Appointment and Term. The Beneficial Owner shall be entitled to appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of Managers. Managers shall serve until their respective successors are appointed by the Beneficial Owner or until their earlier death, resignation, retirement or removal.
Appears in 10 contracts
Samples: Trust Agreement (Mmca Auto Receivables Trust), Trust Agreement (Mmca Auto Owner Trust 2001-3), Trust Agreement (Mmca Auto Receivables Trust)
Appointment and Term. The Subject to Section 3.4 (b), the Beneficial Owner shall be entitled to appoint from time to time persons to serve as the managers (each, a "Manager") on the Board of Managers. Managers shall serve until their respective successors are appointed by the Beneficial Owner or until their earlier death, resignation, retirement or removal.
Appears in 2 contracts
Samples: Trust Agreement (Mmca Auto Owner Trust 2002-5), Trust Agreement (Mmca Auto Owner Trust 2002-4)
