Common use of Member Terms Clause in Contracts

Member Terms. Subject to Sections 4.3(i), 4.3(j) and 4.3(k) and other than the terms of the initial thirty-nine (39) Governing Members set forth on Schedule 1, Members shall serve for terms of not less than three years (each a “Term”) with each Governing Member’s Term to end on December 31 of the year in which the three-year anniversary of such Member’s admission to the Council falls. For the avoidance of doubt, the Original Member shall not have a Term that ends and shall serve indefinitely. Each Governing Member may be re-elected for a second consecutive Term upon the approval of at least two-thirds of the Members obtained according to the procedure outlined in Section 4.3(d). No Governing Member shall serve for more than two Terms consecutively. For the avoidance of doubt, a Governing Member that has served two consecutive Terms shall be eligible for reelection to the Council on the three-year anniversary of the expiration of its second Term.

Member Terms. Subject to Sections 4.3(i4.3(j), 4.3(j4.3(k) and 4.3(k4.3(l) and other than the terms of the initial thirty-nine (39) Governing Members set forth on Schedule 1, Members shall serve for terms of not less than three two years (each a “Term”) with ); provided, however, that each Governing Member’s Term to shall end on December 31 of the year in which the threetwo-year anniversary of such Member’s admission to the Council falls. For the avoidance of doubt, the Original Member shall not have a Term that ends and shall serve indefinitely. Each Governing Member may be re-elected for a second consecutive Term upon the approval of at least two-thirds (2/3) of the Members obtained according to the procedure outlined in Section 4.3(d). No Governing Member shall serve for more than two Terms consecutively. For the avoidance of doubt, a Governing Member that has served two consecutive Terms shall be eligible for reelection to the Council on the threetwo-year anniversary of the expiration of its second Term. For illustration purposes only, a Governing Member, other than an initial Governing Member, elected on June 1, 2020 would serve its first Term until December 31, 2022, could be re-elected to serve a second Term from January 1, 2023 through December 31, 2025, and would be eligible for a third Term from January 1, 2027 through December 31, 2029, and a fourth Term from January 1, 2030 through December 31, 2032.