Common use of Appointment; Resignation Clause in Contracts

Appointment; Resignation. The Members hereby appoint the Manager as the "partnership representative" as provided in Section 6223(a) of the Code (the "Partnership Representative"). The Partnership Representative can be removed at any time by a vote of Members holding 66% of the Security Interests of the Company, and shall resign if it is no longer the Manager. In the event of the resignation or removal of the Tax Matters Representative, the holders of a majority of the Security Interests of the Company shall appoint a new Tax Matters Representative.

Appears in 4 contracts

Sources: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement

Appointment; Resignation. The Members hereby appoint the Manager as the "partnership representative" as provided in Section 6223(a) of the Code (the "Partnership Tax Matters Representative"). The Partnership Tax Matters Representative can be removed at any time by a vote of Members holding 66% a majority of the Security Membership Interests of the Company, and shall resign if it is no longer the Managera Member. In the event of the resignation or removal of the Tax Matters Representative, the holders of a majority of the Security Membership Interests of the Company shall appoint a new Tax Matters Representative.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Accel Entertainment, Inc.)

Appointment; Resignation. The Members hereby appoint the Manager as the "partnership representative" as provided in Code Section 6223(a) (as amended by the Bipartisan Budget Act of the Code 2015 (“BBA”)) (the "Partnership Representative"). The Partnership Representative can be removed may resign at any time by time. If a vote of Members holding 66% of Manager ceases to be the Security Interests of the Company, and shall resign if it is no longer the Manager. In the event of the resignation or removal of the Tax Matters RepresentativePartnership Representative for any reason, the holders of a majority of the Security Interests voting power represented by then outstanding Units of the Company shall appoint a new Tax Matters Partnership Representative.

Appears in 1 contract

Sources: Operating Agreement (Flewber Global Inc.)

Appointment; Resignation. The Members hereby appoint the Manager [▇▇▇▇▇▇▇▇] as the "partnership representative" as provided in Section 6223(a) of the Code (the "Partnership “Tax Matters Representative"). The Partnership Tax Matters Representative can be removed at any time by a vote of Members holding 66% all of the Security Membership Interests of the Company, and shall resign if it is no longer the Manager. In the event of the resignation or removal of the Tax Matters Representative, the holders of a majority all of the Security Membership Interests of the Company shall appoint a new Tax Matters Representative.

Appears in 1 contract

Sources: Operating Agreement (Alternus Clean Energy, Inc.)