Action by the Managers. All actions taken on behalf of the Company by a Manager may be approved by the affirmative vote of a majority of the Managers. Regular meetings of the Managers may be held at such times and places as the Managers may determine. Special meetings of the Managers may be called by any Member or any two Managers acting together on not less than one business day’s prior written notice delivered to each of the Managers and specifying the nature of any business to be transacted at such special meeting. A Manager may waive notice of any meeting, whether before or after the date of such meeting and attendance by a Manager at a meeting shall constitute a waiver of notice by such Manager. A majority of the total number of Managers shall constitute a quorum for the transaction of business at any meeting of the Managers. Managers may participate in any meeting via teleconference or similar means of communications equipment by which all individuals participating in the meeting can hear one another and such participation shall constitute presence in person at the meeting. Any action required or permitted to be taken at any meeting of the Managers may be taken by a written consent without a meeting, without prior notice and without a vote. The written consent shall set forth the action to be taken and shall be signed by such Managers as are sufficient under the provisions of this Agreement to authorize or take such action at a meeting of the Managers.
Action by the Managers. For purposes of this Administration Agreement, reference to any action of the Managers mean the action of three or more Managers, unless otherwise indicated or unless the Issuer LLC Agreement requires that the Managers act unanimously, or otherwise, with respect to any particular action.
Action by the Managers. Each Manager shall have one vote. The affirmative vote of a majority of all of the Managers (regardless of the number of Managers in attendance at any meeting of the Managers) shall be the act of the Managers hereunder and for purposes of the Act. As used in this Agreement, the phrases “the approval of the Managers,” “the consent of the Managers,” “as determined by the Managers” and similar phrases mean the approval as set forth in the preceding sentence, except as expressly provided otherwise in this Agreement.
Action by the Managers. (a) Presence in person or by proxy of all the Managers shall constitute a quorum for the transaction of business of the Board. The presence in person or by proxy of all Managers of any committee of the Board shall constitute a quorum for the transaction of business of such committee.
