Forced Leaver definition
Forced Leaver means an organisation that has ceased to be either an Owner-Member or an Owner pursuant to clause 5.2.1(d) or 6.2.1(b), or pursuant to clause 5.2.1(b) or 6.2.1(a) where it has submitted such voluntary resignation as a result of: (a) a material change in the PIDG objectives as set out in clause 3 of the Constitutional Agreement; (b) any PIDG Entity taking or omitting to take, or intending to take or to not take, any action which, in the reasonable opinion of an Owner or Owner-Member, would expose such organisation to actual or potential material or significant damage to its reputation, including as a result of the consequences of such act or omission from an environmental, social and governance perspective.
Forced Leaver means a Manager which has become a Leaver by reason or in consequence of the termination without cause by the relevant Group Company of such Manager’s employment contract (despido improcedente) or services agreement;
Examples of Forced Leaver in a sentence
The Leaver Put Option will be exercisable by the relevant Managers within three (3) months of the expiration of the Leaver Call Option and subject to such Manager being a Good Leaver or Forced Leaver.
Such Good Leaver or Forced Leaver shall exercise (if at all) the Leaver Put Option (as defined below) within three (3) months of the expiration of the Leaver Call Option.