No Fiduciary Duty Clause Example from Business Contracts

No Fiduciary Duty. Each of the Company, the Operating Partnership, the Forward Purchasers and the Forward Sellers hereby acknowledges and agrees that (a) the purchase and sale of the Shares pursuant to this Agreement is an arm's-length commercial transaction between the Company, on the one hand, and the Underwriters, the Forward Purchasers, the Forward Sellers and any affiliate thereof through which it may be acting, on the other, (b) each of the Underwriters, the Forward Purchasers and the Forward Sellers is acti...ng as principal and not as an agent or fiduciary of the Company or the Operating Partnership and (c) the engagement of the Underwriters, the Forward Purchasers and the Forward Sellers by the Company and the Operating Partnership in connection with the offering and the process leading up to the offering is as independent contractors and not in any other capacity. Furthermore, each of the Company and the Operating Partnership agrees that it is solely responsible for making its own judgments in connection with the offering (irrespective of whether any of the Underwriters, the Forward Purchasers or the Forward Sellers has advised or is currently advising the Company or the Operating Partnership on related or other matters). Each of the Company and the Operating Partnership agrees that it will not claim that any of the Underwriters, the Forward Purchasers or the Forward Sellers have rendered advisory services of any nature or respect, or owe an agency, fiduciary or similar duty to the Company or the Operating Partnership, in connection with such transaction or the process leading thereto. View More