Common use of Number, Election and Term of Office; Chairman Clause in Contracts

Number, Election and Term of Office; Chairman. The Board shall consist of no less than three (3) and no more than fifteen (15) Managers, as determined by the Member from time to time. The Managers shall be appointed by the Member. Each Manager (except in the case of death, resignation, retirement, disqualification or removal) shall serve for a period of one (1) year or until his or her successor shall have been duly appointed and qualified. The Member or the Board shall appoint from among the Managers a chairman (the “Chairman”). The Chairman shall preside at all meetings when present. A majority of Managers present at any meeting at which a quorum is present shall elect an alternate chairman to preside at such meeting if the Chairman is not present. The number of members of the Board is hereby set at three (3) and each of the individuals listed on Exhibit A attached hereto is hereby appointed, effective as of the date indicated thereon, as a member of the Board, to serve until his or her successor shall have been duly appointed and qualified. The Chairman identified on Exhibit A is hereby appointed to serve in the capacity of Chairman, effective as of the date indicated thereon.