Common use of Independent Clause in Contracts

Independent. When used with respect to any Accountants, a Person who is “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

Appears in 34 contracts

Samples: Pooling and Servicing Agreement (First NLC Securitization, Inc.), Pooling and Servicing Agreement (Sequoia Mortgage Trust 2007-2), Pooling and Servicing Agreement (Sequoia Mortgage Trust 2013-8)

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Independent. When used with respect to any Accountantsaccountants, a Person who is “independent” within the meaning of Rule 2-01(b01(B) of the Securities and Exchange Commission’s Regulation S-X. When Independent means when used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate affiliate of such other Person, (b) does not have any material direct or indirect financial interest in such other Person or any Affiliate affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate affiliate of such other Person as an officer, employee, promoter, underwriter, trust administrator, trustee, partner, director or Person performing similar functionsfunctions and (d) is not a member of the immediate family of a Person defined clause (b) or (c) above.

Appears in 19 contracts

Samples: Pooling and Servicing Agreement (MASTR Second Lien Trust 2006-1), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Pooling and Servicing Agreement (MASTR Asset Securitization Trust 2006-1)

Independent. When used with respect to any Accountants, a Person who is "independent" within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s 's Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

Appears in 19 contracts

Samples: Custodial Agreement (Structured Asset Securities Corp Mort Back Notes Ser 2002 9), Pooling and Servicing Agreement (Sequoia Mortgage Trust 2004-10), Pooling and Servicing Agreement (MERRILL LYNCH MORT INV TRUST SERIES MLCC Series 2005-1)

Independent. When used with respect to any Accountants, a Person who is “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-3), Transfer and Servicing Agreement (Aegis Asset Backed Securities Corp), Transfer and Servicing Agreement (Aegis Asset Backed Securities Trust 2005-1)

Independent. When used with respect to any Accountantsaccountants, a Person who is “independent” within the meaning of Rule 2-01(b01(B) of the Securities and Exchange Commission’s Regulation S-X. When Independent means, when used with respect to any other Person, a Person who (aA) is in fact independent of another specified Person and any Affiliate affiliate of such other Person, (bB) does not have any material direct or indirect financial interest in such other Person or any Affiliate affiliate of such other Person, and (cC) is not connected with such other Person or any Affiliate affiliate of such other Person as an officer, employee, promoter, underwriter, trusteesecurities administrator, partner, director or Person performing similar functionsfunctions and (D) is not a member of the immediate family of a Person defined in clause (B) or (C) above.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (SACO I Trust 2006-5), Pooling and Servicing Agreement (SACO I Trust 2006-5), Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Im1)

Independent. When used with respect to any Accountantsaccountants, a Person who is “independent” within the meaning of Rule 2-01(b01(B) of the Securities and Exchange Commission’s Regulation S-X. When Independent means, when used with respect to any other Person, a Person who (aA) is in fact independent of another specified Person and any Affiliate of such other Person, (bB) does not have any material direct or indirect financial interest in such other Person or any Affiliate of such other Person, and (cC) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functionsfunctions and (D) is not a member of the immediate family of a Person defined in clause (B) or (C) above.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2007-He1), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff1), Pooling and Servicing Agreement (Hasco 2006-Opt3)

Independent. When used with respect to any Accountants, a Person who is "independent" within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s 's Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2006-1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series MLCC 2006-2), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2006-3)

Independent. When used with respect to any Accountants, a Person who is “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions, and (d) is not a member of the immediate family of a Person defined in clause (b) or (c) above.

Appears in 3 contracts

Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)

Independent. When used with respect to any Accountants, a Person who is “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions, and (d) is not a member of the immediate family of a Person defined in clause (b) or (c) above.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)

Independent. When used with respect to any Accountantsaccountants, a Person who is “independent” within the meaning of Rule 2-01(b01(B) of the Securities and Exchange Commission’s Regulation S-X. When X; when used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate affiliate of such other Person, (b) does not have any material direct or indirect financial interest in such other Person or any Affiliate affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate affiliate of such other Person as an officer, employee, promoter, underwriter, trust administrator, trustee, partner, director or Person performing similar functionsfunctions and (d) is not a member of the immediate family of a Person defined in clause (b) or (c) above.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MASTR Alternative Loan Trust 2007-1)

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Independent. When used with respect to any Accountants, a Person who is “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions. Individual Redemption Certificate: Not applicable.

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Securities CORP Mortgage Pass-Through Certificates, Series 2004-13)

Independent. When used with respect to any AccountantsIndependent Public Accountant, a Person who is “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functionsfunctions and (d) is not a member of the immediate family of a Person defined in clause (b) or (c) above.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bayview 2006-B)

Independent. When used with respect to any Accountantsaxx Xxcountants, a Person who is "independent" within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s 's Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Sequoia Mortgage Trust 2005-4)

Independent. When used with respect to any Accountantsaccountants, a Person who is “independent” within the meaning of Rule 2-01(b01(B) of the Securities and Exchange Commission’s Regulation S-X. When Independent means, when used with respect to any other Person, a Person who (aA) is in fact independent of another specified Person and any Affiliate affiliate of such other Person, (bB) does not have any material direct or indirect financial interest in such other Person or any Affiliate affiliate of such other Person, and (cC) is not connected with such other Person or any Affiliate affiliate of such other Person as an officer, employee, promoter, underwriter, trusteeSecurities Administrator, partner, director or Person performing similar functionsfunctions and (D) is not a member of the immediate family of a Person defined in clause (B) or (C) above.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (SACO I Trust 2006-2)

Independent. When used with respect to any AccountantsIndependent Public Accountant, a Person who is “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bayview Financial Mortage Pass-Through Trust 2005-D)

Independent. When used with respect to any Accountants, a Person who is “independent” within the meaning of Rule 2-2 01(b) of the Securities and Exchange Commission’s Regulation S-S X. When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Merrill Lynch Mort Inv Fieldstone Mort Inv Tr Ser 2004-1)

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