Common use of Key Executive Clause in Contracts

Key Executive. Any Key Executive: (i) ceases to be a full-time employee and director of the Parent devoting the time and attention to the affairs of the Group required by the terms of the applicable service contract; (ii) dies; or (iii) becomes unable (for whatever reason) adequately to carry out the functions required to be performed by that Key Executive by the terms of the applicable service contract, and in any such event a replacement for that Key Executive has not been appointed (following consultation with the Lenders) within six months of such event or, having been so appointed within six months, has not taken up employment within six months of appointment but no later than nine months from the date of such event (or such other period as may be agreed with the Majority Lenders (acting reasonably)).

Key Executive. Any The Key Executive: (i) ceases to be a full-time employee and director of the Parent devoting the time and attention to the affairs of the Group required by the terms of the applicable service contract; (ii) dies; or (iii) becomes unable (for whatever reason) adequately to carry out the functions required to be performed by that Key Executive by the terms of the applicable service contract, and in any such event a replacement for that the Key Executive has not been appointed (following consultation with the Lenders) within six months of such event or, having been so appointed within six months, has not taken up employment within six months of appointment but no later than nine months from the date of such event (or such other period as may be agreed with the Majority Lenders (acting reasonably)).

Key Executive. Any Key Executive: (i) ceases to be a full-time employee and director of the Parent devoting the time and attention to the affairs of the Group required by the terms of the applicable service contract; (ii) dies; or (iii) becomes unable (for whatever reason) adequately to carry out the functions required to be performed by that Key Executive by the terms of the applicable service contract, and in any such event a replacement for that Key Executive has not been appointed (following consultation with the Mezzanine Lenders) within six months of such event or, having been so appointed within six months, has not taken up employment within six months of appointment but no later than nine months from the date of such event (or such other period as may be agreed with the Majority Mezzanine Lenders (acting reasonably)).