Aswad Ideb Mou

7/27/2019 Aswad Ideb Mou

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CtSC'&. MADHYA PRADESHMemorandum of Understanding

This MOU is made and entered into on 13s September, 2011.Bv and Between

aI\4/8 Aswad Infrashucture8 Ltd. a company incorporated under tie provisionlof Indian Companies Act, having its registered office at Aswad House,rBrmgalow No.l, Sector-E, Saifia College, Gate No.Z Koh-e-fiza, Bhopal (M.P)l- hdir.,Here in after referred as FIRST PARTY.I"&IMs. IDEB PROJECTS PVT LTD, a fusr Registered in India ard having itsItegistered office at Sigma Soft Tech Park Delta Tower, 9th and 10th Floors,"Whitefield Road, Opp Varthur Lake, Bengalore 560 066ihere in after referred as SECOND PARTY.pis MOU is made for the purpose of undertaking infrasbucture and Civiltngineering Projects iointly in India as well as in overseas where First partylvill employ their strength and skills to strit requirement of pa*icular projectlvru emPtoy urerl stren8m ano sKuls !o strrt Iequuemenl or Pa[Icqrar Prorecrlnd i}le Second party wiil allow the Filsi party to use its qualification to

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Now it is hereby agreed

ARTICLE 1The above preamble forms an integral part of this MOU.

ARTICLE 22.1 The parties agree that this MOU is hereby formed for the sole purprxeto prepare and bid for the project/proiects and if successful enter intoa contract with the owner and execute tlle work in compliance with theconditions of the conhact.2.2 Each party shall have the right to withdraw from this MOU with theprior wdtten notice of one month.ARTICLE 3Before subrnission of bid the parties agree to enter into a 'Joint Venturdagreement setding out the rights and obligations of the parties in conformitywith the bid requirement and the workiag modalities of the Joint Venture.ARTICLE 4Name of the Joint VentureFor all intents artd purposes the Joint Venture entity established hereby shallbe called as Aswad - IDEB and form an registered ry or SPV with anothercompany for largel Projects.ARTICLE 5It is mutually agreed between the parties to ad4 delete, vary and/or modilythe terms herein contained and as may be necessary to meet the requirementsof the owner in all respects.r{ 451V 0IXFMSTRUCIURS t fEO It"'T "N,i) tRl\ \-t: L"'tIrED

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ARTICLE 6This MOU shall come into effect upon signature by the parties and shallcontinue in force until execution oI project/plojects or tern-inated by mutual

ARTICLE 7The basic terms of the new agreement referred to in Article 3 shali be as

7.1 The First pariy shall be the leader of the Joint Venture and is nominated asPartner In-charge and will be overali responsible for submission fol BankGuarantees & execution of the proiect on behal{ oI JV for the co-ordination, contractual matters and related cotesPondence towards theowner arld Engineer for all activities of the JV.7.2 The second party will have no responsibility, {inancial or execution in thelv.7.3 The fees to be paid by the first party to 2'd party for allowing first palty touse second party's qualification for the JV is 3% of the contuact value.Payment to be as below7.4 A) On Mobilization Advance (%) will be mutually decided according to

the size oI the projectB) On Bill to Bill (%) wiu be mutually decided according to lhe size oI theproject.

7.5 A separate Bank Account in the name oI JV will be openecl and oPeratedjointly for the execution of the each project seperately. AII the Paymentsreceived by JV from owner shall be through this account only.ARTICLE 8FiISt party shall bear all expenses in the preparation and submission of theTenders for the project and in the event of the project not being awarded tothe JV neither party shall have any claim against the other Party.

fO'^SWAO

Ii'IFRASTRUCTURES TIMITED

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ARTICLE 9Mr.Muhammad Hareem Iqbal Is hereby authorized to sign all documentsrelated to the bid documents.ARTICLE 10This specific Joint Venture agreement made and entered into for particularproiect shall be terminated on the earliest occurence of any of the following.10.1 On the date when it is known that the owner re.iects the tender.10.2 On the date when parties enter into new ry agreement as stated inArticle 3 above.10.3 Within 90 days from date thereof.

ARTICLE 11This JV will be made in English language duly signed by the respectiveauthorized representatives of the parties and ruled by Indian law.

IN WITNESS Wf,IEREOF the parties have executed this MOU on the dateand year first above written.

Witness,W.

hd InJrastructures Ltd.

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Aswad Ideb Mou