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

Independent Nature of Members’ Rights and Obligations. The obligations of each Member hereunder 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 hereunder. The decision of each Member to enter into 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 Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby and the Corporation acknowledges that the Members are not acting in concert or as a group, and the Corporation will not assert any such claim, with respect to such obligations or the transactions contemplated hereby.

Appears in 9 contracts

Samples: Tax Receivable Agreement (Truett-Hurst, Inc.), Tax Receivable Agreement (Pennymac Financial Services, Inc.), Tax Receivable Agreement (Pennymac Financial Services, Inc.)

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Independent Nature of Members’ Rights and Obligations. The obligations of each Member hereunder 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 hereunder. The decision of each Member to enter into 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 Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby and the Corporation acknowledges that the Members are not acting in concert or as a group, . and the Corporation will not assert any such claim, claim with respect to such obligations or the transactions contemplated hereby.

Appears in 5 contracts

Samples: Exchange Agreement, Exchange Agreement (Malibu Boats, Inc.), Exchange Agreement (Malibu Boats, Inc.)

Independent Nature of Members’ Rights and Obligations. The obligations of each Member hereunder under this Section 3.9 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 hereunder. The decision of each Member to enter into 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 Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby and the Corporation acknowledges that the Members are not acting in concert or as a group, and the Corporation Habit will not assert any such claim, with respect to such obligations or the transactions contemplated hereby.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Habit Restaurants, Inc.), Limited Liability Company Agreement (Habit Restaurants, Inc.), Limited Liability Company Agreement (Habit Restaurants, Inc.)

Independent Nature of Members’ Rights and Obligations. The obligations of each Member hereunder 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 hereunder. The decision of each Member to enter into 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 Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby and the Corporation acknowledges that the Members are not acting in concert or as a group, and the Corporation will not assert any such claim, claim with respect to such obligations or the transactions contemplated hereby.

Appears in 3 contracts

Samples: Exchange Agreement (Jones Energy, Inc.), Exchange Agreement (Jones Energy, Inc.), Exchange Agreement (Jones Energy, Inc.)

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Independent Nature of Members’ Rights and Obligations. The obligations of each Member hereunder 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 hereunder. The decision of each Member to enter into 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 Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby and the Corporation GreenSky acknowledges that the Members are not acting in concert or as a group, and the Corporation GreenSky will not assert any such claim, with respect to such obligations or the transactions contemplated hereby.

Appears in 2 contracts

Samples: Exchange Agreement (GreenSky, Inc.), Exchange Agreement (GreenSky, Inc.)

Independent Nature of Members’ Rights and Obligations. The obligations of each Member hereunder under this Section 3.8 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 hereunder. The decision of each Member to enter into 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 Members as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby and the Corporation PetIQ acknowledges that the Members are not acting in concert or as a group, and the Corporation PetIQ will not assert any such claim, with respect to such obligations or the transactions contemplated hereby.

Appears in 1 contract

Samples: Limited Liability Company Agreement (PetIQ, Inc.)

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