Common use of Election, Term of Office and Qualifications Clause in Contracts

Election, Term of Office and Qualifications. Officers may be elected from time to time by the Board of Managers. Each of the Chairman and the President shall have the power to appoint officers, other than the Chairman, President, Secretary and Treasurer. The term of each officer elected by the Board of Managers shall be until their successor is elected and qualified unless sooner terminated as provided in this Agreement or by law, or until their office is eliminated by amendment of this Agreement, in the case of the Named Officers, or by action of the Board of Managers, in the case of officers other than the Named Officers. The term of each officer appointed by the Chairman or the President shall be until terminated as provided in this Agreement or by law, or until their office is eliminated by amendment of this Agreement, in the case of the Named Officers, or by action of the Board of Managers, in the case of officers other than the Named Officers. The term of an officer who is a Manager shall not be affected by the termination of the officer's Managership.

Election, Term of Office and Qualifications. Officers may be elected from time to time by the Board of Managers. Each of the Chairman and the President shall have the power to appoint officers, other than the Chairman, President, Secretary and Treasurer. The term of each officer elected by the Board of Managers shall be until their successor is elected and qualified unless sooner terminated as provided in this Agreement or by law, or until their office is eliminated by amendment of this Agreement, in the case of the Named Officers, or by action of the Board of Managers, in the case of officers other than the Named Officers. The term of each officer appointed by the Chairman or the President shall be until terminated as provided in this Agreement or by law, or until their office is eliminated by amendment of this Agreement, in the case of the Named Officers, or by action of the Board of Managers, in the case of officers other than the Named Officers. The term of an officer who is a Manager shall not be affected by the termination of the officer's ’s Managership.