Common use of Director Resignations Clause in Contracts

Director Resignations. Company shall use commercially reasonable efforts to cause to be delivered to Buyer resignations of all the directors of its Subsidiaries (other than Company Bank) to be effective as of the Effective Time.

Appears in 7 contracts

Samples: Merger Agreement (Independent Bank Corp), Merger Agreement (Peoples Federal Bancshares, Inc.), Merger Agreement (Independent Bank Corp)

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Director Resignations. Company shall use commercially reasonable efforts to cause to be delivered to Buyer resignations of all the directors of Company and its Subsidiaries (other than Company Bank) Subsidiaries, such resignations to be effective as of the Effective Time.

Appears in 5 contracts

Samples: Merger Agreement (C1 Financial, Inc.), Merger Agreement (Bank of the Ozarks Inc), Merger Agreement (Bank of the Ozarks Inc)

Director Resignations. The Company shall use commercially reasonable commercial efforts to cause to be delivered to Buyer Purchaser resignations of any or all the directors of its Subsidiaries the Company (other than Company Bankas shall be requested by Purchaser) to be effective as upon the Closing, subject to Purchaser purchasing not less than 51% of the Effective TimeShares at the Closing. The Company shall use reasonable commercial efforts to cause such directors, prior to resignation, to appoint, and such directors shall appoint, new directors nominated by Purchaser to fill such vacancies.

Appears in 3 contracts

Samples: Acquisition Agreement (Parker Hannifin Corp), Acquisition Agreement (Parker Hannifin Corp), Acquisition Agreement (Denison International PLC)

Director Resignations. The Company shall use commercially its reasonable best efforts to cause to be delivered to Buyer resignations of all the directors of the Company and its Subsidiaries (other than Company Bank) to be effective as of the Effective Time.

Appears in 3 contracts

Samples: Merger Agreement (People's United Financial, Inc.), Merger Agreement (LSB Corp), Merger Agreement (Massbank Corp)

Director Resignations. Company shall use commercially reasonable its best efforts to cause to be delivered to Buyer resignations of all the directors of Company and its Subsidiaries (other than Company Bank) to be effective as of the Effective Time.

Appears in 2 contracts

Samples: Merger Agreement (Independent Bank Corp), Merger Agreement (Slades Ferry Bancorp)

Director Resignations. The Company shall use commercially reasonable efforts to cause obtain the written resignation from the Company Board of each member of the Company Board prior to be delivered the Effective Time, such resignations to Buyer resignations of all the directors of its Subsidiaries (other than Company Bank) to be effective as of take effect at the Effective Time.

Appears in 2 contracts

Samples: Merger Agreement (Renova Media Enterprises Ltd.), Merger Agreement (Moscow Cablecom Corp)

Director Resignations. Company shall use commercially reasonable efforts to cause to be delivered deliver to Buyer resignations of all the directors of its Subsidiaries (other than Company, Company Bank) , and any of their Subsidiaries to be effective as of the Effective Time.

Appears in 2 contracts

Samples: Merger Agreement (Independent Bank Corp), Merger Agreement (Independent Bank Corp)

Director Resignations. The Company shall use commercially reasonable efforts to cause to be delivered to Buyer resignations obtain a written letter of all resignation from each of the directors of the Company, and each of its Subsidiaries (other than Company Bank) to that will be effective as of immediately prior to the Effective Time; provided, that such resignation shall not affect any change of control rights or other benefits to which such directors may be entitled to and shall not change such directors’ status, if applicable, as an employee of the Company or any of its Subsidiaries.

Appears in 2 contracts

Samples: Merger Agreement (Axway Inc.), Merger Agreement (Tumbleweed Communications Corp)

Director Resignations. Company shall use commercially reasonable efforts to cause to be delivered to Buyer resignations of all the directors of Company and its Subsidiaries (other than Company Bank) to be effective as of the Effective Time.

Appears in 1 contract

Samples: Merger Agreement (Independent Bank Corp)

Director Resignations. The Company shall use commercially its reasonable best efforts to cause to be delivered to Buyer resignations Purchaser the resignation (effective at the Effective Time or earlier as provided in Section 2.5) of all the directors each director of its Subsidiaries (other than Company Bank) to be effective as each of the Effective TimeAcquired Corporations who is not a part of the Purchaser Group or an Affiliate thereof.

Appears in 1 contract

Samples: Merger Agreement (Playboy Enterprises Inc)

Director Resignations. Company shall use commercially reasonable best efforts to cause to be delivered to Buyer resignations of all the directors of Company and its Subsidiaries (other than Company Bank) Subsidiaries, such resignations to be effective as of the Effective Time.

Appears in 1 contract

Samples: Merger Agreement (Bank of the Ozarks Inc)

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Director Resignations. The Company shall use commercially reasonable best efforts to cause to be delivered to Buyer DLR resignations executed by each director of all the directors of Company and its Subsidiaries (other than in office immediately prior to the Company Bank) Merger Effective Time, such resignations to be effective as of the Company Merger Effective Time.

Appears in 1 contract

Samples: Merger Agreement (Dupont Fabros Technology, Inc.)

Director Resignations. Company shall use commercially reasonable efforts to cause to be delivered to Buyer Purchaser resignations of all the directors of Company and its Subsidiaries (other than Company Bank) Subsidiaries, such resignations to be effective as of the Effective Time.

Appears in 1 contract

Samples: Merger Agreement (Seacoast Banking Corp of Florida)

Director Resignations. The Company shall will use commercially reasonable efforts to cause to be delivered to Buyer obtain executed resignations and releases of all each director of the directors of its Subsidiaries (other than Company Bank) to be effective as of the Effective Time.

Appears in 1 contract

Samples: Merger Agreement (Eye Care Centers of America Inc)

Director Resignations. Company shall use commercially reasonable efforts to cause to be delivered deliver to Buyer resignations of all the directors of its Subsidiaries (other than the Company, Company Bank) , and any of their Subsidiaries to be effective as of the Effective Time.

Appears in 1 contract

Samples: Merger Agreement (Independent Bank Corp)

Director Resignations. Company shall Prior to the Effective Time, the Corporation will use commercially reasonable efforts to cause to be delivered to Buyer resignations each director of all the directors Corporation and each of its Subsidiaries (other than Company Bank) to be execute and deliver a letter effectuating such director’s resignation, effective as of the Effective Time, as a director of the Corporation or such Subsidiary, as applicable.

Appears in 1 contract

Samples: Arrangement Agreement (Trillium Therapeutics Inc.)

Director Resignations. Company shall use commercially its reasonable best efforts to cause to be delivered to Buyer resignations Sxxxxxxxxx a letter of all resignation in the directors form of its Subsidiaries Exhibit C executed by each director of Company, Company Operating Partnership and each Wholly Owned Company Subsidiary in office immediately prior to the Merger Effective Time (other than the Company Bank) Designee, if applicable), such resignations to be effective as of the applicable Merger Effective Time, to the extent that such director has not previously delivered such resignation.

Appears in 1 contract

Samples: Merger Agreement (ZAIS Financial Corp.)

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