20. If either party terminates this Agreement as set forth above, the party making such notice shall offer the other party in writing the sale of its shares of the Company at the then-prevailing market value and if the party receiving such offer does not accept the offer itself or through its agent or candidates within ninety (90) days of the date of such notice, second, it is assumed that the corporation is voluntarily wound up, in which case a liquidator is appointed for the eventual dissolution of the corporation for the purposes of this clause with the phrase « fair market value ». means the price per share agreed upon by the parties or in the event that the parties are unable to reach an agreement within such ninety (90) day period, the price per share will be determined by the Company`s independent auditor and this provision shall be final and binding on the parties. 29. The validity of this Agreement and the effect or meaning of the terms of this Agreement shall be determined in accordance with Indian law. 22. It is expected that the Indian company will be able to produce at least. Objects of such machines every year. In case the Indian company does not do it. Without reasonable reason acceptable to the foreign company, the foreign company has the option to terminate this agreement on that behalf with three months` notice. 5.

The Machines, when received by the Indian Company, may be sold by the Indian Company or given on a hire-purchase basis at the price agreed between the Parties from time to time and on such other terms as the Indian Company deems appropriate. In any case, the price at which it is sold or based on non-rental or hire-purchase must be competitive in the Indian market. The Court of Appeal overturned the decision, stating that the Hague Convention on Service does not allow service by mail in countries that challenged Article 10 and that China, where SinoType was served, filed an appeal under Article 10. The court rejected Rockefeller`s argument that private parties could contractually establish the terms of use, noting that the language of the convention explicitly refers to the rights of each state, not its citizens, and as such, private parties cannot enter into contracts around the contract. (b) the Company may not incur or incur any capital expenditure; and 25. This Agreement shall not be construed by either party as constituting the representative of the other or the Company as an agent of either party. 31. In this Agreement, the term « know-how » includes technical information such as inventories, formula methods, engineering and manufacturing skills, scientific data, calculations, specifications, drawings, standards, sketches and all other relevant information and knowledge. (b) The annual financial statements of the company shall be audited by an independent auditor, who shall be appointed by mutual agreement of the parties.

Every six months and within sixty (60) days of the end of the month in question, the Company will issue to the shareholders the annual accounts and the management report for the period covered by the financial statements, which will be submitted in English at the company`s expense. Differences in language, culture and legal systems can strongly influence the success of an international business relationship. If you are doing business with a company based in another country, it is important to enter into written agreements that cover issues unique to international trade. At Cantwell & Goldman PA, our international business lawyers can help U.S. domestic and foreign companies succeed both in Florida and in the global marketplace. 6. All issued shares must be paid in full to the Company in cash and/or in kind, but no other shares must be issued without the prior mutual consent of the parties. However, the parties have a subscription right proportional to the number of shares held by each of them in connection with a new issue of shares of the Company, subject to the approval of SEBI, if any. The Rockefeller Court ruled that the parties cannot enter into a private agreement to circumvent the official service requirements set out in the Hague Service Convention.

The Convention was created to enable and regulate the service of proceedings in a foreign country, to ensure that service is valid in accordance with the Convention and that service has been reasonably calculated to ensure effective service. Service under the Convention requires the transmission of judicial documents by the « Central Authority » of the requesting and receiving countries, the latter ensuring effective service on the foreign Contracting Party. Not surprisingly, the service from The Hague is expensive and cumbersome. it often takes several months to complete. A recent case in California could force companies doing business with foreign companies to reconsider and perhaps rewrite their contracts. In Rockefeller Tech. Invs. (Asia) VII v. Changzhou Sinotype Tech.

Co., No. B272170, 2018 WL 2455092 (Cal. App. 1. June 2018), the California Court of Appeals ruled that the parties cannot enter into contracts on the formal service requirements of the Convention on the Service of Judicial and Extrajudicial Documents Abroad, commonly referred to as the Hague Service Convention. The decision could have a profound impact on international trade. 33. This Agreement shall be construed in accordance with the laws of India and shall enter into force. 18. Said machines are sold under the trademark or patent mark of the foreign company, and for this purpose, the foreign company grants users a license for the Indian company, as required by law by a separate agreement.

2. The foreign company shall export said machinery to the Indian company in the Indian ports specified by the Indian company in the quantities specified by the Indian company in the quantities required by the Indian company from time to time, but subject to availability at the foreign company. .