Common use of Designation Term Qualifications Clause in Contracts

Designation Term Qualifications. (a) The Managers may, from time to time, designate one or more Persons to be officers of the Company. Any officer so designated shall have such title and authority and perform such duties as the Managers may, from time to time, delegate to them. Each officer shall hold office for the term for which such officer is designated and until its successor shall be duly designated and shall qualify or until its death, resignation or removal as provided in this Agreement. Any Person may hold any number of offices. No officer need be a Manager, the Member, a Delaware resident, or a United States citizen.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Oncor Electric Delivery Transition Bond Co LLC), Limited Liability Company Agreement (Oncor Electric Delivery Transition Bond Co LLC)

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Designation Term Qualifications. (a) The Managers may, from time to time, designate one or more Persons to be officers of the Company. Any officer so designated shall have such title and authority and perform such duties as the Managers may, from time to time, delegate to them. Each officer shall hold office for the term for which such officer is designated and until its successor shall be duly designated and shall qualify or until its death, resignation or removal as provided in this Agreement. Any Person may hold any number of offices. No officer need be a Manager, the Member, a Delaware resident, or a United States citizen. The Member hereby appoints the Persons identified on Schedule C to be the initial officers of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (CPL Transition Funding LLC), Limited Liability Company Agreement (CPL Transition Funding LLC)

Designation Term Qualifications. (a) The Managers may, from time to time, designate one or more Persons to be officers of the Company. Any officer so designated shall have such title and authority and perform such duties as the Managers may, from time to time, delegate to them. Each officer shall hold office for the term for which such officer is designated and until its successor shall be duly designated and shall qualify or until its death, resignation or removal as provided in this Agreement. Any Person may hold any number of offices. No officer need be a Manager, the Member, a Delaware resident, or a United States citizen.

Appears in 2 contracts

Samples: Limited Liability (Pp&l Transition Bond Co Inc), Limited Liability Company Agreement (Pp&l Transition Bond Co Inc)

Designation Term Qualifications. (a) The Managers may, from --------------------------------- time to time, designate one or more Persons to be officers of the Company. Any officer so designated shall have such title and authority and perform such duties as the Managers may, from time to time, delegate to themhim or her. Each officer shall hold office for the term for which such officer is designated and until its his or her successor shall be duly designated and shall qualify or until its his or her death, resignation or removal as provided in this Agreement. Any Person may hold any number of offices. No officer need be a Manager, the Member, a Delaware resident, resident or a United States citizen. The persons identified on Schedule D are hereby designated the initial officers of the Company.

Appears in 1 contract

Samples: Limited Liability (Reliant Energy Transition Bond Co LLC)

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Designation Term Qualifications. (a) The Managers [Managers] may, from time to time, designate one or more Persons to be officers of the Company. Any officer so designated shall have such title and authority and perform such duties as the Managers may, from time to time, delegate to them. Each officer shall hold office for the term for which such officer is designated and until its successor shall be duly designated and shall qualify or until its death, resignation or removal as provided in this Agreement. Any Person may hold any number of offices. No officer need be a Manager, the Member, a Delaware resident, or a United States citizen. The Member hereby appoints the Persons identified on Schedule C to be the initial officers of the Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Central & South West Corp)

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