Agreement To Adopt The Preliminary Agreement Legal Draft Template

AGREEMENT made at...

this... day of... between M/s. A B & 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. A residing at... and Mr. B

residing at.... and Mr. C residing at... all collectively hereinafter referred

to as 'the Promoters' of the Other Part.WHEREAS -1.

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.2.

Accordingly,

the Company being the Party of the First Part hereto has been formed and

registered under the Companies Act 1956 on the - day of3.

It

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

Company, the Company will adopt the said agreement.4.

By

a resolution of the Board of Directors 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:1.

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 faking over of the business of the said M/s X's

concern, as if the company was a party t hereto 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.2.

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. A B &

Co. Ltd., by Mr. Signed for and on behalf of the)... a Director duly

authorised to do so by the)resolution of the

Board of)Directors dated...

in the)presence

of.........)Signed by the within

named)Promoters A B &

C. in the)presence of...)