Common use of Non-Binding MOU Clause in Contracts

Non-Binding MOU. a) Notwithstanding anything that might be interpreted to the contrary in this MOU above, this MOU is not intended to create a binding agreement between the Parties, but instead shows good faith and intent to proceed. The Parties acknowledge that this MOU is intended solely to set out an expression of the principal terms of a future easement, with such easement subject to each party’s discretionary approval. By executing this MOU, the Parties agree to move forward in good faith to negotiate and draft an easement for the purposes set out herein. Only a fully executed easement will be a binding obligation between the Parties. CLPUD understands any future easement negotiated between the parties will be subject to the approval of City’s governing body, the Newport City Council. CLPUD further understands that the Newport City Council, in its complete discretion, may accept or reject the negotiated easement.

Non-Binding MOU. a) Notwithstanding anything that might be interpreted to the contrary in this MOU above, this MOU is not intended to create a binding agreement between the Parties, but instead shows good faith and intent to proceed. The Parties acknowledge that this MOU is intended solely to set out an expression of the principal terms of a future easement, with such easement subject to each party’s discretionary approval. By executing this MOU, the Parties agree to move forward in good faith to negotiate and draft an easement for the purposes set out herein. Only a fully executed easement will be a binding obligation between the Parties. CLPUD understands any future easement negotiated between the parties Parties will be subject to the approval of City’s governing body, the Newport City Council. CLPUD further understands that the Newport City Council, in its complete discretion, may accept or reject the negotiated easement.