Common use of Actions Without a Meeting and Telephone Meetings Clause in Contracts

Actions Without a Meeting and Telephone Meetings. Notwithstanding any provision contained in this Article 5, all actions of the Board provided for herein may be taken by written consent without a meeting, or any meeting thereof may be held by means of a conference telephone. Any such action that may be taken by the Board without a meeting shall be effective only if the consent or consents are in writing, set forth the action so taken, and are signed by the requisite number of Managers required to approve such action at a meeting of the Board at which all Managers are present.

Actions Without a Meeting and Telephone Meetings. Notwithstanding any provision contained in this Article 5, all actions of the Board provided for herein may be taken by written consent without a meeting, or any meeting thereof may be held by means of a conference telephone. Any such action that may be taken by the Board without a meeting shall be effective only if the consent or consents are in writing, set forth the action so taken, and are signed by the requisite number of Managers required to approve such action at a meeting of the Board at which all Managers are presentManagers.