Effect of Resignation. With effect from the Resignation Effective Date (i) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (ii) except for any indemnity payments or other amounts then owed to the retiring Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Administrative Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed to the retiring Administrative Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent.
Effect of Resignation. A resignation which has become effective is considered as breaking continuity of service so far as status as a continuing employee is concerned.
Effect of Resignation. Upon the termination of Executive's employment with the Company for any reason, Executive shall be deemed to have automatically resigned from any position he may hold with the Company, including any offices or board memberships with the Company and/or its affiliates or subsidiaries. Such resignation shall be deemed effective immediately without the requirement that a written resignation be delivered. The Executive shall execute any agreements to further effectuate such resignations that are reasonably requested by the Company.
Effect of Resignation. 4 Section 2.04
Effect of Resignation. Executive and the Company agree that the resignation contained herein arises from the mutual agreement of the Executive and the Company, resulting in a cessation of Executive's continued employment. Accordingly, such resignation shall not be construed or deemed to be a termination of Executive's employment by the Company, whether with or without cause, or to constitute or be deemed to be any breach of any employment or other obligation or duty by either the Executive or by the Company or any of its Affiliates, whether express or implied, for any purpose, provided that for purposes of construing the provisions of any employee benefit plan in which Executive has been a participant, Executive's resignation shall be given the same effect as a termination without cause.
Effect of Resignation. Should a member resign from the Division or be removed for cause within twenty-four (24) months of the completion of a course for which reimbursement is received, the member shall repay to the City all monies expended by the City for any courses taken within the twenty-four (24) months prior to resignation or removal. Repayment shall not be applicable to a member who resigns to immediately receive regular retirement or disability retirement.
Effect of Resignation. Employer agrees to pay Employee separation payments in an amount equal to ten months Base Salary (as defined in the Employment Agreement), in ten equal monthly installments commencing April 25, 2003, and terminating February 25, 2004. As partial consideration for such separation payments, Employee agrees to be available for telephone consultation on a limited basis for sixty (60) days following the date of this Agreement. In addition, Employer agrees to pay Employee an amount equal to two weeks Base Salary (as defined in the Employment Agreement) by no later than May 2, 2003. Any of the Company's property, other than that described on Schedule 1 hereto, shall be returned to the Company by the close of business April 25, 2003. Employee shall be entitled to elect continuing health care coverage under Employer's health plan, at Employer's expense through the last day of November 2003, subject to the requirements of Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, Internal Revenue Code section 4980B, and subsequent legislation ("COBRA"). In connection with the execution of this Separation Agreement, Employee and Employer hereby waive and release each other from any and all causes of actions, debts, claims and liabilities, whether known or unknown, which either party now has or may have in the future against the other under the Employment Agreement, except as otherwise provided herein.
Effect of Resignation. Upon Closing, the Company shall have no further obligations to Xx. Xxxx except as specifically set forth in this Agreement, the Stock Option Agreements and the Shareholders' Agreement. Upon termination of the Severance Period, the Company shall have no further obligations to the Executive under the terms of this Agreement. Upon Closing, Xx. Xxxx shall have no further obligations to the Company except as set forth herein, in the Shareholders' Agreement and in the Stock Option Agreements.
Effect of Resignation. As of the Effective Date, you will no longer be an employee of the Company. Except as otherwise agreed by the Company, you shall relinquish all titles, positions and authorities that you held during your employment, with respect to the Company and each and every subsidiary or affiliate of the Company with which you have held positions as an officer and/or director. You agree to provide execute any and all documents necessary to effect your resignation from all such positions. It is understood that there are some indirect subsidiaries of the Company with respect to which it may be difficult to affect a change in Board membership by the Effective Date. In such circumstances, you agree to remain as a member of the Board and to cooperate with the Company and each such subsidiary until such time as the Company determines it appropriate for you to resign from such position.
Effect of Resignation. Upon its resignation or removal in respect of the Account(s) relating to a Series becoming effective, the Account Bank shall forthwith transfer, upon receipt of a validly signed instruction or electronic payment instruction by the Issuer or the Note Trustee, as the case may be, all moneys held by it hereunder in respect of the Account(s) relating to such Series and the records thereto to the successor Account Bank or, if none, to the Note Trustee or to the Note Trustee's order, but shall have no other duties or responsibilities hereunder, and shall be entitled to the payment by the Issuer of its remuneration for the services previously rendered hereunder and to the reimbursement of all reasonable expenses (including legal fees) incurred in connection therewith each in accordance with the terms of Clause 10.
