Common use of Effect of Term Sheet Clause in Contracts

Effect of Term Sheet. This Term Sheet contains an outline of principal terms of the Proposed Transaction only and, except for Sections 8.1, 8.2 and 9.2 to 9.9 inclusive (collectively, the “Binding Obligations”) shall not be legally binding upon either Party hereto. It is agreed that, with the exception of the Binding Obligations, no agreement has been reached by the Parties with respect to the subject matter of the Proposed Transaction. Accordingly, except for the Binding Obligations, if for any reason whatsoever the Definitive Agreement is not executed, neither Party hereto shall be entitled to any form of relief whatsoever relating to the Proposed Transaction, including, without limitation, injunctive relief or damages. The Binding Obligations shall be binding upon and enforceable against the Parties and their successors and permitted assigns and shall survive the termination of this Term Sheet.

Effect of Term Sheet. This Term Sheet contains an outline of principal terms of the Proposed Transaction only and, except for Sections 8.17.1, 8.2 7.2 and 9.2 to 9.9 8.1 and 8.6 inclusive (collectively, the “Binding Obligations”) shall not be legally binding upon either Party hereto. It is expressly agreed and acknowledged that, with the exception of the Binding Obligations, no agreement has been reached by the Parties with respect to the subject matter of the Proposed TransactionParties. Accordingly, except for the Binding Obligations, if for any reason whatsoever the Definitive Agreement Proposed Transaction is not executedconsummated, neither Party hereto shall be entitled to any form of relief whatsoever relating to the Proposed Transactionwhatsoever, including, without limitation, injunctive relief or damages. The Binding Obligations shall be legally binding upon and enforceable against the Parties and their successors and permitted assigns and shall survive the termination of this Term Sheet.

Effect of Term Sheet. This Term Sheet contains an outline of principal terms of the Proposed Transaction Agreements only and, except for Sections 8.17.1, 8.2 7.2 and 9.2 to 9.9 8.1 and 8.7 inclusive (collectively, the “Binding Obligations”) shall not be legally binding upon either Party any of the Parties hereto. It is expressly agreed and acknowledged that, with the exception of the Binding Obligations, no agreement has been reached by the Parties with respect to the subject matter of the Proposed TransactionParties. Accordingly, except for the Binding Obligations, if for any reason whatsoever the Definitive Agreement is proposed transactions are not executedconsummated, neither Party hereto none of the Parties shall be entitled to any form of relief whatsoever relating to the Proposed Transactionwhatsoever, including, without limitation, injunctive relief or damages. The Binding Obligations shall be legally binding upon and enforceable against the Parties and their successors and permitted assigns and shall survive the termination of this Term Sheet.