Common use of Not Affiliate Clause in Contracts

Not Affiliate. The Purchaser represents to the Indenture Trustee that it is not (a) an Affiliate of any of the Issuer, the Seller or the Depositor or (b) a “related person” (within the meaning of Section 414(b) or (c) of the Code) of the Issuer, the Seller or the Depositor or any of their Affiliates. For purposes of this paragraph, a Person is an “Affiliate” of another Person if such Person controls, is controlled by or is under common control with such other Person, with the term “control” meaning the power, direct or indirect, (i) to vote 10% or more of any class of voting securities of such other Person or (ii) to direct or cause the direction of the management and policies of such other Person, whether by contract or otherwise.