Designation Term Qualifications. 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 his or her successor shall be duly designated and shall qualify or until 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, or a United States citizen. To the extent the Managers do not enumerate the powers and duties of an officer of the Company, such officers shall have the powers and duties of an officer with a comparable title of a corporation organized under the General Corporation Law of the State of Delaware. The persons identified on Schedule C are hereby designated the initial officers of the Company.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (PE Environmental Funding LLC), Limited Liability Company Agreement (MP Environmental Funding LLC), Limited Liability Company Agreement (MP Environmental Funding LLC)
Designation Term Qualifications. 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 his or her successor shall be duly designated and shall qualify or until 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, or a United States citizen. To the extent the Managers do not enumerate the powers and duties of an officer of the Company, such officers shall have the powers and duties of an officer with a comparable title of a corporation organized under the General Corporation Law of the State of Delaware. The persons identified on Schedule C D are hereby designated the initial officers of the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Jcp&l Transition Funding LLC), Limited Liability Company Agreement (Jcp&l Transition Funding LLC)
Designation Term Qualifications. 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 his or her successor shall be duly designated and shall qualify or until 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, or a United States citizen. To the extent the Managers do not enumerate the powers and duties of an officer of the Company, such officers shall have the powers and duties of an officer with a comparable title of a corporation organized under the General Corporation Law of the State of Delaware. The persons identified on Schedule C are hereby designated the initial officers of the Company.of
Appears in 1 contract
Samples: Limited Liability Company Agreement (JCP&L Transition Funding II LLC)
