Common use of Number, Qualification and Tenure Clause in Contracts

Number, Qualification and Tenure. The Board of Managers shall consist of not less than three members and not more than 15 members. Within the limit above specified, the number of Managers shall be determined from time to time by resolution of the Members. The number of Managers shall be initially fixed at three. The Managers shall be elected by the Members, except as provided in paragraph (c) of this Section 14, and each Manager elected shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation or removal. Managers need not be Members.

Appears in 16 contracts

Samples: Limited Liability Company Agreement (Lind-Waldock Securities, LLC), Limited Liability Company Agreement (Lind-Waldock Securities, LLC), Limited Liability Company Agreement (Lind-Waldock Securities, LLC)

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Number, Qualification and Tenure. The Board of Managers shall consist of not less than three members and not more than 15 members. Within the limit above specified, the number of Managers shall be determined from time to time by resolution of the Members. The number of Managers shall be initially fixed at threefive. The Managers shall be elected by the Members, except as provided in paragraph (c) of this Section 14, and each Manager elected shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation or removal. Managers need not be Members.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Lind-Waldock Securities, LLC), Limited Liability Company Agreement (Lind-Waldock Securities, LLC)

Number, Qualification and Tenure. The Board of Managers shall consist of not less than three members and not more than 15 members. Within the limit above specified, the number of Managers shall be determined from time to time by resolution of the Members. The number of Managers shall be he initially fixed at three. The Managers shall be elected by the Members, except as provided in paragraph (c) of this Section 14, and each Manager elected shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation or removal. Managers need not be Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Lind-Waldock Securities, LLC)

Number, Qualification and Tenure. The Board of Managers shall consist of not less than three members and not more than 15 members. Within the limit above specified, the number of Managers shall be determined from time to time by resolution of the Members. The number of Managers shall be initially fixed at three. The Managers shall be he elected by the Members, except as provided in paragraph (c) of this Section 14, and each Manager elected shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation or removal. Managers need not be Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Lind-Waldock Securities, LLC)

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Number, Qualification and Tenure. The Board of Managers shall consist of not less than three members one member and not more than 15 members. Within the limit above specified, the number of Managers shall be determined from time to time by resolution of the Members. The number of Managers shall be initially is currently fixed at threetwo. The Managers shall be elected by the Members, except as provided in paragraph (c) of this Section 14, and each Manager elected shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation or removal. Managers need not be Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Lind-Waldock Securities, LLC)

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