Common use of Debtor-Creditor Relationship Clause in Contracts

Debtor-Creditor Relationship. The relationship between the Lenders and Agent, on the one hand, and Borrower, on the other hand, is solely that of creditor and debtor. No member of the Lender Group has (or shall be deemed to have) any fiduciary relationship or duty to Borrower arising out of or in connection with, and there is no agency or joint venture relationship between the members of the Lender Group, on the one hand, and Borrower, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

Appears in 1 contract

Samples: Credit Agreement (Teltronics Inc)

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Debtor-Creditor Relationship. The relationship between the Lenders and AgentLenders, on the one hand, and Borrower, the Borrower on the other hand, is solely that of creditor and debtor. No member of the Lender Group has (or shall be deemed to have) any fiduciary relationship or duty to the Borrower arising out of or in connection with, and there is no agency or joint venture relationship between the members of the Lender GroupLenders, on the one hand, and the Borrower, on the other hand, by virtue of any Loan Document this Agreement or any transaction contemplated therein.

Appears in 1 contract

Samples: Subordinated Loan Agreement (Globalstar, Inc.)

Debtor-Creditor Relationship. The relationship between the Lenders and AgentLender, on the one hand, and Borrowerthe Loan Parties, on the other hand, is solely that of creditor and debtor. No member of the Lender Group has does not have (or nor shall be deemed to have) any fiduciary relationship or duty to Borrower any Loan Party arising out of or in connection withwith the Loan Documents or the transactions contemplated thereby, and there is no agency or joint venture relationship between the members of the Lender GroupLender, on the one hand, and Borrowerthe Loan Parties, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

Appears in 1 contract

Samples: Credit Agreement (Neophotonics Corp)

Debtor-Creditor Relationship. The relationship between the Lenders and AgentLender, on the one hand, and the Borrower, on the other hand, is solely that of creditor and debtor. No member of the Lender Group has shall not have (or and shall not be deemed to have) any fiduciary relationship or duty to Borrower arising out of or in connection withwith the Loan Documents or the transactions contemplated thereby, and there is no agency or joint venture relationship between the members of the Lender GroupLender, on the one hand, and the Borrower, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

Appears in 1 contract

Samples: Credit and Security Agreement (U.S. Well Services, LLC)

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Debtor-Creditor Relationship. The relationship between the Lenders and AgentLender, on the one hand, and Borrower, on the other hand, is solely that of creditor and debtor. No member of the Lender Group has does not have (or shall be deemed to have) any fiduciary relationship or duty to Borrower arising out of or in connection withwith the Loan Documents or the transactions contemplated thereby, and there is no agency or joint venture relationship between the members of the Lender GroupLender, on the one hand, and Borrower, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

Appears in 1 contract

Samples: Loan and Security Agreement (Vystar Corp)

Debtor-Creditor Relationship. The relationship between the Lenders and AgentLender, on the one hand, and Borrowerthe Borrowers, on the other hand, is solely that of creditor and debtor. No member of the The Lender Group has shall not have (or shall not be deemed to have) any fiduciary relationship or duty to Borrower the Borrowers arising out of or in connection withwith the Loan Documents or the transactions contemplated thereby, and there is no agency or joint venture relationship between the members of the Lender GroupLender, on the one hand, and Borrowerthe Borrowers, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntington Funds)

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