Common use of Director and Officer Resignations Clause in Contracts

Director and Officer Resignations. Company will have procured and delivered to Purchaser the written resignations of each of the directors and executive officers of the Company and the Company Subsidiaries in form and substance reasonably acceptable to Purchaser (none of which resignations will prejudice or limit any rights such persons would otherwise have under any contract or benefit plan of the Company or any Company Subsidiary); and

Appears in 1 contract

Samples: Merger Agreement (Laurel Capital Group Inc)

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Director and Officer Resignations. The Company will have procured shall use commercially reasonable efforts to obtain a written letter of resignation from each of the directors of the Company and delivered to Purchaser the written resignations of from each of the directors and executive officers of each of its Subsidiaries that will be effective as of immediately prior to the Company and the Company Subsidiaries in form and substance reasonably acceptable to Purchaser (none of which resignations will prejudice or limit any rights such persons would otherwise have under any contract or benefit plan of the Company or any Company Subsidiary); andEffective Time.

Appears in 1 contract

Samples: Merger Agreement (Scientific Atlanta Inc)

Director and Officer Resignations. Unless otherwise directed by Parent, the Company will have procured and delivered shall use commercially reasonable efforts to Purchaser the obtain a written resignations letter of resignation from each of the directors and executive officers of the Company and from each of the Company Subsidiaries in form directors and substance reasonably acceptable officers of each Subsidiary that will be effective immediately before the Effective Time; provided that such resignation shall not affect any change of control rights to Purchaser (none of which resignations will prejudice such directors or limit any rights officers may be entitled to and shall not change such persons would otherwise have under any contract or benefit plan directors’ and officers’ status, if applicable, as an employee of the Company or any Company Subsidiary); andof its Subsidiaries.

Appears in 1 contract

Samples: Merger Agreement (Virage Logic Corp)

Director and Officer Resignations. The Company will have procured and delivered shall use commercially reasonable efforts to Purchaser the obtain a written resignations letter of resignation from each of the directors and executive officers of the Company and from each of the Company directors and officers of each of the Company's Subsidiaries in form that will be effective as of immediately prior to the Effective Time; provided that such resignation shall not affect any change of control rights to which such directors or officers may be entitled to and substance reasonably acceptable to Purchaser (none of which resignations will prejudice or limit any rights shall not change such persons would otherwise have under any contract or benefit plan directors' and officers' status, if applicable, as an employee of the Company or any Company Subsidiary); andof its Subsidiaries.

Appears in 1 contract

Samples: Merger Agreement (Synplicity Inc)

Director and Officer Resignations. At the request of Parent, the Company will have procured and delivered shall use its commercially reasonable efforts to Purchaser the obtain a written resignations letter of resignation from each of the directors and executive officers of the Company and the Company Subsidiaries in form and substance reasonably acceptable to Purchaser (none of which resignations will prejudice or limit any rights such persons would otherwise have under any contract or benefit plan from each of the Company or any Company Subsidiary); anddirectors and officers of each Subsidiary that will be effective as of immediately prior to, and contingent upon, the Effective Time.

Appears in 1 contract

Samples: Merger Agreement (Sourcefire Inc)

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Director and Officer Resignations. The Company will have procured and delivered shall use commercially reasonable efforts to Purchaser obtain a written letter of resignation from each of the written resignations directors of the Company and, if requested by Parent, from each of the directors and executive officers of the Company and the Company Subsidiaries in form and substance reasonably acceptable to Purchaser (none of which resignations each Subsidiary that will prejudice or limit any rights such persons would otherwise have under any contract or benefit plan be effective as of the Company or any Company Subsidiary); andEffective Time.

Appears in 1 contract

Samples: Merger Agreement (Digital Insight Corp)

Director and Officer Resignations. The Company will have procured shall use commercially reasonable efforts to obtain a written letter of resignation from each of the directors of the Company and delivered to Purchaser the written resignations of from each of the directors and executive officers of each Subsidiary of the Company and the Company Subsidiaries in form and substance reasonably acceptable to Purchaser (none of which resignations that will prejudice or limit any rights such persons would otherwise have under any contract or benefit plan be effective as of the Company or any Company Subsidiary); andEffective Time.

Appears in 1 contract

Samples: Merger Agreement (Transmeta Corp)

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