Ceasing to Hold Office Sample Clauses
The 'Ceasing to Hold Office' clause defines the circumstances and procedures under which an individual, such as a director or officer, will vacate their position within an organization. Typically, this clause outlines specific events that trigger the end of office, such as resignation, disqualification, incapacity, or removal by a governing body. By clearly specifying these conditions, the clause ensures organizational continuity and legal compliance, while minimizing ambiguity about when and how an officeholder's term concludes.
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Ceasing to Hold Office. An Independent Director shall cease to hold office as a Director:
(a) On expiry of the applicable Term of Office;
(b) If the Independent Director ceases to hold office pursuant to section 108 of the Legislation;
(c) 21 days after the Independent Director or a Majority gives written notice to the Corporation and the Directors stating that the Independent Director does not deal at arm’s length with the Woodfine Group, or in the case of an Independent Director who was a Qualified Nominee, that the Independent Director has ceased to be a member in good standing of the Institute of Corporate Directors or has become a director of a General Partner; or
(d) Subject to contrary resolution of the Shareholders, when this Agreement is terminated.
Ceasing to Hold Office. A director ceases to hold office when the director:
Ceasing to Hold Office. A director may resign as a director by delivering a written resignation to the Co-operative and such resignation shall become effective at the time the resignation is received by the Co-operative or the time specified in the resignation whichever is later. A director shall forthwith cease to hold office as a director should the director cease to be qualified in accordance with the Act.
Ceasing to Hold Office. A director ceases to hold office at the earliest of (i) his or her death, (ii) his or her removal from office by the shareholders of the Corporation in accordance with paragraph 4.6, (iii) his or her becoming disqualified for election as a director, (iv) his or her resignation, which resignation is effective when his or her written resignation is sent to the Corporation, or, if a later time is specified in that resignation, at the later time, (v) the expiry of his or her term, if he or she is elected for an expressly stated term, or (vi) the close of the first annual meeting of shareholders following his or her election, if he or she is not elected for an expressly stated term.
Ceasing to Hold Office. A Trustee ceases to hold office when the Trustee:
(a) dies (in the case of a Trustee who is a natural person);
(b) resigns;
(c) is removed in accordance with Section 13.4; or
(d) fails to meet the qualifications set out in Section 6.3(a) or (b), as applicable. The resignation of a Trustee becomes effective at the time specified in a written resignation delivered to Museum London and the City, provided that if, upon the resignation becoming effective, no successor Trustee has been appointed, the resignation is not effective until the resigning Trustee's successor is ▇▇▇▇ appointed as a Trustee. Upon a Trustee ceasing to hold office, such Trustee shall cease to be a party, as a Trustee, to this Agreement; provided, however, that such Trustee shall continue to be entitled to be paid any amounts owing by the Trust to the Trustee and to the benefits of the indemnity provided in Section 6.9.
Ceasing to Hold Office. In the event that the Participant ceases to be a director of the Company other than by reason of death, any then-vested portion of the Option may be exercised by the Participant at any time during the ninety (90) day period following the date the Participant ceases to be a director of the Company or the Expiration Date, whichever is shorter. The Option shall terminate immediately thereafter. Notwithstanding the foregoing, if the Participant ceases to be a director of the Company but continues to be engaged by the Company or one of its Affiliates as an employee or a consultant, the Expiration Date shall remain unchanged, except as otherwise contemplated under this Agreement or the Plan.
Ceasing to Hold Office. A director ceases to hold office when that director:
(a) dies;
(b) is removed from office by the shareholders in accordance with the Act;
(c) ceases to be qualified for election as a director; or
(d) has sent or delivered a written resignation to the Corporation, or if a time is specified in such resignation, at the time so specified, whichever is later.
Ceasing to Hold Office. A Director ceases to hold office when the Director resigns, is removed in accordance with the following paragraph, dies, or becomes disqualified in accordance with Section 126 of the Act: the person is under 18 years of age, has been declared incapable by a court in Canada or another country, is not an individual, or has the status of a bankrupt.