Establishment of the Board. The number of directors (the “Directors”) constituting the board of directors of the Company (the “Board”) shall be at least three and not more than twelve, unless otherwise fixed from time to time pursuant to action by the Sole Member. The Directors shall be elected or approved by the Sole Member. The Directors shall serve as Directors of the Company for their term of office established pursuant to Section 5.3.
Establishment of the Board. A board of managers of the Company (the “Board”) is hereby established and shall be comprised of natural Persons (each such Person, a “Manager”) who shall be appointed in accordance with the provisions of Section 6.2. The business and affairs of the Company shall be managed, operated and controlled by or under the direction of the Board, and the Board shall have, and is hereby granted, the full and complete power, authority and discretion for, on behalf of and in the name of the Company, to take such actions as it may in its sole discretion deem necessary or advisable to carry out any and all of the objectives and purposes of the Company, subject only to the terms of this Agreement.
Establishment of the Board. Outside of the authority granted to the Servicer hereunder and under the Servicing Agreement, the management and control of the Company shall be vested entirely in a board of managers of the Company (the “Board”) which shall act by Manager Approval. The Board is hereby established and shall be comprised of natural Persons (each such Person, a “Manager”) who shall be appointed in accordance with the provisions of Section 6.2. The business and affairs of the Company shall be managed, operated and controlled by or under the direction of the Board, and the Board shall have, and is hereby granted, the full and complete power, authority and discretion for, on behalf of and in the name of the Company, to take such actions as it may in its sole discretion deem necessary or advisable to carry out any and all of the objectives and purposes of the Company, subject only to the terms of this Agreement.
Establishment of the Board. There is hereby established the Joint Powers Board of the System. The Joint Powers Board shall serve as the governing board of the System and operate the System on behalf of the Parties.
Establishment of the Board. The board of directors of the Company (the “Board”) is hereby established and shall be composed of natural Persons (each such Person, a “Director”) who shall be elected or appointed in accordance with the provisions of this Section 5 and the Act. The business and affairs of the Company shall be managed, operated, and controlled by or under the direction of the Board, and the Board shall have, and is hereby granted, the full and complete power and authority for, on behalf of, and in the name of the Company to take such actions as it may deem necessary or advisable to carry out any and all of the purposes of the Company, subject only to the terms of this Agreement (including, but not limited to, the matters that must be approved by a vote of the Members entitled to vote thereon as set forth in Exhibit E) and the Act.
Establishment of the Board. A board of managers of the Company (the “Board”) is hereby established and shall be comprised of natural Persons (each such Person, a “Manager”) who shall be designated in accordance with the provisions of Section 7.04. The business and affairs of the Company shall be managed, operated, and controlled by or under the direction of the Board, and the Board shall have, and is hereby granted, the full, complete, and exclusive power, authority, and discretion for, on behalf of, and in the name of the Company, to take such actions as it may in its sole discretion deem necessary or advisable to carry out any and all of the objectives and purposes of the Company, subject only to the terms of this Agreement. No Manager, acting in such Manager’s capacity as such, shall have any authority to bind the Company with respect to any matter except pursuant to a resolution authorizing such action that is duly adopted by the Board by the affirmative vote required with respect to such matter pursuant to this Agreement. Except as expressly provided herein or by Applicable Law, no Member, in its capacity as a Member, shall have any power or authority over the business and affairs of the Company or any power or authority to act for or on behalf of, or to bind, the Company.
Establishment of the Board. The number of directors (the "Directors") constituting the Board shall be seven, unless otherwise fixed from time to time pursuant to a resolution adopted by the Sole Member. The Directors shall be elected or approved by the Sole Member and shall serve as Directors of the Company until their death or removal from office or until their successors are elected and qualified. As at the date of this Agreement, the Directors of the Company are Xxxxxxx X. Xxxxxxx and Xxxxx Xxxxxxxxxx. The Sole Member intends to appoint Xxxxxxx X. Xxxxxxx, XX, Xxxxx X. Xxxxxxxxx and Xxxxxxx X. Xxxxxxx as Directors following the Closing Date. In addition, the Sole Member intends to appoint two additional Directors within 1 year of the date of this Agreement.
Establishment of the Board. Subject to the provisions of this Agreement and/or the Act relating to actions required to be approved by the Stockholders, the business, property and affairs of the Company shall be managed by, and all powers of the Company shall be exclusively exercised by or under the direction of, a Board of Directors (the “Board”) comprised of natural person (each, a “Director”). Each Director shall be deemed to be a “director” within the meaning of the Act. The Board shall act collectively by majority vote in all matters, unless otherwise expressly required by the Act or this Agreement. The Board shall have the power to do any and all acts necessary or convenient to or for the furtherance of the purposes described herein, including all powers, statutory or otherwise, possessed by directors under the laws of the State of New Jersey. Without limiting the foregoing, each Director shall have the ability and the authority to execute and deliver contracts instruments binding upon the Company, and the Board may delegate such authority to officers of the Company, but, in each case, solely to the extent such Director or such officers are authorized and directed by the Board including the Investor Director to do so or are otherwise authorized pursuant to the terms of this Agreement.
Establishment of the Board. (a) The number of directors (the “Directors”) constituting the board of directors of the Company (the “Board”) shall be at least three and not more than twelve, unless otherwise fixed from time to time pursuant to action by the Sole Member.
(b) The Directors shall be elected or appointed by the Sole Member. The Directors shall serve as Directors of the Company for their term of office established pursuant to Section 5.3. As of the date hereof, the Directors are as set forth on Schedule I hereto. The Directors designated as Continuing Independent on Schedule I hereto are Independent Directors mutually agreed by each of Devon Energy Corporation and Crosstex Energy, Inc. on or prior to the date hereof. During the period commencing with the date hereof and ending on the third anniversary hereof, the Sole Member shall not appoint any replacement for any Continuing Independent without the approval of a majority of the remaining Continuing Independents and the Chief Executive Officer.
Establishment of the Board. A board of managers of the Company (the “Board”) is hereby established and shall be comprised of natural Persons (each, a “Manager”) who shall be appointed in accordance with the provisions of Section 7.02. No Manager need be a Member. Except as otherwise specifically set forth in this Agreement, each member of the Board shall be deemed to be a “manager” for purposes of applying the Delaware LLC Act. Except as expressly provided in this Agreement or the Delaware LLC Act, none of the Members shall have management authority or rights over the Company or its Subsidiaries. The Board and the Officers of the Company are, to the extent of their respective rights and powers set forth in this Agreement, agents of the Company for the purpose of the Company’s and its Subsidiaries’ business, and the actions of the Board and the Officers of the Company, taken in accordance with such rights and powers shall bind the Company (and none of the Members shall have such right). The Board shall be responsible for the oversight of the Company’s operations and overall performance and strategy, while the management of the day-to-day operations of the business of the Company and the execution of business strategy shall be the responsibility of the Officers and employees of the Company and the officers and employees of its Subsidiaries. Except as expressly provided in this Agreement, the Board shall have all necessary powers to carry out the purposes, business and objectives of the Company and its Subsidiaries. The Board may delegate to Members, employees, Officers or agents of the Company or any Subsidiary in its discretion the authority to sign agreements and other documents on behalf of the Company or any Subsidiary.
