Number, Tenure and Qualifications. The number of managers of the Company shall be not less than one (1) nor more than ten (10), but may be increased by amendment of this LLC Agreement by the Members. Each manager shall hold office for the term of which he is elected or until his successor shall have been elected and qualifies for the office, whichever period is longer. Managers need not be residents of the state of formation nor need they be the holder of any Percentage Ownership of the Company.
Number, Tenure and Qualifications. The Board of Directors may appoint from among its members committees, composed of one or more directors, to serve at the pleasure of the Board of Directors.
Number, Tenure and Qualifications. The number of directors of the corporation shall be a minimum of one (l) and a maximum of nine (7), or such other number as may be provided in the Articles of Incorporation, or amendment thereof. Each director shall hold office until the next annual meeting of stockholders and until his successor shall have been elected and qualified.
Number, Tenure and Qualifications. The initial Manager shall be Xxxxxxx Xxxxx. The number of Managers shall be fixed from time to time by the Sole Member, but in no instance shall there be less than one Manager. Each Manager shall hold office until such Manager resigns or is removed by the Sole Member at the Sole Member’s discretion. A Manager need not be a resident of the State of Arizona or a member of the Company.
Number, Tenure and Qualifications. Except as otherwise provided in the certificate of incorporation, the number of directors of the corporation and the manner of electing such directors shall be as set forth from time to time in a resolution of the board of directors. Directors shall be elected at each annual meeting of stockholders. Each director shall hold office until his successor shall have been elected and qualified or until his earlier death, resignation or removal. Directors need not be residents of Delaware or stockholders of the corporation.
Number, Tenure and Qualifications. As provided by Section 6.1, the Initial Board shall be comprised of seven (7) Initial Directors and at all times from and after the closing of the Initial Public Offering the composition of the Board of Directors shall consist of at least a majority of Independent Directors. Subject to this Section 6.4, the number of directors shall be fixed from time to time exclusively pursuant to a resolution adopted by the Board of Directors, but shall consist of not less than five (5) nor more than thirteen (13) directors. However, no decrease in the number of directors constituting the Board of Directors shall shorten the term of any incumbent director. Subject to the next sentence, the Board of Directors shall be divided into three classes: Class I, Class II, Class III, with the holders of Trust Interests entitled to elect or appoint the Class I, II, and III directors. In addition, the Board of Directors shall include one (1) director (or, if there are nine (9) or more directors then serving on the Board of Directors, two (2) directors), who shall not be a member of any class (each, an “Appointed Director”), and who shall be elected or appointed by the Allocation Member. Classes I, II and III shall be divided as nearly equal in numbers as the then total number of directors constituting such classes permits, with the term of office of each class expiring in succeeding years, so that (except for the initial terms provided below) each such director shall be elected for a three year term. If the number of such directors is not evenly divisible by three, the greatest number of such directors shall be in Class III and the least number in Class I. The initial Class I directors shall hold office for a term expiring at the first annual meeting of the Members following closing of the Initial Public Offering, the initial Class II directors shall hold office for a term expiring at the second succeeding annual meeting of the Members following closing of the Initial Public Offering, and the initial Class III directors shall hold office for a term expiring at the third succeeding annual meeting of the Members following closing of the Initial Public Offering. The initial Class I directors are Xxxx X. Xxxxxxx and Xxxxxx X. Xxxxxxx. The initial Class II directors are Xxxxx X. Xxxxxxxxxxx and Xxx Xxxxxxx. The initial Class III directors are C. Xxxx Xxx and D. Xxxxxx Xxxxx. Any director filling any Class I, II or III vacancy pursuant to Section 6.8 shall hold office until the next elec...
Number, Tenure and Qualifications. The Company shall initially have one (1) Manager, being Xxxxxxx Rock (the “Initial Manager”). The Initial Manager shall serve as sole Manager until it dissolves, resigns pursuant to Section 5.07, or is removed for cause pursuant to Section 5.08. Notwithstanding any other provision of this Operating Agreement to the contrary, unless and until the Initial Manager shall have dissolved, resigned or been removed for cause, the Initial Manager shall not be removed or replaced as sole Manager, nor shall any other Manager be elected as Manager of the Company without the Initial Manager’s prior written consent. Subject to the foregoing, the number of Managers of the Company shall be fixed from time to time by the affirmative vote of Members holding at least a Majority Interest, but in no instance, shall there be less than one Manager. Subject to the foregoing, each Manager shall hold officeuntil his successor shall have been elected and qualified or until his earlier death, resignation or removal. Subject to the foregoing, a Manager shall be elected by the affirmative vote of Members holding at least a Majority Interest. Managers need not be residents of the State of Georgia or Members of the Company.
Number, Tenure and Qualifications. Subject to the rights of the holders of any series of Preferred Stock to elect directors under specified circumstances, the number of directors shall be fixed from time to time exclusively pursuant to a resolution adopted by a majority of the whole Board but shall consist of not more than thirteen nor less than three directors. The directors, other than those who may be elected by the holders of any series of Preferred Stock, shall be divided, with respect to the time for which they severally hold office, into three classes, as nearly equal in number as possible, with the term of office of the first class to expire at the 1996 annual meeting of stockholders, the term of office of the second class to expire at the 1997 annual meeting of stockholders and the term of office of the third class to expire at the 1998 annual meeting of stockholders. Each director shall hold office until his or her successor shall have been duly elected and qualified. At each annual meeting of stockholders, commencing with the 1996 annual meeting, (i) directors elected to succeed those directors whose terms then expire shall be elected for a term of office to expire at the third succeeding annual meeting of stockholders after their election, with each director to hold office until his or her successor shall have been duly elected and qualified, and (ii) if authorized by a resolution of the Board of Directors, directors may be elected to fill any vacancy on the Board of Directors, regardless of how such vacancy shall have been created.
Number, Tenure and Qualifications. The number of directors of the Corporation shall be fixed by the Board of Directors, but in no event shall be less than one (1). Each director shall hold office until the next annual meeting of shareholders. and until his/her successor shall have been elected and qualified.
Number, Tenure and Qualifications. The number of Managers of the Company and the length of the term of each Manager shall be fixed from time to time by the Members who hold a Majority In Interest. Each Manager shall hold office until removed pursuant to Section 12.12 hereof or until such Manager's successor shall have been selected. Managers need not be residents of the State of Colorado or Members of the Company.
