Example ContractsClausesDeemed Resignation
Deemed Resignation
Deemed Resignation contract clause examples

Deemed Resignation. Upon termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its subsidiaries.

Deemed Disbursements. Upon the occurrence and during the continuation of any Event of Default of the type described in [Section 9.1.9] or, with notice from the [[Administrative Agent:Organization]], upon the occurrence and during the continuation of any other Event of Default, the Borrower shall Cash Collateralize all the Letters of Credit Outstandings in an amount equal to 103% thereof. Such Cash Collateral shall be held in a collateral account under the sole dominion and control of the [[Administrative Agent:Organization]] as collateral security for the Obligations, all on terms and pursuant to documentation in form and substance reasonably satisfactory to the [[Administrative Agent:Organization]]. Moneys in such collateral account shall be applied by the [[Administrative Agent:Organization]] to reimburse each L/C Issuer for Disbursements for which they have not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the Reimbursement Obligations of the Borrower for the Letter of Credit Outstandings at such time or, if the maturity of the Loans has been accelerated, shall be applied to satisfy other Obligations. If the Borrower is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all Events of Default have been cured or waived.

Deemed Resignations. Unless otherwise agreed and approved by the Board, any termination of Executive’s employment shall constitute an automatic resignation of Executive as an officer of the Company and each affiliate of the Company, and if applicable, an automatic resignation of any seat that he may hold on the Board (including any committee of the Board, if applicable).

Deemed Approval. Notwithstanding anything to the contrary contained in this Work Letter, in the event that Landlord fails to timely respond to any matter in this Work Letter requiring Landlord’s consent or approval, Tenant shall deliver a second written request to Landlord and if Landlord fails to respond to such second written request within two (2) business days after receipt, then Tenant’s request shall be deemed approved.

Deemed Terminations. Notwithstanding the provisions of Paragraph 4.2, if the “liquidation” of the Company results from a deemed termination under [Section 708(b)(1)(B)] of the Code, then # [Subparagraphs 4.2(a) and 4.2(b)])] shall not apply, # the Company shall be deemed for tax purposes to have contributed its Assets to a new tax partnership pursuant to the terms of this Exhibit C, # the Company shall be deemed to have distributed Percentage Interests in such new tax partnership in accordance with the relative Capital Account balances of the Members as adjusted pursuant to [Subparagraph 4.2(a), and (iv)])] the new tax partnership shall continue pursuant to the terms of this Agreement and this Exhibit C.

Deemed Execution. On the date of your electronic acceptance of the terms of the Award and this Agreement, this Agreement shall be deemed to have been executed and delivered by you and the Company.

Deemed Representation. Any certificate signed by any officer of the Company delivered to the Agents or to counsel for the Agents pursuant to or in connection with this Agreement or any applicable Terms Agreement shall be deemed a representation and warranty by the Company to the Agents as to the matters covered thereby as of the date or dates indicated in such certificate.

Resignation. Effective as of the date of this Agreement, you agree to resign from the Board and all subcommittees and any other offices thereof. Therefore, as of the date of this Agreement, you will no longer be a member of the Company’s Board of Directors or any committee thereof.

Resignation. Any Director may resign at any time by notice given in writing or by electronic transmission to the Company. Such resignation shall take effect at the date of receipt of such notice by the Company or at such later time as is therein specified.

Resignation. The Custodian may at any time resign under this Agreement by giving not less than sixty (60) days advance written notice thereof to the Company.

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