Nature of the Agreement. 16.1 This Agreement shall not constitute or give rise to any partnership between the Participant and the Company or other Pool Participants. The Participant shall under no circumstances be responsible for the debt of any other Pool Participant nor (except as specifically provided for in this Agreement) for the debt of the Company. 16.2 The Participant shall have no rights in respect of goodwill or other tangible or intangible assets of the Company apart from what is specifically stipulated in this Agreement.
Appears in 9 contracts
Samples: Pool Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.)
Nature of the Agreement. 16.1 18.1 This Agreement shall not constitute or give rise to any partnership between the Participant and the Company or other Pool Participants. The Participant shall under no circumstances be responsible for the debt of any other Pool Participant nor (except as specifically provided for in this Agreement) for the debt of the Company.
16.2 18.2 The Participant shall have no rights in respect of goodwill or other tangible or intangible assets of the Company apart from what is specifically stipulated in this Agreement.
Appears in 2 contracts
Samples: Pool Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.)
Nature of the Agreement. 16.1 This 17.1 Neither this Agreement nor any other document relating to the Pool shall not constitute or give rise to any partnership between the Participant and the Company or other Pool Participants. The Participant shall under no circumstances be responsible for the debt of any other Pool Participant nor (except as specifically provided for in this Agreement) for the debt of the Company.
16.2 17.2 The Participant shall have no rights in respect of goodwill or other tangible or intangible assets of the Company apart from what is specifically stipulated in this Agreement.
Appears in 2 contracts
Samples: Pool Agreement (Toro Corp.), Pool Agreement (Toro Corp.)
