Common use of No Partnership, Joint Venture or Trust Clause in Contracts

No Partnership, Joint Venture or Trust. The Parties are not and shall not be deemed to be partners or joint venturers with one another and nothing herein shall be construed so as to impose any liability as such on any of them. The Parties agree that ECT shall perform its obligations under this Agreement as an independent contractor (with its duties and obligations as expressly provided herein) for and on behalf of the Fund, and it is acknowledged and agreed that only where ECT undertakes execution of contracts or other instruments for and on behalf of the Fund may ECT then be acting as an agent of the Fund. In no circumstances shall ECT be, or be deemed to be, a fiduciary or trustee for any Person, whether or not a Party, in connection with the discharge by ECT of such duties and obligations.

No Partnership, Joint Venture or Trust. The Parties are not and shall not be deemed to be partners or joint venturers with one another and nothing herein shall be construed so as to impose any liability as such on any of them. The Parties agree that ECT the Manager shall perform its duties and obligations under this Agreement as an independent contractor (with its duties and obligations as expressly provided herein) for and on behalf of the FundECT, and it is acknowledged and agreed that only where ECT the Manager undertakes execution of contracts or other instruments for and on behalf of ECT may the Fund may ECT Manager then be acting as an agent of the FundECT. In no circumstances shall ECT the Manager be, or be deemed to be, a fiduciary or trustee for any Person, whether or not a Party, in connection with the discharge by ECT the Manager of such duties and obligations.