Involuntary Removal Sample Clauses

The Involuntary Removal clause establishes the conditions under which a party, such as a partner, member, or director, can be forcibly removed from their position or interest in an organization without their consent. Typically, this clause outlines specific triggers for removal, such as misconduct, breach of duty, incapacity, or legal disqualification, and details the process for initiating and approving the removal, often requiring a vote or decision by the remaining members or board. Its core practical function is to protect the organization from individuals whose continued involvement could harm its operations or reputation, thereby ensuring effective governance and risk management.
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Involuntary Removal. ▇▇▇▇▇ ▇. ▇▇▇▇▇ is involuntarily removed as President of Chardan or DAL, without Cause.
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Involuntary Removal. (a) The Company shall have the right, but no obligation, to remove any Defaulting Member without advance notice, and the remaining members may assume the membership interest of the Defaulting Member, or the Company may admit a replacement member, and pay to the Defaulting Member the sum of (A) the pro rata share of the Withdrawing Member of the most current Value determined under ss. 4.06 above, less the sum of (B) any due but unpaid assessments or contributions due from the Defaulting Member, and (C) the costs incurred by the Company to obtain a replacement member (including without limitation brokerage commissions and attorney's fees and costs), whereupon the Defaulting Member shall no longer be a member of the Company or a party to this Agreement. (b) On the death, dissolution, permanent disability, or bankruptcy of a member the member shall be deemed to have withdrawn from membership and the Company shall have the right to acquire that member's membership interest and pay to him or as applicable his estate, heir, trustee, or successor in law, the sum of (A) the pro rata share of the Withdrawing Member of the most current Value determined under ss. 4.06 above, less (B) any due but unpaid assessments or contributions due from the member, whereupon the member shall no longer be a member of the Company or a party to this Agreement.
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Involuntary Removal. If an Eligible Director is removed by the Company other than for Cause including, but not limited to, the Company’s decision not to slate such Eligible Director for reelection, then: (i) the Grantee’s Restricted Shares that were forfeitable shall thereupon become nonforfeitable; (ii) the Grantee’s Restricted Stock Units shall immediately be settled in accordance with Section 9.4; (iii) any unexercised Option or SAR, whether or not exercisable on the date of such Termination of Affiliation, shall thereupon be fully exercisable and may be exercised, in whole or in part for ninety (90) days following such Termination of Affiliation (but only during the Option Term or SAR Term, respectively); and (iv) the Company shall immediately pay to the Grantee, with respect to any Performance Share or Performance Unit with respect to which the Performance Period has not ended as of the date of such Termination of Affiliation, a cash payment equal to the product of (A) with respect to a Performance Share either (I) in the case of an Involuntary Removal occurring within the one-year period immediately following a Change of Control, the Change of Control Value or (II) in the case of an Involuntary Removal outside of the one-year period immediately following a Change of Control, the Fair Market Value on the effective date of the Grantee's Termination of Affiliation, or (B) in the case of a Performance Unit, the value of the Performance Unit specified in the Award Agreement, as applicable, multiplied successively by each of the following: (A) a fraction, the numerator of which is the number of whole and partial months that have elapsed between the beginning of such Performance Period and the date of such Termination of Affiliation and the denominator of which is the number of whole and partial months in the Performance Period; and (B) a percentage equal to a greater of (x) the target percentage, if any, specified in the applicable Award Agreement or (y) the maximum percentage, if any, that would be earned under the terms of the applicable Award Agreement assuming that the rate at which the performance goals have been achieved as of the date of such Termination of Affiliation would continue until the end of the Performance Period.
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Involuntary Removal. Rolling Hills may terminate this Agreement and discharge Resident for any of the following reasons:
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Involuntary Removal. SECTION 42.1 The Employer may remove an employee from further employment at a particular location, provided there is a good faith reason to justify such removal, apart from a customer demand. Unless the Employer has cause to discharge the employee, the Employer will place the employee in a similar job at another facility covered by this Agreement, without loss of SECTION 42.2 In the event an employee is transferred to another building pursuant to Section 42.1and is not filling a vacant position, the Employer shall seek volunteers for transfer to the building from which the initial transfer occurred on the basis of seniority within the job title. If there are no volunteers, the junior employee shall be selected for transfer and receive the same protections offered to the transferred employee.
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Involuntary Removal. SECTION 42.1 The Employer may remove an employee from further employment at a particular location, provided there is a good faith reason to justify such removal, apart from a customer demand. Unless the Employer has cause to discharge the employee, the Employer will place the employee in a similar job at another facility covered by this Agreement, without loss of entitlement seniority or reduction in pay, benefits, or, to the extent possible, hours. The Employer may not solicit a demand from a customer that an employee be removed from a location in an effort to circumvent Section 21.1 of this Agreement. SECTION 42.2 In the event an employee is transferred to another building pursuant to Section 42.1and is not filling a vacant position, the Employer shall seek volunteers for transfer to the building from which the initial transfer occurred on the basis of seniority within the job title. If there are no volunteers, the junior employee shall be selected for transfer and receive the same protections offered to the transferred employee.
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Related to Involuntary Removal

  • Involuntary Reassignment a. Involuntary reassignment shall mean a District-initiated reassignment from one school or site to another. The District and Association recognize the need for some reassignments of SSP Employees may be unavoidable. It is agreed that involuntary reassignment should be held to a minimum, and involuntary reassignments should not result in an assignment of an SSP Employee to a position for which they are not qualified by academic preparation or license. b. All District-initiated reassignment(s) must be completed before the voluntary reassignment process will begin. c. The involuntary reassignment of an SSP Employee should be used to best meet the needs of all students in the District, and every reasonable effort should be made to ensure continuity and consistency in assignments. Maintaining open communication with the affected SSP Employees(s) is encouraged to help reduce the stress associated with involuntary reassignment. d. In order to ensure the most transparent and effective reassignment process, SSP Employees and administrators should expedite the identification of vacancies that become available through normal attrition (e.g., retirements or resignations) as well as increases to staffing. e. In an effort to provide clarity and transparency for the need for involuntary reassignment, the appropriate District department leader, or designee, will determine staffing needs at a school or site based on meeting the needs of the District’s strategic plan. i. Should there be more than one qualified SSP Employee eligible for reassignment from a building or site, there will be a request for volunteer(s) to be reassigned. If no SSP Employee volunteers to be reassigned, the District and the Association agree that meeting the needs of students should be the guiding factor in making a decision on reassignment. ii. The District will make a good faith effort not to reassign an SSP Employee more than once in any three-year period. This should not prohibit an SSP Employee from voluntary reassignment. iii. Any SSP Employee currently on a Directed Improvement Plan (DIP) or Remediation Plan may be reassigned following communication between the District department leader, or designee, the SSP Employee, their own designated representative, and the affected principal/supervisor. In all instances where the SSP Employee is reassigned, they will continue to be subject to the DIP or Remediation Plan. f. The appropriate District department leader, or designee, will preliminarily inform the Office of Human Resources of the potential need for involuntary reassignment. Within five (5) days of the Office of Human Resources confirming the need for involuntary reassignment, the appropriate District department leader, or designee, must notify the affected SSP Employee(s), the principal(s), the Office of Human Resources and the Cherry Creek Education Association (CCEA) in writing of the assignments (e.g., school, percent of contract affected) requiring involuntary reassignment. These notices will contain the reason(s) for involuntary reassignment in writing. g. Any SSP Employee being involuntarily reassigned may request the Superintendent, or designee, to review the recommendation for reassignment. If within one (1) year, a similar position arises at the SSP Employee’s previous school or site, the employee will be given an opportunity to return if they desire. h. Once notified of the need for involuntary reassignments by the appropriate District department leader, or designee, the affected SSP Employee will still have the opportunity to pursue voluntary reassignment.

  • Involuntary Demotion An employee assigned to a lower rated position shall continue to be paid at the employee's current rate of pay until the rate of pay in the new position equals or exceeds it.

  • Voluntary Resignation Discharge for just cause.

  • Voluntary Resignation without Good Reason The Executive may voluntarily terminate employment without Good Reason upon 30 days’ prior written notice to the Company. In such event, after the effective date of such termination, no payments shall be due under this Agreement, except that the Executive shall be entitled to any Accrued Obligations.

  • Involuntary Insolvency Without consent by Grantee, a court or government authority enters an order, and such order is not vacated within ten (10) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Grantee or with respect to any substantial part of Grantee's property, (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction or (iii) ordering the dissolution, winding-up or liquidation of Grantee.