Common use of Number, Election and Term Clause in Contracts

Number, Election and Term. The Board shall consist of not less than one, nor more than seven individuals, the exact number of which shall be determined by the Members from time to time. The initial Board shall consist of three individuals, Xxxxx X. Xxxxxxxxxx, Xxxxxxx X. Xxxxxx and Xxxxxxx X. Xxxxxxxxx. A decrease in the number of directors shall not shorten an incumbent director's term. Each director shall hold office until the director resigns or is removed. Despite the expiration of a director's term, such director shall continue to serve until the director's successor is elected and qualifies, until there is a decrease in the number of directors or the director is removed.

Number, Election and Term. The Board shall consist of not less than one, nor more than seven three individuals, the exact number of which shall be determined by the Members directors from time to time. The initial Board Initially, there shall consist of be three individualsdirectors, Xxxxx Xxxxxx X. XxxxxxxxxxXxxxxxxxx, Xx. Xxxx Xxxxxxx X. Xxxxxx Xxxx and Xxxxxxx X. XxxxxxxxxXxxxxx. Directors shall be elected at the first annual Members' meeting and at each annual meeting thereafter. A decrease in the number of directors shall not shorten an incumbent director's term. Each director shall hold office until the director resigns next annual meeting of Members or is until removed. Despite the expiration of a director's term, such director shall continue to serve until the director's successor is elected and qualifies, until there is a decrease in the number of directors or until the director is removed.