Common use of Conflict of Interest Includes Clause in Contracts

Conflict of Interest Includes. For the purposes of this Agreement, a “Conflict of Interest” includes: (a) in relation to the process of applying the Funds, any circumstances where L.I.P.I. has or could be perceived to have engaged in conduct that gives one applicant to the Program an unfair advantage over another applicant. (b) in relation to the performance of its obligations under the Agreement, any circumstances where L.I.P.I. (or any person who has the ability to influence L.I.P.I.’s decisions) has outside commitments, relationships or financial interests that interfere with, or could, or could be seen to interfere with, L.I.P.I.’s unbiased and impartial judgment relating to the Program and the use of the Funds.