Trustee Independence. The Trustees shall not, during the term of their service, hold a financial interest in, act as attorney or agent for, or serve as an officer or as any other professional for the Reorganized Debtor, J&J, or any of their respective Affiliates. Notwithstanding the foregoing, the Trustees may serve, without any additional compensation other than the compensation to be paid by the Talc Trust pursuant to Section 4.5(a) above, as a manager of the Reorganized Debtor. The Trustees shall not act as an attorney, agent, or other professional for any Person who holds a Talc Claim. For the avoidance of doubt, this Section 4.9 shall not be applicable to the Delaware Trustee.
Trustee Independence. The Trustee is, and shall be, independent of Neomedic and MDL 2511 Co-Lead Counsel.
Trustee Independence. (a) After the Closing, (i) the Trustees shall not be affiliated with an entity that immediately prior to the Closing is a significant customer of, or supplier to, the Company or any of its affiliates (excluding for such purposes Parent and its affiliates for periods prior to the Closing) and (ii) the Trustees shall not other than indirectly through mutual funds or of record by the Trust, own any stock or securities of the Company, Parent or Wesco Financial Corporation. (b) The Trust shall not appoint any person as a Trustee who is employed by the Company or any of its affiliates (determined as of the date of which such relationship is tested) in any capacity. (c) For the purpose of appointing only persons whose appointment as Trustee will result in a majority of Trustees continuing to be independent from the Company and its affiliates, the Trust and the Company shall consult in good faith as to whether any candidate for appointment as a Trustee is on the date on which such relationship is tested affiliated with an entity that is a significant customer of, or supplier to, the Company or any of its affiliates (determined on the date on which such relationship is tested). (d) Parent shall provide to the Trust from time to time, such information as the Trust shall reasonably request in connection with fulfilling its covenants set forth in subsections (b) and (c) above. ARTICLE III
Trustee Independence. The Trustees shall not, during the term of their service, hold a financial interest in, act as attorney or agent for, or serve as an officer or as any other professional for the Reorganized Debtors. Notwithstanding the foregoing, the Trustees may serve, without any additional compensation other than the compensation to be paid by the Talc Trust pursuant to Section 4.5(a) above, as a director of the Reorganized Debtors. The Trustees shall not act as an attorney, agent, or other professional for any person who holds a Talc Claim. For the avoidance of doubt, this Section shall not be applicable to the Delaware Trustee.
Trustee Independence. The Trustee shall not, during the term of its service, hold a financial interest in, act as attorney or agent for, or serve as an officer or as any other professional for the Debtors. The Trustee shall not be a director, officer, employee, agent, or participant in any NAS Abatement Program which may be funded by the NAS Monitoring Trust, and the Trustee shall not receive or derive, directly or indirectly, any money or economic benefit therefrom. This limitation shall apply irrespective of whether the conduct of any such unauthorized business, enterprise, objective, or purpose is deemed by the Trustee to be necessary or proper for the operation, administration, conservation or protection of the NAS Monitoring Trust. For the avoidance of doubt, this Section shall not be applicable to the Delaware Trustee.
Trustee Independence. (a) After the Closing, (i) the Trustees shall not be affiliated with an entity that immediately prior to the Closing is a significant customer of, or supplier to, the Company or any of its affiliates (excluding for such purposes Parent and its affiliates for periods prior to the Closing) and (ii) the Trustees shall not other than indirectly through mutual funds or of record by the Trust, own any stock or securities of the Company, Parent or Wesco Financial Corporation.
