Common use of Action by the Board of Managers Clause in Contracts

Action by the Board of Managers. (a) Meetings of the Board of Managers may be called by any Manager upon twenty-four hours prior written notice to each Manager. The presence of a majority of the Managers then in office shall constitute a quorum at any meeting of the Board of Managers. All actions of the Board of Managers shall require the affirmative vote of a majority of the Managers then in office.

Action by the Board of Managers. (a) Meetings of the Board of Managers may be called by any Manager upon twenty-four hours prior written notice to each Manager. The presence of a majority of the Managers then in office shall constitute a quorum at any meeting of the Board of Managers. All actions of the Board of Managers shall require the affirmative vote of a majority of the Managers then in office.