Independent Member definition

Independent Member of the board means a member of the board who has no business, family or other relationship that raises a conflict of interests regarding the CCP concerned or its controlling shareholders, its management or its clearing members, and who has had no such relationship during the five years preceding his membership of the board;

Independent Member means a member of any committee who has no material relationship with the Company or any affiliate of the Company, or any Exchange Member or any affiliate of any such Exchange Member, other than as a committee member. The term Independent member may but is not required to refer to an Independent Director who serves on a committee.

Independent Member means a member of the Board who is not connected with the management of any establishment or who is not an employee and includes an officer of Government nominated as a members;

Examples of Independent Member in a sentence

• In particular, no operational responsibilities will be placed upon any Independent Member fulfilling such a role.

• The Board of Directors, after each annual meeting of the stockholders, shall elect a Chair of the Board of Directors who shall be an Independent Member (as defined above) of the Board of Directors.

• In the absence of the appointed Chair, the Committee will be chaired by the other Independent Member, and in the absence of both Independent Members will be chaired as determined by the Committee.

• Independent and Co-opted members: An allowance per meeting is payable to the Independent person appointed under the Localism Act 2012 and to the co-optees on the Standards Committee, the Audit Committee and to the Children’s Services Scrutiny Committee and the Pension Board Independent Member.

• The quorum for the Standards Committee shall be three (and in relation to the matters referred to in Article 9.3 f), g), h), i) and k) of whom at least one must be an Independent Member, who is not prevented or restricted from participating by virtue of the Council’s Code of Conduct).

More Definitions of Independent Member

Independent Member means a Person who is not and will not be while serving and has never been (i) a member (other than an Independent Member), manager (other than an Independent Manager), director (other than an Independent Director), employee, attorney, or counsel of any Borrower or its Affiliates (provided that Mezzanine Borrower may not have the same Independent Directors, Independent Managers or Independent Members as Mortgage Borrower), (ii) a customer, supplier or other Person who derives more than 1% of its purchases or revenues from its activities with any Borrower or its Affiliates, (iii) a direct or indirect legal or beneficial owner in any entity referred to in (i) or (ii) above or any of its Affiliates, (iv) a member of the immediate family of any member, manager, employee, attorney, customer, supplier or other Person referred to in (i), (ii) or (iii) above or (v) a person Controlling or under the common Control of anyone listed in (i) through (iv) above. A Person that otherwise satisfies the foregoing shall not be disqualified from serving as an Independent Director or Independent Manager or Independent Member if such individual is at the time of initial appointment, or at any time while serving as such, is an Independent Director or Independent Manager or Independent Member, as applicable, of a Single Purpose Entity affiliated with Mezzanine Borrower (other than an Independent Director or Independent Manager or Independent Member of Mortgage Borrower).

Independent Member means a natural person who is not at the time of initial appointment as a director, manager or member or at any time while serving as a director, member or manager of the Borrower and has not been at any time during the five (5) years preceding such initial appointment:

Independent Member. The meaning specified in Section 4.1(u)(xxv).

Independent Member means the independent member of the Committee appoint- ed by the ATP Board of Directors by a super majority vote to serve on the Committee for a 3-year term. The Independent Member is subject to removal at any time by the ATP Board of Directors by a super majority vote.

Independent Member shall have the meaning set forth in Section 5.08.

Independent Member means (a) a member of the Standards Committee who is not an elected councillor or (b) a co-opted member of an Overview and Scrutiny Committee, or the Audit and Governance Committee who is not an elected councillor;

Independent Member means, with respect to any board of directors of a company, a member who is not an officer or employee of such company and is otherwise “independent” as defined by the New York Stock Exchange’s listing requirements and, in connection with any transaction, a member of such board of directors who is disinterested with respect to such transaction.