Common use of Financial Arrangement Clause in Contracts

Financial Arrangement. This Memorandum is not a funds obligating document. By signing this Memorandum, the Parties are not bound to take any action or fund any initiative. Each Party will cover the costs of its participation to the joint activities. The activities planned by this Memorandum are subject to the availability of funds and personnel and to the laws and norms in the respective Countries or international obligations and - as far as the Italian Party is concerned - the obligations deriving from its being member of the European Union (EU). Any cost that may arise from the implementation of this Memorandum does not imply further additional expenses to the respective State budgets.

Financial Arrangement. This Memorandum is not a funds obligating document. By signing this Memorandum, the Parties are not bound to take any action or fund any initiative. Each Party will cover the costs of its participation to the joint activities. The activities planned by this Memorandum are subject to the availability of funds and personnel and to the laws and norms in the respective Countries or international obligations and - as far as the Italian Party is concerned - the obligations deriving from its being member of the European Union (EU). Any cost that may arise from the implementation of this Memorandum does not imply further additional expenses to the respective State budgets.