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.
Appears in 9 contracts
Samples: Limited Liability Company Operating Agreement (Decrane Holdings Co), Limited Liability Company Operating Agreement (Decrane Holdings Co), Limited Liability Company Operating Agreement (Decrane Aircraft Holdings Inc)
