Common use of Removal and Resignation Clause in Contracts

Removal and Resignation. Any officer or agent elected by the Board of Directors may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Any officer may resign at any time by giving written notice to the Corporation. Any such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

Appears in 4 contracts

Samples: Merger Agreement (Supermedia Inc.), Merger Agreement (DEX ONE Corp), Agreement and Plan of Merger (Supermedia Inc.)

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Removal and Resignation. Any officer Officer or agent elected or appointed by the Board of Directors Managers may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation would be served therebyManagers with or without cause, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Election or appointment of an Officer or agent shall not of itself create contract rights. Any officer Officer of the Company may resign at any time by giving written notice to the CorporationBoard of Managers. Any such resignation shall take effect at the date of the receipt of such notice or at any later after time specified therein, and unless otherwise or, if the time is not specified therein, upon its acceptance by the acceptance Board of such resignation shall not be necessary to make it effectiveManagers.

Appears in 4 contracts

Samples: Operating Agreement (Liquidmetal Technologies Inc), Operating Agreement (Liquidmetal Technologies Inc), Operating Agreement (Liquidmetal Technologies Inc)

Removal and Resignation. Any officer or agent elected by of the Board of Directors Corporation may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation would be served thereby, but such removal shall be with or without prejudice to the contract rights, if any, of the person so removedcause at any time. Any officer may resign his office at any time by giving delivering a written notice to the CorporationBoard of Directors, the President, the Secretary, or any Assistant Secretary. Any Unless otherwise specified therein, such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.upon delivery

Appears in 2 contracts

Samples: Scudder New Europe Fund Inc, Kemper New Europe Fund Inc

Removal and Resignation. Any officer or agent elected by the Board of Directors may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation corporation would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Any An officer may resign at any time by giving written delivering notice to the Corporation. Any such Such resignation shall take effect at the date of the receipt of is effective when such notice or at any is delivered unless such notice specifies a later time specified thereineffective date. An officer's resignation does not affect the Corporation's contract rights, and unless otherwise specified thereinif any, with the acceptance of such resignation shall not be necessary to make it effectiveofficer.

Appears in 2 contracts

Samples: Option Holder Acknowledgement Agreement (Goodys Family Clothing Inc /Tn), Option Holder Acknowledgement Agreement (Goodys Family Clothing Inc /Tn)

Removal and Resignation. Any officer or agent elected by the Board of Directors may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation would will be served thereby, but provided, however, that such removal shall be without prejudice to the contract rights, if any, of the person so removed. Any officer may resign at any time by giving written notice to the Board of Directors, to the President or to the Secretary of the Corporation. Any such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein; and, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (CMS Bancorp, Inc.), Agreement and Plan of Merger (Customers Bancorp, Inc.)

Removal and Resignation. Any officer or agent elected by the Board of Directors may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation would be served therebyat any time, with or without cause, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Any Election or appointment of an officer or agent shall not of itself create contract rights. An officer or agent may resign at any time by giving written notice of resignation to the Corporation. Any such resignation shall take effect at the date Secretary of the receipt of such corporation. The resignation is effective when the notice or at any is received by the corporation unless the notice specifies a later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effectiveeffective date.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (First State Bancorporation), Plan and Agreement of Merger (Cachestream Corp)

Removal and Resignation. Any officer or agent elected appointed by the Board board of Directors directors may be removed by the Board board of Directors whenever directors whenever, in its the judgment of the board of directors, the best interests of the Corporation would corporation will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Any officer may resign at any time by giving written notice to the Corporationcorporation. Any such resignation shall take effect at the date of the receipt of such notice or at any a later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

Appears in 1 contract

Samples: Employment Agreement (Promedco Management Co)

Removal and Resignation. Any officer or agent elected or appointed by the Board of Directors may be removed removed, with or without cause, by the affirmative vote of a majority of the Board of Directors whenever whenever, in its judgment judgment, the best interests of the Corporation would shall be served thereby, but such removal shall be without prejudice to the contract contractual rights, if any, of the person so removed. Any officer may resign at any time by giving written notice to the Corporation. Any such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

Appears in 1 contract

Samples: Earn Up Agreement (Queen Sand Resources Inc)

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Removal and Resignation. Any officer or agent elected by Whenever in the judgment of the Board of Directors the best interest of the Corporation will be served thereby, any officer may be removed from office by the vote of a majority of the members of the Board of Directors whenever in its judgment the best interests of the Corporation would be served thereby, but at any regular meeting or at a special meeting called for such removal shall be without prejudice to the contract rights, if any, of the person so removedpurpose. Any officer may resign his office at any time by giving delivering a written notice resignation to the CorporationBoard of Directors, the President, the Secretary, or any Assistant Secretary. Any Unless otherwise specified therein, such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effectiveupon delivery.

Appears in 1 contract

Samples: Cummer Moyers Funds Inc

Removal and Resignation. Any Whenever in the Board's judgment the best interest of the Corporation will be served thereby, any officer or agent elected may be removed from office by the vote of a majority of the members of the Board of Directors may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation would be served thereby, but given at a regular meeting or any special meeting called for such removal shall be without prejudice to the contract rights, if any, of the person so removedpurpose. Any officer may resign his office at any time by giving delivering a written notice resignation to the CorporationBoard of Directors, the President, the Secretary, or any Assistant Secretary. Any Unless otherwise specified therein, such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.upon delivery. [MGCL Sec. 2-413]

Appears in 1 contract

Samples: Scudder New Europe Fund Inc

Removal and Resignation. Any officer or agent elected chosen by the Board of Directors may be removed at any time, with or without cause, by the affirmative vote of a majority of all the members of the Board of Directors. Any officer chosen by the Board of Directors whenever in its judgment the best interests of the Corporation would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Any officer may resign at any time by giving written notice of said resignation to the Corporation. Any Unless a different time is specified therein, such resignation shall take effect at be effective upon its receipt by the date Chairman of the receipt of such notice or at any later time specified therein, and unless otherwise specified thereinBoard, the acceptance President, the Secretary or the Board of such resignation shall not be necessary to make it effectiveDirectors.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Provena Foods Inc)

Removal and Resignation. Any officer or agent elected or appointed by the Board board of Directors directors may be removed with or without cause by the Board affirmative vote of Directors whenever in its judgment the best interests a majority of the Corporation would be served therebyboard of directors, but such removal shall be without prejudice to the contract contractual rights, if any, of the person so removed. Any officer may resign at any time by giving written notice to the Corporationcorporation. Any such resignation shall take effect at the date of the receipt of such notice or at any later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

Appears in 1 contract

Samples: Rights Agreement (Idearc Inc.)

Removal and Resignation. Any officer or agent elected by the The Board of Directors may be removed remove an officer, either with or without cause, at any time, by the Board an affirmative vote of Directors whenever in its judgment the best interests two-thirds (2/3) of the Corporation would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removedDirectors currently in office. Any An officer may resign at any time by giving written notice to the Corporation. Any such Board of Directors, the resignation shall take taking effect at the date of the on receipt of such notice or at any a later time date as specified therein, and unless otherwise specified therein, in the acceptance of such resignation shall not be necessary to make it effectivenotice.

Appears in 1 contract

Samples: Charter School Contract

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