Successor Proxy Clause Samples
A Successor Proxy clause designates an individual or entity to act on behalf of a party if the original party is unable or unwilling to fulfill their role, typically due to incapacity, resignation, or other specified events. In practice, this clause outlines the process for appointing the proxy, the scope of their authority, and any limitations or conditions under which the proxy may act. Its core function is to ensure continuity and prevent disruptions in decision-making or representation by providing a clear mechanism for succession.
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Successor Proxy. In the event that the Proxy is unable or unwilling to serve as the Proxy, a successor proxy (who will become the Proxy under this Agreement, if appointed in accordance with this Section 9) may be appointed by the Proxy at his discretion, or if the Proxy is unable to make such appointment due to his death or incapacity to act, by the consent of the successors to the Proxy’s individual shares of capital stock of the Company that hold a majority interest in such shares. A successor proxy shall be vested with all the rights, powers and authority as if originally named in this Agreement.
Successor Proxy. Upon the death or the Permanent Disability (as such term is defined below) of the Designated Agent, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ will become the successor Designated Agent hereunder, unless Participating Stockholders holding at least seventy percent “70%” of the Owned Stock subject to this Agreement appoint a different successor Designated Agent. Upon such death or Permanent Disability and appointment of a successor Designated Agent, each Participating Stockholder agrees to execute and deliver to ▇▇. ▇▇▇▇ ▇▇▇▇ Levin or such other successor appointed by the Participating Stockholders, as the case may be, an additional Proxy naming ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ or such other successor appointed by the Participating stockholders, as the case may be, as proxy therein. For purposes of this Agreement, the term “Permanent Disability” means permanent disability as determined by any physician of The Cleveland Clinic of Cleveland, Ohio or its successors and assigns.
Successor Proxy. In the event that May is unable or unwilling to serve as the proxy of Shareholder hereunder, a successor proxy may be appointed by May at his discretion. A successor proxy shall be vested with all the rights, powers and authority as if originally named in this Agreement. The Shareholder shall re-execute and provide such successor proxy any and all voting proxies and other confirmations as such successor proxy may reasonably request to reflect the successor proxy as proxy of Shareholder hereunder. No appointment of a successor proxy may extend the Term of this Agreement later than the death of May.
Successor Proxy. In the event that ▇▇. ▇▇▇▇▇ is unable or unwilling to serve as the proxy of Shareholders hereunder, a successor proxy may be appointed by ▇▇. ▇▇▇▇▇ at his discretion. A successor proxy shall be vested with all the rights, powers and authority as if originally named in this Agreement. The Shareholders shall re-execute and provide such successor proxy any and all voting proxies and other confirmations as such successor proxy may reasonably request to reflect the successor proxy as proxy of Shareholders hereunder.
Successor Proxy. Upon the death or permanent incapacity of Proxy, ▇▇▇▇▇▇▇ ▇. Grow shall be appointed as successor Proxy upon his written acceptance of such appointment.