Common use of Removal of Executive Officers Clause in Contracts

Removal of Executive Officers. (a) The CEO may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (b) Any Executive Officer (other than the CEO), or any other officer or agent may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (c) Notwithstanding anything to the contrary in Sections 6.7(xii), 7.3(a) and 7.3(b), either Designating Partner may, by action of two or more of its Representatives, remove from office any Executive Officer who takes or causes the Partnership to take any action described in Section 6.7 that has not been approved by Partnership Governance Committee Action as contemplated by Section 6.7. Any such removal shall be effected by delivery by such Representatives of written notice of such removal (i) to such Executive Officer and (ii) to the Representatives of the other Designating Partner; provided that such removal shall not be effective if such action is rescinded or cured (to the reasonable satisfaction of the Designating Partner who has delivered such notice) promptly after such notice is delivered.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Millennium Chemicals Inc), Limited Partnership Agreement (Millennium Chemicals Inc), Limited Partnership Agreement (Equistar Chemicals Lp)

AutoNDA by SimpleDocs

Removal of Executive Officers. (a) The CEO may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii)6.6, with or without cause, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (b) Any Executive Officer (other than the CEO), or any other officer or agent may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, upon the recommendation of the CEO, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (c) Notwithstanding anything to the contrary in Sections 6.7(xii), 7.3(a) and 7.3(b), either Designating General Partner may, by action of two or more of its Representatives, remove from office any Executive Officer who takes or causes the Partnership to take any action described in Section 6.7 that has not been approved by Partnership Governance Committee Action two or more Representatives of Lyondell GP and two or more Representatives of Millennium GP as contemplated by Section 6.7. Any such removal shall be effected by delivery by such Representatives of written notice of such removal (i) to such Executive Officer and (ii) to the Representatives of the other Designating General Partner; provided that such removal shall not be effective if such action is rescinded or cured (to the reasonable satisfaction of the Designating General Partner who has delivered such notice) promptly after such notice is delivered.

Appears in 3 contracts

Samples: Limited Partnership Agreement (Millennium Chemicals Inc), Limited Partnership Agreement (Lyondell Chemical Co), Limited Partnership Agreement (Equistar Chemicals Lp)

Removal of Executive Officers. (a) The CEO may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii)6.6, with or without cause, whenever ----------- in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (b) Any Executive Officer (other than the CEO), or any other officer or agent may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, upon the ---------------- recommendation of the CEO, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (c) Notwithstanding anything to the contrary in Sections 6.7(xii), ----------------- 7.3(a) and 7.3(b), either Designating any General Partner may, by action of two or more of its ----------------- Representatives, remove from office any Executive Officer who takes or causes the Partnership to take any action described in Section 6.7 that has not been ----------- approved by Partnership Governance Committee Action two or more Representatives of Lyondell GP, two or more Representatives of Millennium GP and two or more Representatives of Occidental GP as contemplated by Section 6.7. Any such removal shall be effected by ----------- delivery by such Representatives of written notice of such removal (i) to such Executive Officer and (ii) to the Representatives of the other Designating PartnerGeneral Partners; provided that such removal shall not be effective if such action is rescinded or cured (to the reasonable satisfaction of the Designating General Partner who has delivered such notice) promptly after such notice is delivered.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Lyondell Chemical Co), Limited Partnership Agreement (Equistar Chemicals Lp)

Removal of Executive Officers. (a) The CEO may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii)6.6, with or without cause, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (b) Any Executive Officer (other than the CEO), or any other officer or agent may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, upon the recommendation of the CEO, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (c) Notwithstanding anything to the contrary in Sections 6.7(xii), 7.3(a) and 7.3(b), either Designating any General Partner may, by action of two or more of its Representatives, remove from office any Executive Officer who takes or causes the Partnership to take any action described in Section 6.7 that has not been approved by Partnership Governance Committee Action two or more Representatives of Lyondell GP, two or more Representatives of Millennium GP and two or more Representatives of Occidental GP as contemplated by Section 6.7. Any such removal shall be effected by delivery by such Representatives of written notice of such removal (i) to such Executive Officer and (ii) to the Representatives of the other Designating PartnerGeneral Partners; provided that such removal shall not be effective if such action is rescinded or cured (to the reasonable satisfaction of the Designating General Partner who has delivered such notice) promptly after such notice is delivered.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Occidental Petroleum Corp /De/), Limited Partnership Agreement (Lyondell Petrochemical Co)

Removal of Executive Officers. (a) The CEO may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii)6.6, with or without cause, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (b) Any Executive Officer (other than the CEO), or any other officer or agent may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, upon the recommendation of the CEO, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (c) Notwithstanding anything to the contrary in Sections 6.7(xii), 7.3(a) and 7.3(b), either Designating General Partner may, by action of two or more of its Representatives, remove from office any Executive Officer who takes or causes the Partnership to take any action described in Section 6.7 that has not been approved by Partnership Governance Committee Action two or more Representatives of Lyondell GP and two or more Representatives of Millennium GP as contemplated by Section 6.7. Any such removal shall be effected by delivery by such Representatives of written notice of such removal (i) to such Executive Officer and (ii) to the Representatives of the other Designating General Partner; provided that such removal shall not be effective if such action is rescinded or cured (to the reasonable satisfaction of the Designating General Partner who has delivered such notice) promptly after such notice is delivered.

Appears in 1 contract

Samples: Limited Partnership Agreement (Lyondell Petrochemical Co)

AutoNDA by SimpleDocs

Removal of Executive Officers. (a) The CEO may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (b) Any Executive Officer (other than the CEO), or any other officer Officer or agent may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (c) Notwithstanding anything to the contrary in Sections 6.7(xii), 7.3(a) and 7.3(b), either Designating Partner Xxxxxx may, by action of two or more of its Representatives, remove from office any Executive Officer who takes or causes the Partnership to take any action described in Section 6.7 that has not been approved by Partnership Governance Committee Action as contemplated by Section 6.7. Any such removal shall be effected by delivery by such Representatives of written notice of such removal (i) to such Executive Officer and (ii) to the Representatives of the other Designating Partner; provided that such removal shall not be effective if such action is rescinded or cured (to the reasonable satisfaction of the Designating Partner who has delivered such notice) promptly after such notice is delivered.

Appears in 1 contract

Samples: Limited Partnership Agreement (LyondellBasell F&F Holdco, LLC)

Removal of Executive Officers. (a) The CEO may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii)6.6, with or without cause, whenever ----------- in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (b) Any Executive Officer (other than the CEO), or any other officer or agent may be removed, at any time, by Partnership Governance Committee Action taken pursuant to Section 6.7(xii), with or without cause, upon the ---------------- recommendation of the CEO, whenever in the judgment of the Partnership Governance Committee the best interests of the Partnership would be served thereby. (c) Notwithstanding anything to the contrary in Sections 6.7(xii), 7.3(a) ------------------------- and 7.3(b), either Designating any General Partner may, by action of two or more of its ---------- Representatives, remove from office any Executive Officer who takes or causes the Partnership to take any action described in Section 6.7 that has not been ----------- approved by Partnership Governance Committee Action two or more Representatives of Lyondell GP, two or more Representatives of Millennium GP and two or more Representatives of Occidental GP as contemplated by Section 6.7. Any such removal shall be effected by ----------- delivery by such Representatives of written notice of such removal (i) to such Executive Officer and (ii) to the Representatives of the other Designating PartnerGeneral Partners; provided that such removal shall not be effective if such action is rescinded or ------------- cured (to the reasonable satisfaction of the Designating General Partner who has delivered such notice) promptly after such notice is delivered.

Appears in 1 contract

Samples: Limited Partnership Agreement (Equistar Funding Corp)

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