Management Continuity. To the Knowledge of the Company, none of the officers or managers of the Company have any current intention, plan or desire to terminate their respective employment or professional service agreements with the Company or to cease performing each of their respective duties as employees of the Company or professionals providing services to the Company.
Management Continuity. The Borrower acknowledges that the Lenders have made their determination to enter into this Agreement and the transactions contemplated herein on the basis of reliance upon the experience, expertise and reputations of Messrs. Hervxx X. Xxxxxxx xxx Thomxx X. Xxxxxxxx, Xx. xx experts in the ownership and asset management of Suite Hotels, and the Borrower will not suffer or permit its business to be without the active management of at least one such Person, provided that, in the event of death, incapacitation or dismissal of both Messrs. Hervxx X.
Management Continuity. As long as the Holder owns 5% or more of the Company’s voting shares then outstanding on Fully-Diluted basis during the Restricted Period, the Company shall use its best efforts to ensure, subject to Applicable Law, that (x) Xxxxxxx Xxxxxx remains as the Chief Executive Officer and President of the Company; (y) Xxxxxxx Xxxxxx alone, or together with Xxxxxxxx Xxxxxx and/or Xxxxx Xxxxxxxxxx (collectively, the “Major Shareholders”), retain the principal responsibility to appoint senior management officers of the Company, oversee their performance of the Company and the Subsidiaries, and develop and implement the business strategy and the expansion plan of the Company and the Subsidiaries.
Management Continuity. Except as set forth in Schedule 4.19, to the Knowledge of Seller, as of the Agreement Date none of the officers of Company or Company Subsidiary, or pathologists providing services to Company, Company Subsidiary or CPS, have notified Company or Company Subsidiary in writing of any current intention, plan or desire to terminate their respective employment or professional service agreements with Company, Company Subsidiary or CPS, or to cease performing each of their respective duties as employees of Company, Company Subsidiary or CPS or providing services to Company, Company Subsidiary or CPS.
Management Continuity. 16 7.6 Operations of Business Prior to Closing........................................................16 7.7
Management Continuity. The Borrower acknowledges that the Lenders have made their determination to enter into this Agreement and the transactions contemplated herein on the basis of reliance upon the experience, expertise and reputation of Alter as an expert in the ownership and asset management of Hotels, and, except with the written consent of the Super Majority Lenders, the Borrower will not cause, suffer or permit any material change in the management responsibilities, functions or activities of Alter with respect to Sunstone, the Borrower, the Operating Lessee or the Manager, provided, that, in the event of death or incapacitation of Alter, a replacement management team or teams shall be appointed for Sunstone, the Borrower, the Operating Lessee and the Manager, such team or teams to be (i) proposed by Sunstone, the Borrower, the Operating Lessee and the Manager (as applicable) within 120 days of the death or incapacity of Alter, and (ii) approved by the Super Majority Lenders in their sole and absolute discretion.
Management Continuity. Cause either Xx. Xxxxxxx X. Gellein, Jr. or Xx. Xxxxxxx X. Adler (or such other person as is acceptable to the Bank in its sole discretion) to act as Chief Executive Officer of Vistana (and of Development after the transfer described in Section 8.02 hereof), and prior to such transfer cause either Xx. Xxxxxxx X. Gellein, Jr. or Xx. Xxxxxxx X. Adler (or such other person as is acceptable to the Bank in its sole discretion) to act as Chief Executive Officer or to constitute a majority of directors of any corporation, other than Vistana, that controls (whether as sole general partner, managing partner or otherwise) Development.
Management Continuity. The Borrower acknowledges that the Lenders have made their determination to enter into this Agreement and the transactions contemplated herein on the basis of reliance upon the experience, expertise and reputation of Barrx Xxxxxxxxxx xx an expert in the ownership and asset management of Hotels, and the Borrower will not suffer or permit its business to be without the active management of such Person, provided that, in the event of his death, incapacitation or dismissal, replacement management shall be appointed by the Borrower, such person or persons to be (i) proposed by the Borrower within 270 days of the event referred to above, and (ii) approved by the Majority Lenders in their sole and absolute discretion.
Management Continuity. The terms of Employee’s existing Management Continuity Agreement shall continue to apply to him in his role as executive Chairman.
Management Continuity. During the period from the date of this Agreement and continuing until the earlier of the termination of this Agreement or the Closing, Seller shall cause the Company to continue to employ Daniel J. White in the same capacities and at the same compensaxxxx xx xx xxx date hereof; provided, however, that Daniel J. White's employment with the Company may be terminated xxx "XXXXX" xx xrovided in Section 8.1 of the Employment Agreement, dated July 31, 1998, between the Company and Daniel J. White.
