MEETINGS OR MANAGERS Clause Samples

MEETINGS OR MANAGERS. (a) All decisions to be made by the Managers shall be by vote of the Majority of the Managers. (b) All meetings of the Managers shall be held at the principal place of business of the Company or at such other place as shall be specified or fixed in the Notices or waivers thereof; provided that any or all Managers may participate in any such meeting by means of conference telephone or similar communications equipment pursuant to this Operating Agreement. (c) An annual meeting of the Managers for the transaction of such business as may properly come before the meeting, shall be held at such place, on such date and at such time as the Managers shall fix and set forth in the Notice of meeting. Regular meetings of the Managers shall be held at such times and places as shall be designated from time to time by the Majority of the Managers. Notice of such regular meetings shall not be required. (d) Special meetings of the Managers may be called at any time by any Manager on at least twenty-four (24) hours Notice (which shall include Notice by phone) to each other Manager. Such Notice need not state the purpose or purposes of, or the business to be transacted at, such meeting, except as may be otherwise provided for by the Act. (e) The Managers at their discretion may submit any act or contract for approval or ratification at any annual meeting of the Members, or at any special meeting of the Members called for that purpose and any act or contract that shall be approved or be ratified by the Majority of the Members shall be valid and binding on the Company.