Common use of Separation Requirements Clause in Contracts

Separation Requirements. The Seller shall ensure that the Seller and the Project Owner will be treated for all purposes as a separate Person in its dealings from all other Persons (including Vale), including by ensuring that the Seller and the Project Owner will, (i) maintain books and records separate from any other Person; (ii) maintain its accounts separate from those of any other Person; (iii) conduct its own business in its own name; (iv) maintain separate financial statements or records; (v) pay any liabilities out of its own funds; (vi) use separate invoices and cheques; (vii) hold itself out as a separate Person; (viii) correct any known misunderstanding regarding its separate identity; and (ix) engage in dealings with its Affiliates in a manner that respects its separate corporate identity.