Agreement between an Internet Company and Web Site Owner
| Updated at | March 2010 |
Agreement made at.... this... day of.... between M/s. XYZ Pvt. Ltd. Co., a Company registered under the Indian Companies Act, 1956 and having its registered office at.... hereinafter referred to as "the Internet Company" (which expression shall include its succession and assigns) of the one part and M/s. ABC Pvt. Ltd. Co., a Company registered under the said Companies Act, and having its registered office at.... hereinafter referred to as the Web Site Company (which expression shall include its successors and assigns) of the other part.
Whereas,
(1) The Web Site Company owns and operates a web site by name www com) at.....
(2) The Internet Company owns and operates a internet facility by name.... hereinafter referred to as "the internet".
(3) The Web Site Company is desirous of establishing a link from the internet home page to the web site of the Web Site Company (hereinafter referred to as the said web site) and at the request of the Web Site Company the Internet Company has agreed to provide a button called.....on its home page under the sec.....channels and the button will be linked to the said web site.
(4) It is agreed between the parties hereto to enter into this formal agreement recording the terms and conditions agreed to between the parties.
Now it is agreed and declared by and between the parties hereto as follows:
(1) This agreement shall be effective on the happening of the following two events namely: (i) when the Internet Company receives the first instalment of the payment or consideration to be paid by the Web Site Company to Internet Company as hereinafter stated and (ii) the link is established from the Internet Companys' home page to the said web site. The date on which any of the two conditions is fulfilled last will be the effective date of this agreement.
(2) If the said two conditions or any of them is are not fulfilled within a period of.... months from the date hereof this agreement shall be deemed to be cancelled automatically.
(3) The total consideration to be paid by the Web Site Company to the Internet Company will be Rs......and the same will be paid by the former to the latter in the manner following that is to say a sum of Rs.....will be paid on the said effective date and that balance will be paid by.... monthly instalments each of Rs.... time being essence of the contract. If the Web Site Company makes default in payment of any such instalment on the due date the Web Site Company will be liable to pay...
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