No Assignment; Resignation Sample Clauses

No Assignment; Resignation. Without the prior written consent of each Member and each other Manager, no Manager may at any time, voluntarily or involuntarily, transfer, assign, delegate, pledge, grant a security interest in or otherwise encumber any of its rights, duties or obligations under this Agreement (other than a security interest solely in any Unitranche Loan Fees payable to such Manager and a Permitted Pledge, provided that in no event will a secured creditor with respect to any such security interest be entitled to any rights or remedies herein, to enforce any terms hereof or to take any action on behalf of a Manager hereunder, whether pursuant to a power of attorney or otherwise), and any attempt to do so shall be void ab initio and of no force or effect. Notwithstanding the foregoing, a Manager may engage Affiliates or third parties to provide services to such Manager in connection with the performance of its duties and obligations hereunder, provided that no such engagement shall relieve the Manager of any of its duties or obligations hereunder, and any compensation to be paid to such Affiliate or third party shall be the sole responsibility of such Manager (and shall not be subject to reimbursement by the Company). Any Manager may resign at any time. Such resignation shall be made in writing delivered to the Anchor Members and the Credit Committee and shall take effect at the time specified therein or, if no time is specified therein, at the time of its receipt by the Anchor Members and the Credit Committee. The acceptance of a resignation shall not be necessary to make it effective, unless so expressly provided in the resignation.
Sample 1
AutoNDA by SimpleDocs

Related to No Assignment; Resignation

  • TERMINATION; NO ASSIGNMENT (a) This Agreement may be terminated by the Trust on behalf of the Fund at any time without payment of any penalty, by the Board of Trustees or by vote of a majority of the outstanding voting securities of the Fund, upon sixty (60) days’ written notice to the Advisor, and by the Advisor upon sixty (60) days’ written notice to the Fund. In the event of a termination, the Advisor shall cooperate in the orderly transfer of the Fund’s affairs and, at the request of the Board of Trustees, transfer any and all books and records of the Fund maintained by the Advisor on behalf of the Fund.

  • No Assignment to Borrower No such assignment shall be made to the Borrower or any of the Borrower’s Affiliates or Subsidiaries.

  • No Assignment; Amendments This Agreement shall terminate automatically in the event of its assignment or in the event that the Management Agreement shall have terminated for any reason. Any termination of this Agreement pursuant to Section 10 shall be without the payment of any penalty. This Agreement shall not be amended unless such amendment is approved by the vote of a majority of the outstanding voting securities of the Fund (provided that such shareholder approval is required by the 1940 Act and the rules and regulations thereunder, giving effect to any interpretations of the Securities and Exchange Commission and its staff) and by the vote, cast in person at a meeting called for the purpose of voting on such approval, of a majority of the Directors who are not interested persons of the Corporation, the Manager or Western.

  • No Assignment This Agreement is not assignable.

  • No Assignment of Rights The interest of the Executive in this Agreement or in any distribution to be made under this Agreement may not be assigned, pledged, alienated, anticipated, or otherwise encumbered (either at law or in equity) and shall not be subject to attachment, bankruptcy, garnishment, levy, execution, or other legal or equitable process. Any act in violation of this Section 13.2 shall be void.

  • No Assignment of Claims Executive affirms and warrants that he has made no assignment of any right or interest in any claim which he may have against any of the Employer Released Parties.

  • No Assignment to Borrowers No such assignment shall be made to the Borrowers or any of the Borrowers’ Affiliates or Subsidiaries.

  • NO ASSIGNMENT; SUCCESSORS Executive’s right to receive payments or benefits under this Agreement will not be assignable or transferable, whether by pledge, creation of a security interest or otherwise, whether voluntary, involuntary, by operation of law or otherwise, other than a transfer by will or by the laws of descent or distribution, and in the event of any attempted assignment or transfer contrary to this Section 13 the Company or Employer will have no liability to pay any amount so attempted to be assigned or transferred. This Agreement inures to the benefit of and is enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. This Agreement is binding upon and inures to the benefit of the Company and the Employer and their respective successors and assigns (including, without limitation, any company into or with which the Company may merge or consolidate).

  • No Assignment of Benefits The rights of any person to payments or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void.

  • No Assignment or Transfer Notwithstanding anything to the contrary in this Award Agreement, neither this Award Agreement nor any rights granted herein shall be assignable by the Participant. Neither this Award Agreement nor any rights granted herein shall be transferable by the Participant in any circumstances, except on the death of the Participant.

Time is Money Join Law Insider Premium to draft better contracts faster.