Common use of Management Committee Clause in Contracts

Management Committee. (a) The affairs of the Company shall be managed by a management committee (the “Management Committee”) composed of one or more managers, who accept appointment by the Members as provided herein (individually referred to as “Manager” and collectively referred to as “Manager” or “Managers”). The number of Managers shall be fixed from time to time by the Members. The Members shall have the right to add or remove and replace the Managers at any time and for any reason. Any vacancy in any Manager position may be filled by the Members or by the Management Committee; and any Manager so chosen shall hold office until (i) removed with or without cause by the Members, (ii) such Manager’s successor shall be duly elected and appointed by the Members or (iii) such Manager’s death, disability or resignation. The initial Management Committee shall be composed of one Manager. The initial Managers of the Company (the “Original Managers”) shall be identified on Exhibit A.

Management Committee. (a) The affairs of the Company shall be managed by a management committee (the “Management Committee”) composed of one or more managers, who accept appointment by the Members as provided herein (individually referred to as “Manager” and collectively referred to as “Manager” or “Managers”). The number of Managers shall be fixed from time to time by the Members. The Members shall have the right to add or remove and replace the Managers at any time and for any reason. Any vacancy in any Manager position may be filled by the Members or by the Management CommitteeCommittee as set forth in Section 5.1(a)(ii); and any Manager so chosen shall hold office until (i) removed with or without cause by the Members, (ii) such Manager’s successor shall be duly elected and appointed by the Members or (iii) such Manager’s death, disability or resignation. The initial Management Committee initially shall be composed of one Managerthree (3) individuals, who shall be designated as provided in Section 5.1(a)(i). The Members may change the Members of Management at any time. The initial Managers of the Company (the “Original Managers”) shall be identified on Exhibit A.