Status of MOU. 3.1 The parties acknowledge and agree that this MOU does not create any legally enforceable rights or impose any legally binding obligations including any direct or indirect rights on the part of third parties. This MOU sets forth a statement of intent of HKEx and the SFC regarding the arrangements and procedures for facilitating the performance of their respective functions.
3.2 Each of the parties shall use all reasonable endeavours to:
3.2.1 maintain a good working relationship with the other with respect to all matters referred to herein;
3.2.2 cooperate with the other in complying with the provisions hereof; and
3.2.3 perform its obligations hereunder, fully, in good faith and to the best of its ability.
3.3 In the case of a failure or refusal of HKEx or an Exchange Company or clearing house to comply fully with the provisions of this MOU, then the SFC may, in its absolute discretion, take any action it considers necessary or desirable in the public interest and may exercise its powers as it deems necessary under any applicable legislation. In the case of a failure or refusal by either party to comply with the provisions of this MOU, the other party hereto may unilaterally terminate this MOU by giving not less than 14 days written notice (which shall include the reason or reasons for such termination) to the other party.
3.4 Prior to the SFC taking any action it considers necessary or desirable in the public interest or exercise its powers as it deems necessary under any applicable legislation under paragraph 3.3, it shall give HKEx a reasonable opportunity of being heard.
3.5 This MOU is a public document and the contents hereof may be disclosed and copies may be furnished by any party hereto to any third party without the consent of the other party hereto.
3.6 Nothing in this MOU shall affect the right of the SFC to exercise any of its powers or perform any of its functions under any of the relevant Ordinances.
3.7 Nothing in this MOU shall affect the right of HKEx, the Exchange Companies and clearing houses to exercise their rights and powers and perform any of their functions under any of the relevant Ordinances.
Status of MOU. 16.1 This MoU records a formal agreement between the Parties and the Parties acknowledge this MoU does not create a legally binding contract.
16.2 This MoU replaces and supersedes any existing MoUs between the Parties in relation to the Programme.
Status of MOU. The Parties agree to be bound by the provisions of Sections 2, 4, 5, 6 and 7 hereof and agree that the remaining Sections of this MOU are not intended to be legally binding and represent the framework for future discussions between the Parties in relation to the Collaboration.
Status of MOU. This MoU is not intended to create any legally binding obligations or requirements on the part of, or as between, any of the Participants.
Status of MOU. 1.1 The parties acknowledge that this MoU:
(a) shall be legally binding on the parties in all respects; and
(b) replaces any previous agreement or understanding between the parties with regard to its subject matter, including the MoU dated 21 December 2021.
1.2 The parties agree to act in good faith in implementing and complying with the agreed procedures under this MoU.
Status of MOU. 1. Nothing in this MoU is intended to create any legally binding relationship between the Participants, nor is it intended to have any legal or binding effect on either Participant.
2. Nothing in this MoU prevents either Participant from cooperating with other States, space agencies or any other entity.
3. Nothing in this MoU is intended to have any legal or binding effect on the Governments of the Republic of Korea or Australia.
Status of MOU. 24.1 Subject to clause 2.4, this MoU is not intended to be legally binding, and no legal obligations or legal rights shall arise between the Parties from the MoU. The Parties enter into the MoU intending to honour all their obligations.
24.2 Nothing in the MoU is intended to, or shall be deemed to, establish any partnership or joint venture between the Parties, constitute either part as the agent of the other Party, nor authorise either of the Parties to make or enter into any commitments for or on behalf of the other Party.
24.3 This MoU does not give rise to any rights for a third party to enforce any of its terms.
Status of MOU. The MoU is an operational document. It is not a legally binding contract except to the extent (if any) specifically set out in its terms.
Status of MOU. The Parties acknowledge that this MoU does not constitute a binding commitment with respect to any project that may arise out of this cooperation or the Purpose and is not an offer of either Party to the other Party to enter into any further arrangement. Nothing in this MOU creates, or is intended to create any legally enforceable rights or impose any legally binding obligations on the Participants. Any disagreement arising out of or in connection with this MOU will be resolved amicably by the Participants through mutual consultation. Nothing in this MOU is intended to restrict the Participants’ ability to cooperate with each other or with any third parties. The Parties intend for activities under this MOU to be conducted in accordance with their respective domestic laws and regulations.
Status of MOU. The Parties agree to be bound by the provisions of Sections 2(a), (c)-(f), 3 and 4 hereof and agree that the remaining Sections of this MOU are not intended to be legally binding, and only represent the non-binding framework for future discussions between the Parties in relation to the Collaboration. Therefore, the terms set out in this MOU are only an expression of the current intention of the Parties regarding the negotiation process of the proposed Collaboration contemplated by this MOU. This MOU does not create any obligation to conclude and sign a license agreement or any other agreement, i.e. either Party may at any time end discussions and negotiations and declare its withdrawal from the negotiations by means of written notice (including e-mail) to the other Party without having to give any reason or incurring any liability.
