Common use of KEY EXECUTIVES Clause in Contracts

KEY EXECUTIVES. The officers and key employees of the Borrower whose names and current positions are set forth on Schedule 4.22 hereto shall continue to be employed by such Borrower in such position and with the current duties and responsibilities for at least that position unless (i) such employment ceases because of death, or (ii) such Borrower replaces such officer or key employee within ninety (90) days of the person's notice of resignation with another executive who shall be reasonably acceptable to Lender.

Appears in 1 contract

Sources: Loan and Security Agreement (Teltronics Inc)

KEY EXECUTIVES. The officers and key employees of the Borrower Borrowers whose names and current positions are set forth on Schedule SCHEDULE 4.22 hereto shall continue to be employed by such Borrower in such position and with the current duties and responsibilities for at least that position unless (i) such employment ceases because of death, or (ii) such Borrower replaces such officer or key employee within ninety (90) days of the person's notice of resignation with another executive who shall be reasonably acceptable to Lender.

Appears in 1 contract

Sources: Loan and Security Agreement (Tava Technologies Inc)