No Self Dealing Clause Samples
The No Self-Dealing clause prohibits parties involved in an agreement from engaging in transactions that benefit themselves at the expense of the other party or the entity as a whole. In practice, this means that individuals such as directors, officers, or employees cannot use their position to secure favorable deals, contracts, or financial advantages for themselves or their affiliates. This clause is essential for maintaining fairness and integrity in business relationships, as it helps prevent conflicts of interest and ensures that all decisions are made in the best interest of the organization or partnership.
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No Self Dealing. Due in-part to the public funding provided in this Agreement, no KCAT Board Member may be financially interested in any contract, expenditure, purchase, or grant made by KCAT. KCAT employees are likewise excluded from any financial interest in any contract, expenditure, purchase, or grant by or from KCAT. For the purpose of this section, financial interest shall be determined pursuant to Government Code 1090, et. seq.
No Self Dealing. The Trustees will not (1) deal with the assets of the Trust Fund in their own interest or for their own account; (2) in their individual or in any other capacity, act in any transaction involving the Trust Fund on behalf of a party (or represent a party) whose -interests are adverse to the interests of the Plan, or its Participants or Beneficiaries; or (3) receive any consideration for their own 54 personal accounts from any party dealing with the Plan in connection with a transaction involving assets of the Trust Fund.
No Self Dealing. The corporation will not engage in any act of self-dealing as defined in Section 4941(d) of the Internal Revenue Code of 1986, or the corresponding section of any future federal tax code.
No Self Dealing. The Custodian will not (1) deal with the assets of the Custodial Accounts Fund in their own interest or for their own account; (2) in their individual or in any other capacity, act in any transaction involving the Custodial Accounts Fund on behalf of a party (or represent a party) whose interests are adverse to the interests of the Plan, or its Participants or Beneficiaries; or (3) receive any consideration for their own personal accounts from any party dealing with the Plan in connection with a transaction involving assets of the Custodial Accounts Fund.
No Self Dealing. A Party shall not use a Subcontractor or Sublicensee for activities that are subject to cost-sharing hereunder if the management, or one or more principals or significant shareholders of such Party (or its Affiliate) have a material economic interest in the Subcontractor or Sublicensee, without the other Party’s prior written consent. All contracts with Subcontractors and/or Sublicensees shall be on arms’-length terms.