Common use of Member Representatives Clause in Contracts

Member Representatives. The Company shall have a management committee consisting of three representatives of each Member of the Company (the “Management Committee”). ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, III, ▇▇▇▇▇▇ ▇▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇▇ shall serve as ▇▇▇▇▇▇▇’▇ initial Member representatives on the Management Committee and ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇▇-▇▇▇▇ shall serve as MOF’s initial Member representatives on the Management Committee. Each Member representative shall coordinate Member communications with respect to the Company’s affairs. Each Member may designate a replacement Member representative on the Management Committee upon Notification to the other Member. The Management Committee shall use reasonable efforts to meet once every Fiscal Quarter (either in person or by telephone) to review the Company’s operations, and more frequently as needed to address matters on an interim basis. Management Committee meetings may be called by any Member representative with at least three (3) Business Days’ prior Notification. Any Member representative may appoint another individual to act for such representative at any Management Committee meeting by a proxy executed in writing and presented to the other Member representatives at or before such meeting. Member representatives shall not be managers of the Company under the Act. The presence of at least one representative of each Member shall be required for every Management Committee meeting. Any matter submitted for the approval of the Management Committee shall be deemed approved if at least one representative of each Member approves or consents in writing to the matter.