Common use of Number of Managers Clause in Contracts

Number of Managers. The number of individuals (each, a “Manager”) which shall constitute the whole Board of Managers shall be seven (7). Such number of Managers constituting the whole Board of Managers may not be increased or decreased without the consent of the Majority Preferred Members; provided, however, that it is understood that there may be one or more vacancies on the Board of Managers from time to time and that the actual number of Managers serving on the Board of Managers from time to time may be less than seven (7).