Interest of the Members. The Majority-In-Interest of the Members may authorize the payment to Board Members of a fixed sum and reimbursement of expenses for attendance, if any, at each regular or special meeting of the Board attended by such Board Members.
Interest of the Members. A Majority-In-Interest of the Members may elect new Managers, subject to Section 2 of this Article VII; provided, however, that there shall be no change of Managers without the prior confirmation from the rating agencies then rating the Asset-Backed Securities, if any, that such change will not result in either a downgrade or a withdrawal of any of the then current ratings of the outstanding Asset-Backed Securities, if any; and provided, further, however, that after any change of Managers pursuant to this section, at least two members of the Board of Managers shall be an Independent Manager.
Interest of the Members. Except to the extent expressly authorized pursuant to this Agreement, the Development Plan and Budget, or the Operating Plan and Budget, the Managers shall have no power or authority, on behalf of the Company, to undertake any of the following without the approval by the Majority Interest of the Members:
Interest of the Members. In an emergency, the decision shall be made by Manager, and the decision shall be binding on the members of the Management Committee, the Members and the Venture so long as such decision is consistent with the terms and conditions of this Agreement. No Member nor her or its representative on the Management Committee shall receive compensation from the Venture for his or its services as a member of the Management Committee.
Interest of the Members. Any Manager's position to be filled by reason of an increase in the number of Managers shall be filled by the affirmative vote of a majority of the Managers then in office or by the affirmative vote of a Majority-In-Interest of the Members. A Manager elected to fill a vacancy shall be elected for the unexpired term of his predecessor in office and shall hold office until the expiration of such term and until his successor shall be elected and shall qualify or until his earlier death, resignation or removal. A Manager chosen to fill a position resulting from an increase in the number of Managers shall hold office until the next annual meeting of Members and until his successor shall be elected and shall qualify, or until his earlier death, resignation or removal.
Interest of the Members. The Members may remove the Manager for Cause by vote of a Majority in Interest.
Interest of the Members. Any additional Members shall obtain Membership Interests and will participate in the management, Net Profits, Net Losses, and distributions of the Company on such terms as are determined by a Majority Interest of the Members. Notwithstanding the foregoing, Assignees may only be admitted as substitute Members in accordance with Article VII.
