Replacement of Managers Clause Samples

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Replacement of Managers. In the event a Manager resigns or is removed, the Member shall appoint a replacement Manager.
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Replacement of Managers. If at any time a vacancy is created on the Board by reason of the incapacity, death, removal or resignation of any Manager, the Members shall appoint an individual to fill such vacancy.
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Replacement of Managers. (a) Comcast may at any time designate a replacement for a Comcast Manager by delivering a written notice of such replacement to the other Managers and the other Members. Such written notice shall state whether such replacement Manager shall be a temporary replacement (in which case a specified period of time shall be identified during which such replacement Manager will act as a Comcast Manager) or a permanent replacement. From and after the date on which the other Managers and the other Members receive such notice (subject to any specified period of time designated in such notice for a temporary replacement), (i) the Comcast replacement Manager shall be deemed to be a Comcast Manager and shall have all authority, power and capacity accorded to a Manager on the Board (in the event of a temporary replacement, only for such period of time designated by Comcast in the written notice provided under this Section 4.2(a), following which such temporary replacement Manager shall be deemed to have automatically resigned), and (ii) the Comcast Manager being replaced shall be deemed to have resigned from the Board and shall have no authority, power, or capacity with respect to any matter whatsoever relating to the Board (in the event of a temporary replacement, only for such period of time designated by Comcast in the written notice provided under this Section 4.2(a), following which the Comcast Manager that had been temporarily replaced shall be automatically reinstated as a Comcast Manager). (b) Radio One may at any time designate a replacement for a Radio One Manager by delivering a written notice of such replacement to the other Managers and the other Members. Such written notice shall state whether such replacement Manager shall be a temporary replacement (in which case a specified period of time shall be identified during which such replacement Manager will act as a Radio One Manager) or a permanent replacement. From and after the date on which the other Managers and the other Members receive such notice (subject to any specified period of time designated in such notice for a temporary replacement), (i) the Radio One replacement Manager shall be deemed to be a Radio One Manager and shall have all authority, power and capacity accorded to a Manager on the Board (in the event of a temporary replacement, only for such period of time designated by Radio One in the written notice provided under this Section 4.2(b), following which such temporary replacement Manager ...
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Replacement of Managers. At any time and upon written notice to all of the other Managers, (i) the Quin▇▇▇ ▇▇▇ignee may be replaced by Quin▇▇▇, ▇▇d (ii) the Paradigm Designee may be replaced by Paradigm.
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Replacement of Managers. (i) If at any time, a vacancy is created on the Board of Managers by reason of the incapacity, death, removal or resignation of a GAP Manager designated pursuant to Section 6.4(a)(i) hereof, then the GAP Shareholders shall designate an individual who shall be elected to fill the vacancy until the next Shareholders Meeting. If, at any time a vacancy is created on the Board of Managers by reason of the incapacity, death, removal or resignation of an OH Manager designated pursuant to Section 6.4(a)(ii) hereof, then the OH Shareholders shall designate an individual who shall be elected to fill the vacancy until the next Shareholders Meeting. (ii) Upon receipt of notice of the designation of a nominee pursuant to Section 6.3, each Shareholder shall, as soon as practicable after the date of such notice, take all reasonable actions, including the voting of its Shares, to elect the manager so designated to fill the vacancy.
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Replacement of Managers. 8.2.1 Except as provided in Section 8.3 below, if a member of the Managing Board representing Nelnet is removed, resigns or otherwise ceases to Exhibit 10.60 participate, Nelnet shall propose a replacement member, whose appointment shall be approved by the majority of the Managing Board, such approval not to be unreasonably withheld. For any period in which Nelnet has only one member of the Managing Board said member shall represent both of Nelnet's votes on the Managing Board. 8.2.2 Except as provided in Section 8.3 below, if Hoeft or Wolfe is removed, resigns or otherwise ▇▇▇▇▇s to ▇▇▇▇icipate, the other of Hoeft or Wolfe shall propose a replacement member, ▇hose ▇▇▇ointment shall be approved by the majority of the Managing Board, such approval not to be unreasonably withheld. For any period in which only Hoeft or Wolfe remains on the Managing Board wi▇▇ ▇▇lnet'▇ ▇▇▇resentatives, said member shall represent two votes on the Managing Board.
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Replacement of Managers. A change in the composition of the Board may be made only with the approval of the owner of the Class A Units (i.e., Holdings or its successor in
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Replacement of Managers. From and after the removal of Class B Member as Managers, (i) the Class A Member may, in its sole and absolute discretion, designate and/or admit as an additional member any person as a replacement Managers and/or appoint a new manager (“Replacement Manager"), and (ii) the Replacement Managers shall be entitled to exercise all the management rights, and perform all of the duties and obligations, of Managers under this Agreement (as such rights, duties and obligations may be modified with the approval of Members holding, in the aggregate, more than 50.00% of the Class B Interests).
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Related to Replacement of Managers

  • Replacement of Manager If at any time after any Action is brought the Manager settles the Action on a basis that results in the settlement of such Action against it and fewer than all the Underwriters (whether or not such settlement complies with Section 9.7 hereof), the Manager will, at such time, for purposes of Sections 9.3, 9.4, 9.5, 9.6, and 9.7 hereof, cease to be the Manager. The non-settling Underwriters will, by vote of holders of a majority of the Underwriting Percentage of such non-settling Underwriters, select a new Manager, which will become the new “Manager” for all purposes of Sections 9.3, 9.4., 9.5, 9.6, and 9.7 hereof as well as this section; provided that the non-settling Underwriter(s) with the largest Underwriting Percentage will act as Manager until such vote occurs and a new Manager is selected. 4 Notwithstanding such a settlement, the Manager and the other settling Underwriters will remain obligated to the non-settling Underwriters to assist and cooperate fully, in good faith, and at their own expense, in the defense of any Actions, including, without limitation, by providing, upon reasonable request of any non-settling Underwriter, and without the necessity of court process, access to or copies of all relevant records, and reasonable access to all witnesses under control of the Manager or the other settling Underwriters, for the purpose of interviews, depositions, and testimony at trial, subject in each case to the applicable legal and procedural obligations of such Manager and such other settling Underwriter. In addition, if at any time, the Manager is unwilling or unable for any reason to assume or discharge its duties as Manager under the applicable AAU, whether resulting from its insolvency (voluntary or involuntary), resignation or otherwise, to the extent permitted by applicable law, the remaining Underwriters will, by vote of holders of a majority of the Underwriting Percentage of such Underwriters, be entitled to select a new Manager, which will become the new Manager for all purposes under this Agreement. 5 Notwithstanding the foregoing, a Manager replaced pursuant to this Section 9.9 shall continue to benefit from and be subject to all other terms and conditions of this Agreement applicable to an Underwriter.

  • Removal of Managers Unless otherwise restricted by law, any Manager or the entire Board may be removed or expelled, with or without cause, at any time by the Member, and any vacancy caused by any such removal or expulsion may be filled by action of the Member.

  • Appointment of Managers With effect from the day and year stated in Box 4 and continuing unless and until terminated as provided herein, the Owners hereby appoint the Managers and the Managers hereby agree to act as the Managers of the Vessel.

  • Removal of Manager Upon an Event of Default (and so long as the Private Owner is then the Manager), the Initial Member may remove the Private Owner as the Manager and appoint a successor Manager in the sole discretion of the Initial Member in accordance with Section 12.4, whereupon such successor Manager shall immediately succeed to all, or such portion as the Initial Member and successor Manager agree, of the rights, powers, duties and obligations of the “Manager” hereunder, and the predecessor Manager shall promptly take such actions as may be reasonably requested by the Initial Member to facilitate the transition to such successor Manager.

  • Appointment of Manager The Trust hereby employs the Manager, and the Manager hereby accepts such employment, to render investment advice and related services with respect to the assets of the Fund for the period and on the terms set forth in this Agreement, subject to the supervision and direction of the Trust’s Board of Trustees.