IPC Acquiring & Buy Back Agreement

This Agreement between the Seller and the Acquirer identified herein below, entered into on this ____________ day of _______ 20____ governs the purchase of Intellectual Property Cells as introduced and offered on http://ipc.drivingdreams.in/ as also its buy back guarantee to the Acquirer by its Seller: Driving Dreams International

Identification of Parties hereto:

The Seller: Driving Dreams International is a business registered under number UAN MH33D0060697 (the “Principal”), represented herein by its proprietor Mr. Sumeet Sharma (PAN: AEQPS2013B) having its registered address at:  A-1/101, RAUNAK PARK, POKHARAN ROAD NO.2 THANE (WEST), THANE - Maharashtra 400610 INDIA , Email: sumeet@drivingdreams.in ; Website: drivingdreams.in Contact no. 09820998399 

The Acquirer: Company or Individual (Strike off what is not applicable)

Name:

Identification Document:

Address:

Email:

Contact Details:

Each Acquirer of Intellectual Property Cells gets the right to benefit from the value appreciation of the Intellectual Property Cells pursuant to its buy back by the seller after completion of stipulated time periods mentioned herein below. 

This is explained below via an example:

The Following examples outline two case studies one for an investment of Rs. 60,000.00 (USD799)

Following will be the value appreciation of an investment of Rs. 60,000.00  if invested through acquiring IPC's 

The Acquirer will buy the IPC's for a frozen period of 30 years during which the Seller will be exclusively entrusted with the nurturing and growth appreciation of the IPC's

The Acquirer will have the following time options at which point in time he/she can sell back the entire IPC's acquired by him/her for respective value appreciations at that point of time...

✔ Any time before 5 years = ZERO Value appreciation.., the Acquirer will get back only Rs. 60,000.00 (Rs. 60 thousand) that he/she invested.

✔On Completion of 5 yrs and anytime up to 10 Years the Investor (Acquirer) can sell to us and get paid total Rs. 105,000.00  

Note: (In case the acquirer does not sell on completion of 5 years then he/she will have to wait for completion of 10 years to be eligible for benefiting with higher value appreciation, otherwise he/she will only get value appreciation as applicable on completion of 5 years. So even if the acquirer wants to sell back on completion of 9 years he/she will get back only Rs. 105,000.00)…,

…and likewise for all the following time periods mentioned below. 

✔If the Acquirer waits for completion of 10 yrs and anytime up to 15 Yrs, the Investor can sell to us and get paid total Rs. 168,000.00

✔If the Acquirer waits for completion of 15 yrs and anytime up to 20 Yrs, the Investor can sell to us and get paid total Rs. 2,49,000.00

✔If the Acquirer waits for completion of 20 yrs and anytime up to 30 Yrs, the Investor can sell to us and get paid total Rs.3,60,000.00

✔On Completion of 30 yrs, the Investor can sell to us and get paid total Rs.6,00,000.00 (Rs. 6 laks)

The acquirer will have to buy the IPC’s in one single instalment to be eligible for the above explained value appreciation.

Important Value Attraction

Preference shares first offer Rights*: When the business scales and goes public, all existing IPC owners will get preference shares equal to the value of their IPCs before going public. (*detailed terms and conditions apply)

NOW based on the above terms and conditions which are well understood and agreed upon, the Acquirer named above agrees to buy IPC’s worth:

 __________________________________________________________

Payment made in one single instalment.

Duty of Buy Back Intimation and compliance is of the seller, the Seller on completion of above mentioned stipulated time period guarantees to offer to Buy back the entire IPC's at respective value appreciation as explained above. 

CONTINUING RIGHTS OF SELLER:

The Acquirer is solely acquiring the IPCs to benefit from their value appreciation pursuant to its buy back guarantee by the Seller, The acquirer cannot use in any manner whatsoever these Intellectual Properties listed and updated on http://drivingdreams.in/ . 

SUCCESSORS AND ASSIGNS.

All references in this Agreement to the Parties shall be deemed to include, as applicable, a reference to their respective successors and assigns. The provisions of this Agreement shall be binding upon and shall inure to the benefit of the successors and assigns of the Parties.

NO IMPLIED WAIVER.

The failure of either Party to insist on strict performance of any covenant or obligation under this Agreement, regardless of the length of time for which such failure continues, shall not be deemed a waiver of such Party’s right to demand strict compliance in the future. No consent or waiver, express or implied, to or of any breach or default in the performance of any obligation under this Agreement shall constitute a consent or waiver to or of any other breach or default in the performance of the same or any other obligation.

NOTICE.

Any notice or other communication provided for herein or given here-under to a Party hereto shall be in writing by email.

GOVERNING LAW.

This Agreement shall be governed by the laws of the State of Maharashtra India. In the event that litigation results from or arises out of this Agreement or the performance thereof, the Parties agree to reimburse the prevailing Party’s reasonable attorneys’ fees, court costs, and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing Party may be entitled.

SEVER-ABILITY.

Whenever possible, each provision of this Agreement, will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provisions had never been contained herein.

CURRENCY.

We offer two currency choices: Indian Rupees & USD, The buyback will be in the same currency in which the acquirer purchased the IPCs

ENTIRE AGREEMENT.

This Agreement, constitutes the final, complete, and exclusive statement of the agreement of the Parties with respect to the subject matter hereof.

In signing this agreement the parties hereto agree to the entire agreement above.

Seller

Sumeet Sharma

Authorized representative

Driving Dreams International

Acquirer