NON-BINDING PROPOSAL Clause Samples
A Non-Binding Proposal clause establishes that the terms or suggestions outlined in a proposal are not legally enforceable and do not obligate either party to proceed with a transaction or agreement. In practice, this means that any discussions, offers, or preliminary documents exchanged between parties are intended solely for negotiation purposes and do not create contractual commitments. This clause is essential for allowing parties to explore potential deals or arrangements without the risk of being legally bound by preliminary communications, thereby facilitating open negotiation and reducing the risk of unintended obligations.
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NON-BINDING PROPOSAL. Covenants: 1) Comprehensive annual financial report (CAFR) within 270 days of fiscal
NON-BINDING PROPOSAL. This letter is intended as a general recitation of the principle terms of the proposed Merger and, except for paragraphs 1(c),2,3 and 4, does not constitute a contract legally binding upon either party. The Merger Agreement if, as, and when executed by the parties, will be the legally binding contract between the parties on all other terms.
NON-BINDING PROPOSAL. It is expressly understood and agreed by all parties that this letter
NON-BINDING PROPOSAL. Prepayment Penalty: Option A: The City will incur a 1.00% prepayment penalty of the outstanding principal balance if the Series 2020 loan is paid in full during the first 3 years of the loan. Principal reductions in excess of the determined amortization schedule will also be subject to the 1.00% prepayment penalty for the first 3 years of the loan.