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. 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. 16.1 This MoU records a formal agreement between the Parties and the Parties acknowledge that this MoU does not create a legally binding contract.
16.2 The Parties agree that they shall enter into this MoU intending to honour all of their obligations and both agree to act in good faith and work collaboratively to achieve the purpose of this MoU.
16.3 This MoU replaces and supersedes any existing MoUs between the Parties in relation to the Programme.
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. This MOU is a statement of intent and should not be interpreted as a binding agreement. It is not intended to create legal relations or obligations between the Parties.
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. 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. The Parties agree to be bound by the provisions of Sections 2, 4, 5, 6, 7 and 8 of this MoU and agree that the remaining Sections of this MoU are non-legally binding and represent the framework for future discussions between the Parties in relation to the Collaboration. The commencement of any activities contemplated by this MoU shall be subject to an agreement and execution of legally binding documentation.
Status of MOU. This MOU is intended to record mutual understandings of the Parties hereto, as on the date hereof. This MOU would be subject to laws (and such rules and regulations) of India as may be applicable during the tenure of this MOU. Clauses 3(iii) of the MOU will supersede and replace Para 2 of procedure for implementation of user pay principle for the services rendered by the BSNL to DOP and vice-versa, which was in effect from 01st October, 2001 and was circulated vide DOP letter No. 25-3-2001-PO, dated 24th September, 2001(Annexed). With this supersession, the terms and conditions for other reciprocal services laid down in User Pay Principle procedure will be re-negotiated and a separate procedure will be signed within three months.
