Each party agrees to release, defend and hold the other party, to the extent permitted by law, from and against any and all claims, claims, actions, debts, losses, damages and expenses, including reasonable attorneys` fees, arising out of or resulting from the acts or omissions of the released party in connection with its participation in this agreement. and each party shall bear the proportionate cost of all damages caused by the fault of that party, its senior management, representatives, staff and independent contractors. The intention of the parties is that in the event of found guilt, the principles of comparative fault should be applied. During their elaboration, both parties can define the important aspects of their agreement. Before drafting a statement of intent, each party would begin with a planning phase. At this point, they decide what they want to get out of the deal. This Memorandum of Understanding should not create a formal agreement or commitment. Instead, it is an agreement between the Parties to cooperate in this manner in order to promote a climate of cooperation and alliance for an effective and effective partnership, objectives and commitments relating to all matters relating to __ be provided for under ____________. .