Term; Removal. Each officer of the Company shall hold office until such officer’s successor is chosen and qualified or such officer’s earlier death, resignation or removal. Any officer appointed by the Member may be removed at any time by the Member, with or without cause.
Term; Removal. The Managing Member will serve as Managing Member of the Company and each Series for an indefinite term. Notwithstanding the foregoing, the Managing Member may be removed by the Members of the Company acting by way of a Super Majority Vote if the Managing Member is found by a non-appealable judgment of a court of competent jurisdiction to have committed fraud in connection with a Series or the Company and which has a material adverse effect on the Company. The Managing Member shall call a meeting of all of the Members of the Company within 30 calendar days of such final non-appealable judgment of a court of competent jurisdiction, at which the Members may (i) by Super Majority Vote, remove the Managing Member of the Company and each relevant series in accordance with this Article X and (ii) if the Managing Member is so removed, by a plurality, appoint a replacement Managing Member or approve the liquidation and dissolution and termination of the Company and each of the series in accordance with Article XI. If the Managing Member fails to call a meeting as required by this Article X, then any Members shall have the ability to demand a list of all Record Holders of the Company pursuant to Section 8.1(b) and to call a meeting at which such a vote shall be taken. In the event of its removal, the Managing Member shall be entitled to receive all amounts that have accrued and are then currently due and payable to it pursuant to this Agreement but shall forfeit its right to any future distributions. If the Managing Member of a aeries and the Property Manager of a Series shall be the same Person or controlled Affiliates, then the Managing Member’s appointment as Property Manager of such series shall concurrently automatically terminate. Prior to its admission as a Managing Member of any series, any replacement Managing Member shall acquire the Interests held by the departing Managing Member in such series, if any, for fair market value and in cash immediately payable on the Transfer of such Interests and appoint a replacement Property Manager on the same terms and conditions set forth herein and in the property management agreement. For the avoidance of doubt, if the Managing Member is removed as Managing Member of the Company it shall also cease to be Managing Member of each of the series
Term; Removal. Each director serves at the pleasure of the Member who designated him or her pursuant to Section 3.1; and each Member having the right to designate one or more directors may remove and replace such designated directors at will, by notice to the Managers and directors. In the event a Member sells, transfers or loses all of its Interests in the Company, all directors designated by such Member shall be removed from the Board of Directors and their seats shall be declared vacant.
Term; Removal. All officers of the Corporation elected by the Board shall hold office for such terms as may be determined by the Board or, except with respect to his or her own office, the Chief Executive Officer, or until their respective successors are chosen and qualified or until his or her earlier resignation or removal. Any officer may be removed from office at any time either with or without cause by the Board, or, in the case of appointed officers, by the Chief Executive Officer or any elected officer upon whom such power of removal shall have been conferred by the Board.
Term; Removal. The Managers shall serve for an indefinite term at the pleasure of the Members. A Manager may be removed from office at any time with or without cause by the Members.
Term; Removal. The Manager will serve as our managing member for an indefinite term, but that the Manager may be removed for “Cause” following an affirmative vote of two-thirds of the Company’s Investors, or may choose to withdraw as manager, under certain circumstances.
Term; Removal. Each Representative appointed shall serve until a successor is appointed by the Persons entitled to appoint such Representative hereunder by written notice to the Corporation and the other Representatives or his or her earlier resignation, death or removal. A Representative may resign at any time upon written notice to the Committee. The Person or Persons entitled to designate a specific Representative shall be the only Person or Persons entitled to remove such Representative.
Term; Removal. Once appointed, members of the Steering Committee will serve on the Steering Committee until they resign or are removed pursuant to the terms of this Agreement, or their earlier death, disability or incapacity. Notwithstanding any provision in this Agreement to the contrary, a member of the Steering Committee may only be removed from the Steering Committee, with or without cause at any time, by the applicable Member entitled to appoint such member of the Steering Committee pursuant to Section 7.2. No Member shall take any action to cause the removal of any member of the Steering Committee other than in accordance with this Section 7.3.
Term; Removal. Subject to his or her earlier death, resignation or removal, each Executive Officer shall hold his or her office until his or her successor shall have been elected or appointed and shall have qualified, or until his or her earlier death, resignation or removal. Subject to the provisions of Section 6.05, any Executive Officer may be removed at any time, with or without cause.
Term; Removal. The officers of the Corporation shall hold office until their successors are chosen and qualify. Any officer elected or appointed by the Board of Directors may be removed or suspended at any time by the affirmative vote of a majority of the directors at any meeting of the Board at which there is a quorum, without the necessity of specifying any cause therefor and without any prior notice of such action to the officer so removed or suspended. All officers, employees and agents, other than officers elected or appointed by the Board of Directors, may be suspended or removed by the committee of the Board of Directors or officer appointing them.
