Common use of Election of Manager Clause in Contracts

Election of Manager. The Company shall initially have one (1) Manager, as specified in Article I above. If the Manager is the subject of an Incapacity or if the Manager resigns, then one or more replacement managers may be appointed by the affirmative vote or written consent of a Majority Interest of the Members. The Members shall not have the power or authority to remove the Manager. If the number of Managers is changed, the Articles shall be amended, if necessary, to accurately reflect whether the Company has only one Manager or more than one Manager. A Manager need not be a Member, an individual, a resident of the State of Delaware or a citizen of the United States.

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Golden Pacific Homes, LLC), Limited Liability Company Agreement (Golden Pacific Homes, LLC)