Common use of Designation, Powers and Name Clause in Contracts

Designation, Powers and Name. The Managers may, by resolution passed by a Majority-in-Interest of the Members, designate one or more committees, including, if they shall so determine, an Executive Committee, each such committee to consist of one or more of the Managers of the Company. The committee shall have and may exercise such of the powers of the Managers in the management of the business and affairs of the Company as may be provided in such resolution. 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 such committee. In the absence or disqualification of any member of such committee or committees, 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 Manager. Such committee or committees shall have such name or names and such limitations of authority as may be determined from time to time by resolution adopted by the Managers.