Common use of Vacancies; Removal Clause in Contracts

Vacancies; Removal. Vacancies resulting from death, resignation, retirement, removal from office or other cause, and newly created directorships resulting from any increase in the authorized number of Directors, may be filled only by the Managing Members. Any Director may be removed at any time, with or without cause, by the Managing Members in their sole discretion.

Appears in 7 contracts

Samples: Operating Agreement (Lazard LTD), Operating Agreement (Lazard Group LLC), Operating Agreement (Lazard LTD)

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Vacancies; Removal. Vacancies resulting from death, resignation, retirement, removal from office or other cause, and newly created directorships resulting from any increase in the authorized number of Directors, may be filled only by the Managing MembersMember. Any Director may be removed at any time, with or without cause, by the Managing Members Member in their its sole discretion.

Appears in 4 contracts

Samples: Operating Agreement, Operating Agreement (Lazard LTD), Operating Agreement (Lazard LTD)

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