Nature of MOU. 3.1 This MoU is not intended to be legally binding on the parties or to create any legally enforceable obligations between the parties, save that:
Nature of MOU. 1. This MOU is a statement of intent that is not legally binding and does not create any direct or indirect enforceable right, obligation or liability; nor does it constitute any waiver of immunities or privileges on behalf of either Party or third parties. The Parties will endeavor to fulfill their intents under this MOU so far as consistent with applicable law and policy.
Nature of MOU. Notwithstanding any other clause of this MOU, the Entities understand and acknowledge: (1) that this MOU is non-binding and not contractual in nature and (2) activities under this MOU should be conducted in accordance with all applicable laws, regulations, and other requirements to which the Entities are subject.; and (3) to the extent any of the clauses and provisions of this MOU conflict with the terms of BEA’s DOE Prime Contract, the terms of the DOE Prime Contract prevail, with respect to BEA.
Nature of MOU. This MOU is not intended to be a binding agreement as to any of the issues set forth in Section 6 and Exhibit A and no binding agreement will exist between the Parties with respect to any such issues unless and until the Parties execute and deliver one or more mutually satisfactory definitive agreements as contemplated by Section 6(e) above. Notwithstanding the foregoing, the Parties intend for Sections 8, 9, and 11 of this MOU to be binding on the Parties as of the Effective Date.
Nature of MOU. This MOU outlines the framework of the working relationship between the parties. It does not constitute a contract and is based upon goodwill and is bound in honor only. This MOU does not constitute a partnership or joint venture and neither of the parties can commit the other parties financially or otherwise to third parties.
Nature of MOU. Nothing contained herein shall be construed as being a joint venture, partnership or formal business arrangement of any kind between the Parties as to constitute either Party as the agent of the other. This MOU relates only to the intention contemplated herein and nothing contained herein shall be deemed to create an association, partnership or principal/agent relationship between the Parties hereto or impose any partnership obligations or liability to either Party. Neither party shall have any right, power or authority to enter into any agreement of commitment, act on behalf of, or otherwise bind the other Party in any way until a formal agreement has been reached between the Parties. This MOU represents the good faith, understanding and statement of intention of the Parties to proceed further with the collaboration and as such shall not have any legal binding effect save and except for Clauses 8 and 9 herein.
Nature of MOU. The parties understand that nothing in this MOU shall be construed as a binding contract between the parties, save for the obligations stipulated under Sections 7, 8,10, 13, 14 and 20. Neither Party shall be liable for any direct or indirect damages of any kind arising out of or in connection with this MOU or for any third party claims against the other whatsoever.
Nature of MOU. The Parties agree that this MOU is only an outline of the prospective terms for negotiation of one or more definitive agreements for the transactions contemplated herein. This MOU is not, and shall not be deemed to constitute, a formal or binding agreement of the Parties, except that the Parties shall be obligated to negotiate in good faith the provisions of such definitive agreements, subject to the terms and conditions of this MOU. Any definitive agreements so negotiated shall be subject to final review and approval by the Parties, each in its sole discretion.
Nature of MOU. This MOU is intended to constitute an agreement by the Parties to exclusively negotiate in good faith towards the agreement of a Term Sheet for the potential development agreement and acquisition of the Property. This MOU is not intended to constitute a binding agreement by the Parties to acquire all or any portion of the Property or to construct the Project, nor is it intended to constitute a binding agreement to enter into a Development or Partnership Agreement or any other contract. Notwithstanding any other provision hereof, no Party shall be under any obligation to approve or execute any agreement during or upon conclusion of this MOU. Any Party may refuse to approve and execute any agreement at its sole and absolute discretion, with or without cause.
