Non-Fiduciary Relationship. It is expressly understood and agreed that the PARTIES’ obligations hereunder are not fiduciary in nature.
Non-Fiduciary Relationship. The Parties acknowledge that there is no, and it will not seek or attempt to establish any, fiduciary relationship between the Factor and the Selling Carrier, and each Party waives any right to assert, now or in the future, the existence or creation of any fiduciary relationship between the Factor and the Selling Carrier in any action or proceeding (whether by way of claim, counterclaim, crossclaim or otherwise) for damages.
Non-Fiduciary Relationship. The duties to be performed by Consultant under this Agreement shall be ministerial in nature. Nothing in this Agreement should be construed as granting discretionary authority or discretionary responsibility to the Consultant, its affiliates, officers, employees, agents, and subcontractors with respect to the Plan or its assets, or with respect to individuals participating in the Plan. Under the terms of this Agreement, the Consultant does not render investment advice, is not the plan administrator, trustee or a fiduciary, as these terms or other analogous terms may be defined under applicable state, local, or federal law, and does not provide legal, tax or accounting advice or form preparation services with respect to the creation, adoption or operation of the Plan. In no event shall the Consultant be deemed to act as a fiduciary, whether under ERISA or other applicable law, with respect to the Plan, and this Agreement shall be construed accordingly. The Consultant will not have custody or take physical possession or control of the assets or funds of the Plan. The Consultant shall not have any discretion with respect to any decisions made by or on behalf of the Plan as the Client will retain absolute discretion over all investment and implementation decisions. If, based on changes in the applicable regulatory structure or the interpretation of the regulatory structure, there is a reasonable likelihood that any service being, or to be, provided by the Consultant could constitute a discretionary function and thereby subject the Consultant to classification as a “fiduciary” under applicable state, local, or federal law with respect to an employer-sponsored health plan and such service could not be restructured in a manner that would not subject the Consultant to classification as a “fiduciary” under applicable state, local, or federal law, then the Consultant, upon reasonable notice to the Client and the Plan, may decline to thereafter provide that service. The failure to provide any such service shall not constitute a breach of Consultant’s obligations under this Agreement; however, the parties shall renegotiate the Consulting Fee to account for the reduced scope of Services.
Non-Fiduciary Relationship. Nothing contained herein will be construed as creating any agency, partnership, or other form of joint enterprise between Auction It TODAY and seller.
Non-Fiduciary Relationship. The parties expressly disclaim any partnership, joint venture or fiduciary status or relationship between them.
