Actions by the Representative; Resignation; Vacancies. The Representative may resign from its position as Representative at any time by written notice delivered to the Parent and the Securityholders. If there is a vacancy at any time in the position of the Representative for any reason, such vacancy shall be filled by the majority vote in accordance with the method set forth in Section 10.01(b) above.
Actions by the Representative; Resignation; Vacancies. The Representative may resign and be discharged from its duties or obligations hereunder by giving thirty (30) days advance written notice delivered to Parent and the Interest Holders specifying a date when such resignation shall take effect. If a successor representative is not appointed during the thirty (30) day notice period by the affirmative vote of a majority of the Pro Rata Percentages of the Interest Holders, then Liberty Bank, 000 Xxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxx 00000, shall serve as the successor representative until such time as a successor representative is so appointed.
Actions by the Representative; Resignation; Vacancies. The Representative may resign from its position as Representative at any time by written notice delivered to the Parent and the Securityholders. In the event that the Representative becomes unable to perform its responsibilities hereunder or resigns from such position, the Pre-Closing Series A Majority will select another representative to fill such vacancy and such substituted representative will be deemed to be the Representative for all purposes of this Agreement. Promptly following the filling of such vacancy or substitution described in the immediately preceding sentence, the newly selected Representative shall provide written notice to the Parent of such Representative’s selection.
Actions by the Representative; Resignation; Vacancies. The Purchaser, the Merger Sub, the Surviving Company and the Escrow Agent may rely upon any act or omission (including any decision, consent or instruction) of the Representative with respect to the transactions contemplated by this Agreement and/or any other agreement contemplated hereby as being the act or omission (including any decision, consent or instruction) of the Securityholders. The Purchaser, the Merger Sub, the Surviving Company and the Escrow Agent are hereby relieved from any liability to any Person for any acts done by them in accordance with any act or omission (including any decision, consent or instruction) of the Representative. The Representative may resign from its position as Representative at any time by written notice delivered to the Parent and the Securityholders. If there is a vacancy at any time in the position of the Representative for any reason, such vacancy shall be filled by a majority vote in accordance with the method set forth in Section 10.01(b) above.
