Number and Qualification. There shall be seven Directors, four of which shall be Management Directors and three of which shall be Non-Management Directors. The Management Directors may change the number of Management Directors and Non-Management Directors from time to time by written consent of the Management Directors. Directors need not be residents of the State of Delaware. The Member shall elect the Management Directors and the Non-Management Directors.
Appears in 21 contracts
Samples: Limited Liability Company Agreement (United States Short Oil Fund, LP), Limited Liability Company Agreement (United States 12 Month Oil Fund, LP), Limited Liability Company Agreement (United States Oil Fund, LP)
Number and Qualification. There Thee shall be seven Directors, four of which shall be Management Directors and three thee of which shall be Non-Management Directors. The Management Directors may change the number of Management Directors and Non-Management Directors from time to time by written consent of the Management Directors. Directors need not be residents of the State of Delaware. The Member shall elect the Management Directors and the Non-Management Directors.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (United States Heating Oil Fund, LP), Limited Liability Company Agreement (United States Brent Oil Fund, LP), Limited Liability Company Agreement (United States Oil Fund, LP)
Number and Qualification. There shall be seven Directors, four of which shall be Management Directors and three of which shall be Non-Management Directors. The Management Directors may change the number of Management Directors and Non-Non- Management Directors from time to time by written consent of the Management Directors. Directors need not be residents of the State of Delaware. The Member shall elect the Management Directors and the Non-Management Directors.
Appears in 1 contract
Samples: Limited Liability Company Agreement (United States Commodity Index Funds Trust)
