Agreement To Adopt The Preliminary Agreement Legal Draft Template

AGREEMENT

made at .......... this ........ day of ......... between M/s. PQ & Co.

Ltd., a Company registered under the companies Act, 1956 and having its

registered office at .......... hereinafter referred to as ''The Company'' of

the One Part and Mr. L residing at .......... and Mr. M residing at ..........

and Mr. N residing at ........ all collectively hereinafter referred to as

''the Promoters'' of the Other Part.WHEREAS:By

an agreement dated the ...... day of ........ entered into between the

Promoters on the one hand and Mr. X of the Other part it was agreed that the

Promoters will form and register a private company limited the shares with the

object of taking over the business in electronic goods carried on by Mr. X on

the terms and conditions therein mentioned.Accordingly,

the company being the party of the First Part hereto has been formed and

registered under the Companies Act 1956 on the day ofIt

was one of the terms of the said agreement that on the registration of the

company, the company will adopt the said agreement.By

a resolution of the Board of Director of the Company dated the .......... the

Board has resolved to adopt the said agreement and to enter into this agreement

for that purpose.NOW

IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:The

company hereby adopts the said agreement dated ........... hereinbefore recited

and agrees to be bound by the same and the terms and conditions therein

mentioned relating to the purchase and taking over of the business of the said

M/s. X''s concern, as if the company was a party thereto and had agreed to purchase

or take over the said business from Mr. X on the terms in the said agreement

mentioned in place stead of the Promoters.And

the company agrees and undertakes to comply with and implement all the terms

and conditions mentioned in the said agreement.IN

WITNESS WHEREOF the parties have put their hands the day and year first

hereinabove written.Signed

for and on behalf of the )said

M/s. PQ & Co. Ltd., by )Mr.

........ a Director duly )authorized

to do so by the resolution )of

the Board of Director dated ).........

in the presence of ... ... )(Signed

by the with in named )Promoters

L, M, N in the )presence

of ....... )