Common use of Removal and Resignation of Officers Clause in Contracts

Removal and Resignation of Officers. Subject to the rights, if any, of an officer under any contract of employment, any officer may be removed, either with or without cause, by an affirmative vote of the majority of the Board at any regular or special meeting of the Board or, except in the case of an officer chosen by the Board, by any officer upon whom such power of removal may be conferred by the Board. Any officer may resign at any time by giving written notice to the Corporation. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that notice. Unless otherwise specified in the notice of resignation, the acceptance of the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Corporation under any contract to which the officer is a party.

Appears in 3 contracts

Samples: Loan and Security Agreement (Achaogen Inc), Loan and Security Agreement (Relypsa Inc), Loan and Security Agreement (Relypsa Inc)

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Removal and Resignation of Officers. Subject to the rights, if any, of an officer under any contract of employment, any officer may be removed, either with or without cause, by an affirmative vote of the majority of the Board at any regular or special meeting of the Board or, except in the case of an officer chosen by the Board, by any officer upon whom such power of removal may be conferred by the Board. Any officer may resign at any time by giving written notice to the Corporationcorporation. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that notice. Unless otherwise specified in the notice of resignation, the acceptance of the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Corporation corporation under any contract to which the officer is a party.

Appears in 3 contracts

Samples: Loan and Security Agreement (Cytokinetics Inc), Loan and Security Agreement (Sunesis Pharmaceuticals Inc), Security Agreement (Biomira Inc)

Removal and Resignation of Officers. Subject to the rights, if any, of an officer under any contract of employment, any officer Officer may be removed, either with or without cause, by an affirmative vote of the majority of the Board of Directors, at any regular or special meeting of the Board Board, or, except in the case of an officer Officer chosen by the BoardBoard of Directors, by any officer upon whom such power of removal may be conferred by the BoardBoard of Directors. Any officer may resign at any time by giving written notice to the Corporationcorporation. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that notice. Unless ; and, unless otherwise specified in the notice of resignationthat notice, the acceptance of the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Corporation corporation under any contract to which the officer Officer is a party.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Ophthalmic Imaging Systems), Agreement and Plan of Merger (Ophthalmic Imaging Systems)

Removal and Resignation of Officers. Subject to the rights, if any, of an officer under any contract of employment, and subject, in the case of the Chief Compliance Officer, to any applicable provisions of the 1940 Act, any officer may be removed, either with or without cause, by an affirmative vote of the majority of the Board at any regular or special meeting of the Board oror by written consent, except in the case of or by an officer chosen by the Board, by any officer upon whom such power of removal may be conferred by the Board. Any officer may resign at any time by giving written notice to the CorporationTrust. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that such notice. Unless otherwise specified in the notice of resignationsuch notice, the acceptance of the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Corporation Trust under any contract to which the officer is a party.

Appears in 1 contract

Samples: FS Series Trust

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Removal and Resignation of Officers. Subject to the rights, if any, of an officer under any contract of employment, any Any officer may be removed, either with or without cause, by an affirmative vote of the majority of the Board of Directors at any regular or special meeting of the Board of Directors or, except in the case of an officer chosen appointed by the BoardBoard of Directors, by any officer upon whom such power of removal may be conferred by the BoardBoard of Directors. Any officer may resign at any time by giving upon written notice given in writing or by electronic transmission to the Corporation. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that notice. Unless ; and, unless otherwise specified in the notice of resignationthat notice, the acceptance accep­tance of the resignation shall not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Corporation under any contract to which the officer is a party.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Xedar Corp)

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