Term of Office; Removal; Filling of Vacancies. Each officer of the Company shall hold office until his successor is chosen and qualified in his stead or until his earlier death, resignation, retirement disqualification or removal from office. Any officer designated by the Manager may be removed at any time by the Manager whenever in his judgment the best interests of the Company will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Designation of an officer shall not of itself create contract rights. If the office of any officer becomes vacant for any reason, the vacancy may be filled by the Manager.
Appears in 2 contracts
Samples: Operating Agreement (Worldwide Web Networx Corp), Operating Agreement (Worldwide Web Networx Corp)
Term of Office; Removal; Filling of Vacancies. Each officer of the Company shall hold office until his successor is chosen and qualified in his stead or until his earlier death, resignation, retirement retirement, disqualification or removal from office. Any officer designated by the Manager Managers may be removed at any time by the Manager Managers whenever in his their judgment the best interests of the Company will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Designation of an officer shall not of itself create contract rights. If the office of any officer becomes vacant for any reason, the vacancy may be filled by the ManagerManagers.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Great Plains Energy Inc), Operating Agreement (Global Realty Development Corp)
Term of Office; Removal; Filling of Vacancies. Each officer of the Company shall hold office until his successor is chosen and qualified in his stead or until his earlier death, resignation, retirement disqualification or removal from office. Any officer designated by the Manager Members may be removed at any time by the Manager Members whenever in his its judgment the best interests of the Company will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Designation of an officer shall not of itself create contract rights. If the office of any officer becomes vacant for any reason, the vacancy may be filled by the ManagerMembers.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Samson Holdings, Inc.)
