Common use of Limited Duties Clause in Contracts

Limited Duties. Any and all duties and obligations which either Party may have to the other with respect to or in connection with the LLCs, this Agreement, or the transactions contemplated hereby are limited to those in this Agreement. The Parties do not intend (i) that the duties nor obligations of either Party, or the rights of either Party, shall be expanded beyond the terms of this Agreement on the basis of any legal or equitable principle or on any other basis whatsoever or (ii) that any equitable or legal principle or any implied obligation of good faith or fair dealing or any other matter requires either Party to incur, suffer or perform any act, condition or obligation contrary to the terms of this Agreement, whether existing or not and whether foreseeable or unforeseeable. The Parties acknowledge that it would be unfair, and that they do not intend, to increase any of the obligations of any Party under this Agreement on the basis of any implied obligation or otherwise.

Appears in 4 contracts

Samples: Purchase and Sale Agreement (Allegheny Energy Inc), Purchase and Sale Agreement (Allegheny Energy Inc), Purchase and Sale Agreement (Allegheny Energy Supply Co LLC)

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Limited Duties. Any and all duties and obligations which either Party may have to the other Party with respect to or in connection with the LLCsInterests, the Company Assets, this Agreement, or the transactions contemplated hereby are limited to those in this Agreement. The Parties do not intend (i) that the duties nor or obligations of either Party, or the rights of either Party, shall be expanded beyond the terms of this Agreement on the basis of any legal or equitable principle or on any other basis whatsoever or (ii) that any equitable or legal principle or any implied obligation of good faith or fair dealing or any other matter requires either Party to incur, suffer suffer, or perform any act, condition condition, or obligation contrary to the terms of this Agreement, whether existing or not Agreement and whether foreseeable or unforeseeable. The Parties acknowledge that it would be unfair, and that they do not intend, to increase any of the obligations of any Party under this Agreement on the basis of any implied obligation or otherwise.

Appears in 4 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Epl Oil & Gas, Inc.), Purchase and Sale Agreement (Marathon Oil Corp)

Limited Duties. Any and all duties and obligations which either Party may have to the other Party with respect to or in connection with the LLCsSubject Assets, this Agreement, or the transactions contemplated hereby are limited to those in this Agreement. The Parties do not intend (i) that the duties nor or obligations of either Party, or the rights of either Party, shall be expanded beyond the terms of this Agreement on the basis of any legal or equitable principle or on any other basis whatsoever or (ii) that any equitable or legal principle or any implied obligation of good faith or fair dealing or any other matter requires either Party to incur, suffer suffer, or perform any act, condition condition, or obligation contrary to the terms of this Agreement, whether existing or not Agreement and whether foreseeable or unforeseeable. The Parties acknowledge that it would be unfair, and that they do not intend, to increase any of the obligations of any Party under this Agreement on the basis of any implied obligation or otherwise.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (PetroShare Corp.), Purchase and Sale Agreement, Purchase and Sale Agreement (Abraxas Petroleum Corp)

Limited Duties. Any and all duties and obligations which either Party may have to the other Party with respect to or in connection with the LLCsAssets, this Agreement, or the transactions contemplated hereby are limited to those in this Agreement. The Parties do not intend (i) that the duties nor or obligations of either Party, or the rights of either Party, shall be expanded beyond the terms of this Agreement on the basis of any legal or equitable principle or on any other basis whatsoever or (ii) that any equitable or legal principle or any implied obligation of good faith or fair dealing or any other matter requires either Party to incur, suffer suffer, or perform any act, condition condition, or obligation contrary to the terms of this Agreement, whether existing or not Agreement and whether foreseeable or unforeseeable. The Parties acknowledge that it would be unfair, and that they do not intend, to increase any of the obligations of any Party under this Agreement on the basis of any implied obligation or otherwise.

Appears in 2 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Dune Energy Inc)

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Limited Duties. Any and all duties and obligations which either Party may have to the other Party with respect to or in connection with the LLCsAssets, this Agreement, Agreement or the transactions contemplated hereby are limited to those in this Agreement. The Parties do not intend (iA) that the duties nor or obligations of either Party, or the rights of either Party, shall be expanded beyond the terms of this Agreement on the basis of any legal or equitable principle or on any other basis whatsoever or (iiB) that any equitable or legal principle or any implied obligation of good faith or fair dealing or any other matter requires either Party to incur, suffer suffer, or perform any act, condition condition, or obligation contrary to the terms of this Agreement, whether existing or not Agreement and whether foreseeable or unforeseeable. The Parties acknowledge that it would be unfair, and that they do not intend, to increase any of the obligations of any Party under this Agreement agreement on the basis of any implied obligation or otherwise.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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