Common use of Debtor-Creditor Relationship Clause in Contracts

Debtor-Creditor Relationship. The relationship between the Lenders and Agent, on the one hand, and the Loan Parties, on the other hand, is solely that of creditor and debtor. Any member of the Lender Group or their respective Affiliates (collectively, solely for purposes of this paragraph, the “Lender Parties”), may have economic interests that conflict with those of the Loan Parties, their respective stockholders and/or their respective affiliates. Each Loan Party agrees that nothing in the Loan Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Lender Party, on the one hand, and any Loan Party, its stockholders or its affiliates, on the other. The Loan Parties acknowledge and agree that (a) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Lender Party, on the one hand, and each Loan Party, on the other, and (b) in connection therewith and with the process leading thereto, (i) no Lender Party has assumed an advisory or fiduciary responsibility or duty in favor of any Loan Party, its stockholders or its affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender Party has advised, is currently advising or will advise such Loan Party, its stockholders or its Affiliates on other matters) or any other obligation to such Loan Party except the obligations expressly set forth in the Loan Documents, (ii) each Lender Party is acting solely as principal and not as the agent or fiduciary of such Loan Party, its management, stockholders, creditors or any other Person and (iii) there is no agency or joint venture relationship between any Lender Party, on the one hand, and the Loan Parties, on the other hand, by virtue of any Loan Document or any transaction contemplated therein. Each Loan Party acknowledges and agrees that such Loan Party has consulted its own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. Each Loan Party agrees that it will not claim that any Lender Party has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to such Loan Party, in connection with such transaction or the process leading thereto.

Debtor-Creditor Relationship. The Agent-Related Persons, each Lender and their Affiliates may have economic interests that conflict with those of the Loan Parties, their stock holders, or their Affiliates. The relationship between the Lenders and Agent, on the one hand, and the Loan Parties, on the other hand, is solely that of creditor and debtor. Any No member of the Lender Group has (or their respective Affiliates (collectively, solely for purposes of this paragraph, the “Lender Parties”), may have economic interests that conflict with those of the Loan Parties, their respective stockholders and/or their respective affiliates. Each shall be deemed to have) any fiduciary relationship or duty to any Loan Party agrees that nothing arising out of or in connection with the Loan Documents or otherwise will be deemed to create an advisorythe transactions contemplated thereby, fiduciary and there is no agency or agency joint venture relationship or fiduciary or other implied duty between any the members of the Lender PartyGroup, on the one hand, and any the Loan Party, its stockholders or its affiliatesParties, on the otherother hand, by virtue of any Loan Document or any transaction contemplated therein. The Loan Parties acknowledge and agree that (ai) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Lender PartyLenders, on the one hand, and each the Loan PartyParties, on the other, and (bii) in connection therewith and with the process leading thereto, (ix) no Lender Party has assumed an advisory or fiduciary responsibility or duty in favor of any Loan Party, its stockholders or its affiliates Affiliates with respect to the transactions contemplated hereby (or the exercise of rights or and remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender Party has advised, is currently advising or will advise such any Loan Party, its stockholders or its Affiliates on other matters) or any other obligation to such any Loan Party except the obligations expressly set forth in the Loan Documents, Documents and (iiy) each Lender Party is acting solely as principal and not as the agent or fiduciary of such any Loan Party, its management, stockholders, creditors creditors, or any other Person and (iii) there is no agency or joint venture relationship between any Lender Party, on the one hand, and the Loan Parties, on the other hand, by virtue of any Loan Document or any transaction contemplated thereinPerson. Each Loan Party acknowledges and agrees that such Loan Party it has consulted its own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. Each Loan Party agrees that it will not claim that any Lender Party has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to such Loan Partyparty, in connection with such transaction or the process leading thereto.