Board Composition; Vacancies. 8.2.1 The Company and the Members shall take such actions as may be required to ensure that the number of Managers constituting the Board is at all times four (4). The Board shall be comprised as follows:
Board Composition; Vacancies. (a) Subject to Section 8.11 and Section 8.17, the size of the Board shall be set at twelve (12) Directors unless otherwise determined by the Board by Supermajority Board Vote, but in no event shall the Board be less than five (5) Directors. If the number of Directors is reduced to five (5) the Members will work in good faith to identify and elect an additional director(s).
Board Composition; Vacancies. (a) The Company and the Members shall take such actions as may be required to ensure that the number of Managers constituting the Board is at all times four (4). The Board shall be comprised as follows (i) two (2) individuals designated by Solar, who shall initially be Xxxxxxx X. Xxxxx and Xxxxx Xxxxxxx, and (ii) two (2) individuals designated by West, who shall initially be Xxxxx Xxxxxxx and Xxxxxx XxXxxx.
Board Composition; Vacancies. (a) The Company and the Members shall take such actions as may be required to ensure that the number of Managers constituting the Board is at all times three (3). The Board shall be comprised of the following Managers: (i) two (2) individuals designated by Solar, who shall initially be Xxxxxxx X. Xxxxx and Xxxxx Xxxxxxx, and (ii) one (1) individual designated by Deerfield, who shall initially be Xxxxx Xxxx. A Member may, by written notice to the other Members, appoint an alternate or proxy Board designee to take action in place of any current designee who may be temporarily unavailable at the time such action is required.
Board Composition; Vacancies. The Company and the Members shall take such actions as may be required to ensure that the number of Directors constituting the Board is at all times six (6), unless otherwise agreed pursuant to Section 7.06(a) or unless otherwise provided herein. So long as each Party’s Percentage Interest is at least forty percent (40%), the Board shall always have an equal number of Loop Directors and IVH Directors. The Board shall always be comprised solely of Loop Directors and IVH Directors. The Board shall initially be comprised as follows:
Board Composition; Vacancies. (a) The Company and the Members shall take such actions as may be required to ensure that the Board at all times consists of three (3) Managers. Xxxxxx X. Xxxxxxx, Xxxxxxx Xxxxxxx, and Xxxx Xxxxxx are designated as the initial Managers to serve for initial terms of one year, two years and three years, respectively. Following such initial terms, the Managers shall be elected by the Voting Members to three-year staggered terms in accordance with this Section 8.02. At all times, at least two Managers must be persons who are not Members or Affiliates of any of the Members (the “Independent Managers”).
Board Composition; Vacancies. (a) The number of Managers constituting the Board shall be fixed by the Voting Member from time to time, but shall not be less than five nor more than twelve members. Any vacancies in the Board that occur for any reason, including vacancies that occur by reason of an increase in the number of Managers, may be filled only by the Voting Member.
Board Composition; Vacancies. (a) The Board shall initially consist of one (1)
Board Composition; Vacancies. (a) So long as the Preferred Member (together with its Affiliates) holds at least 25% of the Units held by the Preferred Member on the date of this Agreement (calculated on a deemed as-converted basis with the Preferred Units deemed to be converted to the appropriate number of Common Units in accordance with Section 9.04(e) for purposes of such calculation), the Company and the Common Members shall take such actions as may be required to ensure that the number of Managers constituting the Board is at all times five. The Board shall be comprised as follows:
Board Composition; Vacancies. (a) The Company and the Members shall take such actions as may be required to ensure that the Board at all times consists of at least three Managers. The Managers shall be elected by the Voting Members to staggered terms of three years each, as set forth in the resolutions of the Voting Members upon such elections. The Board or Members holding at least a majority of the votes eligible to be cast by the then-outstanding Voting Units may increase or decrease the number of Managers from time to time, provided that no such decrease would terminate or shorten the term of office of any Manager then in office. At all times, a majority of the Managers must be persons who qualify as an “independent director” under NYSE Listed Company Manual Section 303A.02 (the “Independent Managers”).
