Common use of Absent Managers Clause in Contracts

Absent Managers. A Manager may give advance written consent or opposition to a proposal to be acted on at a meeting of the Board of Managers. If such Manager is not present at the meeting, such consent or opposition to a proposal does not constitute presence for purposes of determining the existence of a quorum, but such consent or opposition shall be counted as a vote in favor of or against the proposal and shall be entered in the minutes or other record of action at the meeting, if the proposal acted on at the meeting is substantially the same or has substantially the same effect as the proposal to which the Manager has consented or objected.

Appears in 4 contracts

Samples: Exclusive License Agreement (Texas Rare Earth Resources Corp.), Limited Liability Company Agreement (Lorus Therapeutics Inc), Limited Liability Company Agreement (Lorus Therapeutics Inc)

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Absent Managers. A Manager member of the Board of Managers may give advance written consent or opposition to a proposal to be acted on at a meeting of the Board of Managers. If such Manager member is not present at the meeting, such consent or opposition to a proposal does not constitute presence for purposes of determining the existence of a quorum, but such consent or opposition shall be counted as a vote in favor of or against the proposal and shall be entered in the minutes or other record of action at the meeting, if the proposal acted on at the meeting is substantially the same or has substantially the same effect as the proposal to which the Manager member has consented or objected.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Mosaic Crop Nutrition, LLC), Limited Liability Company Agreement (Mosaic Crop Nutrition, LLC)

Absent Managers. A Manager of the Company may give advance written consent or opposition to a proposal to be acted on upon at a meeting of the Board of Managersmeeting. If such the Manager is not present at the meeting, such consent or opposition to a proposal does not constitute presence at the meeting for purposes of determining the existence of a quorum, but such consent or opposition shall be counted as a vote in favor of or against the proposal and shall be entered in the minutes or other record of action at the meeting, if the proposal acted on at the meeting is substantially the same or has substantially the same effect as the proposal to which the Manager has consented or objected.

Appears in 1 contract

Samples: Confidential Treatment (American Crystal Sugar Co /Mn/)

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Absent Managers. A Manager may give advance written consent or opposition to a proposal to be acted on at a meeting of the Board of Managers’ meeting. If such the Manager is not present at the meeting, such consent or opposition to a proposal does not constitute presence for purposes of determining the existence of a quorum, but such consent or opposition shall be counted as a vote in favor of or against the proposal and shall be entered in the minutes or other record of action at the meeting, if the proposal acted on at the meeting is substantially the same or has substantially the same effect as the proposal to which the Manager has consented or objected.

Appears in 1 contract

Samples: Limited Liability Company Agreement (AWA Group LP)

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