Common use of Relationship Among Parties Clause in Contracts

Relationship Among Parties. Notwithstanding anything herein to the contrary, the duties and obligations of the Supporting Parties under this Agreement shall be several, not joint. It is understood and agreed that no Supporting Party has any duty of trust or confidence of any kind or form with respect to any other Supporting Party or the Company, and, except as expressly provided in this Agreement, there are no commitments between or among them. In this regard, it is understood and agreed that any Supporting Party may trade in the Claims and Interests without the consent of the Company or any other Supporting Party, subject to applicable securities laws and the terms of this Agreement; provided, however, that no Supporting Party 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 between or among the Supporting Parties or the Company shall in any way affect or negate this Agreement. No Supporting Party 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 and the rules and regulations promulgated thereunder) with any of the other Supporting Parties.

Appears in 3 contracts

Samples: Restructuring Support Agreement, Restructuring Support Agreement (RCS Capital Corp), Restructuring Support Agreement

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Relationship Among Parties. Notwithstanding anything herein to the contrary, the duties and obligations of the Supporting Parties Noteholders under this Agreement shall be several, not joint. It is understood and agreed that no Supporting Party Noteholder has any duty of trust or confidence of any kind or form with respect to any other Supporting Party Noteholder or the Company, and, except as expressly provided in this Agreement, there are no commitments between or among them. In this regard, it is understood and agreed that any Supporting Party Noteholder may trade in the Claims and Interests without the consent of the Company or any other Supporting PartyNoteholder, subject to applicable securities laws Applicable Laws and the terms of this Agreement; provided, however, that no Supporting Party Noteholder shall have any responsibility for any such trading to any other Person by virtue of this Agreement. No prior history, pattern pattern, or practice of sharing confidences between or among the Supporting Parties Noteholders or the Company shall in any way affect or negate this Agreement. No Supporting Party Noteholder 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 and the rules and regulations promulgated thereunder) with any of the other Supporting PartiesNoteholders.

Appears in 3 contracts

Samples: Restructuring Support Agreement (Ion Geophysical Corp), Restructuring Support Agreement (Ion Geophysical Corp), Restructuring Support Agreement (Ion Geophysical Corp)

Relationship Among Parties. Notwithstanding anything herein to the contrary, the duties and obligations of the Supporting Parties under this Agreement shall be several, not joint. It is understood and agreed that no Supporting Party has any duty of trust or confidence of any kind or form with respect to any other Supporting Party or the Company, andthat, except as expressly provided in this AgreementAgreement (or in the case of Sillerman as a result of his obligations as an officer or director of the Company), there are no none of the Parties: (a) have any duty of trust or confidence in any kind or form with each other; (b) have or owe any other duties (fiduciary or otherwise (except for the Company’s fiduciary duties under applicable law)) whatsoever to each other; and (c) have commitments among or between or among them. In this regard, it is understood and agreed that any Supporting Party subject to the terms and conditions of this Agreement, the Consenting Noteholders may trade in the Claims and Interests Second Lien Notes or other debt or equity securities of the Company without the consent of the Company or any other Supporting PartyCompany, subject to applicable securities laws and the terms of this Agreement; provided, however, that no Supporting Party 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 or among the Supporting Parties or the Company shall in any way affect or negate this Agreementunderstanding and agreement. No Supporting Party shallAdditionally, this Agreement shall not cause the Consenting Noteholders to be construed as owing any duties (fiduciary or otherwise) to any other party, including, but not limited to, any holders of the Second Lien Notes, as a result the case may be. Notwithstanding anything herein to the contrary, the duties and obligations of its entering into and performing its obligations the Consenting Noteholders under this AgreementAgreement shall be several, be deemed to be part of a “group” (as that term is used in Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder) with any of the other Supporting Partiesnot joint.

Appears in 1 contract

Samples: Restructuring Support Agreement (SFX Entertainment, INC)

Relationship Among Parties. Notwithstanding anything herein to the contrary, the duties and obligations of the Supporting Parties Noteholders under this Agreement shall be several, not joint. It is understood and agreed that no Supporting Party Noteholder has any duty of trust or confidence of any kind or form with respect to any other Supporting Party Noteholder, the Obligors, or the CompanyETI, and, except as expressly provided in this Agreement, there are no commitments between or among them. In this regard, it is understood and agreed that any Supporting Party Noteholder may trade in the Claims and Interests Existing Notes without the consent of the Company Obligors or any other Supporting PartyNoteholder, subject to applicable securities laws Applicable Laws and the terms of this Agreement; provided, however, that no Supporting Party Noteholder shall have any responsibility for any such trading to any other Person by virtue of this Agreement. No prior history, pattern pattern, or practice of sharing confidences between or among the Supporting Parties Noteholders or the Company Parties shall in any way affect or negate this Agreement. No Supporting Party Noteholder 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 and the rules and regulations promulgated thereunder) with any of the other Supporting PartiesNoteholders.

Appears in 1 contract

Samples: Restructuring Support Agreement (Exela Technologies, Inc.)

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Relationship Among Parties. Notwithstanding anything herein to the contrary, the duties and obligations of the Supporting Parties Noteholders under this Agreement shall be several, not joint. It is understood and agreed that no Supporting Party Noteholder has any duty of trust or confidence of any kind or form with respect to any other Supporting Party Noteholder or the Company, and, except as expressly provided in this Agreement, there are no commitments between or among them. In this regard, it is understood and agreed that any Supporting Party Noteholder may trade in the Claims and Interests without the consent of the Company or any other Supporting PartyNoteholder, subject to applicable securities laws Applicable Laws and the terms of this Agreement; provided, however, that no Supporting Party Noteholder shall have any responsibility for any such trading to any other Person by virtue of this Agreement. No prior history, pattern pattern, or practice of sharing confidences between or among the Supporting Parties Noteholders or the Company shall in any way affect or negate this Agreement. No Supporting Party Noteholder 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 section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder) with any of the other Supporting PartiesNoteholders.

Appears in 1 contract

Samples: Restructuring Support Agreement (Nuverra Environmental Solutions, Inc.)

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