Memorandum of Understanding between

CIIE Initiatives

and

NAME OF THE COMPANY

for Seating Space at Startup Oasis

Scope and Objectives

This Memorandum of Understanding(“MOU”) for providing seating space at Startup Oasis, located at RIICO Software Complex, EPIP, Sitapura Industrial Area, Jaipur – 302022, Rajasthan (India) has been made between CIIE Initiatives (“CIIEI”) represented by Startup Oasis and <name of the company>.

This Agreement shall be valid for a period of One Year with effect from ______

CIIE Initiatives is a Section 25 company having its registered office at CIIE Building, IIM (new Campus), Vastrapur, Ahmedabad – 380015, Gujarat. CIIE Initiatives which is India’s leading incubator operating under the aegis of IIM Ahmedabad and supported by the Government of India with the objectives of promoting entrepreneurship in the country has set up Startup Oasis as a joint initiative with the Rajasthan State Industrial Development and Investment Corporation Limited (RIICO) to promote entrepreneurship in the state of Rajasthan

<Information about the other company>

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“Facility” means RIICO Software Complex, EPIP, Sitapura Industrial Area Jaipur-302022 Rajasthan, India.

Roles and Responsibilities

The roles and responsibilities of the two Parties as part of this MoU are as detailed out below:

Responsibilities of CIIE

1.  CIIEI shall make the necessary physical area available for NAME OF THE COMPANY> staff in Room ______of the Facility with seating space for ______people.

2.  This Seating Space shall be exclusively reserved for <NAME OF THE COMPANY> for its use. No other person shall be allowed to conduct its business operations from this space for the duration of this Agreement.

3.  CIIEI shall ensure availability of necessary equipment and furniture for <NAME OF THE COMPANY> staff as per the specifications and requirements developed jointly with <NAME OF THE COMPANY>. A tentative list of such equipment and furniture is given in Annexure 1.

4.  CIIEI shall also ensure access to the co-workers to the Wi-Fi access, canteen services, business centre, recreation and sports areas in the Facility.

5.  In case this Agreement is revoked, Startup Oasis shall return the payment dues for the remaining period of this Agreement.

Responsibilities of <NAME OF THE COMPANY>

1.  <name of the company> shall also ensure that the Space provided is maintained well and not misused in any way by the <NAME OF THE COMPANY> staff and any such incidence if misuse shall be immediately brought to the notice of CIIEI and could lead to immediate suspension of the staff member from the Facility.

2.  <NAME OF THE COMPANY> agrees to keep and maintain the schedule premises clean and in good condition.

3.  <NAME OF THE COMPANY> agrees to make the payments as per the terms mentioned under the head “Terms of Payment” below.

4.  In case this Agreement is revoked, <NAME OF THE COMPANY> shall return the keys and equipments (if any) to Startup Oasis and shall vacate the Facility.

Terms of Payment

  1. Amount must be paid at minimum in monthly instalments, with the first instalment being made prior to the commencement of this Agreement, and each subsequent instalment being made before 3st of every month.
  2. <NAME OF THE COMPANY> is supposed to pay the first month rental one day before it’s arrival to the office equal to the amount of plan chosen.
  3. The Amount shall be a Rs. 500/- per seat per month. Therefore Rs. 1500/- for 3 seats shall be paid by <NAME OF THE COMPANY> to Startup Oasis per month.
  4. <NAME OF THE COMPANY> may terminate this Agreement by giving Startup Oasis a minimum of 1 month notice period. On default of giving us such a notice, <NAME OF THE COMPANY> will have <NAME OF THE COMPANY> pay 1 month’s instalment.
  5. Coworking ID Cards will be issued to <NAME OF THE COMPANY> at the time of joining the facility. In case of loss of card the same will be re-issues at a charge of INR 50.

Indemnification and Limited Liability

  1. <NAME OF THE COMPANY> shall indemnify Startup Oasis for any loss suffered as a result of its actions and we shall be entitles to claim legal action and claim remedies.

Arbitration Clause

  1. Any dispute arising hereunder shall be settled by an arbitration conducted as per the Indian Arbitration and Conciliation Act, 1996 at Jaipur, India. The arbitration would be presided by a sole arbitrator mutually appointed by <NAME OF THE COMPANY> and Us.

Final Provisions

  1. <NAME OF THE COMPANY> understands that Startup Oasis reserves the right to update these Terms and Conditions of the Agreement at any time. <NAME OF THE COMPANY> understand that Startup Oasis will attempt to contact Members to notify them of any changes within 30 days of their enactment, but <NAME OF THE COMPANY> also understands that Members are ultimately responsible to periodically check the Terms and Conditions of the Agreement for any changes.
  2. In the event that any provision or portion of these Terms and Conditions of the Agreement are determined to be invalid, illegal, or unenforceable for any reason, in whole or in part, the remaining provisions shall be unaffected and shall remain in full force and effect to the fullest extent permitted by the law.
  3. <NAME OF THE COMPANY> understands that Startup Oasis has a right to terminate the Agreement, if <NAME OF THE COMPANY> is found to have contravened any of the terms listed herein or to have acted in a manner which in Startup Oasis’s sole discretion hampers the use and enjoyment of the Startup Oasis office space and the building where it is located for others, including but not limited to other members of Startup Oasis ; the team of Startup Oasis and guests, occupants and contractors of the building where Startup Oasis office is located.
  4. <NAME OF THE COMPANY> understands that it will be given 1 month for emptying the premises of Startup Oasis and forfeiting other privileges provided by Startup Oasis when the Agreement is revoked.
  5. <NAME OF THE COMPANY> understands that any information disclosed to Startup Oasis inclusive of any ideas, strategies, data, and designs by Startup Oasis is strictly confidential in nature. <NAME OF THE COMPANY> is under an obligation to not disclose such information to any third party.
  6. <NAME OF THE COMPANY> understands that the Agreement is non-transferrable in nature. <NAME OF THE COMPANY> cannot transfer or let any third party use the Facility provided.
  1. <NAME OF THE COMPANY> agrees that a failure to enforce any provision of the Agreement shall not be deemed a waiver by Startup Oasis of such provision nor of the right to enforce such provision.
  2. The rights and obligations not specified herein will be as provided under the Indian Law.

For CIIE Initiative For <NAME OF THE COMPANY>

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Mr Chintan Bakshi <Name of Authorized Signatory>

(Authorized Signatory) (Authorized Signatory)

Date: ______

Annexure 1

1.  Work Stations to seat ____ people

2.  Power cabling

3.  Internet Wi-Fi Connectivity with throughput of 2 mbps with unlimited download

4.  Air conditioning during the months of March to October.

5.  Electrical fitting and fixtures, as per the area and requirement

6.  Drinking water facility

7.  Some art work to give the Space a lively and creative feel

For CIIE Initiative For <NAME OF THE COMPANY>

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