Managers. 5.1 Rules relating to the rights, duties and responsibilities of the Managers shall be governed by the Colorado Limited Liability Company Act codified in Colorado Revised Statues §7-80-100 et seq. as it may be amended from time to time. Such provisions are hereinafter incorporated into this Agreement by reference. Without limiting the generality of the foregoing, the Manager shall have the powers set forth in Paragraph 2 of Article 5.
Managers. The Member may, from time to time, designate one or more individuals to be managers of the Company. Managers so designated will have such authority and perform such duties as the Member may from time to time delegate to them. Any manager may resign as such at any time by providing written notice to the Company. Any manager may be removed as such, either with or without cause, by the Member, in its sole discretion. The managers of the Company, if and when designated by the Member, will have the authority, acting individually, to bind the Company.
Managers. (a) Subject to Sections 1.07 and 1.08, the business and affairs of the Company shall be managed by or under the direction of two or more Managers designated by the Member. Subject to the terms of this Agreement, the Member may determine at any time in its sole and absolute discretion the number of Managers. Subject in all cases to the terms of this Agreement, the authorized number of Managers may be increased or decreased by the Member at any time in its sole and absolute discretion, upon notice to all Managers; provided, that, except as provided in Section 7.06, at all times the Company shall have at least two Independent Managers. The initial number of Managers shall be five, two of which shall be Independent Managers. Each Manager designated by the Member shall hold office until a successor is elected and qualified or until such Manager’s earlier death, resignation, expulsion or removal. Each Manager shall execute and deliver the Management Agreement in the form attached hereto as Exhibit A. Managers need not be a Member. The initial Managers designated by the Member are listed on Schedule B hereto.
Managers. All decisions relating to the business, affairs, and properties of the Company shall be made by the managers. The managers may appoint a Chairman, a President, one or more Vice Presidents, a Secretary and such other officers of the Company as the managers may deem necessary or advisable to manage the day-to-day business affairs of the Company. The managers shall serve at the pleasure of the Member. The managers and officers shall have the authority to act on behalf of, bind, and execute and deliver documents in the name and on behalf of the Company. Such delegation of authority shall not cause the Member to cease to be a Member.
Managers. The Member and each Manager shall take all actions necessary from time to time to ensure that at all times the number of Managers shall be not less than three nor more than five; provided, however, that pursuant to Section 4.04, the Company shall at all times have at least one Independent Manager. The Managers upon the execution of this Agreement shall be those persons identified on Schedule C.
Managers. At any time, the Persons appointed in accordance with Section 6.1 to serve on the Board of Managers.
Managers. Subject to the provisions of the Act and any limitations in this Agreement as to action required to be authorized or approved by the Member, the business and affairs of the Company shall be managed and all its powers shall be exercised by or under the direction of a Board of Managers. Without prejudice to such general powers, but subject to the same limitations, it is hereby expressly declared that the Board of Managers shall have the following powers:
Managers. The Members shall be the initial Managers of the Company -------- hereunder. The names and addresses of the Managers shall be listed on Schedule -------- A which shall be amended from time to time by the Managers to reflect the resignation or removal of Managers or the appointment of new or additional Managers pursuant to this Agreement.