Common use of In consideration of Clause in Contracts

In consideration of. Both Parties are joined by similar interests and objectives both, academically and culturally. That joint efforts in the areas of instruction, investigation and extension of technology and related sciences are necessary in order to contribute with the economical and social improvement of their nations as well as to bring them together. That due to their mission and objectives, universities shall look forward to establish appropriate communication channels that will allow scientific, technological and cultural exchanges. That both Parties are committed to similar objectives in areas that promote research, instruction and cultural diffusion. That both Parties are legally empowered to established cooperative agreements. We accede to establish a collaborative Agreement subject to the following stipulations: FIRST: The objective of this Agreement is to install the basis for a reciprocal cooperation that will allow the promotion and development of activities of mutual interest, such as faculty and student exchanges, research projects, as well as the exchange of academic and/or other information of mutual interest.