Common use of Appointment of Managing Member Clause in Contracts

Appointment of Managing Member. CHT will be the initial Managing Member of the Company with the rights and responsibilities set forth in this Agreement. The rights of the Managing Member may not be assigned to any other Person whether voluntarily or by operation of law. The duties of the Managing Member may not be delegated to any other Person whether voluntarily or by operation of law. Nothing in the preceding sentence is intended to prohibit or restrict the Managing Member from engaging a Sunrise Person, accountants, lawyers and other professional and independent service providers for the purpose of performing services for the Company.

Appears in 1 contract

Sources: Limited Liability Company Agreement (CNL Healthcare Trust, Inc.)

Appointment of Managing Member. CHT will be the initial Managing Member of the Company with the rights and responsibilities set forth in this Agreement. The rights of the Managing Member may not be assigned to any other Person whether voluntarily or by operation of law. The duties of the Managing Member may not be delegated to any other Person whether voluntarily or by operation of law. Nothing in the preceding sentence is intended to prohibit or restrict the Managing Member from engaging a Sunrise CHT Person, a GCI Person, facility managers, accountants, lawyers and other professional and independent service providers for the purpose of performing services for the Company.

Appears in 1 contract

Sources: Limited Liability Company Agreement (CNL Healthcare Trust, Inc.)