Common use of Management/Managers Clause in Contracts

Management/Managers. (a) The number of Managers of the Company as of the date of this Agreement shall be one. The Member hereby appoints Xxxxxxx X. Xxxxxxx as the initial Manager of the Company who, by his execution hereof, accepts such appointment. The powers of the Company shall be exercised by or under the authority of, and the business and affairs of the Company shall be managed under the direction of, the Manager, who shall make all decisions and take all actions for the Company, except where action by the Member is required by the Act or this Agreement. The Manager shall remain as such until his successor shall be duly designated and shall qualify or until his death or until he shall resign or shall have been removed in the manner hereinafter provided.