Director Resignation Sample Clauses
The Director Resignation clause outlines the process and requirements for a director to formally step down from their position on a company's board. Typically, this clause specifies the manner in which a resignation must be submitted, such as requiring written notice to the board or company secretary, and may address the effective date of the resignation. Its core function is to ensure a clear and orderly transition when a director leaves, minimizing disruption and maintaining proper corporate governance.
Director Resignation. In the event that the Executive is a member of the Board on the Effective Date of Termination, Executive shall resign from the Board effective on the Effective Date of Termination.
Director Resignation. Any Director may resign at any time by giving written notice to the Board of Directors and the secretary of the Company. The resignation of any Director shall take effect upon receipt of notice thereof 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.
Director Resignation. A director of the Company shall have resigned from the Board of Directors effective as of the Closing.
Director Resignation. Prior to the Closing, all of the directors and officers of the Company shall have submitted their resignations to Company to be held in escrow and to become effective at the Closing.
Director Resignation. At the written request of Parent prior to the Closing, the Company shall use reasonable best efforts to obtain the resignation of the members of the Company Board specified in such request by Parent who are in office immediately prior to the Effective Time, which resignations shall be effective at, and contingent upon the occurrence of, the Effective Time.
Director Resignation. 5.1 M▇ ▇▇▇▇▇▇▇ shall resign his directorship in and all other positions with the Company with effect as and from the Release Date. For the avoidance of doubt, M▇ ▇▇▇▇▇▇▇ is resigning for reasons other than any disagreement on a matter relating to the Company’s operations, policies or practices.
5.2 M▇ ▇▇▇▇▇▇▇ shall concurrently with the execution of this Agreement, deliver to the Company a signed version of the agreed form of resignation letter at Appendix 1 to this Agreement (the “Resignation Letter”) to be held in escrow until the Release Date.
5.3 Save where a breach of this Agreement (other than a breach by M▇ ▇▇▇▇▇▇▇) has occurred and is continuing, from the date of this Agreement until the Release Date, M▇ ▇▇▇▇▇▇▇ shall abstain from attending meetings of the board of directors of the Company or, if he does attend, shall vote in line with the majority of the other directors of the Company.
Director Resignation. The Company shall use reasonable best efforts to obtain the resignation of all of the members of the Company Board who are in office immediately prior to the Effective Time (and to the extent requested by Parent, from any member of the board of directors (or any equivalent) of each Company Subsidiary), which resignations shall be effective at, and contingent upon the occurrence of, the Effective Time.
Director Resignation. The parties shall have received the resignation of S▇▇▇ ▇▇▇▇▇ from the SIC Board.
Director Resignation. Upon the decrease of the Investors’ collective beneficial ownership below 5% of the outstanding shares of Common Stock, the Investors will take all reasonably necessary action to cause the Investor Director to offer to tender their resignation.
Director Resignation. On the date hereof, the Director has executed the resignation letterer attached hereto as Exhibit A.