Resignation or Withdrawal of Manager Clause Samples

Resignation or Withdrawal of Manager. Subject to Section 10, the Manager shall not resign or withdraw as the Manager or do any act that would require its resignation or withdrawal.
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Resignation or Withdrawal of Manager. A Manager may withdraw as a Manager at any time, in its sole discretion.
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Resignation or Withdrawal of Manager. The Manager may resign upon giving written notice to the Company at least thirty (30) days in advance. The Manager shall be deemed to resign upon any disposition of the membership interest of the Manager, if Manager is a Member. Upon the resignation or withdrawal of the Manager, a new Manager shall be elected by a majority in interest of the Members.
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Resignation or Withdrawal of Manager. The Manager shall not resign or withdraw as the Manager or do any act that would require its resignation or withdrawal without a Majority Vote, except that Manager may withdraw as the Manager without a Majority Vote if the Company is required to register as an investment company under the Investment Company Act of 1940 or the regulations promulgated thereunder (each as amended or superseded from time to time), with such withdrawal deemed to occur immediately before such event. If the Manager is permitted to resign pursuant to this Section 9.1, an additional manager of the Company shall be admitted to the Company upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement. Such admission shall be deemed effective immediately prior to the resignation and, immediately following such admission, the resigning Manager shall cease to be a manager of the Company.
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Resignation or Withdrawal of Manager. The Manager shall not resign or withdraw as the Manager or do any act that would require its resignation or withdrawal without a Majority Vote.
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Related to Resignation or Withdrawal of Manager

  • Withdrawal of Resignation An Employee who has terminated their employment through resignation, may withdraw their resignation within three (3) days of the time it was submitted to the Employer.

  • Withdrawal of Members A member may withdraw from this LLC by giving written notice to all other members at least days before the date the withdrawal is to be effective.

  • Withdrawal of General Partner (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s). (b) Each General Partner shall indemnify and hold harmless the Partnership and all Partners from its Withdrawal in violation of Section 13.1(a) hereof. Each General Partner shall be liable for damages to the Partnership resulting from its Withdrawal in violation of Section 13.1(a).

  • Withdrawal of a Member For purposes of this Agreement, a “Withdrawn Member” is a member who is bankrupt, has resigned, or has retired (a “Withdrawal Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall become an Assignee of the Withdrawn Member’s Membership Interest in the Company.

  • Withdrawal from Agreement A. Any Fund may elect to withdraw from this Agreement effective at the end of any monthly period by giving at least 90 days’ prior written notice to each of the parties to this Agreement. Upon the written demand of all other Funds which are parties to this Agreement a Fund shall withdraw, and in the event of its failure to do so shall be deemed to have withdrawn, from this Agreement; such demand shall specify the date of withdrawal which shall be at the end of any monthly period at least 90 days from the time of service of such demand. B. In the event of the withdrawal of any Fund from this Agreement, all its rights and obligations, except for lease commitments, under this Agreement (except such rights or obligations as have accrued prior to the date of withdrawal) shall terminate as of the date of the withdrawal. The withdrawing Fund shall surrender its Shares to Service Company, and (1) shall be entitled to receive from Service Company an amount equal to the excess of the fair value of (i) its Shares of other securities Service Company as of the date of its withdrawal less (ii) its proportionate interest in any liabilities of Service Company, including when appropriate any commitments of Service Company and unexpired leases at the date of withdrawal; (2) shall be obligated to pay Service Company an amount equal to the excess of (ii) over (i). Such amount to be received from or paid to Service Company shall be determined by the favorable vote of the holders of a majority of the Shares whose determination shall be conclusive upon the Funds. Any amount found payable by the Service Company to the withdrawing Fund shall be recoverable by Service Company from the Funds remaining under this Agreement in accordance with the provisions of Section 1.2, 1.3 and 1.4 hereof.