Common use of Composition; Initial Managers Clause in Contracts

Composition; Initial Managers. The Board shall initially consist of one (1) natural person who need not be a Member or resident of the State of Delaware (the “Manager”). The initial Board (and the initial Managers) shall consist of the persons listed on Schedule 9.2. Any successor or substituted Managers shall be elected as provided in Section 9.2(b). Subject to any limitations specified by law, the number of Managers may be increased or decreased by resolution adopted by a majority of the Managers then in office. No decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager. For such period that the Board consists of only one Manager, the actions and decisions of such Manager shall be deemed to be the actions and decisions of the Board without necessity of further action, meeting, approval or adoption of resolutions.

Composition; Initial Managers. The Board shall initially consist of one (1) natural person who need not be a Member or a resident of the State of Delaware (the “Manager”). The initial Board (and the initial ManagersManager) shall consist of the persons listed on Schedule 9.2. I. Any successor or substituted Managers shall be elected as provided in Section 9.2(b8.2(b). Subject to any limitations specified by law, the number of Managers may be increased or decreased by resolution adopted by a majority of the Managers then in office. No decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager. For such period that the Board consists of only one Manager, the actions and decisions of such Manager shall be deemed to be the actions and decisions of the Board without necessity of further action, meeting, approval or adoption of resolutions.

Composition; Initial Managers. The Board shall initially consist of one (1) natural person who need not be a Member or resident of the State of Delaware (the “Manager”). The initial Board (and the initial Managers) shall consist of the persons listed on Schedule 9.2. Exhibit B. Any successor or substituted Managers shall be elected as provided in Section 9.2(b). Subject to any limitations specified by law, the number of Managers may be increased or decreased by resolution adopted by a majority of the Managers then in office. No decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager. For such period that the Board consists of only one Manager, the actions and decisions of such Manager shall be deemed to be the actions and decisions of the Board without necessity of further action, meeting, approval or adoption of resolutions.