Commercial Term Agreement For Aviation

COMMERCIAL TERM AGREEMENT (CTA)
PHASE I
This COMMERCIAL TERM Agreement (hereinafter referred to as “CTA”), made and entered on the …/…/2023.
BY AND BETWEEN
M/s TRANSCEND AVIATION ACADEMY, CHENNAI, 106, Kamaraj Street, Dr Ambedhkar Salai
Kodambakkam, India, represented by its Director and Student Placements Here in after called the MAN POWER
CONSULTANT (Which term ‘Consultant’ shall be taken to mean and include its Directors,officers charge, agents
and assigns).
AND
OCEAN BORNE MARINE SERVICES PVT. LTD F01-A, 55&56, Haware Centurion Complex, sector-19A
Near Seawoods Rly.Stn.. Nerul (E) Navi Mumbai – 400706) here in after referred to as the proposed “Licensee” /
“Brand Licensee”, whichexpressions shall include its successors and permitted assigns).
Whereas: -
A. The Brand Licensor is the sole owner, academician and registered proprietor of the brand
“TRANSCEND AVIATION ACADEMY”.
B. The Brand Licensee and/or its affiliate is a leading OCEAN BORNE MARINE SERVICES PVT. LTD
C. The Brand Licensee has sought appointment as the Franchisor for designing, developing,
conceptualizing and constructing the expansion of education with the prescribed format as suggested by
the MAN POWER CONSULTANT (the Brand Licensor) with all the prescribed training and
development programs; TRANSCEND AVIATION ACADEMY; in accordance with Brand
Licensor’s methods, standards and operational procedures. The Brand Licensor has considered the
proposal made by the Brand Licensee and has vide this CTA sought to appoint the Brand Licensee on
the terms and conditionscontained herein stated in this agreement.
D. The Brand Licensee has located the premises for the purpose of developing the TRANSCEND
AVIATION ACADEMY at OCEAN BORNE MARINE SERVICES PVT. LTD INDIA.
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PHASE II
LICENSOR TRANSCEND AVIATION ACADEMY
LICENSEE OCEAN BORNE MARINE SERVICES PVT.LTD
Licensee wishes to RECRUITER and operate TRANSCEND

AVIATION ACADEMY branded Aviation Academy in the
OBJECT Territory ("TRANSCEND AVIATION ACADEMY").
This CTA defines the terms of the Long Form Agreement.
The Brand Licensor has agreed to appoint the Brand Licensee as the
Brand Licensor’s exclusive Authorized Brand Licensee for
PROPOSED TRANSCEND AVIATION ACADEMY, including any word
TRANSACTION marks, logos, trademarks, etc. in respect thereof and hereby grants all
necessary rights and authority to develop, license, market, promote,
operate and dispose of the proposed project, in accordance with the
terms of this CTA.
The right to establish, develop and construct the TRANSCEND

AVIATION ACADEMY shall be limited to INDIA only and the
Brand Licensor shall not grant any similar licenses in area of OCEAN
TERRITORY BORNE MARINE SERVICES PVT,LTD.
BRAND TRANSCEND AVIATION ACADEMY
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PROJECT ADDRESS OCEAN BORNE MARINE SERVICES PVT. LTD
All Advertising, Marketing and Promotional materials with respect to

the use and mention of the TRANSCEND AVIATION ACADMEY
will have to be Pre-approved mandatorily in writing by Mr. SYED
AMP/ USE OF LOGO AFZAL AHMED.
The Parties wish to conclude a Long Form agreement (LFA),

detailing the terms and conditions of the License within 45 (Forty-
LONG Five) days after signature date of this CTA. The Term of the Long
FORM AGREEMENT Form Agreement shall have an Initial Period of ONE YEAR and a
(LFA) Renewal Period of ONE YEAR, provided all financial and
contractual obligations of Licensee are made in due time during the
Initial Termof the agreement with understanding of terms and
conditions.
TRANSCEND AVIATION ACADEMY may request DAILY

AUDIT END OF THE DAY audit reports from the Licensee as per the
Licensor’s procedure/software/technical ware.
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i. TRANSCEND AVIATION ACADEMY Will Charge the
PAYMENT TERMS / Course as per the fee Schedule attached.
COMMERCIAL
CHARGES ii. If the Candidate gets terminated or does not show up for work
within one month of appointment the amount will be refunded
excluding registration fee (Rs-10000) and processing fee (Rs-
5000)
iii. Post One Month of appointment the fee is not refundable
iv. TRANSCEND AVIATION ACADEMY Will Take Care for

Placement Cell.
B- All payments under this Term Sheet are due net of bank costs, net
of all taxes, and must be made without offset or deduction, by due date.
Neither Party shall be responsible for the payment of, nor shall it be
required to reimburse the other Party for, any taxes or duties of any
kind assessed against the other Party by any governmental authority
in connection with the subject matter of this Term Sheet. Licensee is
responsible for all bank transfer costs and Exchange rate and any
withholding tax.
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Both parties will uphold the terms of the Term Sheet. Each Party will
use its best efforts to take all actions and to do all things necessary,
BEST EFFORTS / proper, or advisable to consummate, make effective, and comply
GOOD FAITH withall of the terms of this Term Sheet. Licensee undertakes not
to fileany claims directly against Staff, Consultants, Employees,
Managers, Director etc. TRANSCEND AVIATION ACADEMY
for reasons resulting fromthis Term Sheet and the Long Term
Agreement.
That it is mutually agreed between both the parties to this CTA

(Commercial Term Agreement), while signing and entering upon this
TERM CLAUSE CTA the Brand Licensor is a Sole Proprietorship firm doing work for
academy at the name of Transcend Aviation Academy, which is
willing to and under the process of converting the firm to a PRIVATE
LIMITED COMPANY.
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The Brand Licensee confirms having read and understood all the terms and
conditions of the CTA and is fully aware of its obligations (after discussion with his/her
legal consultant), and agrees to abide by the same, under his/her complete state of mind.
ACCEPTED AND AGREED TO:
BRAND LICENSOR: BRAND LICENSEE:
DATED – 03/08/2023
PLACE – NAVI MUMBAI (MUMBAI)
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Commercial Term Agreement For Aviation

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COMMERCIAL TERM AGREEMENT (CTA)

LICENSOR TRANSCEND AVIATION ACADEMY

LICENSEE OCEAN BORNE MARINE SERVICES PVT.LTD

Licensee wishes to RECRUITER and operate TRANSCEND

The right to establish, develop and construct the TRANSCEND

BRAND TRANSCEND AVIATION ACADEMY

All Advertising, Marketing and Promotional materials with respect to

The Parties wish to conclude a Long Form agreement (LFA),

TRANSCEND AVIATION ACADEMY may request DAILY

iii. Post One Month of appointment the fee is not refundable

iv. TRANSCEND AVIATION ACADEMY Will Take Care for

That it is mutually agreed between both the parties to this CTA

ACCEPTED AND AGREED TO:

BRAND LICENSOR: BRAND LICENSEE:

PLACE – NAVI MUMBAI (MUMBAI)

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