Effect of Removal. After the effective date of removal as Manager, any removed Manager shall cease to be the Manager, but shall continue to be a Member (if applicable) and maintain (i) all of the same economic rights it had prior to removal as Manager, (ii) the right to approve Major Decisions (if such Person is a Qualifying Member), and (iii) its other rights as described herein.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Griffin-American Healthcare REIT III, Inc.), Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.), Limited Liability Company Agreement (Griffin-American Healthcare REIT III, Inc.)
Effect of Removal. After the effective date of removal as Manager, any removed Manager shall cease to be the Manager, but shall continue to be a Member (if applicable) and maintain (i) all of the same economic rights it had prior to removal as Manager, (ii) the right to approve Major Decisions (if such Person is a Qualifying Member), and (iii) its other rights as described herein.,
Appears in 1 contract
Samples: Limited Liability Company Agreement (NorthStar Healthcare Income, Inc.)
