Acceptance of Resignations. The Superintendent/designee may accept a unit member's resignation with a forty-eight (48)-hour right to rescind time-period.
Acceptance of Resignations. The Principal Borrower shall accept, effective immediately following the First Restated Closing and without the necessity of any further action by the Principal Borrower or either of Xxxxxx Xxxx or Xxx Xxxx, as applicable, each of the Resignations. Neither the Principal Borrower nor the Board shall take any action, or permit any action to be taken, to rescind or release any of the Resignations, or otherwise release, or permit or consent to the release of, any Resigning Board Member from such Resigning Board Member’s irrevocable obligation under his respective Resignation.
Acceptance of Resignations. Choices acknowledges that Xxxxxxxx Xxxxxx and Xxxxxx Xxxxxxxxxx have heretofore resigned as officers and/or directors of Choices. Choices accepts, as of the date hereof, the resignations of Xxxx Xxxxxx and Xxxx Xxxxxxx in the capacities described.
Acceptance of Resignations. 81 17.2. Authorization................................................82 17.3. Employees and Agent.........................................82 17.4. No Liability................................................83 17.5. No Representations..........................................83 17.5.1. General..........................................83 17.5.2. Closing Documentation, etc.......................83 17.6. Payments....................................................84 17.6.1. Payments to Co-Agent.............................84 17.6.2. Distribution by Co-Agent.........................84 17.6.3. Delinquent Lenders...............................84 17.7. Holders of Notes............................................85 17.8. Indemnity...................................................85 17.9. Agent as Lender.............................................85 17.10. Resignation................................................86 17.11. Notification of Defaults and Events of Default.............86 17.12. Duties in the Case of Enforcement..........................86
Acceptance of Resignations. (a) By execution of this Credit Agreement, the Lenders and the Borrowers hereby accept the resignation of Fleet, as administrative agent, and waive the 60-day notice requirement for such resignation set forth in the Original DIP Credit Agreement. The Lenders hereby appoint, and the Borrowers hereby accept the appointment of, General Electric Capital Corporation, as the administrative agent for the Lenders under this Credit Agreement.
