Common use of Manager Management Clause in Contracts

Manager Management. (a) The day-to-day operations of the Company shall be managed by the Manager, subject to the general supervision of the Board of Directors, and, except as may be specifically provided for in this Agreement, shall not be governed by its Members. In addition, the Manager shall have apparent authority to the extent recited in Subsection 6.2(f). The Company shall at no time have more than one Manager. (b) The Manager shall be ▇▇▇▇▇▇, until ▇▇▇▇▇▇'▇ (1) voluntary resignation as Manager, (ii) dissolution or bankruptcy, or (iii) removal pursuant to Subsection 6.1(c). If ▇▇▇▇▇▇'▇ tenure expires pursuant to the foregoing sentence, the new Manager shall be BMI, until BMI's (A) voluntary resignation as Manager, (B) dissolution or bankruptcy, or (C) removal pursuant to Subsection 6.1(c). If BMI refuses to so serve or if BMI's tenure expires pursuant to the foregoing sentence, a new Manager shall be appointed by those Members holding a majority in interest of Percentages and majority in interest of Company capital, pursuant to Section 6.3. (c) Those Members holding three-fourths of those Percentages that are not held by Affiliates of the Manager may remove a Manager if, and only if, such Manager (i) shall have embezzled money or other assets from the Company, or (ii) after written warning, materially breached this Agreement and failed to cure such breach within 60 days thereafter.

Manager Management. (a) The day-to-day operations of the Company shall be managed by the Manager, subject to the general supervision of the Board of Directors, and, except as may be specifically provided for in this Agreement, shall not be governed by its Members. In addition, the Manager shall have apparent authority to the extent recited in Subsection 6.2(f). The Company shall at no time have more than one Manager. (b) The Manager shall be ▇B▇▇▇▇▇, until ▇B▇▇▇▇▇'▇ (1i) voluntary resignation as Manager, (ii) dissolution or bankruptcy, or (iii) removal pursuant to Subsection 6.1(c). If ▇B▇▇▇▇▇'▇ tenure expires pursuant to the foregoing sentence, the new Manager shall be BMI, until BMI's (A) voluntary resignation as Manager, (B) dissolution or bankruptcy, or (C) removal pursuant to Subsection 6.1(c). If BMI refuses to so serve or if BMI's tenure expires pursuant to the foregoing sentence, a new Manager shall be appointed by those Members holding a majority in interest Majority Interest of Percentages and majority in interest Majority Interest of Company capital, pursuant to Section 6.3. (c) Those Members holding three-fourths of those Percentages that are not held by Affiliates of the Manager may remove a Manager if, and only if, such Manager (i) shall have embezzled money or other assets from the Company, or (ii) after written warning, materially breached this Agreement and failed to cure such breach within 60 days thereafter.