Common use of Vacancies and Removal Clause in Contracts

Vacancies and Removal. Subject to applicable law and the rights of the holders of any series of Interests, vacancies existing on the Board of Directors (including a vacancy created by virtue of an increase in the size of the Board of Directors) may be filled only by the affirmative vote of a majority of the Directors then serving, even if less than a quorum. Any Director chosen to fill a vacancy shall hold office until the next annual meeting of Members and until his successor has been duly elected and qualified or until their earlier resignation or removal. Subject to the rights of the holders of any series of Interests, any Director, and the entire Board of Directors, may be removed from office at any time by the affirmative vote of the Record Holders of a majority of the voting power of the Company.

Vacancies and Removal. Subject to applicable law Law and the rights of the holders of any series of InterestsPreferred Shares, vacancies existing on the Board of Directors (including a vacancy created by virtue of an increase in the size of the Board of Directors) may be filled only by the affirmative vote of a majority of the Directors then serving, even if less than a quorum. Any Director chosen to fill a vacancy shall hold office until for a term expiring at the next annual meeting of Members Shareholders and until his successor has been duly elected and qualified or until their earlier resignation or removalqualified. Subject to the rights of the holders of any series of InterestsPreferred Shares, any Director, and or the entire Board of Directors, may be removed from office at any time time, with or without cause, but only by the affirmative vote or consent of the Record Holders holders of a majority of the voting power Company Securities entitled to vote with respect to the election of the CompanyDirectors.