Designated Manager. The management of the Company is vested exclusively in the Managers; provided, however, that from and after the occurrence of an “Event of Default” under the Loan Agreement, if the Lender so elects management of the Company shall be vested immediately and exclusively in a manager designated by the Lender (the “Designated Manager”).
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement (Broadview Networks Holdings Inc), Limited Liability Company Operating Agreement (Broadview Networks Holdings Inc)
Designated Manager. The management of the Company is vested exclusively in the Board of Managers; provided, however, that from and after the occurrence of an “Event of Default” under the Loan Agreement, if the Lender so elects management of the Company shall be vested immediately and exclusively in a manager designated by the Lender (the “Designated Manager”).
Appears in 1 contract
Sources: Limited Liability Company Agreement (Broadview Networks Holdings Inc)