Common use of Initial Board Clause in Contracts

Initial Board. Subject to the provisions of Section 5.3.2, below, the initial Board of Directors shall consist of one designated representative, or alternate, from each Member. At any point in time that there are less than five (5) Members, the Members,

Initial Board. Subject to the provisions of Section 5.3.2, below, the initial Board of Directors shall consist of one designated representative, or alternate, from each Member. At any point in time that there are less than five (5) Members, the Members,, through their representatives to the Board of Directors, may elect additional voting Directors by majority vote, such that there is always a minimum of five (5)

Initial Board. Subject to the provisions of Section 5.3.2, below, the initial Board of Directors shall consist of one designated representative, or alternate, from each Member. At any point in time that there are less than five (5) Members, the Members,, through their representatives to the Board of Directors, may elect additional voting Directors by majority vote, such that there is always a minimum of five (5) voting Directors. The term of such additional voting Directors shall end when there are at least 5 Members with representation on the Board of Directors.