Common use of Committees of Managers Clause in Contracts

Committees of Managers. (a) The Managers may, by resolution passed by a majority of the Managers (excluding the Independent Manager), designate one or more committees, each committee to consist of one or more of the Managers (excluding the Independent Manager). The Managers may designate one or more Managers (excluding the Independent Manager) as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. (b) 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 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. (i) 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. Such committee or 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.

Committees of Managers. (a) The Managers may, by resolution passed by a majority of the Managers (excluding the Independent Manager)Managers, designate one or more committees, each committee to consist of one or more of the Managers (excluding the each Independent Manager). The Managers may designate one or more Managers (excluding the each Independent Manager) as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. (b) 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 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. (i) 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. Such committee or 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.

Committees of Managers. (ai) The Board of Managers may, by resolution passed by a majority of the Managers (excluding the Independent Manager)whole Board of Managers, designate one or more committees, each committee to consist of one or more of the Managers (excluding of the Independent Manager)Company. The Board of Managers may designate one or more Managers (excluding the Independent Manager) as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. (bii) 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 such members constitute a quorum, may unanimously appoint another Manager member of the Board of Managers to act at the meeting in the place of any such absent or disqualified member. (iiii) Any such committee, to the extent provided in the resolution of the Board of Managers, shall have and may exercise all the powers and authority of the Board of Managers in the management of the business and affairs of the Company. Such committee or committees shall have such name or names as may be determined from time to time by resolution adopted by the Board of Managers. Each committee shall keep regular minutes of its meetings and report the same to the Board of Managers when required.

Committees of Managers. (ai) The Board of Managers may, by resolution passed by a majority of the Managers (excluding the Independent Manager)Managers, designate one or more committees, each committee to consist of one or more of the Managers (excluding of the Independent Manager)Partnership. The Board of Managers may designate one or more Managers (excluding the Independent Manager) as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. (bii) 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 such members constitute a quorum, may unanimously appoint another Manager member of the Board of Managers to act at the meeting in the place of any such absent or disqualified member. (iiii) Any such committee, to the extent provided in the resolution of the Board of Managers, shall have and may exercise all the powers and authority of the Board of Managers in the management of the business and affairs of the CompanyPartnership. Such committee or committees shall have such name or names as may be determined from time to time by resolution adopted by the Board of Managers. Each committee shall keep regular minutes of its meetings and report the same to the Board of Managers when required.