Officers of the LLC. The Managing Member may designate one or more individuals as officers of the LLC (collectively, the “Officers” and each, an “Officer”), who may but need not have titles. The Officers shall exercise and perform such powers and duties as shall be assigned to them from time to time by the Managing Member. Any Officer may be removed by the decision of the Managing Member at any time, with or without cause. Each Officer shall hold office until his or her successor is elected and qualified. Any number of offices may be held by the same individual. To the extent appointed by the Managing Member, the Officers shall include the following Officers and such other Officers as the Managing Member may from time to time determine:
Officers of the LLC. The Managing Member may designate one or more individuals as officers of the LLC (collectively, the “Officers” and each, an “Officer”), who may but need not have titles, and shall, subject to Section 4.6, exercise and perform such powers and duties as shall be assigned to them from time to time by the Managing Member. Any Officer may be removed by the decision of the Member or the Managing Member at any time, with or without cause. Each Officer shall hold office until his or her successor is elected and qualified. Any number of offices may be held by the same individual. Except as otherwise required or not prohibited by the Loan Documents, for so long as any indebtedness remains outstanding under the Loan or the Lender has any obligation to extend credit under the Loan Documents, no Officer shall be entitled to any fee, salary or other compensation. So long as any Person is an Officer of the LLC, he or she shall devote such time, attention and energies as may be necessary in his or her judgment to perform his or her duties hereunder. To the extent appointed by the Managing Member, the Officers shall be as follows:
Officers of the LLC. Unless the Member decides otherwise, the ------------------- officers of the Member from time to time shall have the authority to act on behalf of the Member in managing and conducting the business of the LLC as provided for in this Section 7. Unless the Member decides otherwise, if an official title is one commonly used for officers of a business corporation formed under the Delaware General Corporation Law, the assignment or incumbency of such title to a person who serves as such officer of the Member shall constitute assignment of the same title, and delegation of the authorities and duties normally associated with that office, to such person as such officer of the LLC.
Officers of the LLC. The Management Committee may designate employees of the LLC as officers of the LLC (the “Officers”) as it deems necessary or desirable to carry on the business of the LLC. The Management Committee may delegate any of its power or authority to an Officer or Officers subject to modification and withdrawal of such delegated power and authority by the Management Committee. Any two or more offices may be held by the same person. New offices may be created and filled by the Management Committee. Each Officer shall hold office until his or her successor is designated by the Management Committee or until his or her earlier death, resignation or removal. Any Officer may resign at any time upon written notice to the Management Committee and the Manager Member. Any Officer designated by the Management Committee may be removed from his or her office (with or without a concurrent termination of employment) (i) with or without cause by the Management Committee (excluding for all purposes the Person whose removal is being considered) or (ii) For Cause by the Manager Member, in each case at any time. A vacancy in any office occurring because of death, resignation, removal or otherwise may be filled by the Management Committee. Any designation of Officers, a description of any duties delegated to such Officers, and any removal of such Officers by the Management Committee, shall be approved by the Management Committee in writing, which approval shall be delivered to the Manager Member. The Officers are not “managers” (within the meaning of the Act) of the LLC.
Officers of the LLC. The Management Board may designate employees of the LLC as officers of the LLC (the "Officers") as it deems necessary or desirable to carry on the business of the LLC. Any two or more offices may be held by the same Person. New offices may be created and filled by the Management Board. Each Officer shall hold office until his or her successor is designated by the Management Board or until his or her earlier death, resignation or removal. Any Officer may resign at any time upon written notice to the LLC and the Manager Member. Any Officer designated by the Management Board may be removed from his or her office (with or without a concurrent termination of employment) by the Management Board (excluding the Person being considered) or by the Manager Member For Cause or not For Cause at any time, subject to the terms of such Officer's Employment Agreement with the LLC, if any. A vacancy in any office occurring because of death, resignation, removal or otherwise may be filled by the Management Board. Any designation of Officers, a description of any duties 18 23 delegated to such Officers, and any removal of such Officers shall be approved by the Management Board in writing, which shall be delivered to the Manager Member. The Officers are not "managers" (within the meaning of the Act) of the LLC.
Officers of the LLC. In each case subject to the immediately following paragraph relating to the CEO, the Management Committee may designate employees of the LLC as officers of the LLC (the "Officers") as it deems necessary or desirable to carry on the business of the LLC. The Management Committee may delegate any of its power or authority to an Officer or Officers subject to modification and withdrawal of such delegated power and authority by the Management Committee. Any two or more offices may be held by the same
Officers of the LLC. (a) (i) The LLC shall have such officers as may be designated by the Board of Directors pursuant to Section 7.3(b)(i) from time to time, who shall act as agents of the LLC, who shall have such powers as are usually exercised by comparably designated officers of a Delaware corporation and who shall have the power to bind the LLC through the exercise of such powers, to the extent consistent with the terms hereof. The officers designated and/or confirmed as provided in Section 7.3(b)(i) shall, unless and until removed from office), act as agents of the LLC.
Officers of the LLC. In each case subject to the immediately following paragraph relating to the CEO, the Management Committee may designate employees of the LLC as officers of the LLC (the "Officers") as it deems necessary or desirable to carry on the business of the LLC. The Management Committee may delegate any of its power or authority to an Officer or Officers subject to modification and withdrawal of such delegated power and authority by the Management Committee. Any two or more offices may be held by the same person. New offices may be created and filled by the Management Committee. Each Officer shall hold office until his or her successor is designated by the Management Committee or until his or her earlier death, resignation or removal. Any Officer may resign at any time upon written notice to the CEO (or, in the case of a resignation of the CEO, to the other members of the Management Committee) and the Manager Member. Any Officer designated by the Management Committee may be removed from his or her office (i) with or without cause by the Management Committee (excluding for all purposes the Person being considered), with the prior written consent of the Manager Member granted after the Effective Time in the case of a removal of the CEO from his or her position as CEO, or (ii) For Cause by the Manager Member (with prior or concurrent notice to the Management Committee specifying the reasons for the decision), in each case at any time, subject to any applicable terms of such Officer's Employment Agreement with the LLC, if any. Any removal of an Officer from his or her position as such shall not have any effect on the employment status of such Employee Stockholder with the LLC or any Controlled Affiliate thereof (except as expressly provided in the immediately following paragraph with respect to a removal of the CEO from his or her position as such). A vacancy in any office occurring because of death, resignation, removal or otherwise may be filled by the Management Committee. Any designation of Officers, a description of any duties delegated to such Officers, and any removal of such Officers by the Management Committee, shall be approved by the Management Committee in writing, which approval shall be delivered to the Manager Member. The Officers are not "managers" (within the meaning of the Act) of the LLC (except to the extent otherwise expressly provided in Section 11.17 hereof).
Officers of the LLC. The Managing Member may designate one or more individuals as officers of the LLC (collectively, the “Officers” and each, an “Officer”), who may but need not have titles, and, subject to Section 4.6, shall exercise and perform such powers and duties as shall be assigned to them from time to time by the Managing Member. Any Officer may be removed by the decision of the Member or the Managing Member at any time, with or without cause. Each Officer shall hold office until his or her successor is elected and qualified. Any number of offices may be held by the same individual. Except as otherwise Amended and Restated Limited Liability Company Agreement Tarantula Ventures LLC 12 of 22 346626 v2/RE required or not prohibited by any of the Loan Documents, for so long as any indebtedness remains outstanding under the Loan, no Officer shall be entitled to any fee, salary or other compensation. So long as any Person is an Officer of the LLC, he or she shall devote such time, attention and energies as may be necessary in his or her judgment to perform his or her duties hereunder. To the extent appointed by the Managing Member, the Officers shall be as follows:
Officers of the LLC. The LLC shall have a Chairman, a Chief Executive Officer and a President (together the “LLC Officers”). The Chairman shall be the Manager. The initial Chief Executive Officer shall be Bxxxx. The initial President shall be Sxxxx. None of these LLC Officers may be removed as officers or have their duties reduced or modified without their express written consent, unless such LLC Officer is deceased or legally declared incompetent; provided, however, if an LLC Officer has his employment terminated or resigns for Good Reason as defined in his Employment Agreement, he shall cease to an LLC Officer.
