Common use of Appointment and Term of Office Clause in Contracts

Appointment and Term of Office. The officers of the Company shall be appointed by the Board of Managers for such term as is determined by the Board of Managers. If no term is specified, each officer shall hold office until the officer resigns, dies, or is removed in the manner provided in Section 5.4. If a vacancy shall occur in any office, or if a new office shall be created, the Board of Managers may appoint an officer or officers to fill such vacancy or new office, and such appointment shall be for the term determined by the Board of Managers. Each officer shall hold office until his successor shall have been duly appointed. The designation of a specified term shall not grant or be deemed to grant to the officer any contract rights, and the Board of Managers may remove the officer at any time prior to the end of such term.

Appointment and Term of Office. The officers of the Company shall be appointed by the Board of Managers for such term as is may be determined by the Board of Managers. If no term is specified, each officer shall hold office until the officer resigns, dies, or is removed in the manner provided in Section 5.45.4 hereof. If a vacancy shall occur in any office, or if a new office shall be created, the Board of Managers may appoint an officer or officers to fill such vacancy or new office, and such appointment shall be for the term determined by the Board of Managers. Each officer shall hold office until his successor shall have been duly appointed. The designation of a specified term shall not grant or be deemed to grant to the officer any contract rights, and the Board of Managers may may, with or without cause, remove the such officer at any time prior to the end of such term.