Common use of Separation of Escrow Agent and Registrar Clause in Contracts

Separation of Escrow Agent and Registrar. Each of Escrow Agent and Registrar represent and warrant to ICANN that Escrow Agent and Registrar are not, directly or indirectly, an Affiliate of such other party. In the event Escrow Agent and Registrar are or become Affiliates for any reason, Escrow Agent shall terminate this Agreement and release all Deposits to ICANN pursuant to this Agreement. For purposes of this Agreement: (a) “Affiliate” means a person or entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, the person or entity specified, and (b) “control” (including the terms “controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a person, whether through the ownership of securities, as trustee or executor, by serving as an employee or a member of a board of directors or equivalent governing body, by contract, by credit arrangement or otherwise.