Common use of Vacancies and Removal Clause in Contracts

Vacancies and Removal. A director designated above in Section 1 shall be elected at any annual or special meeting of shareholders and shall serve until his or her successor is elected and qualified or until his or her earlier resignation or removal. Any director may be removed during his term of office in accordance with the bylaws of the Company and the Colorado Business Corporation Act. Any vacancy in the office of a director may be filled in accordance with the bylaws of the Company and the Colorado Business Corporation Act, provided, however, that in the event the BOCO Director or the GDBA Director is removed, resigns or ceases to serve as a director for any reason, BOCO or GDBA, as applicable, shall be entitled to name the replacement for such director in accordance with Section 1 hereof.

Vacancies and Removal. A director designated above in Section 1 shall be elected at any annual or special meeting of shareholders and shall serve until his or her successor is elected and qualified or until his or her earlier resignation or removal. Any director may be removed during his term of office in accordance with the bylaws of the Company and the Colorado Business Corporation Act. Any vacancy in the office of a director may be filled in accordance with the bylaws of the Company and the Colorado Business Corporation Act, provided, however, that (i) in the event the BOCO Director or the GDBA Director is removed, resigns or ceases to serve as a director for any reason, BOCO or GDBA, as applicable, shall be entitled to name the replacement for such director in accordance with Section 1 hereof, and (ii) in the event any outside director is removed, resigns or ceases to serve as a director for any reason, BOCO or GDBA, jointly, shall be entitled to name the replacement for such director in accordance with Section 1 hereof.

Vacancies and Removal. A director designated above in Section 1 shall be elected at any annual or special meeting of shareholders and shall serve until his or her successor is elected and qualified or until his or her earlier resignation or removal. Any director may be removed during his or her term of office in accordance with the bylaws of the Company and the Colorado Business Corporation Act. Any vacancy in the office of a director may be filled in accordance with the bylaws of the Company and the Colorado Business Corporation Act, ; provided, however, that in the event that any of the BOCO Director BOCO/GDBA Directors or the GDBA Director NexCore Directors is removed, resigns resigns, or ceases to serve as a director for any reason, BOCO and GDBA jointly, or GDBAthe Trustees, as applicable, shall be entitled to name the replacement for such director in accordance with Section 1 hereof.