Number and Qualifications. The number of Managers of the Company shall not be less than three nor more than five, as may be determined by the Member from time to time, but no decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager.
Appears in 20 contracts
Samples: Limited Liability Company Agreement (CenterPoint Energy Transition Bond Co IV, LLC), Limited Liability Company Agreement (CenterPoint Energy Transition Bond Co IV, LLC), Limited Liability Company Agreement (CenterPoint Energy Transition Bond CO III, LLC)
Number and Qualifications. The number of Managers of the Company shall not be less than three nor more than five, as may be determined by the Member from time to timetime but shall not be less than five, but and no decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager. The Member hereby determines the initial number of Managers to be five.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (MP Environmental Funding LLC), Limited Liability Company Agreement (MP Environmental Funding LLC), Limited Liability Company Agreement (JCP&L Transition Funding II LLC)
Number and Qualifications. The number of Managers of the Company shall not be less than three nor more than five, as may be determined by the Member from time to time, but no decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Jcp&l Transition Funding LLC), Limited Liability Company Agreement (Jcp&l Transition Funding LLC)
Number and Qualifications. The number of Managers of the Company shall not be less than three nor more than fiveat least one (1), as may be determined subject to modification by the Member from time Board of Managers in accordance to timethis Agreement, but no decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (TCEH Finance, Inc.), Limited Liability Company Agreement (Txu Energy Co LLC)
Number and Qualifications. The number of Managers of the ------------------------- Company shall not be less than three nor more than five, as may be determined by the Member from time to time, but no decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager.
Appears in 1 contract
Samples: Limited Liability (Reliant Energy Transition Bond Co LLC)
Number and Qualifications. The number of Managers of the Company shall not be less than three nor more than five, as may be determined by the Member from time to timetime but shall not be less than five, but and no decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager.. The Member hereby determines the initial number of Managers to be five. SECTION 3.04
Appears in 1 contract
Samples: Limited Liability Agreement
