Resignation Effective Time definition
Examples of Resignation Effective Time in a sentence
Following the Resignation Effective Time, Employee shall no longer serve as Senior Vice President and Chief Operating Officer of the Company, but shall serve as Regional Vice President of the Company’s Southeast Region, and shall have such powers and duties as may be assigned from time to time by the President or the Chief Operating Officer of the Company.
If IGPAC reasonably determines that insufficient funds exist (based upon a review of similar transactions and their associated costs), IGPAC will only be obligated to proceed with an alternative to dissolution if FIIG commits to extending a credit facility to IGPAC upon reasonable terms to provide IGPAC with all funds required to operate IGPAC through the Resignation Effective Time.
Effective as of the Resignation Effective Time, Employee resigns as Senior Vice President and Chief Operating Officer of the Company and as an officer of the Company’s subsidiaries, including, without limitation, Odyssey HealthCare Holding Company, Odyssey HealthCare GP, LLC, Hospice of the Palm Coast, Inc., Odyssey HealthCare Management, LP, Odyssey HealthCare Operating A, LP, Odyssey HealthCare Operating B, LP, and Odyssey HealthCare Foundation.
Such right of designation shall exist until the Resignation Effective Time (as defined in Section 5 of this Agreement).
LLC (formerly known as M▇▇▇▇▇ S▇▇▇▇▇▇ & Co. Incorporated and successor to L▇▇▇▇▇ Commercial Paper Inc.), as collateral agent (in such capacity, the “Existing Collateral Agent”) and BARCLAYS BANK PLC (as successor to the Existing Collateral Agent upon the occurrence of the Resignation Effective Time as set forth herein), as collateral agent (in such capacity, the “Collateral Agent”).
Until the Resignation Effective Time, Employee shall serve as Senior Vice President and Chief Operating Officer of the Company, and shall have such powers and duties (including holding officer positions with one or more Subsidiaries of the Company) as may be assigned from time to time by the Board of Directors of the Company (the “Board”).
The Collateral Agent agrees to take possession of any Collateral delivered to the Collateral Agent following the Resignation Effective Time upon tender thereof by the Existing Collateral Agent.
Any amounts owed or owing to the Existing Syndication Agent under this Agreement or under the Loan Documents, in its capacity as the Existing Syndication Agent, shall constitute “Obligations” for all purposes of the Credit Agreement and the other Loan Documents irrespective of whether such amounts were incurred before or after the Resignation Effective Time and shall be entitled to the priority currently afforded thereto by the terms of the Loan Documents.
Employee shall be entitled to receive an annual bonus for 2007 for her service as Senior Vice President and Chief Operating Officer from January 1, 2007 through the Resignation Effective Time.
Such bonus shall be a pro-rated amount equal to the product of (i) the amount of the annual bonus, if any, to which Employee would have been entitled for calendar 2007 if Employee had not resigned as Senior Vice President and Chief Operating Officer of the Company, multiplied by (ii) a fraction, the numerator of which is the number of days that have elapsed since January 1, 2007 through (but not including) the Resignation Effective Time, and the denominator of which is the total number of days in 2007.