Common use of Directors’ Resignation Clause in Contracts

Directors’ Resignation. The Seller shall procure that all of the Target Company’s current managing directors and supervisory directors, shall resign from their position under the condition precedent of the execution of the Transfer Deed and shall execute a letter of resignation, substantially in the form of the draft attached as Schedule 7.4, on or before the Closing Date.

Directors’ Resignation. The Seller Sellers shall procure that all the directors of the Target Company’s current managing directors and supervisory directors, Group Companies referred to in Clause 5.2.2(ii) shall resign from their position under the condition precedent as of the execution of the Transfer Deed Closing Date and shall execute a letter of resignation, substantially in the form of the draft attached as Schedule 7.47.5, on or before the Closing Date.

Directors’ Resignation. The Seller shall procure that all of the Target Company’s current managing 's directors and supervisory directorswhose names are set out in Schedule 6.3.3(i), shall resign from their position under the condition precedent as of the execution of the Transfer Deed Closing Date and shall execute a letter of resignation, substantially in the form of the draft attached as Schedule 7.4, on or before the Closing Date, substantially in the form attached as Schedule 6.3.3(ii).