Common use of Appointment and Term Clause in Contracts

Appointment and Term. The Members will be entitled to appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of Managers. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of Section 18-101(10) of the Act.

Appears in 10 contracts

Samples: Operating Agreement (Macro Inflation Depositor, LLC), Operating Agreement (Claymore MACROshares Oil Down Holding Trust), Operating Agreement (Claymore MACROshares Oil Up Holding Trust)

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Appointment and Term. The Members Member will be entitled to appoint from time to time persons to serve as the managers members (each, a "Manager") on of the Board of ManagersBoard. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as will constitute a "manager" of the Company within the meaning of Section 18-101(10) 101 of the Act. Each Manager will be vested solely with the authority set forth in this Agreement.

Appears in 8 contracts

Samples: Limited Liability Company Agreement (Mercedes-Benz Auto Receivables Trust 2022-1), Limited Liability Company Agreement (Daimler Trucks Retail Receivables LLC), Limited Liability Company Agreement (California Republic Funding LLC)

Appointment and Term. The Members Subject to Section 4.3, the Member will be entitled to appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of ManagersBoard. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as will constitute a "manager" of the Company within the meaning of Section 18-101(10101(12) of the Act. Each Manager will be vested solely with the authority set forth in this Agreement. Each Manager shall execute a counterpart of this Agreement agreeing to be bound hereby.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2023-3), Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2022-3), Limited Liability Company Agreement (GM Financial Automobile Leasing Trust 2023-2)

Appointment and Term. The Members will be entitled to Member may appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of Managers. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of under Section 18-101(10) 101 of the Act.

Appears in 4 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (CAB East LLC), Limited Liability Company Agreement (CAB East LLC)

Appointment and Term. The Members will be entitled to Member may appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of Managers. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of under Section 18-101(10) of the Act.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Ford Credit Auto Receivables Two LLC), Limited Liability Company Agreement (Ford Credit Floorplan LLC), Limited Liability Company Agreement (Ford Credit Auto Receivables Two LLC)

Appointment and Term. The Members will Member shall be entitled to appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of Managers. Managers will shall serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of Section 18-101(10) of the Act.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Ford Credit Auto Receivables Two LLC), Limited Liability Company Agreement (Ford Credit Auto Receivables Two LLC), Limited Liability Company Agreement (Ford Credit Auto Receivables Two LLC)

Appointment and Term. The Members will be Member is entitled to appoint from time to time persons individuals to serve as the managers (each, a "Manager") on the Board of Managers. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of Section 18-101(10) of the Act.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Ford Credit Floorplan Corp), Limited Liability Company Agreement (Triad Financial Special Purpose LLC)

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Appointment and Term. The Members will be Member is entitled to appoint from time to time persons individuals to serve as the managers (each, a "Manager") on the Board of Managers. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of Section 18-101(10) of the Act.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ford Credit Floorplan LLC)

Appointment and Term. The Members will Member shall be entitled to appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of Managers. Managers will shall serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of Section 18-101(10) of the Act.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ford Credit Auto Receivables Two LLC)

Appointment and Term. The Members Member will be entitled to appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of Managers. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of Section 18-101(10) of the Act.

Appears in 1 contract

Samples: Operating Agreement (MACRO Securities Depositor, LLC)

Appointment and Term. The Members will be Member is entitled to appoint from time to time persons individuals to serve as the managers (each, a "Manager") on the Board of Managers. Managers will serve until their respective successors are appointed by the Members, as provided under Section 4.11 herein, Member or until their earlier death, disability, resignation, retirement or removal, pursuant to Section 4.10 herein. Each Manager is hereby designated as a "manager" of the Company within the meaning of Section 18-101(10) of the Act.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ford Credit Auto Receivables LLC)

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