarily withdraw resign as a Manager (upon not less than 90 days' prior written notice to the other Managers)Manager; (ivd) shall be removedremoved in accordance with Section 4.2; (ve) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vif) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (viig) shall have a receiver appointed to administer the property or affairs of such Manager; or (viiih) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (ASGI Aurora Opportunities Fund, LLC), Limited Liability Company Agreement (Wells Fargo Multi-Strategy 100 Tei Fund A, LLC), Limited Liability Company Agreement (Wells Fargo Multi-Strategy 100 Tei Fund A, LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers); (iv) shall be removedremoved (as described below); (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 7 contracts
Samples: Liability Company Agreement (Torrey International Strategy Partners LLC), Limited Liability Company Agreement (Torrey Multi Strategy Partners LLC), Limited Liability Company Agreement (Torrey International Strategy Partners LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund Company under the Delaware Act.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Xanthus Fund LLC), Limited Liability Company Agreement (Robeco-Sage Multi-Strategy Master Fund, L.L.C.), Limited Liability Company Agreement (Old Mutual 2100 Absolute Return Master Fund, L.L.C.)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers, or such lesser notice period agreeable to the other Managers); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund Company under the Delaware Act.
Appears in 4 contracts
Samples: LLC Agreement (Old Mutual Absolute Return Fund, L.L.C.), LLC Agreement (Old Mutual Emerging Managers Institutional Fund, LLC), LLC Agreement (Old Mutual Absolute Return Institutional Fund, LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund Company under the Delaware Act.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Ramius IDF LLC), Limited Liability Company Agreement (Ramius IDF Master Fund LLC), Limited Liability Company Agreement (Excelsior Multi-Strategy Hedge Fund of Funds (Ti 2), LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager Manager: (ia) shall die; (iib) shall be adjudicated incompetent; (iiic) shall voluntarily withdraw as a Manager (upon not less than 90 days' β prior written notice to the other Managers, unless the other Managers waive such notice); (ivd) shall be removed; (ve) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vif) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law law, or make an assignment for the benefit of creditors; or (viig) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Rochdale High Yield Advances Fund LLC), Limited Liability Company Operating Agreement (Rochdale Alternative Total Return Fund LLC), Limited Liability Company Operating Agreement (Rochdale Structured Claims Fixed Income Fund LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers); (iv) shall be removedremoved pursuant to Section 4.3; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Mezzacappa Long Short Fund LLC), Mezzacappa Multi Strategy Fund LLC, Mezzacappa Multi Strategy Plus Fund LLC
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.;
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Excelsior Multi-Strategy Hedge Fund of Funds (Te 2), LLC), Limited Liability Company Agreement (Excelsior Directional Hedge Fund of Funds (Ti) LLC), Limited Liability Company Agreement (Excelsior Directional Hedge Fund of Funds (Te) LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers); (iv) shall be removedremoved pursuant to Section 4.2; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Mezzacappa Partners, LLC), Limited Liability Company Agreement (Mezzacappa Partners, LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers, unless the other Managers waive such notice); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law law, or make an assignment for the benefit of creditors; or (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Mount Yale Opportunity Fund, LLC), Limited Liability Company Operating Agreement (Mount Yale Opportunity Fund, LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (ia) shall die; (iib) shall be adjudicated incompetent; (iiic) shall voluntarily withdraw resign as a Manager (upon not less than 90 days' prior written notice to the other Managers)Manager; (ivd) shall be removedremoved in accordance with Section 4.2; (ve) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vif) shall be declared bankrupt by a court with appropriate jurisdiction, file filesfile a petition commencing a voluntary case under any bankruptcy law or make makesmake an assignment for the benefit of creditors; (viig) shall have a receiver appointed to administer the property or affairs of such Manager; or (viiih) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (ASGI Aurora Opportunities Fund, LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager Manager: (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Global Chartist Fund, LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers, or such lesser notice period agreeable to the other Managers); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund Company under the Delaware Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Man FRM Alternative Multi-Strategy Fund LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' β prior written notice to the other Managers); (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund under the Delaware Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Aetos Capital Opportunities Fund, LLC)
TERMINATION OF STATUS OF A MANAGER. The status of a Manager shall terminate if the Manager (i) shall die; (ii) shall be adjudicated incompetent; (iii) shall voluntarily withdraw as a Manager (upon not less than 90 days' prior written notice to the other Managers)Manager; (iv) shall be removed; (v) shall be certified by a physician to be mentally or physically unable to perform his or her duties hereunder; (vi) shall be declared bankrupt by a court with appropriate jurisdiction, file a petition commencing a voluntary case under any bankruptcy law or make an assignment for the benefit of creditors; (vii) shall have a receiver appointed to administer the property or affairs of such Manager; or (viii) shall otherwise cease to be a Manager of the Fund Company under the Delaware Act.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Susa Registered Fund, L.L.C.)
