Quorum; Acts of the Board of Managers; Adjournments. At all meetings of the Board of Managers, both Managers in office shall be required to constitute a quorum for the transaction of business. Except as otherwise specifically provided in any other provision of this Agreement, the act of both of the Managers, acting together, present at any meeting of the Board of Managers at which a quorum is present shall constitute the act of the Board of Managers. If a quorum shall not be present at any meeting of the Board of Managers, the Managers present at the meeting, though less than a quorum, may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present.
Quorum; Acts of the Board of Managers; Adjournments. At all meetings of the Board of Managers, a majority of the Managers in office shall constitute a quorum for the transaction of business; provided, however, that, except when the number of Managers constituting the whole Board of Managers is only two Managers, the number of Managers constituting a quorum for the transaction of business shall not be less than two. Except as otherwise specifically provided in any other provision of this Agreement, the act of a majority of the Managers present at any meeting of the Board of Managers at which a quorum is present shall constitute the act of the Board of Managers. If a quorum shall not be present at any meeting of the Board of Managers, the Managers present at the meeting, though less than a quorum, may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present.
