Common use of Committees of Managers Clause in Contracts

Committees of Managers. The Managers may, by resolution passed by a majority of all Managers, designate one or more Committees, each Committee to consist of one or more of the Managers of the Company. The Managers may designate one or more Managers as alternate members of any Committee, who may replace any absent or disqualified member at any meeting of the Committee. In the absence or disqualification of a member of a Committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not he or they constitute a quorum, may unanimously appoint another Manager to act at the meeting in the place of any such absent or disqualified member. Any such Committee, to the extent provided in the resolution of the Managers, shall have and may exercise all the powers and authority of the Managers in the management of the business and affairs of the Company that the Managers may legally delegate. Such Committee or Committees shall have such name or names as may be determined from time to time by resolution adopted by the Managers.

Committees of Managers. The Managers may, by resolution passed by a majority of all the Managers, designate one or more Committeescommittees, each Committee committee to consist of one or more of the Managers of the CompanyManagers. The Managers may designate one or more Managers as alternate members of any Committeecommittee, who may replace any absent or disqualified member at any meeting of the Committee. In xxxxxxxxx.Xx the absence or disqualification of a member of a Committeecommittee, the member or members thereof present at any meeting and not disqualified from voting, whether or not he or they such members constitute a quorum, may unanimously appoint another Manager to act at the meeting in the place of any such absent or disqualified member. .Any such Committeecommittee, to the extent provided in the resolution of the Managers, shall have and may exercise all the powers and authority of the Managers in the management of the business and affairs of the Company that the Managers may legally delegateCompany. Such Committee committee or Committees committees shall have such name or names as may be determined from time to time by resolution adopted by the Managers. Each committee shall keep regular minutes of its meetings and report the same to the Managers when required.