Common use of Number, Qualification and Term of Office of Directors Clause in Contracts

Number, Qualification and Term of Office of Directors. Initially, the number of Directors which shall constitute the whole Board of Directors shall be ten, but may be varied after the date hereof as provided in this Section 6.2. During the Initial Period, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by the Oaktree Member (but in no event shall be less than five or, without the consent of the Brookfield Member in its sole discretion, greater than ten), by written notice to the Brookfield Member. After the expiration of the Initial Period, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Directors then in office (but in no event shall be less than five). Each Director shall hold office as provided in Sections 6.3 to 6.5.

Appears in 2 contracts

Samples: Operating Agreement (Oaktree Capital Group, LLC), Operating Agreement (Oaktree Capital Group, LLC)

AutoNDA by SimpleDocs

Number, Qualification and Term of Office of Directors. Initially, the number of Directors which shall constitute the whole Board of Directors shall be ten, but may be varied after the date hereof as provided in this Section 6.2. During the Initial Period, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by the Oaktree Member (but in no event shall be less than five or, without the consent of the Brookfield Member in its sole discretion, greater than ten), by written notice to the Brookfield Member. After the expiration of the Initial Period, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Directors then in office (but in no event shall be less than five). Each Director shall hold office as provided in Sections 6.3 to 6.5.. Section 6.3

Appears in 1 contract

Samples: Operating Agreement (Oaktree Capital Group, LLC)

AutoNDA by SimpleDocs

Number, Qualification and Term of Office of Directors. InitiallyAs of the date of this Agreement, the number of Directors which shall constitute the whole Board of Directors shall be ten, but may be varied after the date hereof as provided in this Section 6.2. During the Initial Period, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by the Oaktree Member (but in no event shall be less than five or, without the consent of the Brookfield Member in its sole discretion, greater than ten), by written notice to the Brookfield Member. After the expiration of the Initial Period, the number of Directors which shall constitute the whole Board of Directors shall be determined from time to time by resolution adopted by a majority of the Directors then in office (but in no event shall be less than five). Each Director shall hold office as provided in Sections 6.3 to 6.5.

Appears in 1 contract

Samples: Operating Agreement (Brookfield Oaktree Holdings, LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.