Change of Key Personnel Sample Clauses

Change of Key Personnel. If any person appointed as a chief executive officer or president of the Borrower or Heidmar cease to hold such role in either company and the Borrower does not notify the Lender within three Business Days of any such person appointed as a chief executive officer or president of the Borrower or Heidmar leaving such role.
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Change of Key Personnel. Not restated.
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Change of Key Personnel. (a) The Grantee must notify the Commonwealth in writing if there is a proposed change to Key Personnel. (b) A notice given under clause 6.3(a) must set out: (i) the reason for the proposed change to Key Personnel; (ii) the proposed replacement for the Key Personnel; and (iii) evidence that the proposed replacement Key Personnel has the technical or business skills required for the success of the Project. (c) If the Grantee gives notice under clause 6.3(a) the Commonwealth must advise the Grantee, within 21 days of receipt of the notice from the Grantee, that the Commonwealth has either approved or rejected the proposed replacement for the Key Personnel. (d) If the Commonwealth rejects the proposed replacement for the Key Personnel the Grantee may provide notice to the Commonwealth under clause 6.3(a) of an alternative replacement within 21 days of the receipt of the notice from the Commonwealth. (e) If the Grantee gives notice under clause 6.3(d) the Commonwealth must advise the Grantee, within 21 days of receipt of the notice from the Grantee, that the Commonwealth has either approved or rejected the proposed alternative replacement for the Key Personnel. (f) If the Commonwealth rejects the proposed alternative replacement for the Key Personnel, the Commonwealth may, in its absolute discretion, terminate this Agreement pursuant to clause 15.1.
Sample 1
Change of Key Personnel. Contractor shall not transfer, reassign, or remove any Contractor Personnel from their Key Personnel position (or announce its intention to do so) without Government’s prior written approval. The Government may withhold any such approval if it is not in the Government’s interest. In connection with any change in Key Personnel, the Contractor shall:  Give Government, at least sixty (60) days advance notice of a proposed change in Contractor Personnel filling a Key Personnel position (and where sixty (60) days is not possible, as much advance notice as is possible);  Within thirty (30) days of the notice, obtain Government’s approval of a suitable replacement, and have that Key Personnel replacement performing; and  Arrange (unless the circumstance of such change prevents) for the proposed replacement Key Personnel to work side-by-side with the incumbent Key Personnel during the notice period to affect a seamless transfer of knowledge prior to the incumbent leaving the Key Personnel position.
Sample 1
Change of Key Personnel. Any individual specified by name under the article Key Personnel within the Special Conditions herein is considered essential to the work and services to be performed. If for any reason substitution for a specified individual becomes necessary, the Grantee shall provide immediate written notification of such to the Department. The Grantee shall provide the name and resume of qualifications for the replacement individual. Any replacement shall be subject to the approval of the Department.
Sample 1
Change of Key Personnel. Contractor shall not transfer, reassign, or remove any Contractor Personnel from their Key Personnel position (or deliver or announce its intention or desire to do so) without Government’s prior written approval. The Government may withhold any such approval if it is not in the Government’s interest. For each Key Personnel position, the Contractor shall implement and maintain (a) a retention strategy designed to retain the Contractor Personnel in such Key Personnel position for the prescribed period, and (b) a current and active succession plan. The Contractor shall share such retention strategy(s) and succession plan(s) with Government upon request. In connection with any change in Key Personnel, the Contractor shall: (a) give Government, at least sixty (60) days advance notice of a proposed change in Contractor Personnel filling a Key Personnel position (and where sixty (60) days is not possible, as much advance notice as is possible), and will discuss with Government any objections or specific objectives Government may have; (b) within 30 days of the notice, obtain Government’s approval of a suitable replacement, and have that Key Personnel replacement performing; and (c) arrange (unless the circumstance of such change prevents) for the proposed replacement Key Personnel to work side-by-side with the incumbent Key Personnel during the notice period to affect a seamless transfer of knowledge prior to the incumbent leaving the Key Personnel position. In all events the Contractor shall not transfer, remove or re-assign more than ten percent (10%) of the Contractor Personnel serving in Key Personnel positions from such Key Personnel positions in any six (6) month period.
Sample 1
Change of Key Personnel. 9.1. Parties acknowledge the importance of the continuous involvement of Key Personnel for the Development with a view to quality and continuity of their staff. Therefore, Parties shall, subject to clause 9.3., not replace any of its Key Personnel during the execution of the Development. 9.2. Each Party may suggest to add or remove Key Personnel, which change shall be effective subject to the written approval of the other Party. In this case, Parties shall amend the relevant section(s) of Statement of Work accordingly. 9.3. If Personnel leaves the employment of either Party or otherwise becomes unavailable for reasons beyond the relevant Party’s reasonable control, this Party may replace the relevant employee with personnel with comparable training and experience (in particular regarding the skills required for working with the Development method under this Agreement), provided that: i. This Party shall promptly notify the other Party of the termination or unavailability of any such Key Personnel; ii. The other Party shall have the right to approve any replacement personnel for such Key Personnel proposed by the other Party, which approval shall not be unreasonably withheld or delayed. 9.4. In any event, the Party replacing Key Personnel will ensure the appropriate and efficient knowledge transfer between the relevant members of the staff and will take the costs thereof. 9.5. Parties may agree that the entire Key Personnel is fully available for certain periods to ensure progress in critical Development phases, to which end each Party shall ensure that its Key Personnel is not on vacation or otherwise on leave, unless explicitly agreed otherwise in writing.
Sample 1

Related to Change of Key Personnel

  • Key Personnel The Contractor’s organizational structure for the performance of the Work is provided in Exhibit K. Prior to the commencement of the Work, the Key Personnel shall hold the positions indicated in Exhibit K. Contractor acknowledges and agrees that the continuity of Key Personnel in connection with the Work is a material requirement of this Agreement and that the replacement of any Key Personnel will be detrimental to Owner and the overall quality of the Work. The Key Personnel will be engaged full-time and exclusively in the prosecution of the Work continuously until their role is completed, unless prior release is approved or directed by Owner; provided however, Key Personnel may be removed by Contractor without Owner’s consent for (a) termination of a Key Personnel’s employment with the Contractor or its Affiliates, or (b) a Key Personnel dying, retiring, resigning, or becoming seriously ill, or a serious illness or death in the family of a Key Personnel. Revisions to the organizational structure of Key Personnel shall be subject to Owner’s prior approval, and replacement of, or additions to, such Key Personnel shall only be made with persons having qualifications equal to or better than those replaced or added to, and shall be similarly subject to Owner’s prior approval. All requests for the substitution of Key Personnel shall include a detailed explanation and reason for the request and the resumes of professional education and experience for a minimum of two (2) candidates of suitable qualifications and experience. Owner shall respond within ten (10) days of receiving the resumes with its written approval or detailed comments as to why approval is not granted. Should Owner approve of the replacement of a Key Personnel, Contractor shall allow for an overlap of a minimum of two (2) weeks during which both the Key Personnel to be replaced and the Owner-approved new Key Personnel shall work together full time. Owner may if it is concerned with the performance thereof request in writing the removal of, and Contractor shall promptly remove and replace, any Key Personnel. Contractor agrees that, notwithstanding its other business commitments, it will give the Work a priority and commit sufficient resources to the Work that will enable Contractor to perform its obligations under this Agreement.

  • Change of Control/Change in Management (i) Any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a Person will be deemed to have “beneficial ownership” of all securities that such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 35% of the total voting power of the then outstanding voting stock of the Parent; (ii) During any period of 12 consecutive months ending after the Agreement Date, individuals who at the beginning of any such 12-month period constituted the Board of Directors of the Parent (together with any new directors whose election by such Board or whose nomination for election by the shareholders of the Parent was approved by a vote of a majority of the directors then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors of the Parent then in office; or (iii) The Parent or a Wholly Owned Subsidiary of the Parent shall cease to be the sole general partner of the Borrower or shall cease to have the sole and exclusive power to exercise all management and control over the Borrower.