Resignation or Withdrawal Sample Clauses
Resignation or Withdrawal. Any Manager of the Company may resign by giving written notice to the Board of Managers and the Member. The resignation of a Manager shall take effect upon occurrence of the foregoing or at such later time as shall be specified in such notice; and, unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective; provided, however, that the resignation of the Independent Manager shall not be effective until his replacement shall have been effected. So long as any obligations of the Company under any Transaction Documents are outstanding, the Member of the Company may not resign or withdraw as Member or transfer its interest in the Company, unless (i) a succeeding Member is admitted to the Company which succeeding Member shall not be an individual and who shall have executed an instrument signifying its agreement to be bound by the terms and conditions of this Agreement (which instrument may be a counterpart signature page to this Agreement) and (ii) the resigning Member shall have obtained from each rating agency rating any then outstanding securities in any securitization a confirmation that such resignation of the Member and admission of the succeeding Member will not result in a downgrade, withdrawal or qualification of any of the then outstanding securities issued in such securitization. If no such securitization is outstanding, the Member may not resign unless the requirements of clause (i) of the preceding sentence are satisfied. Any such admission of a succeeding Member shall be deemed effective immediately prior to the resignation of the resigning Member and, immediately following such resignation, the resigning Member shall cease to be the Member of the Company.
Resignation or Withdrawal. No Member shall have the right to resign or withdraw from the Company, or to assign its Interest prior to the dissolution and winding up of the Company, except as expressly contemplated by this Agreement.
Resignation or Withdrawal. In the event Eastland’s employment is terminated by his voluntary resignation or withdrawal, then, in that event, the following will apply unless otherwise agreed between the parties in writing:
(a) If such resignation or withdrawal occurs during the first year of the term of this Agreement, then Eastland will be entitled only to two weeks salary following notice of resignation or withdrawal. Company benefits set forth in Section IV-7 shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited.
(b) If such resignation or withdrawal occurs during the second year of the term of his Agreement, then Eastland will be entitled only to two months salary following notice of resignation or withdrawal. Company benefits set forth in Section IV-7 shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited.
(c) If such resignation or withdrawal occurs during the third year of the term of this agreement, then Eastland will be entitled only to three months salary following notice of resignation or withdrawal and company benefits set forth in Section IV-7 shall be terminated at the end of the calendar month three months following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited.
Resignation or Withdrawal. In the event Employee’s employment is terminated by his voluntary resignation or withdrawal, then, in that event, unless otherwise agreed between the parties in writing, Employee shall be paid upon termination an amount equal to accrued vacation time.
Resignation or Withdrawal. The resignation or withdrawal, or attempted resignation or withdrawal, by a Member from the Company in violation of this Agreement without the prior written consent of the other Member ("Withdrawal Event");
Resignation or Withdrawal. In the event ▇▇▇▇▇▇’▇ employment is terminated by his voluntary resignation or withdrawal, then, in that event, the following will apply unless otherwise agreed between the parties in writing, ▇▇▇▇▇▇ will be entitled to two weeks salary following notice of resignation or withdrawal. Company benefits set forth in Section IV shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited
Resignation or Withdrawal. Each Member agrees not to resign or otherwise voluntarily withdraw from the Company except (i) with the written consent of the Managers, or (ii) in connection with a Transfer of all of his, her or its Units in a manner permitted under Section 8.
Resignation or Withdrawal. (a) A Member may not resign or withdraw (collectively “Withdraw”) from the Company without the written consent of the Manager (“Permitted Withdrawal”). Any voluntary act of a Member that constitutes an attempted Withdrawal from the Company other than a Permitted Withdrawal shall constitute a material breach of this Operating Agreement. Any damages suffered by such breach shall permit the Company to offset any cash or other property distributable to such Member by the Company.
Resignation or Withdrawal. (a) Pure GP shall not resign or ------------------------- take any action to voluntarily withdraw as the general partner of the Partnership prior to the time that all of the Class B Limited Partnership Interests have been redeemed pursuant to Section 9.1; provided that Pure GP may dispose of its Partnership Interest in accordance with Section 8.1(c).
(b) The Bankruptcy of the General Partner shall constitute the withdrawal of the General Partner but not a voluntary withdrawal for purposes of this Agreement Upon the Bankruptcy of the General Partner, the business of the Partnership shall be continued and the Class A Limited Partners may select a successor General Partner.
Resignation or Withdrawal. A General Partner shall not have the right to resign or withdraw from the Partnership, without the approval of all other Partners. In the event of such resignation or withdrawal, such resigning or withdrawing Partner shall, subject to the provisions of Section 19, remain liable for the debts, obligations, and liabilities of the Partnership incurred during the period of time he was such a Partner, and for which he was liable in his capacity as such a Partner.