Voluntary Relinquishment Sample Clauses

Voluntary Relinquishment. The Executive hereby voluntarily hands over and otherwise relinquishes, and the Company accepts his relinquishment of, his position as Executive Chairman of the Company and all positions as an employee and officer of the Company and its subsidiaries (the “Company Group”), and his position as a Director on the Board and a director of any of the Company’s subsidiaries, including all committees thereof effective as of the Effective Date and without the need for any other action. The Employment Arrangement will be terminated and have no further effect on the Effective Date, except as set forth in this Agreement. The Effective Date will be the Executive’s final day of employment with the Company Group for benefit plan and all other purposes. The parties agree that the Executive’s relinquishment of his employment is not a termination of the Executive by the Company for purposes of any of the Executive’s arrangements or otherwise.
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Voluntary Relinquishment. THE CONTRACTOR may at any time effect partial relinquishments of the Contract Area provided that it has performed the obligations contracted by virtue of this Contract. If these voluntary relinquishments are effected during the Exploration Period they will be counted for the purposes of the mandatory relinquishment of areas.
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Voluntary Relinquishment. Except for that provided for in 0of this Agreement, at any time during contractual performance, the Contractor can make partial relinquishment of the Allocated Area, provided that the fulfillment of the obligations, commitments and services of its responsibility is NOT affected.
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Voluntary Relinquishment. The Concessionaire may, at any time during the Exploration Phase, voluntarily relinquish areas forming part of the Concession Area.
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Voluntary Relinquishment. At any time THE EVALUATOR may make partial relinquishment of the Technical Evaluation Area, and this shall not reduce the obligations assumed under this contract according to the Technical Evaluation Program. Such voluntary relinquishment shall not be of less than twenty percent (20%) of the Evaluation Area and cannot be done with a frequency of less than six
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Voluntary Relinquishment. THE EVALUATOR may at any time make partial relinquishments of the Technical Evaluation Area without reducing the obligations derived from this contract. Such voluntary relinquishments shall not be smaller than the 20% of the Technical Evaluation Area and shall not be made within period shorter than six (6) months, except what is provided in Clause 4 (paragraph 4.1).
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Voluntary Relinquishment. Contractor, on giving to Competent Body not less than ninety (90) days notice in writing may, at any time during the Exploration Licence term, voluntarily: 5.1.1 relinquish its rights and be relieved of its obligations in respect of the whole of the Contract Area, provided that its Minimum Work and Expenditures obligations under Article 4 hereunder in respect of the relevant Exploration Period have been fulfilled; 5.1.2 relinquish its rights and be relieved of its obligations in respect of any part of the Contract Area provided, however, that no relinquishment by Contractor of its rights over any such part of the Contract Area shall relieve Contractor of its obligation to satisfy the Minimum Work and Expenditure obligations referred to in Article 4 hereof.
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Voluntary Relinquishment. The Concessionaire may, at any time during the Exploration Phase, voluntarily relinquish areas forming part of the Concession Area. Voluntary relinquishments shall be communicated in writing. Voluntary relinquishments shall not exempt the Concessionaire from the obligation to comply with the Minimum Exploration Program. Once the Exploration Phase is completed, the Concessionaire may only keep as Concession Area the Development Area(s).
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Voluntary Relinquishment. Contractor may relinquish part or all of the Contract Area by giving prior written notice to CNPA if the conditions of this Agreement and the Petroleum Regulations have been met to the satisfaction of the CNPA (including the Minimum Work Obligations). Any area so relinquished will then be credited against the part of the Contract Area. if any, which Contractor is next required to relinquish under Article 5.1.
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Related to Voluntary Relinquishment

  • Voluntary Reassignment If a vacancy occurs in the same or other department or division outside the unit member’s normal assignment, the unit member may submit a written request to the College President to be reassigned. Such requests, if received at least one (1) week prior to the closing date for application for an advertised position, shall be considered before those of other applicants.

  • Voluntary Reduction The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.

  • Involuntary Reassignment In the absence of volunteers to fill a vacancy internally, the college may administratively reassign from any overstaffed area that qualified faculty member with the lowest seniority.

  • Voluntary Resignation Discharge for just cause.

  • Voluntary Reductions The Borrower shall have the right to terminate or permanently reduce the unused portion of the Revolving Committed Amount at any time or from time to time upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations would exceed the Revolving Committed Amount then in effect.

  • No Creation of a Partnership or Exclusive Purchase Right Nothing contained in this Agreement, and no action taken pursuant hereto shall be deemed to constitute the relationship created hereby between the Note Holders as a partnership, association, joint venture or other entity. No Note Holder shall have any obligation whatsoever to offer to any other Note Holder the opportunity to purchase a participation interest in any future loans originated by such Note Holder or its Affiliates and if any Note Holder chooses to offer to any other Note Holder the opportunity to purchase a participation interest in any future mortgage loans originated by such Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate as such Note Holder chooses, in its sole and absolute discretion. No Note Holder shall have any obligation whatsoever to purchase from any other Note Holder a participation interest in any future loans originated by such Note Holder or its Affiliates.

  • Voluntary Agreement Company has carefully read this Agreement and each of the other Transaction Documents and has asked any questions needed for Company to understand the terms, consequences and binding effect of this Agreement and each of the other Transaction Documents and fully understand them. Company has had the opportunity to seek the advice of an attorney of Company’s choosing, or has waived the right to do so, and is executing this Agreement and each of the other Transaction Documents voluntarily and without any duress or undue influence by Investor or anyone else.

  • Voluntary Assent You affirm that no other promises or agreements of any kind have been made to or with you by any person or entity whatsoever to cause you to sign this letter agreement, and that you fully understand the meaning and intent of this letter agreement. You state and represent that you have had an opportunity to fully discuss and review the terms of this letter agreement with an attorney. You further state and represent that you have carefully read this letter agreement, understand the contents herein, freely and voluntarily assent to all of the terms and conditions hereof and sign your name of your own free act.

  • Voluntary Resignation without Good Reason The Executive may voluntarily terminate employment without Good Reason upon 30 days’ prior written notice to the Company. In such event, after the effective date of such termination, no payments shall be due under this Agreement, except that the Executive shall be entitled to any Accrued Obligations.

  • Right of Contribution Each Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Guarantor’s right of contribution shall be subject to the terms and conditions of Section 2.3. The provisions of this Section 2.2 shall in no respect limit the obligations and liabilities of any Guarantor to the Administrative Agent and the Lenders, and each Guarantor shall remain liable to the Administrative Agent and the Lenders for the full amount guaranteed by such Guarantor hereunder.

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