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    Memorandum of Undertaking

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    GOLDENDAYS BEVERAGES
    This Memorandum of Understanding (MOU) is between a first party with expertise in arranging loans and a second party seeking a credit facility of Rs. 50 Crore. The first party agrees to arrange financing through various sources for the second party's project. The second party agrees to pay the first party a 2% service charge plus applicable taxes for arranging the financing. The MOU is valid for 60 days, after which it will need to be re-executed or terminated if financing is not arranged. The second party agrees not to interfere with the first party's execution of the assignment during the 60 day contract period. The MOU is signed in duplicate with originals going to each party.

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    Memorandum of Undertaking

    Uploaded by

    GOLDENDAYS BEVERAGES
    118 views2 pages
    This Memorandum of Understanding (MOU) is between a first party with expertise in arranging loans and a second party seeking a credit facility of Rs. 50 Crore. The first party agrees to arrange financing through various sources for the second party's project. The second party agrees to pay the first party a 2% service charge plus applicable taxes for arranging the financing. The MOU is valid for 60 days, after which it will need to be re-executed or terminated if financing is not arranged. The second party agrees not to interfere with the first party's execution of the assignment during the 60 day contract period. The MOU is signed in duplicate with originals going to each party.

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    This Memorandum of Understanding (MOU) is between a first party with expertise in arranging loans and a second party seeking a credit facility of Rs. 50 Crore. The first party agrees to arrange financing through various sources for the second party's project. The second party agrees to pay the first party a 2% service charge plus applicable taxes for arranging the financing. The MOU is valid for 60 days, after which it will need to be re-executed or terminated if financing is not arranged. The second party agrees not to interfere with the first party's execution of the assignment during the 60 day contract period. The MOU is signed in duplicate with originals going to each party.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    118 views2 pages

    Memorandum of Undertaking

    Uploaded by

    GOLDENDAYS BEVERAGES
    This Memorandum of Understanding (MOU) is between a first party with expertise in arranging loans and a second party seeking a credit facility of Rs. 50 Crore. The first party agrees to arrange financing through various sources for the second party's project. The second party agrees to pay the first party a 2% service charge plus applicable taxes for arranging the financing. The MOU is valid for 60 days, after which it will need to be re-executed or terminated if financing is not arranged. The second party agrees not to interfere with the first party's execution of the assignment during the 60 day contract period. The MOU is signed in duplicate with originals going to each party.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    MEMORANDUM OF UNDERTAKING
    This MOU is made and entered into this day of 13th July 2010, at
    Bangalore by & between Sri. Satheesh Magaji, aged about, residing at No.
    and Poondala Saibaba aged about 57 years residing at No 1783. 21,stM a i n , 2 7
    thc r o s s ,   2 nds e c t o r   H S R   L a y o u t   B a n g a l o r e   3 4   a n d   K L a k s h m i Prasad
    , aged about 41 years, residing at No 1783. 21,st Main, 27thcross,2nd s e c t o r H S R
    Layout Bangalore 34, Raja Naidu aged about
    3 5 Y e a r s Residing at herein referred collectively as First Party and Sri. aged
    abouty e a r s ,   r e s i d i n g   a t   N o . ,   B a n g a l o r e - 5 6 0   0 4 3 ,   h e r e i n a f t e r   r e f e r r e d  
    t o   a s Second Party (Consultancy Client)

    WITNESSETH

    Whereas, First party is having expertise in arranging/raising funds or
    loans, project Finance, External Commercial Borrowings, Supplier Credit,Export
    advances from foreign Bank, Bank guarantee, Housing Loans andalso other soft
    loans,Now therefore, in consideration of this MOU (Contract of Consultancy)
    ando f   m u t u a l   p r o m i s e s ,   c o v e n a n t s   a n d   c o n d i t i o n s   h e r e i n   c o n t a i n e d ,   t
    h e parties hereby mutually agree as follows:-

    Whereas, First party is having expertise in arranging/raising funds or
    loans, project Finance, External Commercial Borrowings, Supplier Credit, Export
    advances from foreign Bank, Bank guarantee, Housing Loans and also other soft loans,
    Now therefore, in consideration of this MOU (Contract of Consultancy)
    ando f   m u t u a l   p r o m i s e s ,   c o v e n a n t s   a n d   c o n d i t i o n s   h e r e i n   c o n t a i n e d ,   t
    h e parties hereby mutually agree as follows:-

    A) The second party wants a credit facility of Rs. 50


    C r o r e i n v a r i o u s forms such as Term Loan, Mortgage Loan,
    Working Capital / cash credit for their project for which the first party as
    agreed to arrange required finance through Bank/Financial Institutions/private
    parties etc.,
    B) T h e S e c o n d p a r t y h e r e b y a g r e e s t o p a y s e r v i c e
    c h a r g e s a t 2 % + service tax as applicable on date of payment,
    for arranging theirf i n a n c i a l   r e q u i r e m e n t s   b y   m e a n s   o f  
    C h e q u e s   /   C a s h ,   n e c e s s a r y deductions like TDS shall be deducted as
    per prevailing laws. All
    ora n y   o t h e r   p r o c e s s i n g   c h a r g e s   l e v i e d   b y  
    B a n k / F i n a n c i a l Institutions/Private Financers as per their
    rules and regulations,
    tot h e i r   b o r r o w e r s   s h a l l   b e   b o r n e   b y   t h e   s e c o n d   p a r t y .   A n y  
    o t h e r expenses during the processing of loan has to be borrowed by
    the second party such as travel, legal, etc.,
    C) I n t h e e v e n t o f f i r s t p a r t y f a i l i n g t o   a r r a n g e t h e l o a n i n
    a g r e e d t i m e of 60 days in signing this MOU, then this MOU will
    n e e d t o b e r e - executed or to be terminated.
    D) T h e s e c o n d p a r t y w i l l n o t i n t e r f e r e i n w h a t s o e v e r
    m a n n e r i n t h e nature of execution of the assignment of the first
    party during thecontract period of 60 days. However, the second party
    is at libertyto give suggestions / ideas.
    E) T h i s   M O U i s e n t e r e d i n t o i n   d u p l i c a t e & t h e o r i g i n a l s h a l l
    b e w i t h t h e first party and the duplicate with second copy.

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