Independent Person definition
Examples of Independent Person in a sentence
Any disputes about whether the Funding Condition is satisfied or the amount of the Financial Resource may be referred by either the Landlord or the Tenant to an Independent Person in accordance with clause 11 of this Agreement.
Any arbitrator designated by the Administrators or the Sub-Administrator/Accounting Agent must be an "Independent Person".
An "Independent Person" shall be an individual who is not and has not been (i) a director, officer, employee, agent or shareholder of any party hereto, (ii) a consultant to any party hereto, (iii) a person with a direct or indirect financial interest in any contract with either party hereto, (iv) a director, officer or key employee of a company at a time when such company was party to a contract with either party hereto, or (v) a relative of any person referred to in clauses (i), (ii), (iii) or (iv) above.
The Independent Person for standards of Members’ Conduct will be paid an annual allowance of £1,000, in monthly instalments.
No resignation or removal of an Independent Person shall be effective until a successor Independent Person has been elected to replace such Independent Person.