Common use of Member Managed Clause in Contracts

Member Managed. The management of the Company shall be vested in _____________, (“Manager) commencing on the date hereof. The Manager may, but need not, be a member of the Company.

Member Managed. The management of the Company shall be vested in _____________, (“Manager) commencing on the date hereof. The Manager may, but need not, be a member of the Company.