The Vice Presidents. The title of Vice President may be preceded by the words “Executive”, “Senior”, or “Assistant” to indicate the rank of such Vice President, set forth above in the order of rank with “Executive” being the highest rank of Vice President. The term Vice President(s) as used in these by-laws shall include all ranks of Vice President. The Vice Presidents shall possess the power to sign all certificates, contracts, obligations and other instruments to which the Company is a party and such execution by any one of the Vice Presidents shall be legal, valid, and binding upon the Company. During the absence or disability of the President, the Vice President or, if there are more than one, the Vice Presidents in the order of (i) rank, (ii) election, or (iii) as determined by the board of Managers, shall have all of the powers and functions of the President. Each Vice President shall perform such other duties as the President may delegate or as the Board of Managers shall prescribe.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (CIT Group/Corporate Aviation, Inc.), Limited Liability Company Agreement (CIT Group/Corporate Aviation, Inc.), Limited Liability Company Agreement (CIT Group/Corporate Aviation, Inc.)
The Vice Presidents. The title of Vice President may be preceded by the words “Executive”, “Senior”, or “Assistant” to indicate the rank of such Vice President, set forth above in the order of rank with “Executive” being the highest rank of Vice President. The term Vice President(s) as used in these by-laws this Agreement shall include all ranks of Vice President. .
(i) The Vice Presidents shall possess the power to sign all certificates, contracts, obligations and other instruments to which the Company is a party and such execution by any one of the Vice Presidents shall be legal, valid, and binding upon the Company. During the absence or disability of the President, the Vice President or, if there are more than one, the Vice Presidents in the order of (i) rank, (ii) election, or (iii) as determined by the board of Managersdirectors, shall have all of the powers and functions of the President. Each Vice President shall perform such other duties as the President may delegate or as the Board of Managers Directors shall prescribe.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CIT Group/Corporate Aviation, Inc.)