Senior Management Change definition

Senior Management Change means that any Senior Management Personnel has ceased to be actively involved in the management of the Borrower without the Bank having given its prior written consent to such a change.

Senior Management Change means that any Senior Management Personnel has ceased to be actively involved in the management of the Borrower without the Bank having given its prior written consent to such a change, not to be unreasonably withheld, unless such Senior Management Change was caused by the death of Senior Management Personnel or such Senior Management Personnel suffering from severe illness, and such Senior Management Personnel has been replaced by the Borrower (in consultation with the Bank) within [***] calendar days of such event,

Senior Management Change means that any of Dx. Xxxx Xxxxxx and Mx. Xxxxxx Xxxxx has ceased to be actively involved in the management of the Obligor without the Beneficiary having given its prior written consent to such a change, not to be unreasonably withheld, unless such Senior Management Change was caused by the death of, respectively, Dx. Xxxx Xxxxxx or Mx. Xxxxxx Xxxxx or Dx. Xxxx Xxxxxx or Mx. Xxxxxx Xxxxx suffering from severe illness, and, respectively, Dx. Xxxx Xxxxxx or Mx. Xxxxxx Xxxxx has been replaced by the Obligor (in consultation with the Bank) within [***] calendar days of such event.

Examples of Senior Management Change in a sentence

• In such case, or if the Bank has reasonable cause to believe that a Change-of-Control Event, a Change-of-Law Event or a Senior Management Change has occurred or is likely to occur, the Borrower shall, on request of the Bank, consult with the Bank as to the impact of such event.

• The purpose of this Senior Management Change in Control Severance Policy (the “Policy”) is to diminish the distraction of Covered Executives (as defined below) in the event of a threatened or pending Change in Control (as defined below) and to provide financial assistance to any Covered Executive whose employment with Red Hat, Inc.

• The terms of the Severance Plan and this Agreement supersede all severance provisions of any agreement executed between Executive and the Company including, but not limited to, offer letters, individual employment agreements, and any other policy or program of the Company, with the exception of the Senior Management Change in Control Severance Policy.

• The Borrower shall promptly inform the Bank if: (a) a Change-of-Control Event has occurred or is likely to occur in respect of itself ; (b) a Change-of-Law Event has occurred or is likely to occur; or (c) a Senior Management Change has occurred or is likely to occur.

• This Program does not affect the Senior Management Employee's rights or benefits under the Senior Management Change in Control Program.

More Definitions of Senior Management Change

Senior Management Change means the failure of at least one of the following individuals to be involved in the day to day senior management of Company and its subsidiaries: Mxxxxxx X. Xxxxxx and Lxxxx XxXxxxx.

Senior Management Change means that Dr. Xxx Babecoff or Xx. Xxxxx Xxx-Yedidia has ceased to be actively involved in the management of the Borrower without the Bank having given its prior written consent to such a change.

Senior Management Change means that Mr. Dirk Thye has ceased to be the Chief Executive Officer of the Guarantor 1, the Guarantor 2, the Guarantor 3 and the Guarantor 4, and / or Mr Charles Ryan has ceased to be the Chief Executive Officer of the Borrower without the Bank having given its prior written consent to such a change.

Senior Management Change means that the Senior Management Personnel has ceased to be the Chief Executive Officer of the Borrower without the Bank having given its prior written consent to such a change. "Senior Management Personnel" means Xx Xxxxxxx Xxxx. "Subsidiary" means an entity of which the Borrower has direct or indirect control or owns directly or indirectly more than 50% of the voting capital or similar right of ownership and "control" for this purpose means the power to direct the management and the policies of the entity, whether through the ownership of voting capital, by contract or otherwise. "Tax" means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). "Technical Description" has the meaning given to it in Recital (A). "Third Royalty Payment Date" means the Royalty Payment Date falling during the third Financial Year starting after Commercialization. "Third Tranche" has the meaning given to that term in Article 2.2.1 (Tranches).

Senior Management Change means any termination of the employment of, or change in, the individual who is the chief executive officer of Parent as of the date of this Agreement); or

Senior Management Change means that Amir Reichman or Dr Tamar Ben-Yedtdia has ceased to be actively involved in the management of the Borrower without the Bank having given its prior written consent to such a change.

Senior Management Change means that Dr. Ron Babecoff or Dr. Tamar Ben-Yedidia has ceased to be actively involved in the management of the Borrower without the Bank having given its prior written consent to such a change.