Independent Nature of Shareholders’ Rights and Obligations. The rights and obligations of each Shareholder hereunder are independent of the rights and obligations of any other Shareholder hereunder. No Shareholder shall be responsible in any way for the performance of the obligations of any other Shareholder hereunder, nor shall any Shareholder have the right to enforce the rights or obligations of any other Shareholder hereunder. The obligations of each Shareholder hereunder are solely for the benefit of, and shall be enforceable solely by, Corporate Taxpayer. The decision of each Shareholder to enter into this Agreement has been made by such Shareholder independently of any other Shareholder. Nothing contained herein or in any other agreement or document delivered at any closing (other than the Partnership Agreement and any joinder thereto), and no action taken by any Shareholder pursuant hereto or thereto, shall be deemed to constitute the Shareholders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Shareholders are in any way acting in concert or as a group with respect to such rights or obligations or the transactions contemplated hereby, and Corporate Taxpayer acknowledges that the Shareholders are not acting in concert or as a group and will not assert any such claim with respect to such rights or obligations or the transactions contemplated hereby.
Appears in 4 contracts
Samples: Tax Receivable Agreement (Norcraft Companies, Inc.), Tax Receivable Agreement (Norcraft Companies, Inc.), Tax Receivable Agreement (Norcraft Companies, Inc.)
