Removal of the Managing Member. Subject to Article 13, the Managing Member may only be removed with the consent of the holders of a majority of each class of Units. In the event that the Managing Member is removed, the holders of a majority of each class of Units may appoint a replacement Managing Member. Any such replacement Managing Member shall be admitted as the Managing Member; provided that such replacement Managing Member is not a Prohibited Person or an Unsuitable Person or Affiliate thereof and such appointment would not cause a Regulatory Event.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (CAESARS ENTERTAINMENT Corp), Limited Liability Company Agreement (Caesars Acquisition Co)