Common use of Relationship Among Parties Clause in Contracts

Relationship Among Parties. Notwithstanding anything to the contrary herein, the duties and obligations of the Commitment Parties under this Agreement shall be several, not joint. None of the Commitment Parties shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities to each other, any Commitment Party, any Company Party, or any of the Company Party’s respective creditors or other stakeholders, and there are no commitments among or between the Commitment Parties, 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 Commitment Parties 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 Commitment Party is entering into this Agreement directly with the Company and not with any other Commitment Party, (2) no other Commitment Party shall have any right to bring any action against any other Commitment Party with respect to this Agreement (or any breach thereof) and (3) no Commitment Party shall, nor shall any action taken by a Commitment Party pursuant to this Agreement, be deemed to be acting in concert or as any group with any other Commitment Party with respect to the obligations under this Agreement nor shall this Agreement create a presumption that the Commitment Parties are in any way acting as a group. All rights under this Agreement are separately granted to each Commitment Party by the Company and vice versa, and the use of a single document is for the convenience of the Company. The decision to commit to enter into the transactions contemplated by this Agreement has been made independently.

Appears in 4 contracts

Samples: Backstop Commitment Agreement (Parker Drilling Co /De/), Restructuring Support Agreement (Parker Drilling Co /De/), Backstop Commitment Agreement (Parker Drilling Co /De/)

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Relationship Among Parties. Notwithstanding anything to the contrary herein, the duties and obligations of the Commitment Parties under this Agreement shall be several, not joint. None of the Commitment Parties shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities to each other, any Commitment Party, any Company PartyDebtor, or any of the Company Party’s Debtors’ respective creditors or other stakeholders, and there are no commitments among or between the Commitment Parties, 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 Commitment Parties and/or the Company Parties Debtors 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: (1a) each Commitment Party is entering into this Agreement directly with the Company Debtors and not with any other Commitment Party, (2b) no other Commitment Party shall have any right to bring any action against any other Commitment Party with respect to this Agreement (or any breach thereof) and (3c) no Commitment Party shall, nor shall any action taken by a Commitment Party pursuant to this Agreement, be deemed to be acting in concert or as any group with any other Commitment Party with respect to the obligations under this Agreement nor shall this Agreement create a presumption that the Commitment Parties are in any way acting as a group. All rights under this Agreement are separately granted to each Commitment Party by the Company Debtors and vice versa, and the use of a single document is for the convenience of the CompanyDebtors. The decision to commit to enter into the transactions contemplated by this Agreement has been made independently.

Appears in 2 contracts

Samples: Put Option Agreement (Monitronics International Inc), Put Option Agreement

Relationship Among Parties. Notwithstanding anything to the contrary herein, the duties and obligations of the Commitment Parties Consenting Stakeholders under this Agreement shall be several, not joint, with respect to each Consenting Stakeholder. None of the Commitment Parties shall have any fiduciary duty, It is understood and agreed that no Consenting Stakeholder owes any duty of trust or confidence in of any form, kind or form to any other duties or responsibilities to each other, any Commitment Party, any Company Party, or any Party as a result of the Company Party’s respective creditors or other stakeholdersentering into this Agreement, and there are no commitments among or between the Commitment PartiesConsenting Stakeholders, in each case except as expressly set forth in this Agreement. In this regard, it is understood and agreed that any Consenting Stakeholder 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 Stakeholder 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 confidence confidences among or between any of the Commitment Parties and/or the Company Parties shall in any way affect or negate this understanding and agreement. The Parties have no agreementNo Consenting Stakeholder shall, arrangement or understanding with respect as a result of its entering into and performing its obligations under this Agreement, be deemed to acting together for the purpose be part 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 (as that term is used in Section 13(d)(313(d) of the Exchange Act or Rule 13d-5 promulgated thereunder) with any other Party. For the avoidance of doubt: (1) each Commitment Party is entering into this Agreement directly with the Company and not with any other Commitment Party, (2) no other Commitment Party shall have any right to bring any action against any other Commitment Party with respect to this Agreement (or any breach thereof) and (3) no Commitment Party Consenting Stakeholder shall, nor shall any action taken by a Commitment Party Consenting Stakeholder pursuant to this Agreement, be deemed to be acting in concert or as any group with any other Commitment Party Consenting Stakeholder with respect to the obligations under this Agreement nor shall this Agreement create a presumption that the Commitment Parties Consenting Stakeholders are in any way acting in concert or as a group. All rights under this Agreement are separately granted to each Commitment Party by the Company and vice versa, and the use of a single document is for the convenience of the Company. .” The decision to commit to enter into the transactions contemplated by this Agreement has been made independentlyindependently by each Party hereto.

Appears in 2 contracts

Samples: Transaction Support Agreement (Bonanza Creek Energy, Inc.), Transaction Support Agreement (HighPoint Resources Corp)

Relationship Among Parties. Notwithstanding anything to the contrary herein, the duties and obligations of the Commitment Parties under this Agreement shall be several, not joint. None of the Commitment Parties shall have any fiduciary duty, any duty of trust or confidence in any form, or other duties or responsibilities to each other, any Commitment Party, any Company PartyGroup Members, or any of the Company Party’s Group Members’ respective creditors or other stakeholders, and there are no commitments among or between the Commitment Parties, 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 Commitment Parties and/or the Company Parties Group Members 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 Group Members 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 Commitment Party is entering into this Agreement directly with the Company and not with any other Commitment Party, (2) no other Commitment Party shall have any right to bring any action against any other Commitment Party with respect to this Agreement (or any breach thereof) and (3) no Commitment Party shall, nor shall any action taken by a Commitment Party pursuant to this Agreement, be deemed to be acting in concert or as any group with any other Commitment Party with respect to the obligations under this Agreement nor shall this Agreement create a presumption that the Commitment Parties are in any way acting as a group. All rights under this Agreement are separately granted to each Commitment Party by the Company and vice versa, and the use of a single document is for the convenience of the Company. The decision to commit to enter into the transactions contemplated by this Agreement has been made independently.

Appears in 2 contracts

Samples: Backstop Commitment Agreement (Bristow Group Inc), Backstop Commitment Agreement

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Relationship Among Parties. Notwithstanding anything to (a) For the contrary hereinavoidance of doubt, the duties Consenting Sponsor and obligations of the Commitment Parties under this Agreement shall be severalConsenting Creditors act in their individual capacities and not as agent, not joint. None of trustee, or in any other fiduciary capacity with respect to any other Party. (b) It is understood and agreed that the Commitment Parties shall Consenting Sponsor and each Consenting Creditor have any fiduciary duty, any no duty of trust or confidence in any formkind or form with any other Party or other person as a result of this Agreement. In this regard, it is understood and agreed that any Party may trade in any Claims or Interests, or other duties or responsibilities to each other, any Commitment Party, any Company Party, or any debt of the Company without the consent of the Company or any other Party’s respective creditors or other stakeholders, but subject to the Existing Funded Debt Documents, as applicable, the terms of this Agreement, and there are any confidentiality agreement entered into with the Company; provided that no commitments among Party shall have any responsibility for any such trading to any other person or between the Commitment Parties, in each case except as expressly set forth in entity by virtue of this Agreement. No prior history, pattern pattern, or practice of sharing confidence confidences among or between any of the Commitment Parties and/or the Company Parties shall in any way affect or negate this understanding and agreementAgreement. The Parties have no acknowledge that this agreement does not constitute an agreement, arrangement arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting voting, or disposing of any equity securities of any of the Company and the Parties and do not constitute a “group” within the meaning of Section 13(d)(3) of Rule 13d-5 under the Securities Exchange Act or Rule 13d-5 promulgated thereunderof 1934, as amended. For the avoidance of doubt: (1) each Commitment Party is entering into this Agreement directly with the Company and not with any other Commitment Party, (2) no other Commitment Party shall have any right to bring any action against any other Commitment Party with respect to this Agreement (or any breach thereof) and (3) no Commitment Party shall, nor shall any No action taken by a Commitment any Party pursuant to this Agreement, Agreement shall be deemed to be acting in concert constitute or as any group with any other Commitment Party with respect to the obligations under this Agreement nor shall this Agreement create a presumption by any of the Parties that the Commitment Parties are in any way acting in concert or as such a “group.” (c) Notwithstanding anything to the contrary herein, nothing in this Agreement shall require any Party or representative of a Party that becomes a member of a statutory committee that may be established in any proceeding before a court of competent jurisdiction to take any action, or to refrain from taking any action, in such person’s capacity as a group. All rights under statutory committee member; provided that nothing in this Agreement are separately granted shall be construed as requiring any Party to each Commitment Party by the Company and vice versa, and the use serve on any statutory committee that may be established in any proceeding before a court of a single document is for the convenience of the Company. The decision to commit to enter into the transactions contemplated by this Agreement has been made independentlycompetent jurisdiction.

Appears in 1 contract

Samples: Transaction Support Agreement (Sinclair Broadcast Group Inc)

Relationship Among Parties. Notwithstanding anything to the contrary herein, the duties and obligations of the Commitment Parties under this Agreement shall be several, not joint. None of the Commitment Parties Consenting Lenders shall have any fiduciary duty, any duty of or trust or confidence in any form, or other duties or responsibilities to each other, any Commitment PartyConsenting Lenders, any the Company Party, Parties or any of the Company Party’s respective Parties’ creditors or other stakeholders, and including without limitation any holders of Company Claims/Interests, and, other than as expressly set forth herein, there are no commitments among or between the Commitment PartiesConsenting Lenders. It is understood and agreed that any Consenting Lenders may trade in any debt or equity securities of any Company Party without the consent of the Company Parties or any other Consenting Lenders, in each case except as expressly set forth in subject to applicable securities laws, the terms of this Agreement, and the terms of the applicable Prepetition Facilities Documents. No prior history, pattern or practice of sharing confidence confidences among or between any of the Commitment Parties Consenting Lenders 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 Commitment Party is entering into this Agreement directly with the Company and not with any other Commitment Party, (2) no other Commitment Party shall have any right to bring any action against any other Commitment Party with respect to this Agreement (or any breach thereof) and (3) no Commitment Party shall, nor shall any action taken by a Commitment Party pursuant to this Agreement, be deemed to be acting in concert or as any group with any other Commitment Party with respect to the obligations under this Agreement nor shall this Agreement create a presumption that the Commitment Parties are in any way acting as a group. All rights under this Agreement are separately granted to each Commitment Party Consenting Lender by the Company Parties and vice versa, and the use of a single document is for the convenience of the CompanyParties. The decision to commit to enter into the transactions contemplated by this Agreement has been made independently. No Consenting Lender shall, as a result of its entering into and performing its obligations under this Agreement, be deemed to be part of a “group” (as that term is used in Section 13(d) of the Exchange Act) with any other Party. For the avoidance of doubt, no action taken by a Consenting Lender pursuant to this Agreement shall be deemed to constitute or to create a presumption by any of the Parties that the Consenting Lenders are in any way acting in concert or as such a “group.

Appears in 1 contract

Samples: Restructuring Support Agreement (CalAmp Corp.)

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