Member Terms. Subject to Sections 4.3(i), 4.3(j) and 4.3(k) and other than the terms of the initial 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. 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, 2023, could be re-elected to serve a second Term from January 1, 2024 through December 31, 2026, and would be eligible for a third Term from January 1, 2030 through December 31, 2032, and a fourth Term from January 1, 2033 through December 31, 2035.
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Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
