Board Members. The Company shall have a board (the “Board of Directors”) which shall initially consist of three individuals (each a “Board Member”) and collectively, the “Board Members”) comprised of two Board Members chosen by BREA and one member chosen by the Common Investor. ESC and Columbia shall each have the right to appoint one board observer (a “Board Observer”) who shall receive notice of all meetings of the Board of Directors and shall be entitled to attend and participate in such meetings, but shall not be entitled to vote. The applicable Common Members may change the designation of the individual or individuals appointed by it to the Board of Directors (or as a Board Observer) at any time by written notice to the other Common Members. The names and addresses of the initial Board Members of the Company and the initial Board Observers are set forth on Schedule A attached hereto, and Schedule A shall be amended from time to time to reflect the resignation or removal of any Board Member or Board Observer or the appointment of new or additional Board Members or Board Observers pursuant to this Agreement.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Emeritus Corp\wa\), Limited Liability Company, Agreement of Purchase and Sale
