Common use of Separate Business Clause in Contracts

Separate Business. The Contributor will not permit its assets to be commingled with those of Vendor Services and the Contributor shall maintain separate corporate records, books of accounts and bank accounts from those of Vendor Services. The Contributor will not conduct its business in the name of Vendor Services and will cause Vendor Services to conduct its business solely in its own name so as not to mislead others as to the identity of the entity with which those others are concerned. The Contributor will provide for its own operating expenses and liabilities from its own funds, except that the organizational expenses of the Contributor may be paid by Vendor Services. The Contributor will not hold itself out, or permit itself to be held out, as having agreed to pay, or as generally being liable for, the debts of Vendor Services. The Contributor shall cause Vendor Services not to hold itself out, or permit itself to be held out, as having agreed to pay, or as generally being liable for, the debts of the Contributor except that the organizational expenses of the Contributor may be paid by Vendor Services. The Contributor will maintain an arm's length relationship with Vendor Services with respect to any transactions between the Contributor, on the one hand, and Vendor Services, on the other.