Common use of Arm’s Length Clause in Contracts

Arm’s Length. The Company acknowledges and agrees that (a) each of the Backstop Parties is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the transactions contemplated hereby (including in connection with determining the terms of the Rights Offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any of its Subsidiaries and (b) no Backstop Party is advising the Company or any of its Subsidiaries as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction.

Appears in 4 contracts

Sources: Backstop Commitment Agreement (Legacy Reserves Inc.), Backstop Commitment Agreement (Legacy Reserves Inc.), Backstop Commitment Agreement (Legacy Reserves Inc.)

Arm’s Length. The Company acknowledges and agrees that (a) each of the Backstop Parties is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the transactions contemplated hereby (including in connection with determining the terms of the Rights Offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any of its Subsidiaries the other Debtors and (b) no Backstop Party is advising the Company or any of its Subsidiaries the other Debtors as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction.

Appears in 3 contracts

Sources: Backstop Commitment Agreement (Noble Corp PLC), Restructuring Support Agreement (Valaris PLC), Backstop Commitment Agreement (Valaris PLC)

Arm’s Length. The Company acknowledges and agrees that that (a) each of the Backstop Parties is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the transactions contemplated hereby (including in connection with determining the terms of the Rights OfferingOfferings) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any of its Subsidiaries the other Debtors and (b) no Backstop Party is advising the Company or any of its Subsidiaries the other Debtors as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction.

Appears in 2 contracts

Sources: Backstop Commitment Agreement, Backstop Commitment Agreement

Arm’s Length. The Company and each Debtor acknowledges and agrees that (a) each of the Backstop Parties is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the transactions contemplated hereby (including in connection with determining the terms of the Rights Offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any of its Subsidiaries and (b) no Backstop Party is advising the Company or any of its Subsidiaries as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction.

Appears in 2 contracts

Sources: Backstop Commitment Agreement, Restructuring Support Agreement (Chesapeake Energy Corp)

Arm’s Length. The Company acknowledges and agrees that that (a) each of the Backstop Parties is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the transactions contemplated hereby (including in connection with determining the terms of the Rights Offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any of its Subsidiaries and (b) no Backstop Party is advising the Company or any of its Subsidiaries as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction.

Appears in 1 contract

Sources: Backstop Commitment Agreement

Arm’s Length. The Company acknowledges and agrees that (a) each of the Backstop Parties is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the transactions contemplated hereby (including in connection with determining the terms of the Rights Offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any of its their Subsidiaries and (b) no Backstop Party is advising the Company or any of its their Subsidiaries as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction.

Appears in 1 contract

Sources: Backstop Commitment Agreement (Nii Holdings Inc)