Examples of Independent Manager in a sentence
Unless otherwise provided by the Certificate, vacancies and newly created Manager positions resulting from any increase in the authorized number of Managers shall be filled (i) by a majority vote of the Member Board if such vacancy occurs with respect to a Member Manager or an Independent Manager or (ii) by a majority vote of the IRS Vertical Committee if such vacancy occurs with respect to the IRS Vertical Manager.
The Borrower shall not fail to obtain the consent of the Independent Manager whenever required under the Borrower’s organizational documents.
Any Independent Manager may be removed at any time, with or without cause, by a majority vote of the Board of Managers, provided that a majority of all other Independent Managers must vote to remove an Independent Manager without cause.