Common use of Advisory Managers Clause in Contracts

Advisory Managers. (a) The Board, by Approval of a Supermajority of the Board, may designate such number of natural Persons as they may from time to time determine as an “Advisory Manager”. Each Advisory Manager shall serve, subject to the pleasure of the Board, until the earlier of his resignation, the term set forth by the Board for such service or until the next succeeding annual meeting of the Board, following the annual meeting of the Members, at which such regular Managers are elected. Each Advisory Manager shall be notified of all regular or special meetings of the Board, shall be entitled to attend and participate therein, but shall not be entitled to vote. Each Advisory Manager shall be entitled to fees for serving as an Advisory Manager, as determined by Approval of a Supermajority of the Board. Each Advisory Manager shall also be reimbursed for any necessary expenses of attending Board meetings. The initial Advisory Managers shall be ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇▇, and they shall receive fees and Class C Units consistent with those received by them prior to the date hereof, or as otherwise determined by a Supermajority of the Board.