Number, Election and Tenure. The number of managers shall be fixed from time to time by the Member or by the Board of Managers pursuant to a resolution adopted by a majority of the Whole Board. The managers shall be elected annually by the Member, and each manager elected shall hold office until his or her successor is elected and qualified or his or her earlier death, resignation or removal. For purposes of this Agreement, the term “Whole Board” shall mean the total number of authorized managers, whether or not there exist any vacancies.
Appears in 9 contracts
Samples: Limited Liability Company Operating Agreement (Physician Sales & Service, Inc.), Limited Liability Company Operating Agreement (Physician Sales & Service, Inc.), Limited Liability Company Operating Agreement (Physician Sales & Service, Inc.)
