Common use of Exculpation Among Investors and Holders Clause in Contracts

Exculpation Among Investors and Holders. Each Investor --------------------------------------- acknowledges that it is not relying upon any other Investor, or any officer, director, employee, agent, partner or affiliate of any such other Investor, in making its investment or decision to invest in the Company or in monitoring such investment. Each Investor agrees that no Investor nor any controlling person, officer, director, stockholder, partner, agent or employee of any Investor shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them relating to or in connection with the Company or the Securities, or both. Without limiting the generality of the foregoing, no Investor (nor any of its affiliates, officers, directors, stockholders, partners, agents or employees) or other Holder of any Security shall have any obligation, liability or responsibility whatsoever for the accuracy, completeness or fairness of any or all information about the Company or any Subsidiary or their respective properties, business or financial and other affairs, acquired by such Investor or Holder from the Company or the respective officers, directors, employees, agents, representatives, counsel or auditors of either, and in turn provided to another Investor or Holder, nor shall any such Investor (or such other Person) have any obligation or responsibility whatsoever to provide any such information to any other Investor (or such other Person) or Holder or to continue to provide any such information if any information is provided.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Protein Polymer Technologies Inc), Securities Purchase Agreement (Protein Polymer Technologies Inc), Securities Purchase Agreement (Protein Polymer Technologies Inc)

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Exculpation Among Investors and Holders. Each Investor --------------------------------------- acknowledges that it is not relying upon any other Investor, or any officer, director, employee, agent, partner or affiliate Affiliate of any such other Investor, in making its investment or decision to invest in the Company or in monitoring such investment. Each Investor agrees that no Investor nor any controlling person, officer, director, stockholder, partner, agent or employee of any Investor shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them relating to or in connection with the Company or the Securities, or both. Without limiting the generality of the foregoing, no Investor (nor any of its affiliatesAffiliates, officers, directors, stockholders, partners, agents or employees) or other Holder holder of any Security shall have any obligation, liability or responsibility whatsoever for the accuracy, completeness or fairness of any or all information about the Company or any Subsidiary or their respective properties, business or financial and other affairs, acquired by such Investor or Holder holder from the Company or any Subsidiary or the respective officers, directors, employees, agents, representatives, counsel or auditors of either, and in turn provided to another Investor or Holderholder, nor shall any such Investor (or such other Person) have any obligation or responsibility whatsoever to provide any such information to any other Investor (or such other Person) or Holder holder or to continue to provide any such information if any information is provided.

Appears in 1 contract

Samples: Securities Purchase Agreement (New Visual Entertainment Inc)

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