Common use of Removal, Resignation and Filling of Vacancy of Officers Clause in Contracts

Removal, Resignation and Filling of Vacancy of Officers. Subject to the terms of any applicable employment agreement to which the Partnership or its Subsidiary is a party, the General Partners may remove any Officer, for any reason or for no reason, at any time. Any Officer may resign at any time by giving written notice to the Partnership, and such resignation shall take effect at the date of the receipt of that notice or any later time specified in that notice; provided that, unless otherwise specified in that notice, the acceptance of the resignation shall not be necessary to make it effective. Any such resignation shall be without prejudice to the rights, if any, of the Partnership or such Officer under this Agreement. A vacancy in any office because of death, resignation, removal or otherwise shall be filled in the manner prescribed in this Agreement for regular appointments to that office.

Removal, Resignation and Filling of Vacancy of Officers. Subject to the terms of any applicable employment agreement to which the Partnership Company or any of its Subsidiary Subsidiaries is a party, the General Partners Board may remove any Officer, for any reason or for no reason, at any time. Any Officer may resign at any time by giving written notice to the PartnershipCompany, and such resignation shall take effect at the date of the receipt of that notice or any later time specified in that notice; provided that, unless otherwise specified in that notice, the acceptance of the resignation shall not be necessary to make it effective. Any such resignation shall be without prejudice to the rights, if any, of the Partnership Company or such Officer under this Agreement. A vacancy in any office because of death, resignation, removal or otherwise shall be filled in the manner prescribed in this Agreement for regular appointments to that office.