[Execute on stamp paper of appropriate value; if executed electronically purchase stamp paper 

for this instrument] 

 
Notes:  
The template assumes 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Memorandum Of Understanding 
 
This  Memorandum  of  Understanding  (“MoU”)  is  entered  into  and  signed  on  _____ 
day of ___________, ___ [Year] at _____ [location] by and between: 
 
 
[Name  of  Party  1],  a private limited company incorporated under the Companies Act, 
2013,  with  CIN  _________,  and  having  its  registered  address  at  ________  [Address] 

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 (hereinafter  referred  to  as  “_______”  or  the  “Party  1”  which  expression  shall, unless 
it  be  repugnant  to  the  context  or  meaning  thereof,  mean  and  include 
successors-in-interest and permitted assigns of Party 1);  

And 

[Name  of  Party  2],  a  private  limited  company  within  the  meaning  of  the  Companies 
Act,  2013,  with  CIN  _________,  having  its  registered  office  at  __________  and  its 
corporate  office  at  _____________  (hereinafter  referred  to  as  “Party  2”  which 
expression  shall,  unless  repugnant  to  the  subject  or  context  thereof,  include  its 
successors-in-interest and assigns of Party 2); 

(Party  1  and  Party  2  are  hereinafter  collectively  referred  to  as  the  ‘Parties’  and 
individually as ‘Party’) 

WHEREAS 

1. Party 1 is engaged in the activity of [mention activity of Party 1]; 

2. Party 2 is engaged in the activity of [mention activity of Party 2]; 

3. Party 1 and Party 2 had discussions regarding [mention areas of discussion]; 

4. Both  Parties  have  now  decided  to  enter  into  a  detailed  understanding  for 
[mention purpose of contract] on the terms and conditions mentioned below.  
 
NOW,  THEREFORE,  in  consideration  of  their  mutual  undertakings as mentioned 
below, the parties do hereby agree as follows: 
 
1. SCOPE OF MOU AND RESPONSIBILITIES OF PARTIES 
 
1.1. Subject to the terms of this MoU, Party 1 shall perform the following: 
1.1.1. [Mention all the responsibilities of Party 1] 
1.1.2. [Mention all the responsibilities of Party 1] 
1.1.3. [Mention all the responsibilities of Party 1] 
1.2. Subject to the terms of this MoU, Party 2 shall perform the following: 

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 1.2.1. [Mention all the responsibilities of Party 2] 
1.2.2. [Mention all the responsibilities of Party 2] 
1.2.3. [Mention all the responsibilities of Party 2] 
1.3. [Mention  any  other  term  if  necessary  to  clarify  the  responsibility/  rights  of 
either party]  
 

2. UNDERTAKINGS OF PARTY 1 
 
2.1. Party 1 agrees: 
 
a) to  comply  with  all  requirements  of  Law  in  connection  with  the 
use of the Content; 
b) not  to  sublicense,  assign,  transfer,  pledge,  offer  as  security,  or 
otherwise  encumber  the  Content  or  any  of  the  rights  granted 
hereunder  in  any  way  other  than  as  expressly  provided  in  this 
MoU; 
c) not  to  use  any  Standard  Documents  or  the  Content  in  any 
manner  or  for  any  purpose  whatsoever  in  violation of the terms 
of this MoU; 
d) and  acknowledges  that  they  shall  not  at  any  time  during  the 
Term  or  thereafter  (i)  claim,  challenge  any  right,  title  or  any 
other  interests  in  the  Standard  Documents  or  Content,  (ii) 
contest  the  validity  of  the  copyrights  or  other  proprietary 
interests  in  and  to  the  Standard  Documents,  Content  or  any 
other Intellectual Property held by either Party; 
e) that  __________  [Parties of the First Part] shall not work with any 
other bank as a knowledge partner for this Course. 
2.2. Party 2 agrees that: 
 
 
3. INDEMNITY [if applicable] 

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__________    [Parties  of  the  First  Part]  agrees  that  it  shall  indemnify  and  hold 
harmless  _____  [[Parties  of  the  Second  Part],  to  the  fullest  extent  permitted  by 
applicable  law,  for  all  losses  and  liabilities  (including due to claims by a third 
party),  incurred  by  _____  [Parties  of  the  Second  Part]  for  breach  of  its 
representations or warranties.  
 
4. REPRESENTATIONS AND WARRANTIES 
 
4.1. _____  [Parties  of  the  Second  Part]  agrees  and  represents  that  _____ 
[Parties  of  the  Second  Part]  has  the  authority  to  execute,  deliver  and 
perform  its  obligations  under  this  MoU,  having  obtained  all  required 
consents,  and  is  duly  organized or formed and validly existing in good 
standing under the laws of the state of its incorporation or formation. 
4.2. __________ [Parties of the First Part] represents and warrants that it: 
 
a) has  the  authority  to  execute,  deliver  and  perform its obligations 
under  this  MoU,  having  obtained  all required consents from the 
Directors; 
b) is  duly  organized  or  formed  and  validly  existing  in  good 
standing under the laws of its incorporation or formation; and 
c) owns all right, title and interest in and to the Content. 
 
4.3. __________    [Parties  of  the  First  Part]  represents  that  it  has  the 
intellectual  property  rights  in  the  Content  and  shall  hold  ____  [Parties 
of  the  Second  Part]  harmless  from  any  direct  or  indirect  claims, 
damages,  penalties,  losses,  attorney’s  fee  or  any  other  amount  arising 
from  any  defects  in  such  rights  or  claims  raised  by  any  third  party  in 
this respect. 
 
 

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 5. TERM AND TERMINATION 
 
5.1. This  MoU  will  be  effective  as  of  the date hereof and will continue for a 
period  of  __  [in  numeric]  (__[in  words])  years  (Term),  and  shall  be 
automatically  renewed  for  a  subsequent  Terms,  unless  earlier 
terminated in accordance with this MoU.  
5.2. The  Parties  shall  be  free  to  add  other  projects  or  courses  within  the 
terms of this MoU.   
5.3. Termination  for  breach:  This  MoU  may  be  terminated  forthwith  by 
either  party  if  the  other  commits  any  material  breach  of  any  term  of 
this  MoU  and  which  (in  the  case  of  a  breach  capable  of  being 
remedied)  shall  not  have  been  remedied  within  60  (sixty)  days  of  a 
written request to remedy the same. 
5.4. Termination  for  convenience:  This  MoU  may  be  terminated  by  _____ 
[Parties  of  the  Second  Part]  or  ___    [Parties  of  the  First  Part]  for 
convenience with four (4) months prior written notice.  
5.5. If  this  MoU  is  terminated  due  to  a material breach of provisions of this 
MoU  or  for  convenience,  _____  [Parties  of  the  Second  Part]  shall  be 
absolved  of  its  responsibilities  and  will  not  be  acknowledged  as  a 
knowledge  provider,  except  for  students  who  enrolled  in  previous 
batches or whose courses are incomplete until the date of termination.  
5.6. Upon  termination,  neither  party  shall  have  any  further  obligations 
under  this  MoU,  other  than  (a)  the  liabilities  accrued  up  to  the  date  of 
termination  (b)  responsibility  to  continue  co-branding  on  the 
certificates  for  students  admitted  prior  to  termination  and  (c)  the 
obligations  which,  by  their  terms,  survive  termination  including, 
without  limitation,  the  applicable  confidentiality  provisions  of  this 
MoU. 
5.7. Upon  termination,  the  exclusivity  under  this  Agreement  in  favour  of 
_____  [Parties  of  the  Second  Part]  shall  lapse  and  ___   [Parties  of  the  First 
Part] shall be free to approach other banks for similar relationships. 

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6. CONFIDENTIALITY  
 
6.1. Before,  or  at  the  time of, or following the execution and delivery of this 
MoU,  both  ___   [Parties  of  the  First Part]  and _____ [Parties of the Second 
Part]  shall  not  disclose  any  Confidential  Information  pertaining  to  the 
parties  or  their  businesses,  any  confidential  _____  [Parties  of  the  Second 
Part] documents. 
6.2. Notwithstanding  anything  contained  in  this  MoU,  this  clause  6  shall 
survive the termination of this MoU.  
 
7. STATUS OF THE PARTIES 
 
7.1. The  relationship  of  the  Parties  to  each  other is that of independent and 
autonomous  organisations.  Nothing  in  this  MoU  shall  be  construed  to 
create any partnership, franchise, agency between the Parties.  
7.2. The  Parties  cannot  without the prior written consent of the other Party, 
sub-contract,  assign  or  otherwise  delegate  any  or  all  of  its  rights  and 
obligations under this MoU to another entity. 
 
8. GOVERNING LAW AND DISPUTE RESOLUTION 
 
8.1. This  MoU  is  governed  by  and  shall  be  construed  in  accordance  with 
Indian  laws.  The  Courts  at  Mumbai  shall have exclusive jurisdiction in 
respect of this MoU. 
8.2. In  case  of  any  dispute which arises out of or in respect of this MoU, the 
Parties  shall  make  reasonable  effort  to  resolve  the  issues  in  a 
practicable  manner,  as  far  as  possible  by  mutual  negotiation.  Where 
negotiation  has  broken  down,  all  disputes  or  differences  between  the 
Parties  arising  in  connection  with the interpretation or implementation 
of  this  MoU  or  any  clause  hereof,  which  cannot  be  resolved  by 

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 negotiation,  the  parties  agree  that  the  courts  of  Mumbai  shall  have 
exclusive jurisdiction to settle any disputes.  
 
9. NOTICES  
 
Any  notice,  communication or statement required to be given under this MoU 
shall  be  in  writing  and  shall  be  sent  by  hand  delivery,  registered  post  with 
postage  full  prepaid  and  with  acknowledgment  due,  receipted  courier  or  by 
electronic  mail  to the applicable Party at the contact details indicated below or 
to  such  other  address  as  a  Party  shall  designate  by  similarly  giving  notice  to 
the other Party. 
 
Notice to be given to _____ [Parties of the Second Part]:  
Address:   
 
Notice to be given to __________ [Parties of the First Part]: 
Attn:   
Address:   
Phone:  
Email:   
 
10. ENTIRE AGREEMENT AND ALTERATION 
 
No  modification,  amendment,  supplement  or  waiver  or  of  any  provision  of 
this  MoU  shall  be  effective  unless  made  by  a  written  instrument  duly 
executed  by  both  the  Parties  which  specifically  refers  to  this  MoU.  Both  the 
Parties agree to consider email as a written instrument for the purposes of this 
Clause. 
 
SIGNED AND DELIVERED ON BEHALF OF __________ [Parties of the First Part] 
PRIVATE LIMITED 

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Name:  Mr.  
Designation: Director 
 
 
SIGNED AND DELIVERED ON BEHALF ______ [Parties of the Second Part] 
 
 
Name: Mr.   
Designation:    

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