Common use of Non-Binding Nature Clause in Contracts

Non-Binding Nature. Except as to the provisions of paragraphs 3 and 4 (which provisions are enforceable against the parties in accordance with their terms), the parties understand and agree that (i) this letter sets forth the parties’ current intentions with respect to a possible Transaction and (ii) this letter does not create and is not intended to create a binding and enforceable agreement between the parties or a duty on the part of either party to negotiate in good faith toward a binding contract, and may not be relied upon by either party as the basis for a contract by estoppel or otherwise. A binding agreement with respect to the Transaction will result only from the execution of mutually acceptable Definitive Agreements.