19NO JOINT VENTURE Sample Clauses
The "No Joint Venture" clause explicitly states that the agreement does not create a joint venture, partnership, or similar relationship between the parties. In practice, this means that each party remains independent and is not authorized to act on behalf of the other, nor do they share profits, losses, or liabilities as partners would. This clause is essential for clarifying the legal relationship, preventing misunderstandings, and ensuring that neither party is inadvertently exposed to additional obligations or risks associated with a joint venture.
19NO JOINT VENTURE. THE RELATIONSHIP OF BORROWER AND LENDER IS THAT OF DEBTOR AND CREDITOR, AND IT IS NOT THE INTENTION OF EITHER OF SUCH PARTIES BY THIS OR ANY OTHER LOAN DOCUMENT BEING EXECUTED IN CONNECTION WITH THE LOAN TO ESTABLISH A PARTNERSHIP OR JOINT VENTURE WITH BORROWER OR ANY OTHER PERSON, AND THE PARTIES HERETO SHALL NOT UNDER ANY CIRCUMSTANCES BE CONSTRUED TO BE PARTNERS OR JOINT VENTURERS.
19NO JOINT VENTURE. THE RELATIONSHIP OF BORROWER AND ADMINISTRATIVE AGENT AND EACH LENDER IS THAT OF DEBTOR AND CREDITOR, AND IT IS NOT THE INTENTION OF EITHER OF SUCH PARTIES BY THIS OR ANY OTHER LOAN DOCUMENT BEING EXECUTED IN CONNECTION WITH THE LOAN TO ESTABLISH A PARTNERSHIP OR JOINT VENTURE WITH BORROWER OR ANY OTHER PERSON, AND THE PARTIES HERETO SHALL NOT UNDER ANY CIRCUMSTANCES BE CONSTRUED TO BE PARTNERS OR JOINT VENTURERS.