Actions by the Board. (a) Unless provided otherwise in this Agreement, the Board shall act only: (i) by the affirmative vote of a majority of the Directors (which majority shall include any requisite number of Independent Directors required by the Company Act if the Company is registered as an “investment company” under the Company Act) present at a meeting duly called at which a quorum of the Directors shall be present (in person, which may include any means of communication that allows all Directors participating to hear each other simultaneously during the meeting); or (ii) by unanimous written consent of all of the Directors without a meeting (including, if permissible under the Company Act, at any time the Company is registered as an “investment company” under the Company Act).
Appears in 5 contracts
Samples: Limited Liability Company Operating Agreement (FEG Directional Access Fund LLC), Limited Liability Company Operating Agreement (Feg Absolute Access Fund LLC), Limited Liability Company Operating Agreement (FEG Directional Access Fund LLC)
