Common use of Independent Clause in Contracts

Independent. When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Seller or the Master Servicer and of any Affiliate of the Seller or the Master Servicer, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the Master Servicer or any Affiliate of the Seller or the Master Servicer and (c) is not connected with the Seller or the Master Servicer or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 39 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2003 3), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

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Independent. When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Seller or the Master Servicer and of any Affiliate of the Seller or the Master Servicer, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the Master Servicer Servicer, or any Affiliate of the Seller or the Master Servicer Servicer, and (c) is not connected with the Seller or the Master Servicer Servicer, or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Independent. When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Seller or the Master Servicer and of any Affiliate of the Seller or the Master ServicerSeller, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the Master Servicer or any Affiliate of the Seller or the Master Servicer and (c) is not connected with the Seller or the Master Servicer or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Independent. When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Seller or the Master Servicer and of any Affiliate of the Seller or the Master Servicer, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the Master Servicer or any Affiliate of the Seller or the Master Servicer and (c) is not connected with the Seller or the Master Servicer or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 2 contracts

Samples: Grantor Trust Agreement (Merrill Lynch Mortgage Investor Trust Series MLCC 2005-3), Grantor Trust Agreement (Structured Asset Mortgage Investments Inc)

Independent. When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Seller or the a Master Servicer and of any Affiliate of the Seller or the a Master Servicer, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the a Master Servicer Servicer, or any Affiliate of the Seller or the a Master Servicer Servicer, and (c) is not connected with the Seller or the a Master Servicer Servicer, or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Securities Inc), Pooling and Servicing Agreement (Bear Stearns Mortgage Securities Inc)

Independent. When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Seller or the Master Servicer Servicers and of any Affiliate of the Seller or the Master ServicerServicers, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the Master Servicer Servicers, or any Affiliate of the Seller or the Master Servicer Servicers, and (c) is not connected with the Seller or the Master Servicer Servicers, or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

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Independent. When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Seller or the Master Seller, any Servicer and of any Affiliate of the Seller or the Master any Servicer, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the Master any Servicer or any Affiliate of the Seller or the Master any Servicer and (c) is not connected with the Seller or the Master any Servicer or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Independent. When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Seller or the Master Servicer and of any Affiliate of the Seller or the Master Servicer, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the Master Servicer or any Affiliate of the Seller or the Master Servicer and (c) is not connected with the Seller or the Master Servicer or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Independent. When used with respect to any specified Person, this term ----------- means that such Person (a) is in fact independent of the Seller or the Master Servicer and of any Affiliate of the Seller or the Master Servicer, (b) does not have any direct financial interest or any material indirect financial interest in the Seller or the Master Servicer Servicer, or any Affiliate of the Seller or the Master Servicer Servicer, and (c) is not connected with the Seller or the Master Servicer Servicer, or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Icifc Secured Assets Corp)

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