Management Changes. The Chairman of the Board or the chief executive officer of the Company resigns, is terminated or otherwise ceases to act for any reason, and such officer of the Company is not replaced with a person reasonably satisfactory to the Majority Banks within six (6) months after he ceases to hold such position. 8.1.12
Appears in 6 contracts
Samples: Credit Agreement (Bedford Property Investors Inc/Md), Credit Agreement (Bedford Property Investors Inc/Md), Unsecured Credit Agreement (Bedford Property Investors Inc/Md)
Management Changes. The Chairman Chairperson of the Board or the chief executive officer office of the Company Borrower resigns, is terminated or otherwise ceases to act for any reason, and such officer of the Company Borrower is not replaced with a person reasonably satisfactory to the Majority Banks Lender within six twelve (612) months after he such person ceases to hold such position. 8.1.12.
Appears in 1 contract
Management Changes. The Chairman of the Board or the chief executive officer of the Company resigns, is terminated or otherwise ceases to act for any reason, and such officer of the Company is not replaced with a person reasonably satisfactory to the Majority Banks within six (6) months after he ceases to hold such position. 8.1.12.
Appears in 1 contract
Samples: Credit Agreement (Bedford Property Investors Inc/Md)
