Common use of Nature of the Parties Clause in Contracts

Nature of the Parties. This Agreement does not constitute an agreement for a partnership or a joint venture between the Principal and the Agent All expenses and costs incurred by the Agent in meeting its obligations under this Agreement shall be solely those of the Agent and the Principal shall not be liable for payment. Similarly, all expenses and costs incurred by the Principal in meeting its obligations under this Agreement shall be solely those of the Principal and the Agent shall not be liable for payment. The Agent may make no commitments with third parties that are binding upon the Principal without the Principal's written consent and the Agent in no way shall hold itself out as having that power.