Common use of Key Management Clause in Contracts

Key Management. The Borrower shall employ individuals in the key management positions of Chairman, President and Chief Financial Officer and shall use its best efforts to cause such key managers to continue to serve in their respective capacities. In the event of the voluntary or involuntary termination of any key manager for any reason, the Borrower shall, as soon as practicable, replace such individual with another qualified manager with comparable management skills and experience in the Borrower's industries and reasonably satisfactory to the Agents.

Appears in 1 contract

Samples: Credit Agreement (Sygnet Wireless Inc)

AutoNDA by SimpleDocs

Key Management. The Borrower shall employ individuals in the key management positions of Chairman, President and Chief Financial Officer (or equivalent officer), and shall use its best efforts to cause such key managers to continue to serve in their its respective capacities. In the event of the voluntary or involuntary termination of any key manager for any reason, or the death or incapacity of any key manager, the Borrower shall, as soon as practicable, replace such individual with another qualified manager with comparable management skills and experience in the Borrower's industries and reasonably satisfactory to the Agentsindustry.

Appears in 1 contract

Samples: Credit Agreement (Scientific Industries Inc)

Key Management. The Borrower shall employ individuals in the key management positions of Chairman, Xxxxxxxx X. XxXxxxxx as President and Chief Financial Officer Executive Officer, and shall use its best efforts to cause such key managers manager to continue to serve in their respective capacitiessuch capacity. In the event of the voluntary or involuntary termination of any the key manager for any reason, the Borrower shall, as soon as practicable, replace such individual with another qualified manager with comparable management skills and experience in the Borrower's industries ’s industry and reasonably satisfactory to the AgentsBank.

Appears in 1 contract

Samples: Credit Agreement (Universal Stainless & Alloy Products Inc)

AutoNDA by SimpleDocs

Key Management. The Borrower shall employ individuals in the key management positions of Chairman, Xxxxxxxx X. -------------- XxXxxxxx as President and Chief Financial Officer Executive Officer, and shall use its best efforts to cause such key managers manager to continue to serve in their respective capacitiessuch capacity. In the event of the voluntary or involuntary termination of any the key manager for any reason, the Borrower shall, as soon as practicable, replace such individual with another qualified manager with comparable management skills and experience in the Borrower's industries industry and reasonably satisfactory to the AgentsBank.

Appears in 1 contract

Samples: Credit Agreement (Universal Stainless & Alloy Products Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!