Management and Control of the Company. (a) (i) The Members have established the Company as a “managers- managed” limited liability company and have agreed to designate a board of managers (the “Board of Managers”) of three Persons to manage the Company and its business and affairs. Each of the Persons appointed to the Board of Managers is referred to herein as a “Manager.” The Managers shall be designated solely by a Majority in Interest of the Common Members. Any Manager may be removed, at any time, by a Majority in Interest of the Common Members, in their sole discretion.
Appears in 6 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company, Limited Liability Company Agreement
Management and Control of the Company. (a) (i) The Members have established the Company as a “managers- managers-managed” limited liability company and have agreed to designate a board of managers (the “Board of Managers”) of three Persons to manage the Company and its business and affairs. Each of the Persons appointed to the Board of Managers is referred to herein as a “Manager.” The Managers shall be designated solely by a Majority in Interest of the Common Members. Any Manager may be removed, at any time, by a Majority in Interest of the Common Members, in their sole discretion.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (American International Group Inc), Limited Liability Company Agreement (American International Group Inc)
