Common use of Regular Meetings; Notice Clause in Contracts

Regular Meetings; Notice. Regular meetings of the Board of Managers shall be held at such time and place as shall be designated by the Board of Managers from time to time. Notice of such regular meetings shall not be required, except as otherwise expressly required herein or by law, and except that whenever the time or place of regular meetings shall be initially fixed and then changed, notice of such action shall be given promptly by telephone or otherwise to each Manager not participating in such action. Any business may be transacted at any regular meeting.