Common use of The Understanding Clause in Contracts

The Understanding. The understanding recorded in this memorandum between the Parties is not intended to be legally binding. Each Party agrees that this memorandum contains no promise or representation upon which any other Party or person may rely. Each Party undertakes to every other Party not to (and not to attempt to) ▇▇▇, commence, voluntarily aid in any way, prosecute or cause to be commenced or prosecuted against any other Party or its Related Parties any action, suit or other proceeding concerning anything contained in this memorandum (in this jurisdiction or any other). A ‘Related Party’ is a Party's parent, subsidiaries, assigns, transferees, representatives, principals, agents, officers or directors. The Parties’ informal understanding is set out below.