Common use of Transaction Characterization Clause in Contracts

Transaction Characterization. This Agreement is a contract to extend a financial accommodation (as such term is used in the Code) for the benefit of Debtor. It is the intent of the parties hereto that the business relationship created by this Agreement, the Note and the other Loan Documents is solely that of creditor and debtor and has been entered into by both parties in reliance upon the economic and legal bargains contained in the Loan Documents. None of the agreements contained in the Loan Documents is intended, nor shall the same be deemed or construed, to create a partnership between Debtor and Creditor, to make them joint venturers, to make Debtor an agent, legal representative, partner, subsidiary or employee of Creditor, nor to make Creditor in any way responsible for the debts, obligations or losses of Debtor.

Transaction Characterization. This Agreement is a contract to extend a financial accommodation (as such term is used in the Code) for the benefit of Debtor. It is the intent of the parties hereto that the business relationship created by this Agreement, the Note and the other Loan Documents is solely that of creditor and debtor and has been entered into by both parties in reliance upon the economic and legal bargains contained in the Loan Documents. None of the agreements contained in the Loan Documents is intended, nor shall the same be deemed or construed, to create a partnership between Debtor and CreditorLender, to make them joint venturers, to make Debtor an agent, legal representative, partner, subsidiary or employee of CreditorLender, nor to make Creditor Lender in any way responsible for the debts, obligations or losses of Debtor.