Binding Statement Clause Samples
A Binding Statement clause establishes that the terms and conditions outlined in the agreement are legally enforceable and obligate the parties to comply. In practice, this clause confirms that both parties have read, understood, and agreed to be bound by the contract, often requiring signatures or other formal acknowledgments. Its core function is to ensure that the agreement is not merely a statement of intent but a legally binding commitment, thereby providing certainty and enforceability for all involved parties.
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Binding Statement. This MOU expresses the intention of the parties. The parties acknowledge that this MOU is not intended to create, and does not create any right, benefit, or trust responsibility, substantive or procedural, enforceable at law or equity, by either Party, its officers, employees, or agents against the other Party, its officers, employees, or agents. Nothing in this MOU obligates either Party to commit or transfer any funds, assets, or other resources in support of projects or activities between the two Parties. Neither Party will use the name of the other, either expressly or by implication, in any publicity, solicitation or advertisement without the written approval of the other Party to this MOU. This MOU may be written in both [language of International Partner] and English texts. In the event that there are interpretation discrepancies between the two texts, the English version shall prevail.
Binding Statement. If Tenant does not object in writing to an Annual Statement within eighteen (18) months after delivery thereof, such Annual Statement shall be final and binding upon Tenant.