Common use of Resignation; Successors Clause in Contracts

Resignation; Successors. The Indemnitor Representative, or any ----------------------- successor hereafter appointed, may resign and shall be discharged of his duties hereunder upon the appointment of a successor Indemnitor Representative as hereinafter provided. In case of such resignation, or in the event of the death or inability to act of the Indemnitor Representative, a successor shall be named from among the Shareholders by a majority of the Shareholders. Each such successor Indemnitor Representative shall have all the power, authority, rights and privileges hereby conferred upon the original Indemnitor Representative, and the term "Indemnitor Representative" as used herein shall be deemed to include such successor Indemnitor Representative.

Resignation; Successors. The Indemnitor Owners' Representative, or any successor ----------------------- successor hereafter appointed, may resign and shall be discharged of his duties hereunder upon the appointment of a successor Indemnitor Owners' Representative as hereinafter provided. In case of such resignation, or in the event of the death or inability to act of the Indemnitor Owners' Representative, a successor shall be named from among the Shareholders Owners by a majority of the Shareholdersmembers of the Board of Directors of the Company who served on such board prior to the Merger. Each such successor Indemnitor Owners' Representative shall have all the power, authority, rights and privileges hereby conferred upon the original Indemnitor Owners' Representative, and the term "Indemnitor Owners' Representative" as used herein shall be deemed to include such successor Indemnitor Owners' Representative.

Resignation; Successors. The Indemnitor Representative, or any successor ----------------------- successor hereafter appointed, may resign and shall be discharged of his duties hereunder upon the appointment of a successor Indemnitor Representative as hereinafter provided. In case of such resignation, or in the event of the death or inability to act of the Indemnitor Representative, a successor shall be named from among the Shareholders Members by a majority in interest of the ShareholdersMembers. Each such successor Indemnitor Representative shall have all the power, authority, rights and privileges hereby conferred upon the original Indemnitor Representative, and the term "Indemnitor Representative" as used herein shall be deemed to include such successor Indemnitor Representative.