Committees of Managers. (i) Subject to Section 9(j), the Board may, by resolution passed by a majority of the whole Board (other than the Independent Managers), designate one or more committees, each committee to consist of one or more of the Managers of the Company. The Board 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.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (American Capital Strategies LTD), Limited Liability Company Operating Agreement (American Capital Strategies LTD), Limited Liability Company Operating Agreement (American Capital Strategies LTD)
Committees of Managers. (i) Subject to Section 9(j), the Board may, by resolution passed by a majority of the whole Board (other than the Independent Managers)Board, designate one or more committees, each committee to consist of one or more of the Managers of the Company. The Board 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.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (American Capital Strategies LTD), Limited Liability Company Operating Agreement (American Capital Strategies LTD)
