Total Composition. Initially, the Cleco Power Board shall consist of eight (8) natural persons and shall be composed of the individuals set forth on Exhibit C-1 to this Agreement. At or prior to the close of business on the Effective Date, the Cleco Power Board shall be expanded to consist of up to eighteen (18) natural persons, up to five (5) of whom may be Independent Managers and one of whom will be the Special Independent Manager. The composition of the Cleco Power Board as of the close of business on the Effective Date shall be as set forth on Exhibit C-2 to this Agreement.
Appears in 2 contracts
Sources: Operating Agreement (Cleco Power LLC), Operating Agreement