RELATIONSHIP OF PARTICIPANTS. 30.1 The covenants, obligations and liabilities of the Participants are intended to be several and not joint or collective and nothing herein contained shall ever be construed to create an association, joint venture, trust or partnership, or to impose a trust or partnership covenant, obligation or liability on or with regard to any one or more of the Participants. Each Participant shall be individually responsible for its own covenants, obligations and liabilities as herein provided. No Participant or group of Participants shall be under the control of or shall be deemed to control any other Participant or the Participants as a group. No Participant shall be the agent of or have a right or power to bind any other Participant without its express written consent, except as expressly provided in this Participation Agreement or other Project Agreements.
30.2 The Participants hereby elect to be excluded from the application of Subchapter “K” of Chapter 1 of Subtitle “A” of the Internal Revenue Code of 1954, or such portion or portions thereof as may be permitted or authorized by the Secretary of the Treasury or his delegate insofar as such Subchapter, or any portion or portions thereof, may be applicable to the Participants under the Project Agreements.
RELATIONSHIP OF PARTICIPANTS. Nothing contained in this Agreement shall constitute, or be construed to create, a partnership, joint venture, agency or any other relationship other than that of independent contractors to this Agreement.
RELATIONSHIP OF PARTICIPANTS. The covenants, obligations and liabilities of the Participants and the Development Manager are intended to be several and not joint or collective and nothing herein contained shall ever be construed to create an association, joint venture, trust, partnership or other legal relationship, or to impose a trust or partnership covenant, obligation or liability on or with regard to any of the Participants or the Development Manager. No member or customer of a Participant or customer of a member of a Participant shall be deemed a Participant or party under this Agreement unless they have or it has explicitly accepted in writing all of the terms and conditions of this Agreement. Each Participant and the Development Manager shall be individually responsible for its own covenants, obligations and liabilities as herein provided. No Participant shall be under the control of or shall be deemed to control any other Participant or the Participants as a group. No Participant acting in any capacity shall be the agent of or have a right or power to bind any other Participant without its express written consent, except as set forth in this Agreement.
RELATIONSHIP OF PARTICIPANTS. (a) Nothing contained in a Joint Venture Document will be deemed to constitute a Participant being the partner of any other Participant.
(b) Except as otherwise specifically provided for in a Joint Venture Document, nothing contained in a Joint Venture Document will be construed so as to constitute a Participant an agent or representative of any other Participant or to create any trust for any purpose howsoever, except to the extent to which the Manager is the agent of the Participants.
(c) No Participant shall be under any fiduciary or other duty to the other which will prevent it from engaging in or enjoying the benefits of any competing endeavours, subject to the express provisions of this agreement.
RELATIONSHIP OF PARTICIPANTS. FEES............... ........................................................................................................... UNCONTROLLABLE FORCES................................................................. ............
RELATIONSHIP OF PARTICIPANTS. (a) The Participants each own an undivided interest in the Project and as such, the Participants shall share costs of the Project on a Percentage basis except as explicitly provided this Agreement.
(b) Neither the execution nor delivery of this Agreement, nor the consummation of the transactions contemplated hereunder shall create or constitute a partnership, joint venture, trust, limited liability company, corporate or any other form of business organization or arrangement among the Participants. Except as is expressly agreed to in writing in this Agreement or in an Affiliate Contract, no Participant (or any of its agents, officers or employees) shall be an agent or employee of another Participant, nor shall a Participant (or any of its agents, officers or employees) have any power to assume or create any obligation on behalf of the other Participants.
(c) Each Participant shall severally bear its respective Percentage of all obligations and liabilities of the Project as it arises. No Participant shall have a right or power to bind any other Participant without its written consent, except by action of the Management Committee in accordance with this Agreement.
(d) IN THEIR RELATIONS WITH EACH OTHER UNDER THIS AGREEMENT, THE PARTICIPANTS SHALL NOT BE CONSIDERED FIDUCIARIES OR TO HAVE ESTABLISHED A CONFIDENTIAL RELATIONSHIP, BUT RATHER SHALL BE FREE TO ACT ON AN ARM'S LENGTH BASIS IN ACCORDANCE WITH THEIR OWN RESPECTIVE SELF-INTEREST. NO PARTICIPANT NOR ANY AFFILIATE OF ANY PARTICIPANT, BY REASON OF SUCH PARTICIPANT'S OWNERSHIP INTEREST OR APPOINTMENT OF A REPRESENTATIVE (OR ALTERNATE) TO THE MANAGEMENT COMMITTEE, SHALL BE PRECLUDED FROM ENGAGING IN ANY ACTIVITIES SIMILAR TO THOSE TO BE CONDUCTED BY THE OTHER PARTICIPANTS IN RESPECT OF THE PROJECT OR ANY ACTIVITIES INCIDENTAL OR RELATED THERETO.
RELATIONSHIP OF PARTICIPANTS. 30.1 The covenants, obligations, and liabilities of the Participants are intended to be several and not joint or collective and nothing herein contained shall ever be construed to create an association, joint venture, trust, or partnership or to impose a trust or partnership covenant, obligation, or liability on or with regard to any one or more of the Participants. Each Participant shall be individually responsible for its own covenants, obligations, and liabilities as herein provided. No Participant or group of Participants shall be under the control of or shall be deemed to control any other Participant or the Participants as a group. No Participant shall be the agent of or have a right or power to bind any other Participant without its express written consent, except as expressly provided in the Project Agreements.
RELATIONSHIP OF PARTICIPANTS. (a) Claims by third parties arising out of the activities of the Joint Venture shall be borne by the Participants in proportion to their respective Participating Interests.
(b) Subject to the terms of this Agreement, the right of each Party to mine and market production from other sources in competition with the other Parties and of each Participant to market its share of any Product in competition with any other Participant is confirmed.
RELATIONSHIP OF PARTICIPANTS. 24.1 The covenants, obligations and liabilities of the Participants are intended to be several and not joint or collective and, except as expressly provided in the Project Agreements, nothing herein contained shall ever be construed to create an association, joint venture, trust or partnership, or to impose a trust or partnership covenant, obligation or liability on or with regard to any one or more of the Participants. Each Participant shall be individually responsible for its own covenants, obligations and liabilities as herein provided. No Participant shall be the agent of or have a right or power to bind any other Participant without its express written consent, except as provided in the Project Agreements.
RELATIONSHIP OF PARTICIPANTS. 25.1 The covenants, obligations and liabilities of the Participants shall be several and not joint or collective. Each Participant shall be individually responsible for its own covenants, obligations and liabilities as herein provided.
