RESIGNATIONS TENDERED Sample Clauses

RESIGNATIONS TENDERED. Each designee shall have signed and delivered to Summit, and Summit shall have provided copies to OrCAD, of that designee's resignation from the Board of Directors of Summit, effective immediately prior to the vote of the shareholders of Summit at the first annual meeting of Summit following the Effective Time. Further, if any member of the Board of Summit as of the date of the Agreement is not a Summit designee and has not already resigned from the Summit Board, Summit shall have received, and delivered copies to OrCAD of, the resignations from the Summit Board of Directors of each such member, to be effective on or before the Effective Time. At Closing, the following steps shall have taken place: SUMMIT NOMINATIONS: The President and Chief Executive Officer of Summit shall have nominated two outside members of the post-Closing Summit Board of Directors to serve on the Board Nominating Committee and two members of the post-Closing Summit Board of Directors to serve on the Merger Oversight Committee.
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Related to RESIGNATIONS TENDERED

  • Voluntary Resignation Discharge for just cause.

  • Resignation from Positions Upon termination of the Executive’s employment with the Company for any reason, the Executive shall, as may be requested by the Company, resign from any position he then holds as an officer, director or fiduciary of the Company or any Company-related entity. In furtherance of the foregoing, the Executive shall execute and deliver to the Company any letters, documents and other instruments necessary or appropriate to effect such resignation.

  • Director Resignations The Company shall use its reasonable best efforts to cause to be delivered to Parent resignations executed by each director of the Company in office as of immediately prior to the Effective Time and effective upon the Effective Time.

  • Resignations Any Officer of the Company may resign at any time by giving notice either in writing or by electronic transmission to the Company. A resignation shall take effect immediately upon receipt of the notice, or at such other time as is specified in the notice. Unless required by the notice, acceptance of the resignation is not needed to make it effective.

  • Resignation; Removal Any Officer may resign as such at any time. Such resignation shall be made in writing and shall take effect at the time specified therein, or if no time be specified, at the time of its receipt by the Company Board. The acceptance of a resignation shall not be necessary to make it effective, unless expressly so provided in the resignation. Any Officer may be removed as such, either with or without cause, at any time by the Company Board. Designation of an Officer shall not of itself create any contractual or employment rights.