Common use of Removal, Resignation and Vacancies Clause in Contracts

Removal, Resignation and Vacancies. The Members may remove any Manager, either with or without cause in accordance with the terms of this Operating Agreement. Any Manager may resign at any time by giving written notice to the Members. Any such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein; and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. The Members may replace any vacancy in the office of any Manager.

Appears in 2 contracts

Samples: Operating Agreement (Amscan Holdings Inc), Operating Agreement (Amscan Holdings Inc)

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Removal, Resignation and Vacancies. The Members Member may remove any Manager, either with or without cause in accordance with the terms of this Operating Agreementcause. Any Manager may resign at any time by giving written notice to the Membersremaining Managers or, if no remaining Manager, to the Member. Any such resignation shall take effect at on the date of the receipt of such notice or at any later time specified therein; and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. The Members Member may replace fill any vacancy in the office of any ManagerManager or any vacancy caused by an increase in the number of Managers and such Manager shall hold the office until he, she or it resigns or is removed or is otherwise disqualified to serve.

Appears in 1 contract

Samples: Operating Agreement (Affinity Gaming)

Removal, Resignation and Vacancies. The Members (a) Subject to Section 6.1 above, a Member may remove any Managerof its nominee Managers, either with or without cause in accordance with the terms of this Operating Agreement. Any Manager may resign at any time by giving written notice to the Members. Any such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein; and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. The Members may replace any vacancy in the office of any Manager.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Showboat Inc)

Removal, Resignation and Vacancies. The Members Member may remove any Manager, either with or without cause in accordance with the terms of this Operating Agreementcause. Any Manager may resign at any time by giving written notice to the Membersremaining Managers or, if no remaining Manager, to the Member. Any such resignation shall take effect at on the date of the receipt of such notice or at any later time specified therein; and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. The Members may replace any Any vacancy in the office of any ManagerManager may be filled by the Member by the appointment of a successor Manager who shall hold the office until such Manager resigns or is removed or otherwise disqualified to serve.

Appears in 1 contract

Samples: Operating Agreement (Ace Gaming LLC)

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Removal, Resignation and Vacancies. The Members Any Manager may remove any Manager, either be removed from office with or without cause in accordance with by the terms affirmative vote or written consent of this Operating Agreementthe Members owning at least 66% of the total Membership Interests. Any Manager may resign at any time by giving written notice to the MembersMembers and the other Managers (if any). Any such resignation shall take effect at on the date of the receipt of such notice or at any later time specified therein; and, unless . Unless otherwise specified thereinin such notice, the acceptance of such resignation shall not be necessary to make it effective. The Members may replace fill any vacancy in the office of any ManagerManager pursuant to Section 5.3.

Appears in 1 contract

Samples: Operating Agreement (155 East Tropicana, LLC)

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