No Firm Commitment Sample Clauses
The "No Firm Commitment" clause establishes that neither party is legally bound to proceed with a transaction or agreement until a definitive contract is executed. In practice, this means that any discussions, negotiations, or preliminary documents exchanged between the parties are considered non-binding and do not obligate either side to finalize the deal. This clause is commonly used in letters of intent or term sheets to clarify that ongoing negotiations are exploratory and to prevent misunderstandings about the enforceability of preliminary agreements, thereby reducing the risk of premature legal obligations.
POPULAR SAMPLE Copied 4 times
No Firm Commitment. The Company understands and acknowledges that the undertaking by the Placement Agent pursuant to this Agreement is not a "firm commitment" offering and that the Placement Agent is not obligated in any way to purchase or sell the Units offered hereby.
No Firm Commitment. The rights granted hereunder to Purchaser are not intended to be guaranteed and nothing herein is to be construed as the Company making a firm commitment to file, or cause to be filed with the SEC, a Registration Statement related to the Common Stock at any time in the future.
No Firm Commitment. Company and EI agree that there is no "firm commitment" on the part of EI to purchase or to sell any of the Company's equity.