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Legal Drafting

Legal Drafting

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Published by Ashok
A complete book on Corporate and Commercial Agreements - Drafting, Guidelines, forms and Precedents in India. The text is aimed at assisting lawyers, legal counsel and managers in drafting and structuring Commercial agreements. The forms and precedents used in this text are examples of drafting and should be used as a guide.
A complete book on Corporate and Commercial Agreements - Drafting, Guidelines, forms and Precedents in India. The text is aimed at assisting lawyers, legal counsel and managers in drafting and structuring Commercial agreements. The forms and precedents used in this text are examples of drafting and should be used as a guide.

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Published by: Ashok on Jan 04, 2009
Copyright:Attribution Non-commercial

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04/25/2015

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To: Alpha

....................

....................(address)

From: ....................Bank

Dear Sirs

(i) We....................Bank acknowledge that in relation to the above subject you
have entered into a consulting services agreements dated .................... with Beta
Technologies Limited (‘Beta’) (hereinafter called ‘the Agreement’).

698

Corporate and Commercial Agreements

Any capitalised terms used and not defined herein shall have the meanings
attributed thereto in the Agreement.

We hereby unconditionally and irrevocably guarantee to pay to you any
amount or amounts demanded by you from time to time upto the maximum
aggregate value of this Performance Guarantee Bond immediately on receipt of
your first demand in writing without objection or contestation whatever from our
part or from Beta and without the necessity on your part to pursue or exhaust any
remedy against Beta and notwithstanding that the Agreement may be
unenforceable in whole or in Part.

The value of this Performance Guarantee Bond shall be [insert sum].

Our obligations hereunder shall remain in full force and effect and shall not be
affected or discharged by any act, omission, matter or thing which but for this
provision might operate to release or otherwise exonerate us from our obligations
hereunder in whole or in part, including without limitation and whether or not known
to us or to you:

(a)any time, waiver or indulgence granted to Beta or to any other person;

(b)the taking, variation, compromise, renewal or release of or refusal or
neglect to perfect or enforce any rights, remedies or securities against
Beta or any other person;
(c)any legal limitation, disability or incapacity relating to Beta or any other

person;

(d)any variation of or amendment to the Agreement or in the nature or
extent of or method of carrying out of the services or the obligations to
be performed thereunder or any other document or security so that
references to the Agreement in this Performance Guarantee Bond shall
include each such variation or amendment; and

(e)any unenforceability, invalidity or frustration of any obligations of Beta or
any other person under the Agreement or any other document or security.

This performance guarantee shall come into force on …………. .

Our obligations under this Performance Guarantee Bond shall cease upon
expiration or termination of the Agreement, except in relation to demands made by
you prior to that date, which Beta has not satisfied.

This performance Guarantee Bond and all matters relating thereto shall be
governed by Indian law and the courts of ………………… shall have jurisdiction.

IN WITNESS whereof we have duly executed this Performance Guarantee

Bond

on this .................... day of

Executed by

(....................)

in the presence of:

DEED OF INDEMNITY

Bonds

699

This Deed of Indemnity (the “Deed”) is executed this .................... day of
.................... 20..... by Mr. .................... (name) son of Late ....................
resident of .................... and Mrs. .................... (name) wife of Mr. ....................
(name) resident of .................... (hereinafter jointly and severally referred to as the
“Legal Heirs”) in favour of Alpha FINANCES INTERNATIONAL (herein after the
“Alpha”)

Whereas:

1.The elder brother of the Legal Heirs, Mr. .................... (name) son of
Late .................... (“Mr. .................... (name)”) has deposited with the
Alpha certain amount of money accounts known as ....................
deposit A/c # .................... (Account No.) (Along with any other deposit
of Mr. .................... (name) with the Alpha, herein after referred to as the
“Deposits”)

2.The Legal Heirs are the only brother and sister respectively of
Mr. .................... (name) and are the only persons entitled to inherit
Mr. .................... (name)’s assets as per the provisions of the Indian law.

3.Mr. .................... (name) under in his registered Will dated....................
20..... (Annexure-2) has named Mr. .................... Advocate, Mrs.
.................... (name) (one of the Legal Heirs) and Mrs. ....................
daughter of Mr. .................... (name) as the executors of the Will.
(Hereinafter jointly the “Executors”)

4.Mr. .................... (name) is in a critical condition and he is not in a
position to take any decision in connection with his affairs as he has lost
his mental faculties and is terminally ill since [ ]. A doctor’s certificate
to this effect is enclosed as Annexure-1 to this Deed.

5.Large sum of money is required to be drawn from the Deposits to meet
the necessities of Mr. .................... (name) business and medical
expenses.

6.As Mr. .................... (name) is not in a position to take any decision with
respect to the Deposits, the Legal Heirs have requested the Alpha to act
on the instruction of the Executors and allow the withdrawal of money
from the Deposits on the instructions and advice of the Executors. For
this the Legal Heirs have agreed to indemnify the Alpha for any loss or
expenses that it may incur on this account.

NOW, THIS DEED WITNESSETH AS UNDER

In consideration of Alpha’s acting on the instruction and advice of the
Executors in connection with the Deposit including any withdrawals therefrom, the
Legal Heirs jointly and severally covenant and undertake at all times to indemnify
Alpha and keep Alpha indemnified from and against all action, proceedings, claim,
demands, costs and expenses that Alpha may have to incur or bear, occasions
on its acting on the instructions and advice given by the Executors from time to
time.

IN WITNESS WHEREOF, THE LEGAL HEIRS EXECUTES THIS DEED ON
THE DATE MENTIONED ABOVE HERE IN......................... (Name of the place)

....................

....................

700

Corporate and Commercial Agreements

....................(name)

....................(name) (Mrs.)

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