FORM OF TRIPARTITE DEED
THIS INDENTURE MADE this ________________ day of
_______________ ________________ between _________________
of _______________________ carrying on business in
_________________________________ at in the name and style
of ________________________________ (here insert name of
the proprietor) as the sole proprietor thereof.
1.
2.
(insert the name of all the partners)
*
carrying on business in partnership
at_____________________________ under the firm name and
style of __________________________________ a company
incorporated under the provisions of the Companies Act and
having its registered office at
________________________________ (hereinafter called "the
assignors(s) which expression shall wherever the context so
requires or admits be deemed to include his heir/their
respective heirs executors, administrators and permitted
assigns/its successors and assigns) of the first part and
___________________________________ and
__________________________ of __________________ carrying
on business _____________________ at
________________________ in the name and style of
__________________ as the sole Proprietor hereof/or
(1)_______________________________________________________
(2)____________________________________ etc.
(Insert the names of all partners)
carrying on business in Partnership at
_______________________________ under the firm name and
style of __________________________ or _______
_______________________ Ltd. Company incorporated under
the provisions of the Companies Act and having its
registered office at _____________
(Hereinafter called the assignee(s) which expression shall
whereever the context so requires or admits be deemed to
include his heirs/their respective heirs, executors,
administrators and assigns/its successors and assigns, of
the the second part and the President of India (hereinafter
called "the Government" which expression shall unless
excluded by or repugnant to the context include his
successors and assigns) of the third part.
WHEREAS the assignor(s) has/have prior to the
_________________
(insert date) been carrying on business at
__________________________
____________________________________________.
AND WHEREAS the assignor(s) had entered into with the
Government certain contract(s) more particularly specified
in the schedule hereunder written (hereinafter referred to
as the said contract(s).
OR
AND WHEREAS the assignor(s) have converted themselves into
limited company etc. viz. the assignee herein.
AND WHEREAS the assignor(s) are desirous of assigning the
benefits of the said contract(s) to the assignee.
AND WHEREAS the assignor(s) has/have agreed to assign the
said contracts to the assignee for a sum of
Rs._______________ applicable in case of the assignee is a
new party).
AND WHEREAS under the terms and conditions of the said
contract(s) prior consent in writing of the Government is
required for any such assignment.
AND WHEREAS under the assignor(s) requested the Government
to give their consent to such assignment.
AND WHEREAS at the request of the assignor(s) the
Government has agreed to the benefit of the said
contract(s) being assigned to the assignee as from
____________ as is evidenced by its joining in and
executing these presents.
NOW THIS INDENTURE WITNESSETH that in pursuance of the said
agreement and at the request of the assignee, the
assignor(s) doth hereby assign(s) and transfer(s) the
benefit of the said contract(s) all pending contracts more
particularly specified in the schedule hereunder written
and all and every stotres, goods equipments, mentioned in
the said contract(s) and money to become due thereby or by
any agreement therein contained and all rights of action,
benefit, advantage, claims and demand, whatsoever relating
thereto which thereby or otherwise in any manner, the
assignor(s) is/are entitled.
TO HOLD the contract(s) and all and every the said stores
goods equipments and all other premises hereby assigned
into the assignee absolutely and the assigner(s) doth
hereby empower the said assignee to demand, sue for
recovery and receive all the singular the premises hereby
assigned and upon receipt thereof/or any part thereof to
give discharge for the same as fully in all respects as the
assignor might do and the President doth hereby agree to
the assignment and transfer of the benefit if the said
contract(s) by the assignor(s) to the assignee(s) as
aforesaid.
AND the assignee hereby covenant with the assignor(s) and
the Government that the assignee shall duly fulfill,
onserve and perform the several obligations and
stipulations on the part of the assignor(s) contained in
the said contract(s) and shall at all times hereafter save
harmless and keep indemnified the Government and
Assignor(s) against all actions, proceedings, claims and
demands damages, penalities and costs whatsoever by reasons
of or on account of any default or breach on the part of
the Assignee in observance of the said contrac(s) or
otherwise in relation thereto on account of the several
orders contracts and other matters specified in the
schedule hereto.
AND nothing herein contained shall discharge the
assignor(s) from any liability under the said contract(s)
as may have been incurred prior to the date hereof.
IN WITNESS WHEREOF the parties hereto have executed these
presents the day and the year first herein above written:
SCHEDULE above referred to :
______________________________________________________________
*A/T No. & Date Amount
1.
2.
* In case assignee other than Limited concern.
3.
4.
Signed and delivered by the within names assigner in the
presence of
1.
2.
Signed and delivered by ____________________________________
___________________ for and on behalf of the President of
India in presence of:
1.
2.
In case the assignee is a Limited Company.
The common seal of ________________ Limited was hereunto
affixed pursuant to the resolution of the Board of
Directors passed at a meeting of the Board hald on the
_____________ day of _______ 199 /2000 in the presence of
1.
2.
We have signed belod:
1.
2.
Signed in the presence of
1.
2.
Signed by the in the presence of
1.
2.
The details in the above signature clause will have to be
inserted in accordance with the provisions contained in
this behalf in the Article of Association of the Particular
Company concerned.