Number, Tenure and Qualifications. The Company shall initially have one (1) Manager, being Xxxxxxx Rock (the “Initial Manager”). The Initial Manager shall serve as sole Manager until it dissolves, resigns pursuant to Section 5.07, or is removed for cause pursuant to Section 5.08. Notwithstanding any other provision of this Operating Agreement to the contrary, unless and until the Initial Manager shall have dissolved, resigned or been removed for cause, the Initial Manager shall not be removed or replaced as sole Manager, nor shall any other Manager be elected as Manager of the Company without the Initial Manager’s prior written consent. Subject to the foregoing, the number of Managers of the Company shall be fixed from time to time by the affirmative vote of Members holding at least a Majority Interest, but in no instance, shall there be less than one Manager. Subject to the foregoing, each Manager shall hold officeuntil his successor shall have been elected and qualified or until his earlier death, resignation or removal. Subject to the foregoing, a Manager shall be elected by the affirmative vote of Members holding at least a Majority Interest. Managers need not be residents of the State of Georgia or Members of the Company.
Appears in 7 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
