Common use of Meetings of the Board of Directors Clause in Contracts

Meetings of the Board of Directors. (a) Meetings of the Board of Directors shall be held at such time and at such places as they shall determine. No meeting of the Board of Directors shall be held without a quorum being present, which shall consist of a majority of the managers. Directors may participate in a meeting of the Board of Directors by means of conference telephone or other similar communication equipment whereby all managers participating in the meeting can hear each other. Participation in a meeting in this manner shall constitute presence in person at the meeting. Action of the Board of Directors shall require the favorable vote of a majority of all managers.