No Fiduciary Duty Clause Example from Business Contracts

No Fiduciary Duty. The MarkWest Parties and the Selling Unitholder hereby acknowledge that (a) the purchase and sale of the Units from time-to-time pursuant to this Agreement is an arm's-length commercial transaction between the Partnership and the Selling Unitholder, on the one hand, and the Managers and any respective affiliates through which they may be acting, on the other, (b) each Manager is acting solely as sales agent and/or principal in connection with the purchase and sale of the Units and not as a fiduc...iary of the Partnership or the Selling Unitholder and (c) the Partnership and the Selling Unitholder are engaging each of the Managers in connection with the offering and the process leading up to the offering as an independent contractor and not in any other capacity. Furthermore, the MarkWest Parties and the Selling Unitholder agree that the Partnership and the Selling Unitholder are solely responsible for making their own judgments in connection with the offering (irrespective of whether any Manager has advised or is currently advising the Partnership or the Selling Unitholder on related or other matters). The MarkWest Parties and the Selling Unitholder agree that they will not claim that any Manager has rendered advisory services of any nature or respect, or owe an agency, fiduciary or similar duty to the Partnership or the Selling Unitholder, in connection with such transaction or the process leading thereto. View More