Common use of Power and Authority of Board Clause in Contracts

Power and Authority of Board. (a) The Company shall be managed by a Board of Managers (“Board” or “Board of Managers”). The Company shall initially have seven managers (each, a “Manager” and, collectively, the “Managers”) and the Managers serving on the Board shall be appointed and removed by a Majority Interest of the Members, subject to the terms of the Voting and Transfer Restriction Agreement. The Managers making up the initial Board shall be Xxxxxxx X. Xxxxx, Xxxxxx X. Xxxx, Xxxxx XxXxxxx, Xxxx Xxxxx, Xxxxx X. Xxxxx and Xxx Xxxxx. Except as otherwise expressly provided in Section 5.4 and elsewhere in this Agreement, all management powers over the business and affairs of the Company shall be exclusively vested in the Board, and the Members shall have no right of control over the business and affairs of the Company. In addition to the powers now or hereafter granted to managers under the Act or which are granted to the Board under any other provision of this Agreement, the Board shall have full power and authority to do all things deemed necessary or desirable by it to conduct the business of the Company in the name of the Company. In connection with the foregoing and otherwise, the Company (and the officers, employees, and agents acting on behalf of the Company) shall not, either acting on its own behalf or when acting as controlling equityholder of any of its Subsidiaries (and the officers, employees, and agents acting on the Company’s behalf in such capacity) shall not permit such Subsidiaries to, take any actions with respect to the Company or such Subsidiaries without the affirmative vote of at least a majority of the Board at a regular meeting or a special meeting called for the purpose, or by written consent.

Power and Authority of Board. (a) The Company shall be managed by a Board of Managers (“Board” or “Board of Managers”). The Company shall initially have seven five (5) managers (each, a “Manager” and, collectively, the “Managers”) and the Managers serving on the Board shall be appointed and removed by a Majority Interest of the Members, subject to the terms of the Voting and Transfer Restriction Agreement. The Managers making up the initial current Board shall be Xxxxxxx Xxxxx Xxxx, Xxxxxxxx Xxxx, Xxxxx X. Xxxxx, Xxxxxx X. Xxxx, Xxxxx XxXxxxx, Xxxx Xxxxx, Xxxxx X. Xxxxx and Xxx XxxxxXxxxx X. Xxxxxxxxx. Except as otherwise expressly provided in Section 5.4 and elsewhere in this Agreement, all management powers over the business and affairs of the Company shall be exclusively vested in the Board, and the Members shall have no right of control over the business and affairs of the Company. In addition to the powers now or hereafter granted to managers under the Act or which are granted to the Board under any other provision of this Agreement, the Board shall have full power and authority to do all things deemed necessary or desirable by it to conduct the business of the Company in the name of the Company. In connection with the foregoing and otherwise, the Company (and the officers, employees, and agents acting on behalf of the Company) shall not, either acting on its own behalf or when acting as controlling equityholder equity-holder of any of its Subsidiaries (and the officers, employees, and agents acting on the Company’s behalf in such capacity) capacity shall not permit such Subsidiaries to), take do any actions with respect to of the Company or such Subsidiaries things described in clauses (i) — (xii) below without the affirmative vote of at least a majority of the Board at a regular meeting or a special meeting called for the purpose, or by written consent.consent (it being agreed that the below items are not intended to be an exclusive statement of all of the actions of the Board that require prior approval of the members of the Board or the Members, and such provisions are in addition to any and all other requirements imposed by other provisions of this Agreement or applicable law):

Power and Authority of Board. (a) The Company shall be managed by a Board of Managers (“Board” or “Board of Managers”). The Company shall initially have seven (7) managers as of the date hereof (each, a “Manager” and, collectively, the “Managers”) and the Managers serving on the Board shall be appointed and removed by a Majority Interest of the Members, subject to the terms of the Voting and Transfer Restriction Agreement. The Managers making up the initial Board as of the date hereof shall be Xxxxxxx Xxxx Xxxxxx, Xxxx Xxxxxxx, Xxxxx X. Xxxxx, Xxxxxx Xxxxxxxxxxx X. XxxxXxxxxx, Xxxxx XxXxxxxXxxxxxxxxxx Xxx, Xxxx Xxxxx, Xxxxx X. Xxxxx and Xxx XxxxxXxxxxx Xxxxxx. Except as otherwise expressly provided in Section 5.4 and elsewhere in this Agreement, all management powers over the business and affairs of the Company shall be exclusively vested in the Board, and the Members shall have no right of control over the business and affairs of the Company. In addition to the powers now or hereafter granted to managers under the Act or which are granted to the Board under any other provision of this Agreement, the Board shall have full power and authority to do all things deemed necessary or desirable by it to conduct the business of the Company in the name of the Company. In connection with the foregoing and otherwise, the Company (and the officers, employees, and agents acting on behalf of the Company) shall not, either acting on its own behalf or when acting as controlling equityholder equity-holder of any of its Subsidiaries (and the officers, employees, and agents acting on the Company’s behalf in such capacity) capacity shall not permit such Subsidiaries to), take any actions with respect to the Company or such Subsidiaries without the affirmative vote of at least a majority of the Board at a regular meeting or a special meeting called for the purpose, or by written consent.

Power and Authority of Board. (a) The Company shall be managed by a Board of Managers (“Board” or “Board of Managers”). The Company shall initially have seven six managers (each, a “Manager” and, collectively, the “Managers”) and the Managers serving on the Board shall be appointed and removed by a Majority Interest of the Members, subject to the terms of the Voting and Transfer Restriction Agreement. The Managers making up the initial Board shall be Xxxxxxx X. Xxxxx, Xxxxxx X. Xxxx, Xxxxx XxXxxxx, Xxxx Xxxxx, Xxxxx X. Xxxxx and Xxx Xxxxx. Except as otherwise expressly provided in Section 5.4 and elsewhere in this Agreement, all management powers over the business and affairs of the Company shall be exclusively vested in the Board, and the Members shall have no right of control over the business and affairs of the Company. In addition to the powers now or hereafter granted to managers under the Act or which are granted to the Board under any other provision of this Agreement, the Board shall have full power and authority to do all things deemed necessary or desirable by it to conduct the business of the Company in the name of the Company. In connection with the foregoing and otherwise, the Company (and the officers, employees, and agents acting on behalf of the Company) shall not, either acting on its own behalf or when acting as controlling equityholder of any of its Subsidiaries (and the officers, employees, and agents acting on the Company’s behalf in such capacity) shall not permit such Subsidiaries to, take any actions with respect to the Company or such Subsidiaries without the affirmative vote of at least a majority of the Board at a regular meeting or a special meeting called for the purpose, or by written consent.