Term of Manager Clause Samples
The 'Term of Manager' clause defines the duration for which a manager is appointed or authorized to act under an agreement. Typically, it specifies the start and end dates of the manager's engagement, and may outline conditions for renewal, extension, or early termination of the manager's term. This clause ensures both parties are clear on the timeframe of the manager's authority, helping to prevent disputes over the manager's continued role and providing a structured timeline for performance and review.
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Term of Manager. The Manager's term shall continue until the Manager's resignation, termination by operation of law or death (as applicable for the then current Manager), or removal by the Company. The Company shall be entitled, in its sole discretion, to remove or replace the Manager at any time and for any reason.
Term of Manager. The Manager shall serve until the Member’s withdrawal from the Company. At such time any existing or new Members may elect a new Manager through vote of the Members then owning more than 50% in Membership Interests.
Term of Manager. Except as otherwise stated in this Operating Agreement, no Manager shall have any contractual right to such position. A Manager shall serve until the earliest of:
(1) The Resignation of such Manager; (2) Removal of the Manager with or without Cause by Majority in Interest of the Members; (3) Full liquidation of the Company and termination or surrender of its legal charter; or
Term of Manager. The Sole Member shall have the complete authority to determine the term and identity of the Manager. Without limiting the scope of the above provision, the Sole Member shall be entitled to appoint a Manager who holds no membership interest in the Company, and to remove or replace any Manager at any time and for any reason. A Manager’s term shall continue until the removal or replacement of the Manager by the Sole Member, or until (as applicable for the then current Manager) the Manager’s resignation, retirement, death, disability, dissolution or termination by operation of law.
Term of Manager. No Person shall have any contractual right to serve as a Manager. Each Manager shall serve until the earliest of:
3.3.1. The expiration of any time period, if any is identified at the time of appointment, during which the Manager was appointed to serve;
3.3.2. The Dissociation of such Manager;
3.3.3. The Resignation of such Manager, or
3.3.4. Removal of such Manager for Gross Negligence, improper self-dealing or embezzlement, pursuant to Section 3.9 hereof.
Term of Manager. If the Manager is not the Sole Member: (a) the Sole Member shall be entitled, in its sole discretion, to remove or replace the Manager at any time and for any reason; and
Term of Manager. A Manager whose term has expired shall continue to serve until a successor is elected and qualified.
Term of Manager. Each Manager shall serve until the earlier of: (i) the resignation of such Person; (ii) the removal of such Person for gross negligence, self-dealing, embezzlement or material breach of this Agreement by all other Members; or (iii) the removal or replacement of the Manager by the Preferred Member in accordance with the Certificate of Designation.
Term of Manager. The Manager will serve as manager until its removal or resignation in accordance with Section 6.3.
Term of Manager. 14 7.3 AUTHORITY OF MANAGERS TO BIND THE COMPANY . . . . . . . . . . 14 7.4 RESTRICTIONS ON POWERS OF THE MANAGERS . . . . . . . . . . . . 15