Initial Board of Managers Clause Samples
The "Initial Board of Managers" clause defines the composition and appointment of the first governing body responsible for managing a company or organization, typically in an LLC context. This clause specifies who will serve as the initial managers, how they are selected, and may outline their powers or terms of service. For example, it might list the names of the initial managers or describe the process by which they are chosen at formation. Its core practical function is to establish clear leadership and decision-making authority from the outset, ensuring the company has a defined management structure immediately upon formation.
Initial Board of Managers. The following individuals will be the initial Board Members:
Initial Board of Managers. The following individuals will be the initial Board Members: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇-▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇. ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇. ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Initial Board of Managers. Pursuant to Section 6.1 hereof, ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇▇▇ shall be, and hereby are, nominated and elected as the sole members of the Board of Managers of the Company, to act in such capacity until their resignation or removal, or until their successors shall have been duly appointed and qualified in accordance in accordance with this Agreement.
Initial Board of Managers. The Member hereby appoints the following individuals as the initial Managers: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
Initial Board of Managers. The Member hereby appoints ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ as the initial Manager.
Initial Board of Managers. The initial Managers of the Company comprising the initial Board, who shall serve for such terms and in such manner as prescribed by this Agreement, are the persons named in the Articles and such other eligible natural persons designated as an initial Manager by the initial Board. The number of initial Managers serving the Company shall be established by the initial Board, but shall not be less than nine (9) or more than thirteen (13). During the term of the GLE Consulting and Management Agreement before Financial Closing, Glacial Lakes Energy, LLC shall be entitled to appoint one (1) Manager to the initial Board of Managers.
Initial Board of Managers. The initial Board of Managers will be appointed within 30 days of the Effective Date.
Initial Board of Managers. The following individuals will be the initial Managers of the Company:
Initial Board of Managers. Managers shall be elected or appointed by the Members at the times, in the manner and for the terms as prescribed by this Agreement. The initial Managers of the Company comprising the initial Board, who shall serve for such terms and in such manner as prescribed by this Agreement, are the following persons: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ and such other eligible natural persons designated as an initial Manager by the initial Board. The number of initial Managers serving the Company shall be established by the initial Board, provided that the number of initial Managers shall not be less than five (5) nor more than eleven (11).
Initial Board of Managers. The Members do hereby elect the following persons to serve as the initial Board Members: ▇▇▇▇ ▇▇▇▇▇▇; ▇▇▇▇ ▇▇▇▇▇▇; ▇▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇ ▇▇▇▇▇▇▇▇.