Qualification, Election and Removal of Managers Sample Clauses

Qualification, Election and Removal of Managers. (a) A Manager may, but shall not be required to, be elected from among the Members. A Manager may be any type of Person. 08111109606 RSI Prepared by Xxxx X. Xxxxxx, PC “Digitalaw” 804.726.6000 xxxxxxxxx.xxx 4 (b) The initial Board of Managers shall consist of three (3) Managers, as set forth in Exhibit B. The number of Managers may be increased or decreased from time to time, without amendment to this Agreement, by vote of the Members as a Majority Matter, at a meeting called expressly for such purpose. (c) Managers may be elected, as a Majority Matter, at any meeting of the Members that is called in whole or in part for the purpose of electing one or more Managers. Likewise, a Manager may be removed by the Members as a Majority Matter, with or without cause, at a meeting called expressly for that purpose. If, at the time of any meeting of the Members, there is any vacancy on the Board of Managers, the Members shall, at the meeting, elect one or more Managers to fill the vacancies (or, alternatively, reduce the number of Managers). Each Manager shall be elected by the affirmative vote of Members as a Majority Matter. At each annual meeting of the Members, the Members shall act upon the make-up of the then-existing Board of Directors, either by reaffirming the Board of Managers as it then exists, or by electing additional Managers, or by replacing a Manager or removing a Manager. Further, if, any Manager resigns, is removed, or otherwise vacates the office of Manager, the remaining Manager(s) shall serve until otherwise provided by the Members as a Majority Matter.