Removal or Replacement of a Manager Sample Clauses

Removal or Replacement of a Manager. Any Manager, as selected by the Initial Member, may only be removed or replaced (i) without “Causeat any time by a majority of the Board or (ii) for “Cause” and only upon the approval of Voting Members holdings at least two-thirds of the Voting Shares. For purposes herein, “Cause” shall mean:
Removal or Replacement of a Manager. Any Manager may be removed or replaced without “Causeat any time by a majority of the Board and each Manager may be removed and or replaced and our Board can be reconstituted for any reason by the Class C Member, if any.
Removal or Replacement of a Manager. Any Manager may be removed or replaced without “Causeat any time by a majority of the Board and each Manager may be removed and or replaced and our Board can be reconstituted for any reason by a Primary Masterworks Portfolio Investor, if any. A “Masterworks Portfolio Investor” is an entity sponsored by Masterworks that has offered and sold securities to unaffiliated investors representing investment in a portfolio of artwork and artwork investments and such portfolio includes one or more Class A shares offered hereby. In the event there is only one entity that constitutes a Masterworks Portfolio Investor, such entity shall be the “Primary Masterworks Portfolio Investor.” In the event that at any point in time there is more than one Masterworks Portfolio Investor, the “Primary Masterworks Portfolio Investor” is the Masterworks Portfolio Investor that owns more Class A shares than any other Masterworks Portfolio Investor.
Removal or Replacement of a Manager. Any Manager may be removed or replaced without “Causeat any time by a majority of the Board and each Manager may be removed and or replaced and our Board can be reconstituted for any reason by the Class C Member, if any.In addition, any Manager may be removed for “Cause” upon the approval of Voting Members holdings at least two-thirds of the Voting Shares. For purposes herein, “Cause” shall mean:

Related to Removal or Replacement of a Manager

  • Withdrawal or Removal of Partners Section 11.1 Withdrawal of the General Partner 96 Section 11.2 Removal of the General Partner 98 Section 11.3 Interest of Departing General Partner and Successor General Partner 98 Section 11.4 Termination of Subordination Period, Conversion of Subordinated Units and Extinguishment of Cumulative Common Unit Arrearages 100 Section 11.5 Withdrawal of Limited Partners 100