Common use of NO BUSINESS RELATIONSHIP Clause in Contracts

NO BUSINESS RELATIONSHIP. Each Party understands and agrees that no contract or agreement providing for a business relationship (other than the confidential relationship referred to in Paragraph 2 above) shall be deemed to exist between the Parties unless and until a definitive agreement (“Transaction Agreement”) provides for such relationship has been executed and delivered by each Party. For purposes of this Paragraph 9, the term Transaction Agreement does not include an executed letter of intent or any other preliminary written agreement, nor does it include any written or verbal acceptance of an offer or bid by any Party. The Parties expressly agree that the provision of Proprietary Information hereunder and discussions held in connection with the Purpose shall not (a) prevent either Party from pursuing similar discussions with third parties or obligate either Party to take, continue to forego any action relating to the Purpose (subject to its confidentiality obligations hereunder), or (b) require either Party to disclose any such discussions or action now or in the future.

NO BUSINESS RELATIONSHIP. Each Party understands and agrees that no contract or agreement providing for a business relationship (other than the confidential relationship referred to in Paragraph 2 aboveSection 2) shall be deemed to exist between the Parties unless and until a definitive agreement (“Transaction Agreement”) provides for such relationship has been executed and delivered by each Party. For purposes of this Paragraph Section 9, the term Transaction Agreement does not include an executed letter of intent or any other preliminary written agreement, nor does it include any written or verbal acceptance of an offer or bid by any Party. The Parties expressly agree that the provision of Proprietary Information hereunder and discussions held in connection with the Purpose shall not not (a) prevent either Party from pursuing similar discussions with third parties or obligate either Party to take, continue to forego any action relating to the Purpose (subject to its confidentiality obligations hereunder), or (b) require either Party to disclose any such discussions or action now or in the future.