Number, Tenure and Qualifications. The number of Managers of the Company and the length of the term of each Manager shall be fixed from time to time by the Members who hold a Majority In Interest. Each Manager shall hold office until removed pursuant to Section 12.12 hereof or until such Manager's successor shall have been selected. Managers need not be residents of the State of Colorado or Members of the Company.
Appears in 6 contracts
Samples: Pledge and Security Agreement (Equity Residential Properties Trust), Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Wellsford Real Properties Inc)
