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VNIT Nagpur Final MoU

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0% found this document useful (0 votes)
54 views2 pages

VNIT Nagpur Final MoU

Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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AGREEMENT

This Agreement ("Agreement") is made and entered into as of 22nd day of October 2024 ("Effective Date"), by and between:
Collective Artists Network India Private Limited, a company incorporated under the Companies Act, 1956 and validly existing
under the Companies Act, 2013, and having its office at 5th Floor, Lotus Business Park, Veera Desai Industrial Estate, Andheri West,
Mumbai, 400102; CIN: U93000MH2013PTC241769, (hereinafter, “Company”) which expression shall, unless inconsistent with
the context or meaning thereof, be deemed to mean and include its successors and assigns of the FIRST PART and VNIT Nagpur,
having its address at AMBAZARI NAGPUR (IT PARK)- 440010 (hereinafter “Institution”) which expression shall, unless
inconsistent with the context or meaning thereof, be deemed to mean and include its successors and permitted assigns of the
SECOND PART. The Company and the Institution shall collectively be referred to as the "Parties" and solely as the “Party”,
wherever the context may so require.

1. PRINCIPAL UNDERSTANDING:

a. The Company is inter alia engaged in the business of organizing summits etc. under the name ‘Under 25’ (“Under 25”).

b. Under 25 is currently in the process of conducting various live one-on-one sessions under the name “Under 25 Summit at
Campus” (“Event”) on 17th November 2024 or such other date as mutually agreed between the Parties as per the terms
hereof (“Event Date”).

c. In view thereof, the Institution has agreed to provide its location i.e. Indoor Auditorium, on the Event Date for the Event
(“Location”).

d. The Location shall consist of a minimum seating capacity of 3000 (three thousand) people.

e. Any and all permissions required for the Event to be conducted on the Event Date in the Location shall be procured solely
by the Institution. The Institution agrees and acknowledges that the Institution and the Location shall at all times be in
compliance with the applicable laws.

f. All facilities at the Location shall be functional and operative in the manner required to conduct the Event in the manner
determined by the Company.

g. Grant of License: The Institution grants the Company the license to use the Location on the Event Date for the purpose
described herein. The Company may use the Location for conducting the summit, including any setup and dismantling time.
Hence, the Company shall be permitted to and be given access to the Location at least 1 (one) day prior to the Event Date.
However, the costs for logistics of the artists will be entirely borne by the Company.

h. The Institution hereby agrees, acknowledges and confirms that the Company shall have the right to record the Event and
any part thereof (“Recordings”) and all rights including the intellectual property rights in and to the Recordings shall vest
exclusively, perpetually and irrevocably vest with the Company in perpetuity. The Company shall have the right to exploit
the Recordings including the Location and its attributes in the manner deemed fit by the Company.
i. Mutual covenants and promises between the Parties shall form adequate consideration between the Parties and the Institution
shall not be entitled to any further consideration in any manner whatsoever.

j. The Institution agrees to indemnify, defend, and hold harmless the Company and its officers, employees, and agents,
representatives etc. from and against any and all claims, damages, liabilities, costs, and expenses (including reasonable
attorney's fees) arising from the Institution’s use of the Location and breach and/or non-performance of any of its obligations
mentioned hereunder. Notwithstanding anything contained hereunder, the Company shall not be liable for any losses or
damages occurred to the Institution in any manner whatsoever. However, the On-ground Crew members will be responsible
to ensure that there are no damages to resources provided for the summit. If there is any mismanagement/ breach in
agreement on institute’s side then company is not liable to pay for the damages incurred.

k. The Institution shall not terminate this Agreement unless otherwise agreed by the Company in writing. The Company shall
have the right to terminate this Agreement by providing a written notice of 3 (three) days to the Institution. However, both
parties can reach a mutual conclusion to indefinitely postpone the Event if the occasion rises.

l. This Agreement shall be governed by and construed in accordance with the laws of India and the courts in Mumbai shall
have the exclusive jurisdiction.

m. The Institution agrees to keep the terms of this Agreement confidential and not disclose any information without the
Company’s prior written consent.

For the “Company”


For the “Institution”

Name: Harsh Deshmukh Name: Avinash Bidaia

Designation: President Aarohi'24 Designation: Director

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