Common use of Debtor-Creditor Relationship Clause in Contracts

Debtor-Creditor Relationship. The relationship between the Lender, on the one hand, and the Borrowers, on the other hand, is solely that of creditor and debtor. The Lender shall not have (or shall not be deemed to have) any fiduciary relationship or duty to the Borrowers arising out of or in connection with the Loan Documents or the transactions contemplated thereby, and there is no agency or joint venture relationship between the Lender, on the one hand, and the 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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Debtor-Creditor Relationship. The relationship between the Lender, on the one hand, and the BorrowersBorrower, on the other hand, is solely that of creditor and debtor. The Lender shall does not have (or shall not be deemed to have) any fiduciary relationship or duty to the Borrowers Borrower arising out of or in connection with the Loan Documents or the transactions contemplated thereby, and there is no agency or joint venture relationship between the Lender, on the one hand, and the BorrowersBorrower, 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 LenderLenders, on the one hand, and the Borrowers, Borrower on the other hand, is solely that of creditor and debtor. The No Lender shall not have has (or shall not be deemed to have) any fiduciary relationship or duty to the Borrowers Borrower arising out of or in connection with the Loan Documents or the transactions contemplated therebywith, and there is no agency or joint venture relationship between the LenderLenders, on the one hand, and the BorrowersBorrower, 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 LenderLenders and Agent, on the one hand, and the BorrowersBorrower, on the other hand, is solely that of creditor and debtor. The No member of the Lender shall not have Group has (or shall not be deemed to have) any fiduciary relationship or duty to the Borrowers Borrower arising out of or in connection with the Loan Documents or the transactions contemplated therebywith, and there is no agency or joint venture relationship between the Lendermembers of the Lender Group, on the one hand, and the BorrowersBorrower, 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 Lender, on the one hand, and the BorrowersBorrower, on the other hand, is solely that of creditor and debtor. The Lender shall not have (or and shall not be deemed to have) any fiduciary relationship or duty to the Borrowers Borrower arising out of or in connection with the Loan Documents or the transactions contemplated thereby, and there is no agency or joint venture relationship between the Lender, on the one hand, and the BorrowersBorrower, 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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