A Managers definition
Examples of A Managers in a sentence
A Manager's standard of conduct owed to the Company and other Members is to act in the highest good faith to the Members, and a Manager may not seek to obtain an advantage in the Company affairs by the slightest misconduct, misrepresentation, concealment, threat, or adverse pressure of any kind.
A Manager's attendance at any meeting in person or by proxy (a) waives objection to lack of notice or defective notice of the meeting unless the Manager at the beginning of the meeting objects to holding the meeting or transacting business at the meeting, and (b) waives objection to consideration of a particular matter at the meeting that is not within the purposes described in the meeting notice unless the Manager objects to considering the matter when it is presented.
Unless otherwise provided by Law or this Agreement, the presence of Managers constituting a majority of the voting authority of the whole Board of Managers shall be necessary to constitute a quorum for the transaction of business; provided that the presence of at least a majority of the Class A Managers and at least a majority of the Class B Managers shall be required for a quorum to exist.
A Manager's attendance at a meeting waives objection to lack of notice or defective notice of the meeting, unless the Manager at the beginning of the meeting objects to holding the meeting or transacting business at the meeting.
A Managers or its Affiliates shall not sell a Loan to the Company pursuant to clause (i) of this Section 11.14 if the cost of the Loan exceeds the funds reasonably anticipated to be available to the Company to purchase the Loan.
One of the Class A Managers serving on the Compensation Committee initially shall be the Chairman of the Compensation Committee.
A Manager's duty of care is limited to refraining from engaging in grossly negligent or reckless conduct, intentional misconduct or a knowing violation of law in the conduct of and winding up of the Company's business.
A Manager's chosen to fill a position resulting from an increase in the number of Managers shall hold office until the next annual meeting of Members and until a successor has been elected and qualified.
However, if the Management Committee (including all of the Class A Managers but excluding the Chief Executive Officer) commences deliberations to consider removing the Chief Executive Officer from such position, the Chief Executive Officer will immediately cease to be a Manager.
A Manager(s) may be removed at any time as determined by a Majority Vote.