Selection; Termination and Resignation. The Financial Partner shall be selected by a 4/5th supermajority vote of the members of the Board by written consent. The Financial Partner may be removed with or without cause by a 4/5th supermajority vote of the Board at any time. The Financial Partner may resign at any time by providing ninety (90) days written notice to the Board. If the Financial Partner provides notice to the Board of its resignation, the Board shall select, by a 4/5th supermajority vote of the Board, a new entity to fill the role of the Financial Partner. It is recognized that any agreement for direction or return of funds between a donating entity and the Financial Partner will supersede directions by the Board under this paragraph.
Appears in 2 contracts
Sources: Collaboration and Administration Agreement, Collaboration and Administration Agreement