Common use of Composition of the Independent Committee Clause in Contracts

Composition of the Independent Committee. Each Independent Committee Member shall hold office until his or her death, resignation or removal. Any Independent Committee Member may resign at any time upon written notice to the Manager. A resignation is effective when given unless such notice specifies a different date. Independent Committee Members need not be Shareholders of the Trust. Each Independent Committee Member shall meet the requirements of an “independent director” as set forth in Rule 5.3(b) of the Listing Standards and shall not be subject to a statutory disqualification under Sections 8a(2) or 8a(3)

Composition of the Independent Committee. Each Independent Committee Member shall hold office until his or her death, resignation or removal. Any Independent Committee Member may resign at any time upon written notice to the Manager. A resignation is effective when given unless such notice specifies a different date. Independent Committee Members need not be Shareholders of the Trust. Each Independent Committee Member shall meet the requirements of an “independent director” as set forth in Rule 5.3(b) Section 803 of the Listing Standards and shall not be subject to a statutory disqualification under Sections 8a(2) or 8a(3)

Composition of the Independent Committee. Each Pursuant to the Manager LLC Agreement, each Independent Committee Member shall hold office until his or her death, resignation or removal. Any Independent Committee Member may resign at any time upon written notice to the Manager. A resignation is effective when given unless such notice specifies a different date. Independent Committee Members need not be Shareholders of the Trust. Each Independent Committee Member shall meet the requirements of an “independent director” as set forth in Rule 5.3(b) Section 803 of the Listing Standards and shall not be subject to a statutory disqualification under Sections 8a(2) or 8a(3)