Upon Election. If elected, the employee shall be granted leave of absence without pay for their term in office up to a maximum of six (6) years for election under 20.03(a) above, and up to a maximum of three (3) years for election under 20.03(b) above. Beyond the maximum term of leave herein, the employee shall be deemed to have terminated their employment with the University.
Upon Election each director nominated by the Shareholders shall undertake to act in the best interest of the Company and to comply with the provisions set forth in this Agreement.
Upon Election. If the person so becoming entitled elects to be registered, they will deliver or send to the Company a notice in writing signed by them stating that he or she so elects. If he or she elects to have another person registered they will testify their election by executing to that person a transfer of the Share. All the limitations, restrictions, and provisions of these regulations relating to the right to transfer and the registration of transfers of Shares will be applicable to any such notice or transfer as aforesaid as if the death or bankruptcy of the member had not occurred and the notice or transfer were a transfer signed by that member. Entitlement to dividends and rights Where the registered holder of any Share dies or becomes bankrupt, their personal representative or the assignee of their estate, as the case may be, will, on the production of such evidence as may from time to time be properly required by the directors in that behalf, be entitled to the same dividends and other advantages, and to the same rights (whether in relation to meetings of the Company, or to voting, or otherwise) as the registered holder would have been entitled to if he or she had not died or become bankrupt; and where 2 or more persons are jointly entitled to any Share in consequence of the death of the registered holder, they will for the purposes of these regulations be deemed to be joint holders of the Share. Calls on Shares Power to make call Subject to the terms of issue, the board may by resolution make calls on the shareholders in respect of any money unpaid on their Shares which is not (by the terms of issue of the Shares) made payable at fixed times. Each shareholder must (subject to receiving at least 14 days' notice specifying the time and place of payment) pay to the Company (at the time and place specified) the amount that was called on that shareholder's Shares. A call may be revoked or postponed as the board resolves. Subject to clause 16.6 and to the terms of issue of any class of Shares, a call, postponement, or revocation applies equally to all the shareholders of the class equally. Time call made Unless the board resolves to the contrary, a call is deemed to be made at the time when the resolution of the board authorising the call was passed. The board may resolve that a call is required to be paid by instalments. Interest on calls in arrears If a sum which is called in respect of a Share is not paid before or on the day which is appointed for payment of ...
Upon Election each nominee would hold office until the earlier of (x) the Effective Time or
Upon Election recapture shall occur ratably over a thirty-six (36) month period (i.e., every month the initial quota-share percentage reduces 2.78% times the initial quota-share percentage). It is irrevocable once elected.
