Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement shall be several, not joint. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors. (b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained. (c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 3 contracts
Samples: Equity Commitment Agreement (Infrastructure & Energy Alternatives, Inc.), Equity Commitment Agreement (Infrastructure & Energy Alternatives, Inc.), Equity Commitment Agreement (Infrastructure & Energy Alternatives, Inc.)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising Consenting Noteholders under this Agreement shall be several, not joint, with respect to the Company. The Consenting Noteholders represent and warrant that as of the date of this Agreement and for so long as this Agreement remains in effect, the Consenting Noteholders have no agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any equity securities of the Company. Nothing contained herein in this Agreement, and no action taken by any Commitment Party Consenting Noteholder pursuant to this Agreement shall be deemed hereto (including, but not limited to, the formation and participation in the Ad-Hoc Committee) is intended to constitute the Consenting Noteholders as a partnership, an association, a joint venture or to any other kind of entity, or create a presumption by that any parties that the Commitment Parties, are Consenting Noteholder is in any way acting in concert or as a member of a “group” (with any other Consenting Noteholder or a joint ventureConsenting Noteholders within the meaning of Rule 13d-5 under the U.S. Securities Exchange Act of 1934 and/or Argentine Law 26,831, partnership in each case, as amended and/or complemented. No fiduciary, advisory or association)agency relationship among the Consenting Noteholders, between the Consenting Noteholders and the Company will not assert any such claim with respect to such obligations Ad-Hoc Committee, or between the Company, the Consenting Noteholders or the transactions contemplated Ad-Hoc Committee is intended to be or has been created by this Agreement. The Company acknowledges Agreement and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, hereto each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releaseswaives, to the fullest extent permitted by Lawlaw, any claims the Company that such Party may have with against the other Parties for breach of fiduciary duty or alleged breach of fiduciary duty arising solely from this Agreement, and agree that each Party hereto will have no liability (whether direct or indirect) to each other in respect of such fiduciary duty claim or to any conflict person asserting such a fiduciary duty claim on behalf of interest arising from such transactionsParty, activitiesincluding such Party’s equity holders, investments employees or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentioncreditors.
Appears in 3 contracts
Relationship Among Parties. None of the Supporting Creditors shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities to each other, any Supporting Creditor, any Company Party, or any of the Company Party’s respective creditors or other stakeholders, and there are no commitments among or between the Supporting Creditors, in each case except as expressly set forth in this Agreement. It is understood and agreed that any Supporting Creditor may trade in any debt or equity securities of any Company Parties without the consent of the Company or any Supporting Creditor, subject to Section 4.03 of this Agreement and applicable securities laws. No prior history, pattern or practice of sharing confidence among or between any of the Supporting Creditors, and/or the Company Parties shall in any way affect or negate this understanding and agreement. The Parties have no agreement, arrangement or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any securities of any of the Company Parties and do not constitute a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934 or Rule 13d-5 promulgated thereunder. For the avoidance of doubt: (a1) Notwithstanding anything herein each Supporting Creditor is entering into this Agreement directly with the Company and not with any other Supporting Creditor, (2) no other Supporting Creditor shall have any right to bring any action against any other Supporting Creditor with respect this Agreement (or any breach thereof) and (3) no Supporting Creditor shall, nor shall any action taken by a Supporting Creditor pursuant to this Agreement, be deemed to be acting in concert or as any group with any other Supporting Creditor with respect to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement nor shall be several, not joint. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Supporting Creditors are in any way acting in concert or as a “group” (or a joint venture, partnership or association). All rights under this Agreement are separately granted to each Supporting Creditor by the Company and vice versa, and the Company will not assert any such claim with respect use of a single document is for the convenience of the Company. The decision to such obligations or commit to enter into the transactions contemplated by this AgreementAgreement has been made independently. The Company acknowledges Nothing in this Agreement shall in any way prohibit or limit the right and each Commitment Party confirms that it has independently participated ability of any Supporting Creditor to (a) be granted a lien or other interest in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties Company’s rights under this Agreement, there is no requirement or obligation that (b) be assigned such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested rights by the Commitment PartiesCompany for purposes or enforcement against any Supporting Creditor, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (seek standing to bring an action derivatively or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject on behalf of the transactions contemplated by this Agreement. The Company hereby waives and releasesDebtors in the Chapter 11 Cases, to under the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments Plan or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentionotherwise.
Appears in 2 contracts
Samples: Restructuring Support and Lock Up Agreement (Legacy Reserves Inc.), Restructuring Support and Lock Up Agreement (Legacy Reserves Inc.)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties Parties, on the one hand, and the Debtors, on the other hand, arising under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. The Parties hereto acknowledge that this Agreement does not constitute an agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors and the Commitment Parties do not constitute a “group” within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended. Nothing contained herein or any Definitive Documentation and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Parties are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company Debtors will not assert any such claim with respect to such obligations or the transactions contemplated by this AgreementAgreement or the Definitive Documentation, and the Debtors acknowledge that neither the HoldCo Equityholders Commitment Parties nor the HoldCo Noteholder Commitment Parties are acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or the Definitive Documentation. The Company acknowledges Debtors acknowledge and each HoldCo Equityholder Commitment Party and each HoldCo Noteholder Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement and the Definitive Documentation with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Requisite Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Requisite Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Requisite Commitment Parties, as the case may be. In connection with any matter requiring consent of the Requisite Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Requisite Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges It is understood and agreed that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject none of the transactions contemplated by Commitment Parties has any duty of trust or confidence in any form with any other Commitment Party, the Debtors, or any of the Debtors’ creditors or other stakeholders and, except as expressly provided in this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Lawthere are no agreements, commitments or undertakings by, among or between any claims the Company may have of them with respect to the subject matter hereof. For the avoidance of doubt, the foregoing sentence does not include any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure fiduciary obligations owed by any Plan Support Party that has been appointed an officer of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentionDebtor.
Appears in 2 contracts
Samples: Bankruptcy Agreement (Ultra Petroleum Corp), Backstop Commitment Agreement (Ultra Petroleum Corp)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising Consenting Noteholders under this Agreement shall be several, not joint, with respect to the Company. The Consenting Noteholders represent and warrant that as of the date hereof and for so long as this Agreement remains in effect, the Consenting Noteholders have no agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any equity securities of the Company. Nothing contained herein in this Agreement, and no action taken by any Commitment Party Consenting Noteholder pursuant to this Agreement shall be deemed hereto (including, but not limited to, the formation and participation in the Ad-Hoc Committee) is intended to constitute the Consenting Noteholders as a partnership, an association, a joint venture or to any other kind of entity, or create a presumption by that any parties that the Commitment Parties, are Consenting Noteholder is in any way acting in concert or as a member of a “group” (with any other Consenting Noteholder or a joint ventureConsenting Noteholders within the meaning of Rule 13d-5 under the U.S. Securities Exchange Act of 1934 and/or Argentine Law 26,831, partnership in each case, as amended and/or complemented. No fiduciary, advisory or association)agency relationship among the Consenting Noteholders, between the Consenting Noteholders and the Company will not assert any such claim with respect to such obligations Ad-Hoc Committee, or between the Company, the Consenting Noteholders or the transactions contemplated Ad-Hoc Committee is intended to be or has been created by this Agreement. The Company acknowledges Agreement and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, hereto each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releaseswaives, to the fullest extent permitted by Lawlaw, any claims the Company that such Party may have with against the other Parties for breach of fiduciary duty or alleged breach of fiduciary duty arising solely from this Agreement, and agree that each Party hereto will have no liability (whether direct or indirect) to each other in respect of such fiduciary duty claim or to any conflict person asserting such a fiduciary duty claim on behalf of interest arising from such transactionsParty, activitiesincluding such Party’s equity holders, investments employees or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentioncreditors.
Appears in 2 contracts
Samples: Recapitalization Support Agreement, Interest Deferral Agreement
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising Deferring Noteholders under this Agreement shall be several, not joint, with respect to the Company. The Deferring Noteholders represent and warrant that as of the date of this Agreement and for so long as this Agreement remains in effect, the Deferring Noteholders have no agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any equity securities of the Company. Nothing contained herein in this Agreement, and no action taken by any Commitment Party Deferring Noteholder pursuant to this Agreement shall be deemed hereto (including, but not limited to, the formation and participation in the Ad-Hoc Committee) is intended to constitute the Deferring Noteholders as a partnership, an association, a joint venture or to any other kind of entity, or create a presumption by that any parties that the Commitment Parties, are Deferring Noteholder is in any way acting in concert or as a member of a “group” (with any other Deferring Noteholder or a joint ventureDeferring Noteholders within the meaning of Rule 13d-5 under the U.S. Securities Exchange Act of 1934 and/or Argentine Law 26,831, partnership in each case, as amended and/or complemented. No fiduciary, advisory or association)agency relationship among the Deferring Noteholders, between the Deferring Noteholders and the Company will not assert any such claim with respect to such obligations Ad-Hoc Committee, or between the Company, the Deferring Noteholders or the transactions contemplated Ad-Hoc Committee is intended to be or has been created by this Agreement. The Company acknowledges Agreement and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, hereto each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releaseswaives, to the fullest extent permitted by Lawlaw, any claims the Company that such Party may have with against the other Parties for breach of fiduciary duty or alleged breach of fiduciary duty arising solely from this Agreement, and agree that each Party hereto will have no liability (whether direct or indirect) to each other in respect of such fiduciary duty claim or to any conflict person asserting such a fiduciary duty claim on behalf of interest arising from such transactionsParty, activitiesincluding such Party’s equity holders, investments employees or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentioncreditors.
Appears in 2 contracts
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties Private Placement Parties, on the one hand, and the Debtors, on the other hand, arising under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. The Parties hereto acknowledge that this Agreement does not constitute an agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors and the Private Placement Parties do not constitute a “group” within the meaning of Rule 13d-5, as amended under the Exchange Act. Nothing contained herein or in any Definitive Documentation and no action taken by any Commitment Private Placement Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Private Placement Parties are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company Debtors will not assert any such claim with respect to such obligations or the transactions contemplated by this AgreementAgreement or the Definitive Documentation, and the Debtors acknowledge that none of the Private Placement Parties are acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or the Definitive Documentation. The Company acknowledges Debtors acknowledge and each Commitment Private Placement Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement and the Definitive Documentation with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties Requisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable, under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment PartiesRequisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment PartiesRequisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable, as the case may be. In connection with any matter requiring consent of the Commitment Parties Requisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable, hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (Requisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable) , is obtained.
(c) The Company acknowledges It is understood and agreed that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject none of the transactions contemplated by Private Placement Parties has any duty of trust or confidence in any form with any other Private Placement Party, the Debtors, or any of the Debtors’ creditors or other stakeholders and, except as expressly provided in this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Lawthere are no agreements, commitments or undertakings by, among or between any claims the Company may have of them with respect to the subject matter hereof. For the avoidance of doubt, the foregoing sentence does not include any conflict of interest arising from such transactions, activities, investments or holdings, or arising from fiduciary obligations owed by any party to the failure Plan Support Agreement that has been appointed an officer of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.Debtor
Appears in 2 contracts
Samples: Private Placement Agreement, Private Placement Agreement (Peabody Energy Corp)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising Administrative Agent, the Consenting Noteholders and the Consenting Lenders under this Agreement shall be several, not joint, with respect to the Administrative Agent and each Consenting Noteholder and each Consenting Lender. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity, and it is hereby expressly acknowledged by the Consenting Noteholders, the Administrative Agent and the Consenting Lenders, on the one hand, and the Debtors, on the other, that they are in privity with each other and that no Consenting Noteholder is in privity with any other Consenting Noteholder, the Administrative Agent or any Consenting Lender, and no Consenting Lender is in privity with any other Consenting Lender or any Consenting Noteholder, in connection with this Agreement or any of the transactions contemplated hereby. The Consenting Noteholders represent and warrant that as of the date hereof and for so long as this Agreement remains in effect, the Consenting Noteholders have no agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors. The Consenting Lenders and the Administrative Agent represent and warrant that as of the date hereof and for so long as this Agreement remains in effect, the Consenting Lenders and the Administrative Agent have no agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement, and each Consenting Noteholder and each Consenting Lender shall be entitled to independently protect and enforce its rights, including the rights arising out of this Agreement, and it shall not be necessary for any other Consenting Noteholder or any Consenting Lender to be joined as an additional party in any proceeding for such purpose. Nothing contained herein in this Agreement, and no action taken by any Commitment Party Consenting Noteholder pursuant to this Agreement shall be deemed hereto is intended to constitute the Consenting Noteholders as a partnership, an association, a joint venture or to any other kind of entity, or create a presumption by that any parties that the Commitment Parties, are Consenting Noteholder is in any way acting in concert or as a member of a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent other Consenting Noteholder or a request Consenting Noteholders within the meaning of Rule 13d-5 under the Commitment Parties under Securities Exchange Act of 1934, as amended. Nothing contained in this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect action taken by any Consenting Lender pursuant hereto is intended to constitute the Consenting Lender as a partnership, an association, a joint venture or any such action. In connection other kind of entity, or create a presumption that any Consenting Lender is in any way acting in concert or as a member of a “group” with any matter that may be requested by other Consenting Lender or Consenting Lender within the Commitment Parties, each such holder may, through its counsel, make such request; provided, that meaning of Rule 13d-5 under the Company will only be required to take such action if it receives the request Securities Exchange Act of the Commitment Parties1934, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtainedamended.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 2 contracts
Samples: Restructuring Support Agreement (Rex Energy Corp), Restructuring Support Agreement
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement shall be several, not joint. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, are in any way acting in concert or as a “group” (or a joint venture, partnership or association)) with any Person, and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party and each Backstop Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party, any Backstop Party or any of its their respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Equity Commitment Agreement (Infrastructure & Energy Alternatives, Inc.)
Relationship Among Parties. (a) Notwithstanding anything herein It is understood and agreed that no Consenting Stakeholder owes a fiduciary duty or duty of trust or confidence of any kind or form to any other Party. In this regard, it is understood and agreed that any Consenting Stakeholder may trade in Company Claims/Interests without the consent of the Company or any other Consenting Stakeholder, subject to the contraryapplicable securities laws and the terms of this Agreement. No prior history, pattern, or practice of sharing confidences among or between the duties Parties shall in any way affect or negate this understanding and agreement. No Consenting Stakeholder shall, as a result of its entering into and performing its obligations under this Agreement, be deemed to be a part of a “group” (as that term is used in Rule 13d of the Commitment Parties arising under this Agreement shall be severalExchange Act) with any other Party. For the avoidance of doubt, not joint. Nothing contained herein and no action taken by any Commitment Party a Consenting Stakeholder pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties of the Parties that the Commitment Parties, Consenting Stakeholders are in any way acting in concert or as such a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.”
(b) In connection with Each Consenting Stakeholder acknowledges to each other Consenting Stakeholder (including to any matter requiring consent Person acting on behalf of such Consenting Stakeholder, including any financial or a request other advisor of any of the Commitment Parties under foregoing) that: (i) the Transactions described herein are arm’s-length commercial transactions among the parties hereto; (ii) it has consulted its own legal, accounting, regulatory, and tax advisors to the extent it has deemed appropriate; (iii) it has the requisite knowledge and experience in financial and business matters so that it is capable of evaluating, and understands and accepts, the terms, merits, risks, and conditions of the Transactions contemplated hereby, and has had such opportunity as it has deemed adequate to obtain such information as is necessary to permit such Consenting Stakeholder to evaluate the terms, merits, risks, and conditions of the Transactions contemplated hereby; and (iv) the Consenting Stakeholders and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the other Consenting Stakeholders and their respective affiliates, and the Consenting Stakeholders have no obligation to disclose any such interests to any other Consenting Stakeholders or the their respective affiliates. Each Consenting Stakeholder further acknowledges for the benefit of the other Consenting Stakeholders (including for the benefit of any Person acting on behalf of any other Consenting Stakeholder, including any financial, legal, or other advisor of any of the foregoing) that it has, independently and without reliance upon any statement, representation, or warranty made by any Party or Person (or any such other Party’s or Person’s financial, legal, or other advisors or representatives), other than those expressly contained in this Agreement, there is no requirement and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and that it has not relied on the credit analysis and decision or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to due diligence investigation of any other Party or Person (or any such actionother Party’s or Person’s financial, legal, or other advisors or representatives). In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that No securities of the Company will only be required Parties are being offered or sold hereby, and this Agreement neither constitutes an offer to take such action if it receives the request sell nor a solicitation of an offer to buy any securities of the Commitment Company Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Relationship Among Parties. (a) Notwithstanding anything herein to the contrarycontrary herein, the duties and obligations of the Commitment Parties arising Consenting Stakeholders under this Agreement shall be several, not joint. Nothing contained herein None of the Consenting Stakeholders shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities to each other, any Consenting Stakeholder, any Company Party, or any of the Company Party’s respective creditors or other stakeholders, and there are no commitments among or between the Consenting Stakeholders, in each case except as expressly set forth in this Agreement. It is understood and agreed that any Consenting Stakeholder may trade in any debt or equity securities of any Company Parties without the consent of the Company or any Consenting Stakeholder, subject to Section 8 of this Agreement and applicable securities laws. No prior history, pattern or practice of sharing confidence among or between any of the Consenting Stakeholders, and/or the Company Parties shall in any way affect or negate this understanding and agreement. The Parties have no agreement, arrangement or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any securities of any of the Company Parties and do not constitute a “group” within the meaning of Section 13(d)(3) of the Exchange Act or Rule 13d-5 promulgated thereunder. For the avoidance of doubt: (1) each Consenting Stakeholder is entering into this Agreement directly with the Company and not with any other Consenting Stakeholder, (2) no other Consenting Stakeholder shall have any right to bring any action against any other Consenting Stakeholder with respect this Agreement (or any breach thereof) and (3) no Consenting Stakeholder shall, nor shall any action taken by any Commitment Party a Consenting Stakeholder pursuant to this Agreement shall Agreement, be deemed to constitute be acting in concert or as any group with any other Consenting Stakeholder with respect to the obligations under this Agreement nor shall this Agreement create a presumption by any parties that the Commitment Parties, Consenting Stakeholders are in any way acting in concert or as a “group” (or a joint venture, partnership or association). All rights under this Agreement are separately granted to each Consenting Stakeholder by the Company and vice versa, and the Company will not assert any such claim with respect use of a single document is for the convenience of the Company. The decision to such obligations or commit to enter into the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it Agreement has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisorsbeen made independently.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Restructuring Support Agreement (Parker Drilling Co /De/)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties Parties, the Reserve Parties, QPGL, and the Debtors arising under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. Nothing contained herein and no action taken by any Commitment Party, Reserve Party or QPGL pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Reserve Parties and QPGL are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company Debtors will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges Debtors acknowledge and each Commitment Party, each Reserve Party and QPGL confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Requisite Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Requisite Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Requisite Commitment Parties, as the case may be. In connection with any matter requiring consent of the Requisite Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Requisite Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges It is understood and agreed that each none of the Commitment Party may be Parties, Reserve Parties or QPGL has any duty of trust or confidence in any form with any other Commitment Party, Reserve Party, QPGL, the Debtors, or any of the Debtors’ creditors or other stakeholders and, except as expressly provided in this Agreement (or may be affiliated with) a full service financial firm and any other written agreement between the Parties, except as such from time to time mayotherwise provided in Section 10.3), together with its Affiliatesthere are no agreements, effect transactions for its own account commitments or the account undertakings by, among or between any of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have them with respect to the subject matter hereof. For the avoidance of doubt, the foregoing sentence does not include any conflict of interest arising from such transactionsfiduciary obligations owed by any Commitment Party, activitiesReserve Party, investments QPGL or holdings, or arising from the failure Affiliate Transferee that has been appointed an officer of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentionDebtor.
Appears in 1 contract
Samples: Commitment Agreement (Equity) (Pacific Drilling S.A.)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising Consenting Noteholders under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity, and it is hereby expressly acknowledged by the Consenting Noteholders, on the one hand, and the Stone Parties, on the other hand, that they are in privity with each other and that no Consenting Noteholder is in privity with any other Consenting Noteholder in connection with this Agreement or any of the transactions contemplated hereby. The Consenting Noteholders represent and warrant that as of the date hereof and for so long as this Agreement remains in effect, the Consenting Noteholders have no agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Stone Parties. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement, and each Consenting Noteholder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Consenting Noteholder to be joined as an additional party in any proceeding for such purpose. Nothing contained herein in this Agreement, and no action taken by any Commitment Party Consenting Noteholder pursuant to this Agreement shall be deemed hereto is intended to constitute the Consenting Noteholders as a partnership, an association, a joint venture or to any other kind of entity, or create a presumption by that any parties that the Commitment Parties, are Consenting Noteholder is in any way acting in concert or as a member of a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent other Consenting Noteholder or a request Consenting Noteholders within the meaning of Rule 13d-5 under the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request Securities Exchange Act of the Commitment Parties1934, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtainedamended.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Restructuring Support Agreement (Stone Energy Corp)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties Parties, on the one hand, and the Debtors, on the other hand, arising under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. The Debtors agree not to assert that this Agreement constitutes an agreement, arrangement, or understanding among the Parties with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors or that the Commitment Parties constitute a “group” within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended. Nothing contained herein or any Definitive Documents and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Parties are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company Debtors will not assert any such claim with respect to such obligations or the transactions contemplated by this AgreementAgreement or the Definitive Documents, and the Debtors agree not to assert that the Commitment Parties are acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or the Definitive Documents. The Company acknowledges Debtors acknowledge and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement and the Definitive Documents with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Requisite Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Requisite Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Requisite Commitment Parties, as the case may be. In connection with any matter requiring consent of the Requisite Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Requisite Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges It is understood and agreed that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject none of the transactions contemplated by Commitment Parties has any duty of trust or confidence in any form with any other Commitment Party, the Debtors, or any of the Debtors’ creditors or other stakeholders and, except as expressly provided in this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Lawthere are no agreements, commitments or undertakings by, among or between any claims the Company may have of them with respect to the subject matter hereof. For the avoidance of doubt, the foregoing sentence does not include any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure fiduciary obligations owed by any Consenting Creditor that has been appointed an officer of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentionDebtor.
Appears in 1 contract
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement shall be several, not joint. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms agrees that it has independently participated the Underwriters are acting solely in the negotiation capacity of an arm’s length contractual counterparty to the Company with respect to the offering of the Securities contemplated hereby (including in connection with determining the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent of the Company or any other person. Additionally, none of the Underwriters are advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction. The Company shall consult with their own advisors concerning such matters and shall be responsible for making their own independent investigation and appraisal of the transactions contemplated under this Agreement with hereby, and the advice of counsel and advisors.
(b) In connection with any matter requiring consent Underwriters shall have no responsibility or a request of liability to the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders Company with respect to any such actionlegal, tax, investment, accounting or regulatory matters. In connection Any review by the Underwriters of the Company, the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Underwriters and shall not be on behalf of the Company. If the foregoing is in accordance with your understanding hereof, please execute this Agreement in the appropriate space below and return to the undersigned, whereupon this instrument along with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that counterpart will become a binding agreement among the Company will only be required to take such action if it receives the request and you in accordance with its terms. Very truly yours, Gxxxxxx Sachs Asset Backed Securities Corp. By: Name: Title: CONFIRMED AND ACCEPTED, as of the Commitment Partiesdate first above written: GXXXXXX, SXXXX & CO. [Acting on behalf of themselves and as Representative of the several Underwriters] By: Name: Title: [Class ___] Certificates Principal Amount to be Purchased Gxxxxxx, Sachs & Co $ Total $ [Class ___] Certificates Principal Amount to be Purchased Gxxxxxx, Sxxxx & Co. $ Total $ [Class ___] Certificates Principal Amount to be Purchased Gxxxxxx, Sachs & Co. $ Total $ [Class ___] Certificates Principal Amount to be Purchased Gxxxxxx, Sxxxx & Co. $ Total $ [FORM OF INDENTURE] between [ ] AUTO RECEIVABLES SECURITIES TRUST 200_-__. as Issuer and , as the case may be. In connection with any matter requiring consent Indenture Trustee Dated as of the Commitment Parties hereunder______________ TIA SECTION INDENTURE SECTION 310 (a)(1) 6.11 (a)(2) 6.11
(a) (3) 6.10 (a)(4) 6.14 (b) 6.11 (c) N.A. 311 (a) 6.12 (b) 6.12 (c) N.A. 312 (a) 7.1, the Company will solicit consent independently from each such holder or its respective counsel; provided7.2 (b) 7.2 (c) 7.2 313 (a) 7.4(a), that such consent shall only be granted if the approval of the Commitment Parties 7.4(b) (as applicableb)(1) is obtained.7.4(a) (b)(2) 7.4(a) (c) 7.4(a) (d) 7.4(a) 314 (a) 7.3(a), 3.9 (b) 3.6 (c)(1) 2.1, 2.9, 4.1, 11.1(a) (c)(2) 2.1, 2.9, 4.1, 11.1(a) (c)(3) 2.9, 4.1, 11.1(a) (d) 2.9, 11.1(b) (e) 11.1(a) (f) 11.1(a) 315 (a) 6.1(b) (b) 6.5
(c) The Company acknowledges that each Commitment Party may 6.1(a) (d) 6.2, 6.1(c) (e) 5.13 316 (a) last sentence 1.1
(a) (1)(A) 5.11 (a)(1)(B) 5.12
(a) (2) Omitted 316 (b), (c) 5.7 317 (a)(1) 5.3(b) (a)(2) 5.3(d) (b) 3.3 318 (a) 11.7
A. means Not Applicable. Note: This cross reference table shall not, for any purpose, be (deemed to be part of this Indenture. ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE 2 SECTION 1.1 Definitions 2 SECTION 1.2 Incorporation by Reference of Trust Indenture Act 2 ARTICLE II THE NOTES 2 SECTION 2.1 Issuance of Notes; Execution, Authentication and Delivery 2 SECTION 2.2 Form of Notes and Authentication Agent’s Certificate of Authentication 4 SECTION 2.3 Temporary Notes 5 SECTION 2.4 Registration; Registration of Transfer and Exchange of Notes 6 SECTION 2.5 Mutilated, Destroyed, Lost or may be affiliated with) a full service financial firm Stolen Notes 7 SECTION 2.6 Persons Deemed Noteholders 8 SECTION 2.7 Payment of Principal and Interest 8 SECTION 2.8 Cancellation of Notes 9 SECTION 2.9 Release of Collateral 9 SECTION 2.10 Book-Entry Notes 9 SECTION 2.11 Notices to Clearing Agency 10 SECTION 2.12 Definitive Term Notes 10 SECTION 2.13 Seller as such from time Noteholder 11 SECTION 2.14 Tax Treatment 11 SECTION 2.15 Special Terms Applicable to time may, together with its Affiliates, effect transactions Subsequent Transfers of Certain Notes 11 SECTION 2.16 CUSIP Numbers 12 ARTICLE III COVENANTS 12 SECTION 3.1 Payment of Principal and Interest 12 SECTION 3.2 Maintenance of Agency Office 13 SECTION 3.3 Money for its own account or the account Payments To Be Held in Trust 13 SECTION 3.4 Existence 14 SECTION 3.5 Protection of customers, and hold long or short positions in debt or equity securities or loans Trust Estate; Acknowledgment of business entities that may be the subject Pledge 15 SECTION 3.6 Opinions as to Trust Estate 15 SECTION 3.7 Performance of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict Obligations; Servicing of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.Receivables 16 SECTION 3.8 Negative Covenants 16
Appears in 1 contract
Samples: Underwriting Agreement (Goldman Sachs Asset Backed Securities Corp)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties Parties, on the one hand, and the Debtors, on the other hand, arising under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. The Debtors agree not to assert that this Agreement constitutes an agreement, arrangement, or understanding among the Parties with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors or that the Commitment Parties constitute a “group” within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Parties are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company Debtors will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement, and the Debtors agree not to assert that the Commitment Parties are acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges Debtors acknowledge and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Requisite Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Requisite Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Requisite Commitment Parties, as the case may be. In connection with any matter requiring consent of the Requisite Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Requisite Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges It is understood and agreed that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject none of the transactions contemplated by Commitment Parties has any duty of trust or confidence in any form with any other Commitment Party, the Debtors, or any of the Debtors’ creditors or other stakeholders and, except as expressly provided in this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Lawthere are no agreements, commitments or undertakings by, among or between any claims the Company may have of them with respect to the subject matter hereof. For the avoidance of doubt, the foregoing sentence does not include any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure fiduciary obligations owed by any Consenting Creditor that has been appointed an officer of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentionDebtor.
Appears in 1 contract
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties Parties, on the one hand, and the Debtors, on the other hand, arising under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. The Parties hereto acknowledge that this Agreement does not constitute an agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors and the Commitment Parties do not constitute a “group” within the meaning of Rule 13d-5 under the Exchange Act, as amended. Nothing contained herein or in any Definitive Documentation and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Parties are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company Debtors will not assert any such claim with respect to such obligations or the transactions contemplated by this AgreementAgreement or the Definitive Documentation, and the Debtors acknowledge that none of the Commitment Parties are acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or the Definitive Documentation. The Company acknowledges Debtors acknowledge and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement and the Definitive Documentation with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties Requisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable, under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment PartiesRequisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment PartiesRequisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable, as the case may be. In connection with any matter requiring consent of the Commitment Parties Requisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable, hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (Requisite Consenting Noteholders, the Noteholder Co-Proponents, or the Requisite Members of the Noteholder Steering Committee, as applicable) , is obtained.
(c) The Company acknowledges It is understood and agreed that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject none of the transactions contemplated by Commitment Parties has any duty of trust or confidence in any form with any other Commitment Party, the Debtors, or any of the Debtors’ creditors or other stakeholders and, except as expressly provided in this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Lawthere are no agreements, commitments or undertakings by, among or between any claims the Company may have of them with respect to the subject matter hereof. For the avoidance of doubt, the foregoing sentence does not include any conflict of interest arising from such transactions, activities, investments or holdings, or arising from fiduciary obligations owed by any party to the failure Plan Support Agreement that has been appointed an officer of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentionDebtor.
Appears in 1 contract
Samples: Backstop Commitment Agreement (Peabody Energy Corp)
Relationship Among Parties. (a) Notwithstanding anything herein It is understood and agreed that no Consenting Lender owes any duty of trust or confidence of any kind or form to any other Party as a result of entering into this Agreement, and there are no commitments among or between the Consenting Lenders, in each case except as expressly set forth in this Agreement. In this regard, it is understood and agreed that any Consenting Lender may trade in Company Claims/Interests without the consent of any other Party, subject to applicable securities laws and the terms of this Agreement, including Section 8; provided, however, that no Consenting Lender shall have any responsibility for any such trading to any other Person by virtue of this Agreement. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this understanding and agreement. No Consenting Lender shall, nor shall any action taken by a Consenting Lender pursuant to this Agreement, be deemed to be acting in concert or as any group with any other Consenting Lender with respect to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement nor shall be several, not joint. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Consenting Lenders are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect . The decision to such obligations or commit to enter into the transactions contemplated by this AgreementAgreement has been made independently by each Party hereto. The Company acknowledges Parties acknowledge that all representations, warranties, covenants, and each Commitment Party confirms other agreements made by or on behalf of any Consenting Lender that it has independently participated is (i) a separately managed account of an investment manager signatory hereto (the “Manager”) or (ii) a trading desk or business group of a broker-dealer (as further set forth in the negotiation signature page hereto) (the “Designated Group”) are being made only with respect to the assets managed by such Manager or Designated Group on behalf of the transactions contemplated under this Agreement with the advice of counsel such Consenting Lender, and advisors.
shall not apply to (or be deemed to be made in relation to) any assets or interest that (a) may be beneficially owned by such Consenting Lender that are not held through accounts managed by such Manager or (b) In connection with are held by any matter requiring consent other affiliate, trading desk or a request of business group other than the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtainedDesignated Group.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Restructuring Support Agreement (Pennsylvania Real Estate Investment Trust)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, (i) the duties and obligations of the Commitment Parties arising under this Amended Agreement shall be several, not joint. Nothing contained , (ii) no Party shall have any responsibility by virtue of this Amended Agreement for any trading by any other entity; (iii) no prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Amended Agreement; (iv) the Parties hereto acknowledge that this Amended Agreement does not constitute an agreement, arrangement or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any equity securities of the Debtors and the Parties do not constitute a “group” within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”); (v) none of the Parties shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities in any kind or form to each other, including as a result of this Amended Agreement or the transactions contemplated herein or in the Approved Plan; and (vi) no action taken by any Commitment Party pursuant to this Amended Agreement shall be deemed to constitute or to create a presumption by any parties of the Parties that the Commitment Parties, Parties are in any way acting in concert or as such a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.”
(b) In connection with any matter requiring consent or a request of Notwithstanding anything to the Commitment Parties under contrary herein, this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action Amended Agreement (including the Approved Plan) and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives shall not create any fiduciary duties between and releases, to among the fullest extent permitted by Law, any claims Consenting Senior Unsecured Creditors (in their capacity as holders of Senior Unsecured Notes Claims) or the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdingsConsenting Second Lien Creditors, or arising from other duties or responsibilities to each other, the failure of any Commitment Party Debtors, or any of its respective Affiliates to bring such transactions, activities, investments Debtor’s creditors or holdings to the Company’s attentionother stakeholders.
Appears in 1 contract
Samples: Restructuring Support Agreement (Breitburn Energy Partners LP)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement shall be several, not joint. Nothing contained No Party shall have any responsibility for any such trading by any other entity by virtue of this Agreement. No prior history, pattern or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. The Parties hereto acknowledge that this Agreement does not constitute an agreement, arrangement or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any equity securities of the Company Parties and the Parties do not constitute a “group” within the meaning of Rule 13d-5 under the Exchange Act. None of the Consenting Noteholders shall have any fiduciary duty, any duty of trust or confidence in any form, or, except as expressly provided herein and no or under the Definitive Documents, other duties or responsibilities of any kind or form to each other, the Company Parties or any of the Company Parties’ other stakeholders, including as a result of this Agreement or the Contemplated Transactions. No Consenting Noteholder shall, nor shall any action taken by any Commitment Party a Consenting Noteholder pursuant to this Agreement shall Agreement, be deemed to constitute be acting in concert or as any group with any other Consenting Noteholder with respect to the obligations under this Agreement nor shall this Agreement create a presumption by any parties that the Commitment Parties, Consenting Noteholder are in any way acting in concert or as a “group” (or a joint venture, partnership or association). All rights under this Agreement are separately granted to each Consenting Noteholder by the other Parties hereto, and the Company will not assert any such claim with respect to such obligations or use of a single document is for the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation convenience of the transactions contemplated under this Agreement with the advice of counsel Parties. It is understood and advisors.
(b) In connection with agreed that any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to Consenting Noteholder may trade in any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by Seller without the consent of the Company Parties, the Buyer or any other Consenting Noteholder, subject to applicable securities laws and the terms of this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Relationship Among Parties. (a) Notwithstanding anything herein to the contrarycontrary herein, the duties and obligations of the Commitment Parties arising Consenting Stakeholders under this Agreement shall be several, not jointjoint and several. Nothing contained herein None of the Consenting Stakeholders shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities to each other, any Consenting Stakeholder, any Company Party, or any of the Company Party’s respective creditors or other stakeholders, and there are no commitments among or between the Consenting Stakeholders, in each case except as expressly set forth in this Agreement or any other Definitive Document. It is understood and agreed that any Consenting Stakeholders may trade in any debt or equity securities of any Company Party without the consent of the Company Parties, subject to applicable securities laws and this Agreement. No prior history, pattern or practice of sharing confidences among or between any of the Consenting Stakeholders, and/or the Company Parties shall in any way affect or negate this understanding and agreement. The Parties have no agreement, arrangement or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any equity securities of any of the Company Parties and do not constitute a “group” within the meaning of Section 13(d)(3) of the Exchange Act or Rule 13d-5 promulgated thereunder. For the avoidance of doubt: (a) each Consenting Stakeholder is entering into this Agreement directly with the Company Parties and not with any other Consenting Stakeholder; (b) subject to Section 7.02, no other Consenting Stakeholder shall have any right to bring any action against any other Consenting Stakeholder with respect this Agreement (or any breach thereof); and (c) no Consenting Stakeholder shall, nor shall any action taken by any Commitment Party a Consenting Stakeholder pursuant to this Agreement shall Agreement, be deemed to constitute be acting in concert or as any group with any other Consenting Stakeholder with respect to the obligations under this Agreement nor shall this Agreement create a presumption by any parties that the Commitment Parties, Consenting Stakeholders are in any way acting in concert or as a “group” (or a joint venture, partnership or association). All rights under this Agreement are separately granted to each Consenting Stakeholder by the Company Parties and vice versa, and the use of a single document is for the convenience of the Company will not assert any such claim with respect Parties. The decision to such obligations or commit to enter into the transactions Restructuring Transactions contemplated by this AgreementAgreement has been made independently. The Company acknowledges and each Commitment Party confirms that it has independently participated in For the negotiation avoidance of doubt, the Consenting Stakeholders are not insiders of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtainedsubsidiaries.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Restructuring Support Agreement (Spirit Airlines, Inc.)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising Supporting Noteholders under this Agreement shall be several, not joint. No Party shall have, by reason of this Agreement, a fiduciary relationship in respect of any other Party, any holder of Egalet Claims, or any other Person, and nothing in this Agreement, express or implied, is intended to impose, or shall be construed as imposing, upon any Party any obligations in respect of this Agreement or the Restructuring except as expressly set forth herein. It is understood and agreed that any Supporting Noteholder may trade in the debt or equity securities of the Company without the consent of the Company or any Supporting Noteholder, subject to any applicable confidentiality agreements entered into by such Supporting Noteholder and any Company Party and Sections 5(c) and 5(d) of this Agreement. No Party hereto shall have any responsibility for any such trading by any other entity by virtue of this Agreement. No prior history, pattern or practice of sharing confidences among or between the Parties hereto shall in any way affect or negate this understanding and agreement, and each Supporting Noteholder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Supporting Noteholder to be joined as an additional party in any proceeding for such purpose. It is hereby expressly acknowledged by each of the Supporting Noteholders, on the one hand, and the Company, on the other, that they are in privity with each other and that no Supporting Noteholder with First Lien Note Secured Claims is in privity with any other Supporting Noteholder with First Lien Note Secured Claims in connection with this Agreement or any of the transactions contemplated hereby and no Supporting Noteholder with Convertible Notes Claims is in privity with any other Supporting Noteholder with Convertible Notes Claims in connection with this Agreement or any of the transactions contemplated hereby. Each Supporting Noteholder represents and warrants that as of the date hereof and for so long as this Agreement remains in effect, such Supporting Noteholder has no agreement, arrangement, or understanding with any other Supporting Noteholder with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Company. Nothing contained herein in this Agreement, and no action taken by any Commitment Party Supporting Noteholder pursuant to this Agreement shall be deemed hereto is intended to constitute the Supporting Noteholders as a partnership, an association, a joint venture or to any other kind of entity, or create a presumption by that any parties that the Commitment Parties, are Supporting Noteholder is in any way acting in concert or as a member of a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent other Supporting Noteholder or a request Supporting Noteholders within the meaning of Rule 13d-5 under the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request Securities Exchange Act of the Commitment Parties1934, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtainedamended.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising Consenting Noteholders under this Agreement shall be several, not joint, with respect to each Consenting Noteholder. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity, and it is hereby expressly acknowledged by the Consenting Noteholders, on the one hand, and the Debtors, on the other, that they are in privity with each other and that no Consenting Noteholder is in privity with any other Consenting Noteholder in connection with this Agreement or any of the transactions contemplated hereby. The Consenting Noteholders represent and warrant that as of the date hereof and for so long as this Agreement remains in effect, the Consenting Noteholders have no agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement, and each Consenting Noteholder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Consenting Noteholder to be joined as an additional party in any proceeding for such purpose. Nothing contained herein in this Agreement, and no action taken by any Commitment Party Consenting Noteholder pursuant to this Agreement shall be deemed hereto is intended to constitute the Consenting Noteholders as a partnership, an association, a joint venture or to any other kind of entity, or create a presumption by that any parties that the Commitment Parties, are Consenting Noteholder is in any way acting in concert or as a member of a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect to such obligations or the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent other Consenting Noteholder or a request Consenting Noteholders within the meaning of Rule 13d-5 under the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request Securities Exchange Act of the Commitment Parties1934, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtainedamended.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Restructuring Support Agreement (Weatherford International PLC)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties Plan Support Parties, on the one hand, and the Ultra Entities, on the other hand, arising under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. The Parties hereto acknowledge that this Agreement does not constitute an agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Ultra Entities and the Plan Support Parties do not constitute a “group” within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended. Nothing contained herein or any of the Definitive Documentation and no action taken by any Commitment Plan Support Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties of the Parties that the Commitment Parties, Plan Support Party are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company Ultra Entities will not assert any such claim with respect to such obligations or the transactions contemplated by this AgreementAgreement or any Definitive Documentation, and the Ultra Entities acknowledge that neither the Consenting HoldCo Equityholders nor the consenting HoldCo Noteholders are acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or the Definitive Documentation. The Company acknowledges Ultra Entities acknowledge and each Commitment Party Consenting HoldCo Equityholder and each Consenting HoldCo Noteholder confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement and the Definitive Documentation with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties Majority Consenting HoldCo Noteholders or Majority Consenting HoldCo Equityholders under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment PartiesMajority Consenting HoldCo Noteholders or Majority Consenting HoldCo Equityholders, each such holder may, through its counsel, make such request; provided, that the Company Ultra will only be required to take such action if it receives the request of the Commitment PartiesMajority Consenting HoldCo Noteholders or Majority Consenting HoldCo Equityholders, as the case may be. In connection with any matter requiring consent of the Commitment Parties Majority Consenting HoldCo Noteholders or Majority Consenting HoldCo Equityholders hereunder, the Company Ultra will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties Majority Consenting HoldCo Noteholders or Majority Consenting HoldCo Equityholders (as applicable) is obtained.
(c) The Company acknowledges It is understood and agreed that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject none of the transactions contemplated by Plan Support Parties has any duty of trust or confidence in any form with any other Plan Support Party, the Ultra Entities, or any of the Ultra Entities’ creditors or other stakeholders and, except as expressly provided in this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Lawthere are no agreements, commitments or undertakings by, among or between any claims the Company may have of them with respect to the subject matter hereof. For the avoidance of doubt, the foregoing sentence does not include any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure fiduciary obligations owed by any Plan Support Party that has been appointed an officer of any Commitment Party Ultra Entity.
(d) The Ultra Entities shall notify the Plan Support Parties in writing as promptly as practicable and in no event more than two (2) business days after receipt by the Ultra Entities or their representatives or agents, as applicable, of any written (including email), definitive proposal or offer from any person or entity to effect a restructuring of the Ultra Entities, any alternative transaction or restructuring or a transaction in conflict with the Restructuring Transactions or any of its respective Affiliates to bring such transactions, activities, investments or holdings request for confidential information relating to the Company’s attentionUltra Entities, which notice, subject to confidentiality obligations shall indicate the identity of the person or entity making the proposal, offer or request. The Ultra Entities shall additionally, subject to confidentiality obligations provide copies of such written proposals or offers received by any of the Ultra Entities, as applicable, as promptly as practicable and in no event more than two (2) business days after receipt by the Ultra Entities or their representatives or agents.
Appears in 1 contract
Relationship Among Parties. It is understood and agreed that no Consenting Creditor owes any duty of trust or confidence of any kind or form to any other Party as a result of entering into this Agreement, and there are no commitments among or between the Consenting Creditors, in each case except as expressly set forth in this Agreement. In this regard, it is understood and agreed that any Consenting Creditor may trade in Company Claims/Interests without the consent of any other Party, subject to applicable securities laws and the terms of this Agreement, including Section 9; provided, however, that no Consenting Creditor shall have any responsibility for any such trading to any other Person by virtue of this Agreement. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this understanding and agreement. No Consenting Creditor shall, nor shall any action taken by a Consenting Creditor pursuant to this Agreement, be deemed to be acting in concert or as any “group” (aas that term is used in Section 13(d) Notwithstanding anything herein of the Securities Exchange Act of 1934, as amended) with any other Consenting Creditor with respect to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement nor shall be several, not joint. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Consenting Creditors are in any way acting in concert or as such a “group” (or a joint venture, partnership or association), and the Company will not assert any such claim with respect . The decision to such obligations or commit to enter into the transactions contemplated by this AgreementAgreement has been made independently by each Party hereto. The Company acknowledges Parties acknowledge that all representations, warranties, covenants, and each Commitment Party confirms other agreements made by or on behalf of any Consenting Creditor that it has independently participated in the negotiation is a separately managed account of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders an investment manager signatory hereto are being made only with respect to the assets managed by such manager on behalf of such Consenting Creditor, and shall not apply to (or be deemed to be made in relation to) any such action. In connection with any matter assets or interests that may be requested beneficially owned by the Commitment Parties, each such holder may, Consenting Creditor that are not held through its counsel, make accounts managed by such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtainedmanager.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Confidentiality Agreement
Relationship Among Parties. (a) Notwithstanding anything herein to the contrarycontrary herein, the duties and obligations of the Commitment Parties arising Consenting Stakeholders under this Agreement shall be several, and neither joint nor joint and several. None of the Consenting Stakeholders shall have by virtue of this Agreement any fiduciary duty or any other duty of trust or confidence in any form to each other, any Consenting Stakeholder, any Company Party or affiliate thereof, or any of the Company Parties’ or their respective affiliates’ creditors or other stakeholders. None of the Consenting Stakeholders shall have by virtue of this Agreement any duties or responsibilities to each other, any Consenting Stakeholder, any Company Party or affiliate thereof, or any of the Company Parties’ or their respective affiliates’ creditors or other stakeholders, and there are no commitments among or between the Consenting Stakeholders, except as expressly set forth in this Agreement. It is understood and agreed that any Consenting Stakeholder may trade in any debt or equity Securities of any Company Parties without the consent of the Company Parties or any other Consenting Stakeholder, subject to applicable securities Laws, the terms of this Agreement, and the terms of the Definitive Documents. No prior history, pattern or practice of sharing confidences among or between any of the Consenting Stakeholders, and/or the Company Parties shall in any way affect or negate this understanding and agreement. The Parties acknowledge that this Agreement does not jointconstitute an agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any Securities of any of the Company Parties and shall not be deemed, as a result of its entering into and performing its obligations under this Agreement, to constitute a “group” within the meaning of Section 13(d)(3) of the Exchange Act or Rule 13d-5 promulgated thereunder. Nothing contained herein For the avoidance of doubt: (1) each Consenting Stakeholder is entering into this Agreement directly with the Company Parties and not with any other Consenting Stakeholder, (2) no other Consenting Stakeholder shall have any right to bring any action against any other Consenting Stakeholder with respect this Agreement (or any breach thereof), other than in accordance with this Agreement, and (3) no Consenting Stakeholder shall, nor shall any action taken by any Commitment Party a Consenting Stakeholder pursuant to this Agreement shall Agreement, be deemed to constitute be acting in concert or as any group with any other Consenting Stakeholder with respect to the obligations under this Agreement, nor shall this Agreement create a presumption by any parties that the Commitment Parties, Consenting Stakeholders are in any way acting in concert or as a “group” (or a joint venture, partnership or association). All rights under this Agreement are separately granted to each Consenting Stakeholder by the Company Parties and vice versa, and the Company will not assert any such claim with respect use of a single document is for the convenience of the Parties. Each Party’s decision to such obligations or commit to enter into the transactions contemplated by this Agreement. The Agreement has been made independently and is based upon its own business judgment with the understanding that no Company acknowledges and each Commitment Party confirms that it has independently participated in made any representations or warranties as to the negotiation success of the transactions contemplated under this Agreement with Restructuring Transactions or, ultimately, the advice Confirmation of counsel and advisorsthe Prepackaged Plan.
(b) In connection with any matter requiring consent or The Company Parties understand that the Consenting Stakeholders are engaged in a request wide range of financial services and businesses, and, in furtherance of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunderforegoing, the Company will solicit consent independently from each such holder or its respective counsel; provided, Parties acknowledge and agree that such consent the obligations set forth in this Agreement shall only be granted if apply to the approval trading desk(s) and/or business group(s) of the Commitment Parties (as applicable) is obtained.
(c) The Consenting Stakeholders that principally manage and/or supervise the Consenting Stakeholder’s investment in the Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customersParties, and hold long shall not apply to any other trading desk or short positions in debt or equity securities or loans of business entities that may be the subject group of the transactions contemplated by this Consenting Stakeholder so long as they are not acting at the direction or for the benefit of such Consenting Stakeholder and so long as confidentiality is maintained consistent with any applicable Confidentiality Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Relationship Among Parties. None of the Consenting Stakeholders shall have any fiduciary duty, any duty of trust or confidence in any form, other than as provided under applicable Law, or other duties or responsibilities to each other, any Consenting Stakeholder, any Company Party, or any of the Company Party’s respective creditors or other stakeholders, and there are no commitments among or between the Consenting Stakeholders, in each case except as expressly set forth in this Agreement. No prior history, pattern or practice of sharing confidence among or between any of the Consenting Stakeholders, and/or the Company Parties shall in any way affect or negate this understanding and agreement. Pursuant to this Agreement, the Parties have no agreement, arrangement or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any securities of any of the Company Parties and pursuant to this Agreement, do not constitute a “group” within the meaning of Section 13(d)(3) of the Exchange Act or Rule 13d-5 promulgated thereunder. For the avoidance of doubt: (a1) Notwithstanding anything herein each Consenting Stakeholder is entering into this Agreement directly with Centric and not with any other Consenting Stakeholder, (2) no other Consenting Stakeholder shall have any right to bring any action against any other Consenting Stakeholder with respect this Agreement (or any breach thereof) and (3) no Consenting Stakeholder shall, nor shall any action taken by a Consenting Stakeholder pursuant to this Agreement, be deemed to be acting in concert or as any group with any other Consenting Stakeholder with respect to the contrary, the duties and obligations of the Commitment Parties arising under this Agreement nor shall be several, not joint. Nothing contained herein and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Consenting Stakeholders are in any way acting in concert or as a “group” (or a joint venture, partnership or association). All rights under this Agreement are separately granted to each Consenting Stakeholder by Centric and vice versa, and the Company will not assert any such claim with respect use of a single document is for the convenience of Centric. The decision to such obligations or commit to enter into the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it Agreement has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisorsbeen made independently.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Restructuring Support Agreement (Centric Brands Inc.)
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties arising Deferring Noteholders under this Agreement shall be several, not joint, with respect to the Company. The Deferring Noteholders represent and warrant that as of the date hereof and for so long as this Agreement remains in effect, the Deferring Noteholders have no agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any equity securities of the Company. Nothing contained herein in this Agreement, and no action taken by any Commitment Party Deferring Noteholder pursuant to this Agreement shall be deemed hereto (including, but not limited to, the formation and participation in the Ad-Hoc Committee) is intended to constitute the Deferring Noteholders as a partnership, an association, a joint venture or to any other kind of entity, or create a presumption by that any parties that the Commitment Parties, are Deferring Noteholder is in any way acting in concert or as a member of a “group” (with any other Deferring Noteholder or a joint ventureDeferring Noteholders within the meaning of Rule 13d-5 under the U.S. Securities Exchange Act of 1934 and/or Argentine Law 26,831, partnership in each case, as amended and/or complemented. No fiduciary, advisory or association)agency relationship among the Deferring Noteholders, between the Deferring Noteholders and the Company will not assert any such claim with respect to such obligations Ad-Hoc Committee, or between the Company, the Deferring Noteholders or the transactions contemplated Ad-Hoc Committee is intended to be or has been created by this Agreement. The Company acknowledges Agreement and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, hereto each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releaseswaives, to the fullest extent permitted by Lawlaw, any claims the Company that such Party may have with against the other Parties for breach of fiduciary duty or alleged breach of fiduciary duty arising solely from this Agreement, and agree that each Party hereto will have no liability (whether direct or indirect) to each other in respect of such fiduciary duty claim or to any conflict person asserting such a fiduciary duty claim on behalf of interest arising from such transactionsParty, activitiesincluding such Party’s equity holders, investments employees or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attentioncreditors.
Appears in 1 contract
Samples: Interest Deferral Agreement
Relationship Among Parties. (a) Notwithstanding anything herein to the contrary, the duties and obligations of the Commitment Parties Parties, on the one hand, and the Debtors, on the other hand, arising under this Agreement shall be several, not joint. No Party shall have any responsibility by virtue of this Agreement for any trading by any other entity. No prior history, pattern, or practice of sharing confidences among or between the Parties shall in any way affect or negate this Agreement. The Debtors agree not to assert that this Agreement constitutes an agreement, arrangement, or understanding among the Parties with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Debtors or that the Commitment Parties constitute a “group” within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended. Nothing contained herein or any Definitive Documents and no action taken by any Commitment Party pursuant to this Agreement shall be deemed to constitute or to create a presumption by any parties that the Commitment Parties, Parties are in any way acting in concert or as a “group” (or a joint venture, partnership or association), and the Company Debtors will not assert any such claim with respect to such obligations or the transactions contemplated by this AgreementAgreement or the Definitive Documents, and the Debtors agree not to assert that the Commitment Parties are acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or the Definitive Documents. The Company acknowledges Debtors acknowledge and each Commitment Party confirms that it has independently participated in the negotiation of the transactions contemplated under this Agreement and the Definitive Documents with the advice of counsel and advisors.
(b) In connection with any matter requiring consent or a request of the Requisite Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Requisite Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Requisite Commitment Parties, as the case may be. In connection with any matter requiring consent of the Requisite Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Requisite Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges It is understood and agreed that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject none of the transactions contemplated by Commitment Parties has any duty of trust or confidence in any form with any other Commitment Party, the Debtors, or any of the Debtors’ creditors or other stakeholders and, except as expressly provided in this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Lawthere are no agreements, commitments or undertakings by, among or between any claims the Company may have of them with respect to the subject matter hereof. For the avoidance of doubt, the foregoing sentence does not include any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure fiduciary obligations owed by any Consenting Creditor that has been appointed an officer of any Debtor. 17-13193-mew Doc 542-3 Filed 08/29/18 Entered 08/29/18 19:09:16 Exhibit C: A&R Commitment Party or any Agreement Pg 49 of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.60
Appears in 1 contract
Samples: Commitment Agreement
Relationship Among Parties. (a) Notwithstanding anything herein to the contrarycontrary herein, the duties and obligations of the Commitment Parties arising Consenting Stakeholders under this Agreement shall be several, not joint. Nothing contained herein None of the Consenting Stakeholders shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities to each other, any Consenting Stakeholder, any Company Party, or any of the Company Party’s respective creditors or other stakeholders, and there are no commitments among or between the Consenting Stakeholders, in each case except as expressly set forth in this Agreement. It is understood and agreed that any Consenting Stakeholder may trade in any debt or equity securities of any Company Parties without the consent of CURO or any Consenting Stakeholder, subject to Section 8 of this Agreement and applicable securities laws. No prior history, pattern or practice of sharing confidence among or between any of the Consenting Stakeholders, and/or the Company Parties shall in any way affect or negate this understanding and agreement. The Parties have no agreement, arrangement or understanding with respect to acting together for the purpose of acquiring, holding, voting or disposing of any securities of any of the Company Parties and do not constitute a “group” within the meaning of Section 13(d)(3) of the Exchange Act or Rule 13d-5 promulgated thereunder. For the avoidance of doubt, (a) each Consenting Stakeholder is entering into this Agreement directly with the Company Parties and not with any other Consenting Stakeholder, (b) no other Consenting Stakeholder shall have any right to bring any action against any other Consenting Stakeholder with respect to this Agreement (or any breach thereof), and (c) no Consenting Stakeholder shall, nor shall any action taken by any Commitment Party a Consenting Stakeholder pursuant to this Agreement shall Agreement, be deemed to constitute be acting in concert or as any group with any other Consenting Stakeholder with respect to the obligations under this Agreement nor shall this Agreement create a presumption by any parties that the Commitment Parties, Consenting Stakeholders are in any way acting in concert or as a “group” (or a joint venture, partnership or association). All rights under this Agreement are separately granted to each Consenting Stakeholder by the Company Parties and vice versa, and the use of a single document is for the convenience of the Company will not assert any such claim with respect Parties. The decision to such obligations or commit to enter into the transactions contemplated by this Agreement. The Company acknowledges and each Commitment Party confirms that it Agreement has independently participated in the negotiation of the transactions contemplated under this Agreement with the advice of counsel and advisorsbeen made independently.
(b) In connection with any matter requiring consent or a request of the Commitment Parties under this Agreement, there is no requirement or obligation that such holders agree among themselves to take such action and no agreement among such holders with respect to any such action. In connection with any matter that may be requested by the Commitment Parties, each such holder may, through its counsel, make such request; provided, that the Company will only be required to take such action if it receives the request of the Commitment Parties, as the case may be. In connection with any matter requiring consent of the Commitment Parties hereunder, the Company will solicit consent independently from each such holder or its respective counsel; provided, that such consent shall only be granted if the approval of the Commitment Parties (as applicable) is obtained.
(c) The Company acknowledges that each Commitment Party may be (or may be affiliated with) a full service financial firm and as such from time to time may, together with its Affiliates, effect transactions for its own account or the account of customers, and hold long or short positions in debt or equity securities or loans of business entities that may be the subject of the transactions contemplated by this Agreement. The Company hereby waives and releases, to the fullest extent permitted by Law, any claims the Company may have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or any of its respective Affiliates to bring such transactions, activities, investments or holdings to the Company’s attention.
Appears in 1 contract
Samples: Restructuring Support Agreement (CURO Group Holdings Corp.)