Effect of Resignation Sample Clauses
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Effect of Resignation. With effect from the Resignation Effective Date (i) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (ii) except for any indemnity payments or other amounts then owed to the retiring Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Administrative Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed to the retiring Administrative Agent as of the Resignation Effective Date), and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section 9.06). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article XI and Section 11.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them (A) while the retiring Administrative Agent was acting as Administrative Agent and (B) after such resignation or removal for as long as any of them continues to act in any capacity hereunder or under the other Loan Documents, including, without limitation, (1) acting as collateral agent or otherwise holding any collateral security on behalf of any of the Secured Parties and (2) in respect of any actions taken in connection wi...
Effect of Resignation. A resignation which has become effective is considered as breaking continuity of service so far as status as a continuing employee is concerned.
Effect of Resignation. Upon the termination of Executive's employment with the Company for any reason, Executive shall be deemed to have automatically resigned from any position he may hold with the Company, including any offices or board memberships with the Company and/or its affiliates or subsidiaries. Such resignation shall be deemed effective immediately without the requirement that a written resignation be delivered. The Executive shall execute any agreements to further effectuate such resignations that are reasonably requested by the Company.
Effect of Resignation. Upon its resignation or removal becoming effective:
(a) the Domiciliary Agent shall forthwith transfer all records held by it hereunder to the successor Domiciliary Agent, but shall have no other duties or responsibilities hereunder, and shall be entitled to the payment by the Issuer, of its remuneration for the services previously rendered hereunder in accordance with the terms of Clause 14 and to the reimbursement of all reasonable expenses (including legal fees) incurred in connection therewith; and
(b) the Domiciliary Agent shall repay to the Issuer (or to the Issuer’s order) a pro rata proportion (calculated on the basis of the total number of interest payments made and to be made under the Global Notes or Definitive Registered Notes, as the case may be) of the fees paid to it in such capacity hereunder.
Effect of Resignation. Upon its resignation or removal becoming effective the Fiscal Agent shall forthwith transfer all moneys held by it hereunder and the records referred to in clause 7.4 (Costs and Indemnity) hereof and all Bonds and Coupons held by it to the successor Fiscal Agent or, if none, the Issuer or to the Issuer's order, but shall have no other duties or responsibilities hereunder, and shall be entitled to the payment by the Issuer of its remuneration for the services previously rendered hereunder in accordance with the terms of clause 14 (Fees and Expenses) and to the reimbursement of all reasonable expenses (including legal fees) incurred in connection therewith.
Effect of Resignation. 4 Section 2.04
Effect of Resignation. Executive and the Company agree that the resignation contained herein arises from the mutual agreement of the Executive and the Company, resulting in a cessation of Executive's continued employment. Accordingly, such resignation shall not be construed or deemed to be a termination of Executive's employment by the Company, whether with or without cause, or to constitute or be deemed to be any breach of any employment or other obligation or duty by either the Executive or by the Company or any of its Affiliates, whether express or implied, for any purpose, provided that for purposes of construing the provisions of any employee benefit plan in which Executive has been a participant, Executive's resignation shall be given the same effect as a termination without cause.
Effect of Resignation. Should a member resign from the Division or be removed for cause within twenty-four (24) months of the completion of a course for which reimbursement is received, the member shall repay to the City all monies expended by the City for any courses taken within the twenty-four (24) months prior to resignation or removal. Repayment shall not be applicable to a member who resigns to immediately receive regular retirement or disability retirement.
Effect of Resignation. Upon Company’s resignation, the provisions of this Agreement shall terminate. Notwithstanding the foregoing, Company shall remain bound by any and all obligations to grant GS1 US Royalty-Free Licenses and/or RAND Licenses that arose pursuant to the terms of this Agreement before the date of Company’s resignation from the GS1 US Work Group.
Effect of Resignation. At the request of the Company, EXECUTIVE has agreed to continue his employment with the Company with the understanding that the final termination date ("Termination Date") will be no sooner than March 15, 1998, and no later than June 15, 1998. Between those dates, EXECUTIVE'S employment shall be terminable at the will of either Company or EXECUTIVE, with or without cause and with or without advance notice. EXECUTIVE'S employment may be extended beyond June 15, 1998, by the mutual agreement of the Company and EXECUTIVE, in which case, EXECUTIVE'S continued employment shall remain terminable at the will of either Company or EXECUTIVE, with or without cause and with or without advance notice. On the Termination Date, at 11:59 p.m., Pacific Standard Time, EXECUTIVE'S Employment Agreement and EXECUTIVE'S employment with the Company, will terminate. Moreover, on the Termination Date and without further action, EXECUTIVE shall resign the offices of Executive Vice President and Chief Financial Officer as well as all other offices, directorships or position he held in the Company or in any of the subsidiaries of the Company.