Class A Managers Clause Samples
The 'Class A Managers' clause defines a specific category of managers within an organization or investment structure, typically granting them certain rights, responsibilities, or privileges distinct from other classes of managers. In practice, this clause may outline the decision-making authority, compensation structure, or voting rights exclusive to Class A Managers, distinguishing them from Class B or other classes. Its core function is to clearly delineate the roles and powers of different managerial classes, thereby ensuring organizational clarity and preventing disputes over authority or benefits.
Class A Managers. The Selling Parties hereby agree to cooperate with Buyer if requested in connection with removing or procuring the resignation of the Class A Managers from all of their positions with the Company and its subsidiaries and appointing designees of Buyer as the Class A Managers, in each case effective as of the Closing Date.
Class A Managers. The Class A Members holding a majority of the Class A Units shall have the right at any time and from time to time to designate and elect up to five (5) Managers (the "CLASS A MANAGERS"); PROVIDED, that the Class A Members shall not have the right to designate more than two (2) Class A Managers until after the sooner to occur of the following: (i) a Control Release Event; or (ii) the written consent of the Class B Members holding a majority of the Class B Units; PROVIDED, FURTHER, that if one of the conditions set forth immediately above has been satisfied and the Class A Members desire to designate more than two (2) Class A Managers such additional Managers shall have significant experience in the Company's industry or related industries. Such designations and elections shall be effective upon the delivery of a writing executed by the Class A Members holding a majority of the Class A Units setting forth the names and brief biographies of such designees to the Board and to the Class B Members.
Class A Managers. Each Member shall use its reasonable efforts to ensure the existence of a quorum at any duly convened meeting of the Managing Board. Except as provided in Section 8.1, all actions taken by the Managing Board shall be effective upon the affirmative vote of a simple majority of the Managers present at a duly constituted meeting. The Class A Member shall cause each Class A Manager to grant a revocable proxy to each other Class A Manager to vote at any meeting of the Managing Board at which such Class A Manager is not present or is present but cannot vote with respect to such matter. The Class B Member shall cause each Class B Manager to grant a revocable proxy to each other Class B Manager to vote at any meeting of the Managing Board at which such Class B Manager is not present or is present but cannot vote with respect to such matter.
Class A Managers. The Class A Managers shall be elected by the Class A Members, including the election of a Manager to fill a vacancy (for any reason) in the Class A Managers. There shall be four (4) Class A Managers.