until such time as the parties otherwise execute and/or exchange a more definitive agreement
You now say
My interpretation of EI's verbiage is that they now have a LOU, but they contemplate entering into a contract, which will contain more definitive terms, in the future.
So, now you think a "more definitive agreement" means "contract" but a "binding LOU" doesn't mean anything?
same WRONG questions over and over is what I was referring to as