Common use of Nonbinding Clause in Contracts

Nonbinding. The Developer acknowledges that, except for Section 7 and the indemnification provisions of Section 16 above which shall all be binding upon the Developer, this Agreement shall not be deemed conclusive or legally binding upon either the Developer or the Authority, and neither the Developer nor the Authority shall have any obligations regarding the Property, the Development or any public assistance described herein, unless and until a Contract is approved by the Board and executed by both the Developer and the Authority, except as otherwise expressly stated herein.

Nonbinding. The Developer acknowledges that, except for Section 7 9, Section 12 and the indemnification provisions of Section 16 4 above which shall all be binding upon the Developer, this Agreement shall not be deemed conclusive or legally binding upon either the Developer or the AuthorityEDA, and neither the Developer nor the Authority EDA shall have any obligations regarding the Redevelopment Property, the Development or any public assistance described herein, unless and until a Definitive Contract is approved by the Board and executed by both the Developer and the Authority, except as otherwise expressly stated hereinEDA.

Nonbinding. The Developer acknowledges that, except for Section 7 and the indemnification provisions of Section 16 above which shall all be binding upon the Developer, this Agreement shall not be deemed conclusive or legally binding upon either the Developer or the Authority, and neither the Developer nor the Authority shall have any obligations regarding the Property, the Development or any public assistance described herein, unless and until a Contract is approved by the Board and executed by both the Developer and the Authority, except as otherwise expressly stated herein.