Composition of the Board of Managers. Each Member shall vote, or cause to be voted, all Units over which such Member has the power to vote or direct the voting, and shall take all other necessary or desirable actions within such Member’s control (including attendance at meetings in person or by proxy for purposes of obtaining a quorum and execution of written consents in lieu of meetings) so that the following Persons, and only the following Persons, shall be elected to the Board of Managers:
Composition of the Board of Managers. (i) The number of Managers shall initially be four, subject to automatic increase, as set forth herein, in the event either the Darling Member or the Valero Member is entitled to designate an aggregate of three or four Managers pursuant to Section 5.2(b). The Managers shall be elected at the annual meeting called pursuant to Section 5.6(a) or at any special meeting called pursuant to Section 5.6(b) for the purpose of electing Managers. Each Darling Manager and each Valero Manager shall be entitled to cast one vote with respect to each matter brought before the Board of Managers (or any committee thereof) for approval. Each Manager elected shall hold office until a successor is duly elected and qualified or until his or her earlier death, resignation, or removal as provided in this Agreement.
Composition of the Board of Managers. The permanent Board of Managers of the Company shall consist of five (5) individuals, who shall serve for the terms specified in Section 5.7. The Board of Managers shall include:such number of individuals and with such qualifications, and may include voting and non-voting Managers, as may be determined from time to time by resolution adopted by the Board of Trustees of the University of Illinois, as sole Member of the Company. Managers shall be appointed, and may be removed at any time, by resolution adopted by the Board of Trustees of the University of Illinois.
Composition of the Board of Managers. The Board of Managers shall initially be comprised of three Managers, who shall be Xxxx X. Xxxxx, Xxxx X.
Composition of the Board of Managers. (a) The Board of Managers shall consist of one or more members. The number of Managers shall initially be five (5) and, subject to Section 3.05, may be increased or decreased by the Board of Managers with the affirmative vote or written consent of the Requisite Preferred Holders.
Composition of the Board of Managers. The Board of Managers shall initially consist of one (1) Manager. The initial Manager shall be Codelaw, LLC and/or its appointee(s). The number of Managers may be expanded or reduced from time to time by vote of Members holding at least two-thirds of the issued and outstanding Units, and any new Manager position so established shall be filled by vote of Members holding at least two-thirds of the issued and outstanding Units.
Composition of the Board of Managers. The Board of Managers of the Company shall consist of such number of individuals and with such qualifications, and may include voting and non-voting Managers, as may be determined from time to time by resolution adopted by the Board of Trustees of the University of Illinois, as sole Member of the Company. Managers shall be appointed, and may be removed at any time, by resolution adopted by the Board of Trustees of the University of Illinois. The Board of Managers shall consist of at least nine (9) individuals as voting Managers, who shall serve for the terms specified in Section 5.7. The nine individuals will be recommended by the Principal Officer to the Chancellor for submission to the Board of Trustees for approval. The Board of Managers shall, to the extent reasonably feasible, include:
Composition of the Board of Managers. Initially, the Board of Managers shall be composed of the following persons, to serve until their respective successors are duly elected and qualified or until their earlier resignation or removal: BOARD OF MANAGERS Xxxxx X. Xxxxxxx, Xx. Xxxxx X. Xxxxxxxx Xxxxxxx X. Xxxxxxxxx Xxxxxxx X. Xxxxxxxx Xxxxx X. Xxxxx Xxxxxx X. Xxxx
Composition of the Board of Managers. The Board of Managers initially shall be composed of three Managers. At all times, there will be three Managers on the Board of Managers that have been appointed by the Members. Should any such Manager appointed by the Members cease to be on the Board of Managers for whatever reason, the Members shall appoint a replacement Manager so that there are a total of three Managers on the Board of Managers that have been appointed by the Members. Currently, the three Managers selected by the Members are Xxxxxx Xxxxxxxx, Xxxxx Xxxxx and Xxxx Xxxxx. The size of the Board of Managers can be changed at any time as determined by the Board of Managers; provided that at all times there shall be no less than three Managers and no more than nine Managers.
Composition of the Board of Managers. From and after the date hereof, the Board of Managers of the Company (the “Board”) will consist of three (3) managers (individually, a “Manager” and, collectively, the “Managers”), each of which will be appointed by FIT-ALT Investor (or a transferee of its Class A Membership Interest). Any Manager may be removed at any time, with or without cause, by the Class A Member and may not otherwise be removed by the Board or the Members. In the event that a vacancy shall exist or occur on the Board at any time by reason of a Manager’s death, disability, retirement, resignation, removal or otherwise, the Class A Member shall have the right to designate a new Manager to fill such vacancy. Each Manager shall hold office until his resignation or removal in accordance with the provisions hereof. Each Manager shall devote such time to the business and affairs of the Company as he deems necessary, in his sole discretion, for the performance of his duties, but in any event, shall not be required to devote full time to the performance of such duties and may delegate his duties and responsibilities as provided in this Agreement. Except as the Board may otherwise unanimously agree, no committee of the Board shall be formed unless such committee consists of (and solely of) all of the Managers.
