Removal/Resignation of Directors Sample Clauses

Removal/Resignation of Directors. The Company and the Shareholders shall not remove any nominee Director. Each Party entitled to nominate a Director may require the removal of such nominee at any time and shall be entitled, to nominate another Person as the nominee Director in place of the Person removed. In the event of the resignation, retirement or vacation of office of the Director nominated by any Party, such Party shall be entitled to nominate another Person as Director in place of such Director and the Shareholders shall exercise their rights in such manner so as to cause the appointment of such Person as nominee Director to the Board. In the event of the resignation, retirement or vacation of office of an independent director, the Parties entitled to nominate such director shall take all steps to nominate another person as an independent director in accordance with Clause 11.1. hereinabove.
Sample 1
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Removal/Resignation of Directors. The Investor and GA may require the removal of their respective Nominee Directors at any time, with or without cause, and shall be entitled to nominate another person as a Director in place of the Director so removed, and each shareholder of the Company shall exercise its voting rights in such manner so as to cause the removal of the existing Nominee Director and appointment of another Nominee Director as soon as practicable. In the event of the resignation, retirement or vacation of office by a Director nominated by GA or the Investor (as the case may be), the relevant Shareholder shall be entitled to nominate another individual as a Director in place of such Director and the shareholders of the Company shall exercise their rights in such manner so as to cause the appointment of the new nominee as aforesaid. Such individual nominated by GA or the Investor (as the case may be) shall be appointed by the Board as a Director within 15 (fifteen) days from the date on which he or she is nominated by GA or the Investor (as the case may be), and in case no Board Meeting is scheduled to be held during such period, then such individual shall be immediately appointed as a Director by a resolution of the Board passed by circulation. Notwithstanding anything to the contrary contained herein, a Nominee Director may only be removed by his or her appointing Shareholder and no Nominee Director shall be removed except in accordance with this Clause 3.6.
Sample 1
Removal/Resignation of Directors. The relevant Investors may at any time require the removal of their respective Nominee Directors and each Investor shall be entitled to nominate another person as its respective Nominee Director in place of any Nominee Director so removed. In the event of the resignation, retirement or vacation of office of any such Nominee Director, the concerned Investor shall be entitled, subject to Section 2.03, to nominate another Person as its Nominee Director in place of such resigned/retired/terminated Nominee Director and the Shareholders (which are Parties) shall, ensure, to the fullest extent of all rights and powers available to them, that such nominee is promptly appointed as a Director.
Sample 1

Related to Removal/Resignation of Directors

  • Election of Directors Elections of directors need not be by written ballot unless the bylaws of the Corporation shall so provide.

  • Appointment of Directors Immediately upon the Effective Time, Parent shall, in accordance with Section 2.3(d), accept the resignations and cause the appointments of those officers and directors of Parent identified in Exhibit C hereto, subject to any notice and waiting period requirements of federal law. At the first annual meeting of Parent’s stockholders and thereafter, the election of members of Parent’s Board of Directors shall be accomplished in accordance with the by-laws of Parent.

  • Remuneration of Directors The directors are entitled to the remuneration for acting as directors, if any, as the directors may from time to time determine. If the directors so decide, the remuneration of the directors, if any, will be determined by the shareholders. That remuneration may be in addition to any salary or other remuneration paid to any officer or employee of the Company as such, who is also a director.

  • Resignation of Trustee Any Trustee hereunder may resign by a notice in writing delivered to the Grantor, if the Grantor is then living, and, after the Grantor’s death, to all current Beneficiaries of the Trust.

  • Notification of Vacancies A laid off employee shall be notified by certified mail of an appropriate vacancy, sent to the employee’s address on file in the office of the Executive Director for Human Resources Management. An employee’s failure to respond affirmatively in writing within five calendar days after receipt of the Employer’s letter shall cause loss of recall rights.

  • Deemed Resignation Upon termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its subsidiaries.

  • AUTOMATIC RESIGNATION a. If an employee fails to report to his/her worksite, and has given no notification to his/her appointing authority or direct supervisor, the employee shall be considered absent without leave. If an employee is absent without leave for five (5) consecutive workdays, such employee shall be considered to have voluntarily resigned from County service. A notice of automatic resignation shall be sent by certified mail to the employee's last known address. The last known address shall be deemed to be that address which is within the personnel file of the employee within the department to which he/she is assigned.

  • Resignation and Removal The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice of resignation to the Master Servicer, such resignation to be effective upon the appointment of a successor trustee. Upon receiving such notice of resignation, the Master Servicer shall promptly appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning entity and one copy to its successor. If no successor trustee shall have been appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.07 and shall fail to resign after written request for its resignation by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or an order for relief shall have been entered in any bankruptcy or insolvency proceeding with respect to such entity, or a receiver of such entity or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of the property or affairs of the Trustee for the purpose of rehabilitation, conversion or liquidation, or the Master Servicer shall deem it necessary in order to change the situs of the Trust Estate for state tax reasons, then the Master Servicer shall remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Holders of Certificates evidencing in the aggregate not less than 51% of the Voting Interests represented by all Certificates (except that any Certificate registered in the name of the Seller, the Master Servicer or any affiliate thereof will not be taken into account in determining whether the requisite Voting Interests has been obtained) may at any time remove the Trustee and appoint a successor by written instrument or instruments, in triplicate, signed by such holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered to the Master Servicer, one complete set of which shall be delivered to the entity or entities so removed and one complete set of which shall be delivered to the successor so appointed. Any resignation or removal of the Trustee and appointment of a successor pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor as provided in Section 8.09.

  • Resignation and Retirement Any Trustee may resign his trust or retire as a Trustee, by written instrument signed by him and delivered to the other Trustees or to any officer of the Trust, and such resignation or retirement shall take effect upon such delivery or upon such later date as is specified in such instrument.

  • Resignation of Representative A Representative may resign at any time by giving notice to the Company and all of the Holders of the Notes at least thirty (30) days before such resignation is to become eRective. Upon the resignation of a Representative, a replacement shall be selected by the affirmative vote of Holders holding a majority of the Notes, measured by outstanding principal amount. If such Holders have not selected a replacement Representative within sixty (60) days following the eRective date of the resignation, then Portal may, at any time, by giving notice to the Company and all of the Holders, designate a replacement Representative who shall not be related to or affiliated with Portal or the Company.

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