Qualified Successor definition

Qualified Successor means a person who is entitled to ownership of an Option upon the death of an Optionee, pursuant to a will or the applicable laws of descent and distribution upon death;

Qualified Successor. As defined in Section 40.3.

Qualified Successor means, in the case of each of the original Sibling Members, an Adult descendant of such Sibling member. In the case of any successor to an original Sibling Member, a Qualified Successor means any Adult descendant of such original Sibling Member.

Examples of Qualified Successor in a sentence

• If such Optionee dies within that period of not more than one year, any Option held by such Optionee that could have been exercised immediately prior to his or her death shall pass to the Qualified Successor of such Optionee, and shall be exercisable by the Qualified Successor until the earlier of a period of not more than one year following the death of such Optionee and the expiry of the Term of the Option.

• No such resignation shall become effective until a Qualified Successor or the Master Servicer shall have assumed the Company’s responsibilities and obligations hereunder.

• Options held by a Qualified Successor or exercisable by a Guardian shall, during the period prior to their termination, continue to vest in accordance with any vesting schedule to which such Options are subject.

• Should there be no person meeting the definition of Qualified Successor available to be designated by the Sibling Member, he or she may appoint his or her spouse or any other descendant of Xxxxx X.

• XxXxxx (an “Interim Successor”) to act in his or her place until such time as a Qualified Successor attains the requisite age to serve.

More Definitions of Qualified Successor

Qualified Successor shall have the meaning assigned to that term in Section 12.8(b).

Qualified Successor means have the meaning ascribed thereto in the Employment Agreement or Director's Agreement, as applicable. If such terms does not appear in the Employment Agreement or Director's Agreement, all Plan provisions in respect of a Qualified Successor shall be null and void with respect to the affected Participant.

Qualified Successor means a person who is:

Qualified Successor means a corporation referred to in paragraph 17(2)(b) or (c) of the Canadian Telecommunications Common Carrier Ownership and Control Regulations as they read on October 25, 1994, registered as SOR/94-667, incorporated or continued under the laws of Canada or a province and directly controlled by a Canadian carrier referred to in subsection 16(2) of the Telecommunications Act, or by its acquiring corporation, where

Qualified Successor means a person or persons entitled under Optionee's will or applicable laws of descent and distribution to receive Incentive Stock Options held by Optionee at the time of Optionee's death.

Qualified Successor means in the event there is a vacancy in the Board occurring between annual meetings as a result of death, incapacity or resignation, or if one or more of the Directors shall decline to stand for election to the Board or, if he is unable or unwilling to so serve, then the shareholders that are party to that certain voting agreement ("Voting Agreement") dated on or about the date hereof between the Company and the parties thereto to elect Messrs. Agresti, DeSaye, MacAvery and McQuiston (the "Shareholders") xxxxx designate one or more individuals of standing within the business world reasonably comparable to that of such Director (each a "Qualified Successor") as one or more successor Directors in the following manner. The Shareholders shall select an individual to serve as the Qualified Successor, which individual shall be independent both of the Company (except through proposed service as a member of the Board or a subsidiary of the Company) and of the Shareholders. The selected individual shall be subject to the prior approval of a super-majority of the Shareholders, which consent shall not unreasonably be withheld. A Shareholder's approval of a designated Director shall be deemed given if such Shareholder has not responded to a notice by the Chairman of the Board of the Company within 30 days of notice to the Shareholder of the identity of the selected individual. Upon selection and approval hereunder, such Qualified Successor shall for all purposes be deemed a Director of the Company and shall be subject to the Voting Agreement in the event of his/her death, incapacity, resignation or decision not to be a Director.

Qualified Successor means a Person who is entitled to ownership of an Option or Share Unit upon the death of a Participant, pursuant to a will or the applicable laws of descent and distribution upon death.