Common use of Withdrawal of the Manager Clause in Contracts

Withdrawal of the Manager. Prior to the five-year anniversary of the closing of the Offerings, the Manager may only withdraw from its role as Manager and its obligations under the Administrative Services Agreement in connection with a withdrawal by the Initial Member and its Affiliates from the business of operating an online investment platform that allows investors to acquire ownership of an interest in special purpose companies that invest in distinct artworks. At any time following five-year anniversary of the closing of the Offerings, the Manager may withdraw for any reason upon notice to the Initial Member, provided that such withdrawal shall be effective only following a Sale of the Painting.

Withdrawal of the Manager. Prior to the five-year anniversary of the closing of the OfferingsOffering, the Manager may only withdraw from its role as Manager and its obligations under the Administrative Services Agreement in connection with a withdrawal by the Initial Member and its Affiliates from the business of operating an online investment platform that allows investors to acquire ownership of an interest in special purpose companies that invest in distinct artworks. At any time following five-year anniversary of the closing of the OfferingsOffering, the Manager may withdraw for any reason upon notice to the Initial Member, provided that such withdrawal shall be effective only following a Sale of the Painting.