Example ContractsClausesIndependent Manager
Independent Manager
Independent Manager contract clause examples

Independent Manager” means a natural person who (A) for the five-year period prior to his or her appointment as Independent Manager of the Seller has not been, and during the continuation of his or her service as Independent Manager of the Seller is not: (i) an employee, director, stockholder, member, manager, partner or officer of the Seller or any other Chemours Party or any of their respective Subsidiaries (other than his or her service as an Independent Manager of the Seller); (ii) a customer or supplier of the Seller or any other Chemours Party or any of their respective Subsidiaries (other than his or her service as an Independent Manager of the Seller); or (iii) any member of the immediate family of a person described in (i) or (ii); and (B) has (i) prior experience as an Independent Manager for a corporation or limited liability company

Independent Manager” means an individual who has prior experience as an independent manager, independent director or independent member with at least three (3) years of employment experience and who is provided by CT Corporation, Corporation Service Company, National Registered Agents, Inc., Wilmington Trust Company, Stewart Management Company, Lord Securities Corporation or, if none of those companies is then providing professional Independent Managers, another nationally-recognized company reasonably approved by Administrative Agent, in each case that is not an Affiliate of the Borrowers and that provides professional Independent Managers and other corporate services in the ordinary course of its business, and which individual is duly appointed as an Independent Manager of the Borrowers and/or Managing Member and is not, and has never been, and will not while serving as Independent Manager be, any of the following:

Independent Manager” means the Person holding the Independent Manager position as provided for in the applicable Loan Party’s limited liability company agreement.

Independent Manager” has the meaning set forth in the Operating Agreement.

Independent Manager” has the meaning set forth in the Chinos SPV LLC Agreement.

Independent Manager” means a Manager who (a) is not an employee of a member of the Company of any of its subsidiaries and; (b) in the judgment of the appointing Members, has experience that is relevant to the industry in which the Company operates.

Independent Manager. Borrower shall at all times have at least one independent member of its board of managers (an “Independent Member”) who has not been at any time during the five (5) years preceding its initial designation:

Independent Manager. Not fewer than one member of the Borrower’s board of managers (the “Independent Manager”) shall be a natural person who (A) for the five-year period prior to his or her appointment as Independent Manager of the Company has not been, and during the continuation of his or her service as Independent Manager of the Company is not: (i) an employee, director, equityholder, member, manager, partner or officer of the Company or any of its Affiliates (other than his or her service as an Independent Manager of the Company or such Affiliate); (ii) a customer or supplier of the Company or any of its Affiliates who derives a majority of its purchases or revenues from its activities with the Company or its Affiliates (other than revenues derived from his or her service as an Independent Manager of the Company); or (iii) any member of the immediate family of a person described in (i) or (ii); and (B) has (i) prior experience as an independent director for a corporation or limited liability company whose organizational or charter documents required the unanimous consent of all independent directors thereof before such corporation or limited liability company could consent to the institution of bankruptcy or insolvency proceedings against it or could file a petition seeking relief under any applicable federal or state law relating to bankruptcy and (ii) at least three years of employment experience with one or more entities that provide, in the ordinary course of their respective businesses, advisory, management or placement services to issuers of securitization or structured finance instruments, agreements or securities.

Independent Manager” means the Person holding the Independent Manager position as provided for in the applicable Loan Party’s limited liability company agreement.

Independent Manager” has the meaning set forth in Section 8.03(c).

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.