Common use of President and Vice President Clause in Contracts

President and Vice President. The President shall be the chief executive officer of the Trust. The Vice President, or if there be more than one Vice President, the Vice Presidents, in the order determined by the Trustees (or if there be no such determination, then in the order of their election) shall in the absence of the President or in the event of his inability or refusal to act, perform the duties of the President, and when so acting, shall have all the powers of and be subject to all the restrictions upon the President. The President and Vice Presidents shall perform such other duties and have such other powers as the Board may from time to time prescribe.