Independence Requirement. The audit may be performed by trained members of a Service Provider's audit department who are independent of the personnel working in the areas that are exposed to potential issues related to money laundering activities, or by an independent third party. The audit personnel must be knowledgeable regarding the requirements of the Act, the BSA and money laundering activities.
Independence Requirement. Notwithstanding the foregoing, at least three of the Fairmount Directors shall at all times qualify as Independent Directors (the Independence Requirement, and each Fairmount Director qualifying as an Independent Director, a Fairmount Independent Director). In the event that the Independence Requirement is not satisfied due to the number of Fairmount Independent Directors being less than three as a result of any Fairmount Independent Director no longer qualifying as an Independent Director (a Non-qualifying Director) such Non-qualifying Director shall be removed from the Board and the vacancy created by such removal shall be filled in accordance with Section 2.2(a)(ii).
Independence Requirement. The Employee acknowledges that Consulting is, and for an indefinite period of time after the Separation may continue to be, subject to the Auditor Independence Rules. The Employee agrees to abide at all times (including after any termination of employment with Consulting) by the Auditor Independence Rules applicable to KPMG and to take any and all action requested by the Board of Directors of KPMG in connection with such Auditor Independence Rules. The Employee agrees and understands that the breach of the covenant in the immediately preceding sentence may impair the independence of KPMG (an "Independence Conflict").
Independence Requirement. 18 Section 5.2. Separation Prior to the Restricted Period End Date.................................................18 Section 5.3. Separation After the Restricted Period End Date....................................................18 Section 5.4. Auditor Independence Related Divestitures..........................................................18 Section 5.5. Covenants..........................................................................................19
Independence Requirement. The Member agrees to abide by the Auditor Independence Rules applicable to KPMG and to take any and all action requested by the Board of Directors of KPMG in connection with such Auditor Independence Rules. The Member agrees and understands that the breach of the covenant in the immediately preceding sentence may impair the independence of KPMG (an "Independence Conflict").
Independence Requirement. 7 ARTICLE III
Independence Requirement. 6 Section 2.2. Separation Prior to the IPO................................................................7 Section 2.3. Covenants..................................................................................7
Independence Requirement. 23 Section 13.10 Initial Members of the Claims Committee 24 Section 13.11 Rights and Responsibilities. 24 Section 13.12 Other Committees 24 Article XIV. 24 Section 14.01 Rights and Responsibilities. 24 Section 14.02 Qualifications. 25 Section 14.03 Selection. 25 Section 14.04 Term 25 Section 14.05 Compensation. 25 Section 14.06 Independence Requirement. 25 Article XV. 25 Section 15.01 Manager Responsible. 25 Section 15.02 Services Performed. 25 Section 15.03 Conflicts. 26 Article XVI. 26 Section 16.01 Initial Budget. 26 Section 16.02 Subsequent Budgets. 26 Article XVII 27 Section 17.01 Member Information Rights. 27
Independence Requirement. No Members Committee members shall be affiliated (directly or through immediate family) with the Captive Management Service Provider or any other entity (other than a Member land trust) that has a business, consulting or service relationship with the LLC or the Manager. Each member of the Members Committee is required to certify on an annual basis that it has no such affiliation.
Independence Requirement. No member of the Claims Committee shall be affiliated (directly or through immediate family) with the Captive Management Service Provider or any other entity (other than the Manager or its affiliates or any Member land trust) that has a business, consulting or service relationship with the LLC or the Manager. Each member of the Claims Committee is required to certify on an annual basis that it has no such affiliation. Should a member of the Claims Committee have an interest in any particular claim, that member is required to recuse himself or herself from the proceedings addressing the particular claim.
