Common use of Removal of a Manager Clause in Contracts

Removal of a Manager. (i) Any Manager may be removed, by written notice to the Board of Managers, either with or without cause at any time by the Member that designated such Manager, and no Member shall have any right to remove any Manager appointed by another Member. (ii) If a Withdrawing Member fails to remove a Manager designated by it at the time it ceases to be a Member, the Board of Managers shall be entitled to, and shall, remove such Manager with effect from the time such Withdrawing Member shall have ceased to be a Member.

Appears in 2 contracts

Sources: Implementation Agreement (Arch Coal Inc), Implementation Agreement (Peabody Energy Corp)