(b) The Parties each hereby acknowledge and agree that in connection with this Memorandum, they may have access to information that is confidential and/or commercially valuable to one or more of the other Parties ("Confidential Information"). The Parties acknowledge and agree that if they need to be protected by a binding Confidentiality Agreement, they will prepare such a binding Confidentiality Agreement separately. (a) For the sake of clarity, this "Confidentiality" clause, like the rest of this Memorandum, is not intended to be legally binding. (b) _ will have the following obligations in relation to the Project: (a) _ will have the following obligations in relation to the Project: (c) The Parties will have the obligations as described below: (b) Each Party agrees to cooperate in the spirit of mutual understanding and goodwill in order to develop the Parties' relationships with one another and in order to pursue the Purpose. (a) Notwithstanding the non-binding nature of this Memorandum, the Parties will act in good faith and will use their best endeavours to achieve the Purpose and to give effect to the terms of this Memorandum. (b) Any changes to this Memorandum must be made in writing and signed by the Parties. (a) This Memorandum may be amended at any time by agreement between the Parties. (VIII) Notwithstanding the preceding subclauses hereof, this Memorandum provides an accurate representation of the Parties' respective intentions as at the date of this Memorandum. (VII) Nothing in this Memorandum affects any other agreement(s) which may exist between the Parties as at the date of this Memorandum or at any subsequent date. (VI) This Memorandum is a statement of intent by the Parties and is intended to encourage mutual cooperation. (V) This Memorandum does not create any rights, obligations or duties for any Party. (IV) Nothing in this Memorandum will be construed as creating any legal relationship between the Parties. (III) The terms of this Memorandum are expressly "subject to contract" until a final written contract in relation to the Project is entered by the Parties. (II) The terms of this Memorandum are not exhaustive and (I) The terms of this Memorandum are not intended to be legally binding and (a) The Parties hereby acknowledge and agree that: (b) The Project has the following purpose ("the Purpose"): (a) The Parties intend to investigate the prospect of working together and/or to actually work together, on a project which will be referred to as _ ("the Project"). This Memorandum is not intended to be legally binding but is intended to document the expectations of each Party.Įach Party respectively is expected to act in good faith in accordance with this Memorandum.
This Memorandum sets out the initial relationship between the Parties as well as the respective rights and responsibilities of each Party. The Parties are interested in working together in connection with the Purpose which is described in this Memorandum.
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