Vacation of Office. (a) The office of a Director shall be vacated, ipso facto, upon his death, or if he be found lunatic or become of unsound mind, or if he becomes bankrupt (or if the Director is a company, upon its winding-up). (b) The office of a Director shall be vacated by his written resignation. Such resignation shall become effective on the date fixed therein or upon the delivery to the Company, whichever is later.
Appears in 3 contracts
Samples: Subscription Agreement (Motus GI Holdings, Inc.), Subscription Agreement (Motus GI Holdings, Inc.), Credit Line Agreement (Check-Cap LTD)
Vacation of Office. (a) 47.1 The office of a Director shall be vacated, ipso facto, upon his death, or if he be found lunatic or become of unsound mind, or if he becomes bankrupt (or bankrupt, or, if the Director is a company, upon its winding-up).
(b) 47.2 The office of a Director shall may be vacated by his written resignation. Such resignation shall become effective on the date fixed therein therein, or upon the delivery thereof to the Company, whichever is later.
Appears in 1 contract
Vacation of Office. (a) 49.1. The office of a Director shall be vacated, ipso facto, upon his death, or if he is found to be found lunatic or become of unsound mindlegally incompetent, or if he becomes bankrupt (or became bankrupt, if the Director is a company, upon its winding-up), if he is prevented by applicable law from serving as a Director, or if his directorship expires pursuant to these Articles and/or applicable law.
(b) 49.2. The office of a the Director shall be vacated by his written resignation. Such resignation shall become effective on the date fixed therein therein, or upon the delivery thereof to the Company, whichever is later.
Appears in 1 contract
Vacation of Office. (a) The office of a Director shall be vacated, ipso facto, upon his death, or if he be found lunatic or become of unsound mind, or if he becomes bankrupt (or become bankrupt, or, if the Director is a company, upon its winding-up).
(b) The office of a Director shall be vacated by his written resignation. Such resignation shall become effective on the date fixed therein therein, or upon the delivery thereof to the Company, whichever is later.
Appears in 1 contract
