Contractual Independence Clause Samples

Contractual Independence. During the term of probation, the TPA shall not directly own any stock in CARNIVAL and must have no other ongoing contractual or business relationship, other than that of the TPA, with CARNIVAL, and may not seek or serve in other capacities with CARNIVAL, unless first disclosed to the Interested Parties, the Court, and the CAM, and unless expressly approved by the Interested Parties. The TPA must exercise independent judgment and ensure that the objectives set forth in this ECP are met. CARNIVAL and the TPA shall notify the Interested Parties if any contractual relationships or proposed contractual relationships between CARNIVAL and the TPA arise during the term of probation.