Common use of Independent Nature of Holders’ Obligations and Rights Clause in Contracts

Independent Nature of Holders’ Obligations and Rights. The obligations of the Holder under this Agreement are several and not joint with the obligations of any other holder of securities of the Company (each, an “Other Holder”), and the Holder shall not be responsible in any way for the performance of the obligations of any Other Holder under any other agreement by and between the Company and any Other Holder (each, an “Other Agreement”). Nothing contained herein or in any Other Agreement, and no action taken by the Holder pursuant hereto, shall be deemed to constitute the Holder and Other Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holder and Other Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreement and the Company acknowledges that, to the best of its knowledge, the Holder and the Other Holders are not acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreement. The Company and the Holder confirm that the Holder has independently participated in the negotiation of the transactions contemplated hereby with the advice of its own counsel and advisors. The Holder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any Other Holder to be joined as an additional party in any proceeding for such purpose.

Appears in 8 contracts

Samples: Warrant Repurchase Agreement (Toughbuilt Industries, Inc), Exchange Agreement (NextPlay Technologies Inc.), Settlement Agreement (GT Biopharma, Inc.)

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Independent Nature of Holders’ Obligations and Rights. The obligations of the Holder under this Agreement are several and not joint with the obligations of any other holder of securities of the Company (each, an “Other Consenting Holder”), and the Holder shall not be responsible in any way for the performance of the obligations of any Other other Consenting Holder under any other agreement by Standstill Agreement, as amended and between the Company and any Other Holder (each, an “Other Agreement”)restated. Nothing contained herein or in any Other other Standstill Agreement, as amended and restated, and no action taken by the Holder pursuant hereto, shall be deemed to constitute the Holder and Other other Consenting Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holder and Other other Consenting Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other other Standstill Agreement and the Company acknowledges that, to the best of its knowledge, the Holder and the Other other Consenting Holders are not acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other other Consenting Agreement. The Company and the Holder confirm that the Holder has independently participated in the negotiation of the transactions contemplated hereby with the advice of its own counsel and advisors. The Holder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any Other other Consenting Holder to be joined as an additional party in any proceeding for such purpose.

Appears in 2 contracts

Samples: Series a Warrant Standstill Agreement (Healthier Choices Management Corp.), Series a Warrant Standstill Agreement (Vapor Corp.)

Independent Nature of Holders’ Obligations and Rights. The obligations of the Holder under this Agreement are several and not joint with the obligations of any other holder of securities of the Company Notes (each, an “Other Holder”), and the Holder shall not be responsible in any way for the performance of the obligations of any Other Holder under any exchange agreement or other agreement by and between the Company and any such Other Holder (if any, each, an “Other Agreement”). Nothing contained herein or in any Other Agreement, and no action taken by the Holder pursuant hereto, shall be deemed to constitute the Holder and Other Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Holder and Other Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreement and the Company acknowledges that, to the best of its knowledge, the Holder and the Other Holders are not acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreement. The Company and the Holder confirm that the Holder has independently participated in the negotiation of the transactions contemplated hereby with the advice of its own counsel and advisors. The Holder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any Other Holder to be joined as an additional party in any proceeding for such purpose.

Appears in 1 contract

Samples: Amendment and Exchange Agreement (Cosmos Holdings Inc.)

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Independent Nature of Holders’ Obligations and Rights. The obligations of the each Holder under this Agreement are several and not joint with the obligations of any other Holder or any holder of securities of the Company any Existing Securities that is not signatory to this Agreement (each, an “Other Holder”), and the such Holder shall not be responsible in any way for the performance of the obligations of any other Holder or Other Holder under any such other agreement by and between the Company and any Other Holder (each, an “Other Agreement”)agreement. Nothing contained herein or in any Other this Agreement, and no action taken by the Holder pursuant hereto, shall be deemed to constitute such Holder, the Holder and Holders or Other Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that such Holder, the Holder Holders and the Other Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreement and the Company acknowledges that, to the best of its knowledgethat such Holder, the Holder Holders and the Other Holders are not acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreementother agreement. The Company and the each Holder confirm that the such Holder has independently participated in the negotiation of the transactions contemplated hereby with the advice of its own counsel and advisors. The Each Holder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Holder or Other Holder to be joined as an additional party in any proceeding for such purpose.

Appears in 1 contract

Samples: Exchange Agreement (Iconic Brands, Inc.)

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