Succession definition

Succession means succession to the estate of a deceased person and covers all forms of transfer of assets, rights and obligations by reason of death, whether by way of a voluntary transfer under a disposition of property upon death or a transfer through intestate succession;

Succession means the process of the succession of Relevant Obligations and shall be interpreted in accordance with the definition of "Succeed".

Succession means the orderly and progressive replacement of one plant community by another until a relatively stable community, known as climax vegetation, occupies the area;

Examples of Succession in a sentence

• From the Effective Time through the Chairman Succession Date, or any subsequent time when the Chair of the Board of Directors is not an independent director, the Board of Directors shall have a lead independent director who shall be elected by a majority of the members of the Board of Directors.

• Xxxxx ceases to serve as a member of the Board of Directors for any reason in accordance with these Bylaws (such date, the “Chairman Succession Date”).

• You hereby acknowledge and agree that your removal as Chief Executive Officer of Busey Bank at the Closing Date and your removal as Chief Executive Officer of the Surviving Corporation as of the earlier of (a) the 12-month anniversary of the closing of the Bank Merger and (b) the 18-month anniversary of the Effective Time, and the associated changes resulting from the Succession Plan will not give rise to Constructive Discharge under Section 4(c) of your Employment Agreement.

• You hereby acknowledge and agree that your removal as Chief Executive Officer of CrossFirst and CrossFirst Bank and your appointment as President and Executive Vice Chairman of the Board reporting to the CEO of the Surviving Corporation and as Chief Executive Officer of Busey Bank, reporting to the Executive Chairman of the Bank Board at the Closing Date, and the associated changes resulting from the Succession Plan will not give rise to a Constructive Termination (as defined in the Severance Plan).

• The Executive’s base salary shall be reviewed annually by the Compensation and Succession Planning Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) and/or the Chief Executive Officer of the Company (the “CEO”), in accordance with the Company’s standard practices for executives generally, and may be increased as determined in the sole discretion of the Committee or the CEO (as applicable) or by any person or persons to whom the Committee or CEO has delegated such authority.

More Definitions of Succession

Succession means the direct acquisition of assets and liabilities comprising a going business from a predecessor,

Succession means the right for your tenancy to pass to your partner (married, cohabiting or same sex) or a member of your family, if they have lived as part of your household for at least 12 months before your death. This only applies if they used your home as their only or main home during that period, and do not have an interest in another property as tenant or owner. These rights will not apply if the tenancy had already passed to you by succession or the tenancy was transferred to you by a previous tenant. If you, or a member of your household, think that they have a right to succeed, they must tell us in writing within 28 days of the death of the previous tenant and we will assess their grounds for succession.

Succession means the occasion on which a person becomes the statutory tenant of a dwelling-house by virtue of this Schedule and “successor” shall be construed accordingly.

Succession means the conveyance of property to the heirs of a deceased person.

Succession. Means of or with respect to an interest in the Company means any involuntary (whether by operation of law or otherwise) sale, assignment or other disposition, or pledge, hypothecation or other encumbrance, or other alienation, of such interest (and for this purpose (a) a transfer of a decedent’s interest in the Company pursuant to his or her will or the laws of intestacy is to be considered “involuntary,” and (b) a purported transfer of an interest in the Company in connection with an organization’s voluntary liquidation is to be considered “voluntary”) (the purchaser, assignee, or other recipient, or pledgee, hypothecatee, or other alienee of such interest, or the holder of such encumbrance, being referred to as the “Successor” of or with respect to such interest, and the Member who held such interest immediately before such Succession being referred to as the “Predecessor” of or with respect to such interest).

Succession means the direct acquisition of the assets comprising a going business, whether by merger, consolidation, purchase, or other direct transfer. The term does not include the acquisition of control of a business unless followed by the direct acquisition of its assets. The terms "succeed" and "successor" have the same meaning as "succession".

Succession. All of the provisions in this Rental Agreement shall apply to, bind, and be obligatory upon the Tenant’s heirs, assigns, executors, administrators, representatives, and successors. This agreement may not be transferred without the expressed written agreement of the Landlord.