Organization of the Board. (a) The Board shall annually elect one of its Directors to be Chairman of the Board and shall fill any vacancy in the position of Chairman of the Board at such time and in such manner as the Board shall determine. The Chairman of the Board may be, but need not be, an officer of or employed in an executive or any other capacity by the Company.
Appears in 7 contracts
Samples: Limited Liability Company Agreement (John Deere Receivables LLC), Limited Liability Company Agreement (Ally Auto Assets LLC), Limited Liability Company Agreement (John Deere Receivables LLC)
Organization of the Board. (a) The Board shall annually elect one of its Directors to be Chairman of the Board and shall fill any vacancy in the position of Chairman of the Board at such time and in such manner as the Board shall determine. The Chairman of the Board may be, but need not be, an officer Officer of or employed in an executive or any other capacity by the Company.
Appears in 1 contract
Samples: Carvana Receivables Depositor LLC
