Maintenance of Independence. Each Credit Party shall at all times (a) conduct and present itself as a separate entity and maintain all business organization formalities, (b) maintain separate books and records, (c) conduct all transactions with Affiliates (i) in accordance with the provisions of the Operative Documents, or (ii) otherwise on an arm’s length basis, and (d) not commingle its funds with funds of other Persons, including Affiliates.
Maintenance of Independence. Each Credit Party shall at all times (i) conduct and present itself as a separate entity and maintain all business organization formalities, (ii) maintain separate books and records, (iii) conduct all transactions with Affiliates (x) in accordance with Section 2.2 of the Partnership Agreement of the Initial Borrower (or the corresponding section of the Partnership Agreement of any other Borrower or Feeder Fund) or (y) otherwise on an arm’s length basis, and (iv) not commingle its funds with funds of other Persons, including Affiliates, except for related Investor Capital Contributions deposited directly or indirectly into the related Collateral Account (which shall include any deposit into an account of any intermediate fund prior to depositing into the related Collateral Account).
Maintenance of Independence. Each Borrower shall at all times (i) conduct and present itself as a separate entity and maintain all business organization formalities, (ii) maintain separate books and records, (iii) conduct all transactions with Affiliates (x) in accordance with its Constituent Documents or (y) otherwise on an arm’s length basis, and (iv) not commingle its funds with funds of other Persons, including Affiliates, except for related Investor Capital Contributions deposited directly or indirectly into the related Borrower Collateral Account (which shall include any deposit into an account of any intermediate fund prior to depositing into the Borrower Collateral Account).
Maintenance of Independence. Such Borrower shall at all times (i) conduct and present itself as a separate entity and maintain all business organization formalities, (ii) maintain separate books and records, (iii) conduct all transactions with Affiliates in accordance with Law and with its Constituent Documents and, except as expressly permitted in its Constituent Documents, on an arm’s length basis, and (iv) not commingle its funds in the Collateral Accounts with funds of other Persons, including Affiliates, except for related Capital Contributions deposited directly or indirectly into the related Collateral Account.
Maintenance of Independence. (1) The Client hereby acknowledges that it is possible, in the event that the Client is or becomes an audit client or a company affiliated with an audit client of a G & W firm within the meaning of the applicable independence regulations for auditors, that G & W will no longer be allowed to perform certain services or that certain formalities may have to be adhered to before providing the services (e.g. obtaining prior permission) as well as during or after the termination of the Engagement (e.g. disclosure of non-audit fees).
Maintenance of Independence. Each Borrower shall at all times (a) conduct and present themselves as separate entities and maintain all business organization formalities; (b) maintain separate books and records; (c) conduct all transactions with Affiliates on an arm’s length basis; and (d) not commingle its funds with funds of other Persons, including Affiliates.
Maintenance of Independence. 5.1.1. The Parties are independent legal subjects, and no employee of either Party shall be considered to be an employee of the other Party.
Maintenance of Independence. Each Credit Party shall at all times (i) conduct and present itself as a separate entity and maintain all business organization formalities, (ii) maintain separate books and records (solely with respect to the Borrowers), provided that the foregoing shall not be construed as to limit the Borrowers from including their consolidated Subsidiaries in their consolidated financial statements, (iii) conduct all transactions with Affiliates (x) in accordance with the applicable Constituent Document or (y) otherwise on an arm’s length basis, and (iv) not commingle its funds with funds of other Persons, including Affiliates, except for (I) related Investor Capital Contributions deposited directly or indirectly into the related Collateral Account (which shall include any deposit into an account of any intermediate fund prior to depositing into the Collateral Account) and (II) collections on Investments owned by or pledged to a Subsidiary of a Credit Party (or a lender or agent acting for lenders to such a Subsidiary) that are initially deposited and temporarily held in the name or at the account of a Credit Party prior to the transfer of such collections to an account of such Subsidiary, lender or agent (“Subsidiary Assets”).
Maintenance of Independence. Each Loan Party shall at all times (a) conduct and present itself as a separate entity from the other Loan Parties and maintain all business organization formalities, (b) maintain separate books and records from the other Loan Parties, (c) conduct all transactions with Affiliates (i) in accordance with applicable restrictions in the Governing Agreements or (ii) otherwise on an arm’s length basis, and (d) not commingle its funds with funds of other Persons, including Affiliates, except for related Capital Contributions USActive 60330059.19 -87- deposited directly or indirectly into the related Collateral Account (which shall include any deposit into an account of any intermediate fund prior to depositing into the Collateral Account); provided that, in each case, it is acknowledged and agreed that (y) the Guarantor acts through the Guarantor General Partner in its capacity as general partner of the Guarantor; and (z) the assets of the Guarantor are held by the Guarantor General Partner for and on behalf of the Guarantor on statutory trust as a matter of law.
