Independent Managers. The Cleco Power Board shall appoint as an Independent Manager each Person then serving as an “Independent Manager” (as defined in the Cleco Group Agreement) on the Cleco Group Board. The remuneration and other terms of appointment of any Independent Managers shall be Board Supermajority Consent Matters. Each Independent Manager shall serve for a term of one (1) year and until his or her successor is duly elected and qualified, unless he or she resigns, dies, or is removed before his or her term expires in accordance with the terms of Section 4.03.
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Samples: Operating Agreement (Cleco Power LLC), Operating Agreement
Independent Managers. The Cleco Power Holdings Board shall appoint as an Independent Manager each Person then serving as an “Independent Manager” (as defined in the Cleco Group Agreement) on the Cleco Group Board. The remuneration and other terms of appointment of any Independent Managers shall be Board Supermajority Consent Matters. Each Independent Manager shall serve for a term of one (1) year and until his or her successor is duly elected and qualified, unless he or she resigns, dies, or is removed before his or her term expires in accordance with the terms of Section 4.03.
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