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[I know meanings of all the words in the highlighted sentence] but I couldn't understand the meaning of the sentence.
So, could anyone rephrase the highlighted sentence so that I can understand it?
Allow me:Hypertext links to other Web locations are for the convenience of users and do not constitute any endorsement or authorisation by Cambridge University
"The links to the other websites are for the convenience of users. (The links are provided so that it's is useful for the users). This doesn't mean that Cambridge University endorses (If you endorse someone or something, you say publicly that you support or approve of them) any of the content provided in those websites."
"Authorisation" = Someone tells you that you are permitted to do something, usually in writing as it is a legal matter.
Authorize: (v.)
"If someone in a position of authority authorizes something, they give their official permission for it to happen."
In this context it basically means that Cambridge University doesn't give any authorizations about the websites they are providing links to.