NONBINDING NATURE. This MOU is for discussion purposes only and does not create a legally binding or enforceable agreement between the Parties, except for Section 3, which shall be binding on the Parties in accordance with its terms. The Parties acknowledge that any definitive rights and obligations regarding the Proposed Transaction will be subject to the execution of a formal written agreement ("Definitive Agreement").
Appears in 17 contracts
Sources: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding