Common use of MANAGER INCAPACITY Clause in Contracts

MANAGER INCAPACITY. Notwithstanding any other provision contained herein, in the event (i) of the resignation of the Manager pursuant to Section 5.5.2, (ii) the removal of the Manager for cause pursuant to Section 5.5.3, or (ii) the Bankruptcy of the Manager such that Manager is no longer capable of performing the functions required of the manager hereunder, by the affirmative vote or written consent of a majority interest, the Class B Members may appoint a new manager to manage the Company and/or elect one of the Members to manage the Company. ACCOUNTING, RECORDS AND REPORTING

Appears in 2 contracts

Sources: Operating Agreement (Molecular Imaging Corp), Operating Agreement (Molecular Imaging Corp)