Common use of Certain Resignations Clause in Contracts

Certain Resignations. At or prior to the Distribution Date, Spinco shall use its reasonable best efforts to cause each officer and director of any member of the Remainco Group who will not be employed by any member of the Spinco Group after the Distribution Date to be removed, effective not later than the Distribution Date, from all boards of directors or similar governing bodies of any member of the Spinco Group on which they serve, and from all positions as officers of any member of the Spinco Group in which they serve, with no Liabilities to such officers or directors.

Appears in 2 contracts

Sources: Separation and Distribution Agreement (Regal Beloit Corp), Separation and Distribution Agreement (Rexnord Corp)

Certain Resignations. At or prior to the Distribution Date, Spinco shall use its reasonable best efforts to cause each officer and director employee of any member of the Remainco Group who will not be employed by any member of the Spinco Group after the Distribution Date to be removed, effective not later than the Distribution Date, from all boards of directors or similar governing bodies of any member of the Spinco Group on which they serve, and from all positions as officers of any member of the Spinco Group in which they serve, with no Liabilities to such officers or directors.

Appears in 2 contracts

Sources: Separation and Distribution Agreement (Everi Holdings Inc.), Separation and Distribution Agreement (International Game Technology PLC)

Certain Resignations. At or prior to the Distribution Closing Date, Spinco shall use its reasonable best efforts to cause each officer and director employee of any member of the Remainco Group who will not be employed by any member of the Spinco Group after the Distribution Closing Date to be removed, effective not later than the Distribution Closing Date, from all boards of directors or similar governing bodies of any member of the Spinco Group on which they serve, and from all positions as officers of any member of the Spinco Group in which they serve, with no Liabilities to such officers or directors.

Appears in 2 contracts

Sources: Separation and Sale Agreement (International Game Technology PLC), Separation and Sale Agreement (Everi Holdings Inc.)

Certain Resignations. At or prior to the Spinco Distribution Date, Spinco Remainco shall use its reasonable best efforts to cause each officer employee and director of Remainco or any member of the Remainco Group who will is not be employed by any member of the a Spinco Group after the Distribution Date Employee to be removedresign, effective not later than the Distribution DateSpinco Distribution, from all boards of directors or similar governing bodies of any member Spinco and the other members of the Spinco Group on which they serve, and from all positions as officers of any member Spinco the other members of the Spinco Group in which they serve, with no Liabilities to such officers or directors.

Appears in 2 contracts

Sources: Separation and Distribution Agreement (Discovery, Inc.), Separation and Distribution Agreement (At&t Inc.)

Certain Resignations. At or prior to the Spinco Distribution Date, Spinco Remainco shall use its reasonable best efforts to cause each officer employee and director of Remainco or any member of the Remainco Group who will is not be employed by any member of the a Spinco Group after the Distribution Date Employee to be removedresign, effective not later than the Distribution DateSpinco Distribution, from all boards of directors or similar governing bodies of any member Spinco and the other members of the Spinco Group on which they serve, and from all positions as officers of any member Spinco and the other members of the Spinco Group in which they serve, with no Liabilities to such officers or directors.

Appears in 1 contract

Sources: Separation and Distribution Agreement (Berry Global Group, Inc.)

Certain Resignations. At or prior to the Spinco Distribution Date, Spinco Remainco shall use its reasonable best efforts to cause each officer employee and director of Remainco or any member of the Remainco Group who will is not be employed by any member of the a Spinco Group after the Distribution Date Employee to be removedresign, effective not later than the Distribution DateSpinco Distribution, from all boards of directors or similar governing bodies of any member Spinco and the other members of the Spinco Group on which they serve, and from all positions as officers of any member Spinco the other members of the Spinco Group in which they serve, with no Liabilities to such officers or directors.

Appears in 1 contract

Sources: Separation and Distribution Agreement (International Flavors & Fragrances Inc)