Common use of Composition of the Board of Managers Clause in Contracts

Composition of the Board of Managers. (i) The number of Managers shall initially be four, subject to automatic increase, as set forth herein, in the event either the Darling Member or the Valero Member is entitled to designate an aggregate of three or four Managers pursuant to Section 5.2(b). The Managers shall be elected at the annual meeting called pursuant to Section 5.6(a) or at any special meeting called pursuant to Section 5.6(b) for the purpose of electing Managers. Each Darling Manager and each Valero Manager shall be entitled to cast one vote with respect to each matter brought before the Board of Managers (or any committee thereof) for approval. Each Manager elected shall hold office until a successor is duly elected and qualified or until his or her earlier death, resignation, or removal as provided in this Agreement. (ii) Any Manager of the Company may resign at any time by giving written notice to the President or the Secretary and to the Darling Member and the Valero Member. The resignation of any Manager shall take effect upon receipt of notice thereof or at such later time as shall be specified in such notice, and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective (iii) As of the Effective Date, the Managers designated by the Valero Member are ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, and the Managers designated by the Darling Member are ▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇▇▇.

Composition of the Board of Managers. (i) The number of Managers shall initially be four, subject to an automatic increaseincrease to five or six Managers, as set forth hereinthe case may be, in the event either the Darling Member or the Valero Member is entitled to designate an aggregate of three or four Managers pursuant to Section 5.2(b). The Managers shall be elected at the annual meeting called pursuant to Section 5.6(a) or at any special meeting called pursuant to Section 5.6(b) for the purpose of electing Managers. Each Darling Manager and each Valero Manager shall be entitled to cast one vote with respect to each matter brought before the Board of Managers (or any committee thereof) for approval. Each Manager elected shall hold office until a successor is duly elected and qualified or until his or her earlier death, resignation, or removal as provided in this Agreement. (ii) Any Manager of the Company may resign at any time by giving written notice to the President or the Secretary and to the Darling Member and the Valero Member. The resignation of any Manager shall take effect upon receipt of notice thereof or at such later time as shall be specified in such notice, and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. (iii) As of the Effective Date, the The initial Managers designated by the Valero Member are shall be G▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ and R▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, and the initial Managers designated by the Darling Member are shall be R▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇J▇▇▇ ▇▇▇▇▇▇.

Composition of the Board of Managers. (i) The number of Managers shall initially be four, subject to automatic increase, as set forth herein, in the event either the Darling Member or the Valero Member is entitled to designate an aggregate of three or four Managers pursuant to Section 5.2(b). The Managers shall be elected at the annual meeting called pursuant to Section 5.6(a) or at any special meeting called pursuant to Section 5.6(b) for the purpose of electing Managers. Each Darling Manager and each Valero Manager shall be entitled to cast one vote with respect to each matter brought before the Board of Managers (or any committee thereof) for approval. Each Manager elected shall hold office until a successor is duly elected and qualified or until his or her earlier death, resignation, or removal as provided in this Agreement. (ii) Any Manager of the Company may resign at any time by giving written notice to the President or the Secretary and to the Darling Member and the Valero Member. The resignation of any Manager shall take effect upon receipt of notice thereof or at such later time as shall be specified in such notice, and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective (iii) As of the Effective Date, the Managers designated by the Valero Member are ▇. ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, and the Managers designated by the Darling Member are ▇▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇▇▇.

Composition of the Board of Managers. (i) The number of Managers shall initially be four, subject to automatic increase, as set forth herein, in the event either the Darling Member or the Valero Member is entitled to designate an aggregate of three or four Managers pursuant to Section 5.2(b). The Managers shall be elected at the annual meeting called pursuant to Section 5.6(a) or at any special meeting called pursuant to Section 5.6(b) for the purpose of electing Managers. Each Darling Manager and each Valero Manager shall be entitled to cast one vote with respect to each matter brought before the Board of Managers (or any committee thereof) for approval. Each Manager elected shall hold office until a successor is duly elected and qualified or until his or her earlier death, resignation, or removal as provided in this Agreement. (ii) Any Manager of the Company may resign at any time by giving written notice to the President or the Secretary and to the Darling Member and the Valero Member. The resignation of any Manager shall take effect upon receipt of notice thereof or at such later time as shall be specified in such notice, and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective (iii) As of the Effective Date, the Managers designated by the Valero Member are ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, and the Managers designated by the Darling Member are ▇▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇.