Terms of Managers Sample Clauses

Terms of Managers. No Manager shall have any contractual right to such position. A Manager shall serve until the earliest of the Manager’s resignation or the Manager’s removal by the Members.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Terms of Managers. Managers shall serve terms of 3 years. A Manager may succeed himself for only 2 consecutive terms. After serving 2 consecutive terms, a Manager must vacate his position for at least 1 year before seeking reelection to another term.
Sample 1Sample 2
Terms of Managers. Managers shall serve until such Manager resigns, is disabled, or is removed in accordance with this Agreement.
Sample 1
Terms of Managers. The initial terms of the initial Managers shall be three (3) years from the date of this Agreement. Thereafter, the Board of Managers will develop a staggered plan for all current and added Managers to be approved by the Members. Despite the expiration of a Manager’s term, such Manager shall continue to serve until the Manager’s successor is elected and qualified or until the Manager’s seat on the Board of Managers is eliminated by the Members.
Sample 1

Related to Terms of Managers

  • Duties of Managers Except as provided in this Agreement, in exercising their rights and performing their duties under this Agreement, the Managers shall have a fiduciary duty of loyalty and care similar to that of a director of a business corporation organized under the General Corporation Law of the State of Delaware.

  • Number of Managers The initial number of Managers shall be one (1) Manager. The number of Managers may be changed by the vote or consent of the Member.

  • Committees of Managers (a) The Managers may, by resolution passed by a majority of the Managers, designate one or more committees, each committee to consist of one or more of the Managers. The Managers may designate one or more Managers as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee.

  • Removal of Managers At any special meeting of the Members, duly called as provided in this LLC Agreement, any manager or managers may, by the affirmative vote of the holders of a majority of all the Percentage Ownership entitled to vote for the election of managers, be removed from office, either with or without cause. At such meeting a successor or successors may be elected by a majority of the votes cast.

  • Duties of Manager The Manager, at its own expense, shall furnish the following services and facilities to the Trust:

  • Compensation of Managers Except as may be expressly provided for herein or hereafter approved by the Member, no payment will be made by the Company to any Manager for the services of such Manager or any partner or employee of the Manager.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!