Independent Nature of Members’ Obligations and Rights. The obligations of each Member under this Agreement are several and not joint with the obligations of any other Member, and no Member shall be responsible in any way for the performance of the obligations of any other Member under this Agreement. The decision of each Member to acquire Shares pursuant to this Agreement has been made by such Member independently of any other Member. Nothing contained herein, and no action taken by any Member pursuant hereto, shall be deemed to constitute the Member as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Member is in any way acting in concert or as a group with respect to such obligations or the transactions contemplated herein. Each Member acknowledges that no other Member has acted as agent for such Member in connection with making its investment hereunder and that no Member will be acting as agent of such Member in connection with monitoring its investment in the Shares or enforcing its rights under this Agreement. Each Member 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 Member to be joined as an additional party in any proceeding for such purpose. Each of the Company and Parent acknowledge that the Members have been provided with this same Agreement for the purpose of closing a transaction with multiple Members and not because it was required or requested to do so by any Member.
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Samples: Unit Exchange Agreement (ComHear, Inc.), Unit Exchange Agreement (Playbutton Acquisition Corp.), Unit Exchange Agreement (Tablemax Corp)
Independent Nature of Members’ Obligations and Rights. The obligations of each Member under this Agreement are several and not joint with the obligations of any other Member, and no Member shall be responsible in any way for the performance of the obligations of any other Member under this Agreement. The decision of each Member to acquire Shares pursuant to this Agreement has been made by such Member independently of any other Member. Nothing contained herein, and no action taken by any Member pursuant hereto, shall be deemed to constitute the Member Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Member is Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated herein. Each Member acknowledges that no other Member has acted as agent for such Member in connection with making its investment hereunder and that no Member will be acting as agent of such Member in connection with monitoring its investment in the Shares or enforcing its rights under this Agreement. Each Member 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 Member to be joined as an additional party in any proceeding for such purpose. Each of the Company and the Parent acknowledge that each of the Members have has been provided with this same Agreement for the purpose of closing a transaction with multiple Members and not because it was required or requested to do so by any Member.
Appears in 2 contracts
Samples: Share Exchange Agreement (Rio Bravo Oil, Inc.), Share Exchange Agreement (Rio Bravo Oil, Inc.)
Independent Nature of Members’ Obligations and Rights. The obligations of each Member under this Agreement hereunder are several and not joint with the obligations of any other MemberMember hereunder, and no Member shall be responsible in any way for the performance of the obligations of any other Member under this Agreement. The decision of each Member to acquire Shares pursuant to this Agreement has been made by such Member independently of any other Memberhereunder. Nothing contained hereinherein or in any other agreement or document delivered at any closing, and no action taken by any Member pursuant heretohereto or thereto, shall be deemed to constitute the Member Members as a partnership, an association, a joint venture or any other kind of group or entity, or create a presumption that the Member is Members are in any way acting in concert or as a group or entity with respect to such obligations or the transactions contemplated herein. Each Member by this Agreement or any other matters, and the Company acknowledges that the Members are not acting in concert or as a group, and the Company shall not assert any such claim, with respect to such obligations or transactions. Without limiting the foregoing, no other Member has acted as agent agreed with any other Member, and no term, provision, obligation or agreement of any Member set forth herein shall be deemed to constitute an agreement with any other Member, to act together for such Member in connection with making its investment hereunder and that no Member will be acting as agent the purposes of such Member in connection with monitoring its investment in acquiring, holding, voting or disposing of equity securities of the Shares or enforcing its rights under this AgreementCompany. Each Member 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 Member to be joined as an additional party in any proceeding for such purpose. Each The use of a single agreement with respect to the obligations of the Company contained herein was solely in the control of the Company, not the action or decision of any Member, and Parent acknowledge that the Members have been provided with this same Agreement was done solely for the purpose convenience of closing a transaction with multiple Members the Company and not because it was required or requested to do so by any Member. It is expressly understood and agreed that each provision contained in this Agreement is between the Company and an Member, solely, and not between the Company and the Members collectively and not between and among Members.
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Samples: Registration Rights Agreement (True Drinks Holdings, Inc.)
Independent Nature of Members’ Obligations and Rights. The obligations of each Member under this Agreement are several and not joint with the obligations of any other Member, and no Member shall be responsible in any way for the performance of the obligations of any other Member under this Agreement. The decision of each Member to acquire the Shares pursuant to this Agreement has been made by such Member independently of any other Member. Nothing contained herein, and no action taken by any Member pursuant hereto, shall be deemed to constitute the Member Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Member is Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated herein. Each Member acknowledges that no other Member has acted as agent for such Member in connection with making its investment hereunder and that no Member will be acting as agent of such Member in connection with monitoring its investment in the Shares or enforcing its rights under this Agreement. Each Member 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 Member to be joined as an additional party in any proceeding for such purpose. Each of the Company Christals and Parent acknowledge Dico acknowledges that each of the Members have has been provided with this same Agreement for the purpose of closing a transaction with multiple Members and not because it was required or requested to do so by any Member.
Appears in 1 contract
Independent Nature of Members’ Obligations and Rights. The obligations of each Member under this Agreement are several and not joint with the obligations of any other Member, and no Member shall be responsible in any way for the performance of the obligations of any other Member under this Agreement. The decision of each Member to acquire Shares pursuant to this Agreement has been made by such Member independently of any other Member. Nothing contained herein, and no action taken by any Member pursuant heretothereto, shall be deemed to constitute the Member Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Member is Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated herein. Each Member Members acknowledges that no other Member has acted as agent for such Member in connection with making its investment hereunder and that no Member will be acting as agent of such Member in connection with monitoring its investment in the Shares or enforcing its rights under this Agreement. Each Member 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 Member to be joined as an additional party in any proceeding for such purpose. Each of the Company and Parent acknowledge that each of the Members have has been provided with this same Agreement for the purpose of closing a transaction with multiple Members and not because it was required or requested to do so by any Member.
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