Directors and Officers of Surviving Entities. (i) From and after the First Company Merger Effective Time, until the Second Company Merger Effective Time, the members of the Board of Directors of the Company immediately prior to the First Company Merger Effective Time shall be the members of the Board of Directors of the Company Surviving Corporation, (ii) from and after the Second Company Merger Effective Time, until successors are duly elected or appointed and qualified in accordance with Applicable Law, the managers and officers of Merger Subsidiary Two immediately prior to the Second Company Merger Effective Time shall be the managers and officers of the Second Merger Subsidiary Surviving Entity, (iii) the officers of the Company immediately before the First Company Merger Effective Time shall be the officers of the Company Surviving Corporation immediately following the First Company Merger Effective Time, and (iv) the officers of Parent immediately prior to the Parent Merger Effective Time shall be the officers of the Parent Surviving Entity immediately following the Parent Merger Effective Time.
Directors and Officers of Surviving Entities. (a) The directors and officers of IX Blocker Merger Sub, in each case, immediately prior to the IX Blocker Merger Effective Time will be the directors and officers of Surviving IX Blocker from and after the IX Blocker Merger Effective Time until their successors are duly elected or appointed and qualified or until their earlier death, resignation, or removal in accordance with the operating agreement of Surviving IX Blocker.
(b) The directors and officers of Principals Blocker Merger Sub, in each case, immediately prior to the Principals Blocker Merger Effective Time will be the directors and officers of Surviving Principals Blocker from and after the Principals Blocker Merger Effective Time until their successors are duly elected or appointed and qualified or until their earlier death, resignation, or removal in accordance with the operating agreement of Surviving Principals Blocker.
(c) The manager(s) and officers of Company Merger Sub, in each case, immediately prior to the Company Merger Effective Time will be the manager(s) and officers of Surviving Company from and after the Company Merger Effective Time until their successors are duly elected or appointed and qualified or until their earlier death, resignation, or removal in accordance with the operating agreement of Surviving Company.
Directors and Officers of Surviving Entities. (1) The directors and officers of Acquisition Sub on the Effective Date shall be the directors and officers of the Holding Company Survivor and shall hold office from and after the Effective Date until their respective successors are duly elected or appointed and qualified, or (2) consummation of the Final Merger, whichever comes first. Each of the directors of Seller, and each of the directors of the Affiliated Seller Entities (as such term is defined in Paragraph 8(b) hereof) shall, upon the request of the MBFI Parties, submit his or her written resignation from such positions with Seller and/or the Affiliated Seller Entities, effective as of the Closing.
(2) The directors and officers of Bank on the Effective Date shall be the directors and officers of the Bank Survivor and shall hold office from and after the Effective Date, until their respective successors are duly elected or appointed and qualified.
