Common use of Financial and other Obligations Clause in Contracts

Financial and other Obligations. 7.1 This MoU does not commit any specific financial obligation or liability on either Party. Each Party shall be responsible for its own costs in connection with all matters relating to the collaborations under this MoU except to the extent specifically mentioned in this MoU. All the expenses on implementation of the programmes under this MoU incurred/to be incurred by the Parties such as travel expenses, personal expenses, per diem, expenses on accommodation, health etc. shall be borne by the respective Party. However, in case of invited lectures, all such expenses of the invitee shall be borne by the inviting host party. In case of external funding of any programme, under this MoU, is considered necessary, either Party, by mutual consultation, may explore the same. 7.2 Nothing in this MoU constitutes or shall construe a Party as the partner, agent, employee or representative of the other Party. A Party to this MoU must not act independently of the other Party and does not have the right or power to commit the other Party on any matter or to incur any obligation on behalf or pledge the credit of, the other Party without the prior written approval of the other Party.