Revocation of Designation Clause Samples

Revocation of Designation. The designation of Partnership Representative may be revoked with or without cause by a written notice from the Manager. The Partnership Representative whose designation has been revoked shall follow the directions of the Manager in connection with the appointment of a successor Partnership Representative and the filing of such statements, forms and other document with the IRS as required by the Partnership Audit Rules. Notwithstanding the foregoing, in the event such revocation is not effective for purposes of the Partnership Audit Rules and in any event prior to the effective appointment of a successor, the Partnership Representative whose designation has been revoked shall take any and all actions and sign and deliver any and all documents, instruments, elections and agreement as directed by the Manager until such revocation is effective for purposes of the Partnership Audit Rules.

Revocation of Designation. The Borrower may revoke any designation of a Subsidiary as an Unrestricted Subsidiary by delivering to the Agent a certificate of the Chief Financial Officer (and the Agent shall promptly forward a copy of such certificate to each Lender) attaching a copy of a resolution of the Borrower's board of directors setting forth such revocation and stating that the conditions set forth in this Section 1.3 have been satisfied with respect to such revocation, Provided that no such revocation shall be effective unless (i) at the time of such revocation and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing; (ii) all Liens, Indebtedness and Investments of such Unrestricted Subsidiary outstanding immediately following such revocation would, if incurred at such time, have been permitted to be incurred under this Agreement and (iii) the Borrower shall have demonstrated to the reasonable satisfaction of the Agent that (based on, among other things operating and financial projections and PRO FORMA financial statements delivered to the Agent and certified by the Chief Financial Officer), immediately after giving effect to such revocation, all covenants (including all covenants contained in ARTICLE X hereof) contained herein (A) would have been satisfied on a pro forma basis as at the end of and for the Most Recent Reference Period had such Subsidiary been a Restricted Subsidiary at all times during such period, and (B) will be satisfied and PRO FORMA basis through the period ending two years after the date of such designation.

Revocation of Designation. The designation of partnership representative may be revoked with or without cause by a written notice from the Board of Directors. The partnership representative whose designation has been revoked shall follow the

Revocation of Designation. If such a designation is revoked, any subsequent form of distribution must satisfy the requirements of Code Section 401(a)(9) and the proposed regulations thereunder as in effect at the time of distribution. If a designation is revoked subsequent to the date distributions are required to begin, the plan must distribute by the end of the calendar year following the calendar year in which the revocation occurs the total amount not yet distributed which would have been required to have been distributed to satisfy section 401(a)(9) of the Code and the proposed regulations thereunder, but for the section 242(b)

Revocation of Designation. The Borrower may revoke any designation of a Subsidiary as an Unrestricted Subsidiary by delivering to the Administrative Agent a certificate of a Financial Officer (and the Administrative Agent shall promptly forward a copy of such certificate to each Lender) attaching a copy of a resolution of the Borrower's board of directors setting forth such revocation and stating that the conditions set forth in this Section 10.14 have been satisfied with respect to such revocation, provided that no such revocation shall be effective unless at the time thereof and immediately after giving effect thereto (i) no Default shall have occurred and be continuing, (ii) all Liens, Indebtedness and investments of such Unrestricted Subsidiary outstanding immediately following such revocation would, if incurred at such time, have been permitted to be incurred under this Agreement, (iii) the Administrative Agent shall have received a certificate of a Financial Officer attaching a calculation (in reasonable detail) of the covenants contained in Sections 7.12 on a pro forma basis giving effect to such revocation and (iv) such Unrestricted Subsidiary shall have complied with the provisions of Sections 6.12 and 6.13.

Revocation of Designation. The State Tax Commission may revoke the approved designation of a current designated assessor under the following circumstances: (i) if the County Designated Assessor dies or becomes incapacitated. (ii) If the designated assessor was designated and approved based on his or her employment status and that status materially changes. (iii) If it determines at any time that the County Designated Assessor is not capable of ensuring that contracting assessing districts achieve and maintain substantial compliance with the requirements in MCL 211.10g(1).