TABLE OF CONTENTS
1 INTENTION
2 CONFIDENTIALITY
3 TERM AND TERMINATION
4 GOVERNING LAW AND DISPUTE RESOLUTION
5 MISCELLAENEOUS
List of Annexures:
Annex 1 Products and Services Summary
This Memorandum of Understanding (“MOU”) together with all Appendices attached heretoand forming an integral part hereof, (hereinafter called the “MOU”) is made and entered in to as of 23 April 2015 (“Effective Date”) by and between:
Italian Thai Development Public Company Limited a company incorporated and existingunder the laws of Thailand, having its registered office at 2034/132-161 Italthai Tower NewPetchaburi Road, Bangkapi, HuayKwang, Bangkok 10310, Thailand. (hereinafter referred to as "ITD")
AND
Planet Communications Asia Public Company Limited a company incorporated and existingunder the laws of Thailand, having its registered office at 157 Soi Ramindra 34, Ramindra Road, Tarang, Bangkhen, Bangkok 10230 (hereinafter referred to as “PCA”).
PCA and ITD are each hereinafter also referred to as "Party" and, collectively, as "Parties"
WHEREAS:
A. The Parties are desirous of working together for Green Line MRT Construction project(hereinafter referred to as the “Project”) of END USER NAME.
B. The Parties are desirous of documenting their intentions as described above upon theterms and conditions hereinafter appearing.
NOW, THEREFORE, in consideration of their respective covenants as hereinafterappearing,the parties agree as follows:
1 Intention
1.1 From the Effective Date of this MOU, ITD shall cooperate exclusively with PCA for Core Switch and Access Switch products and services of this Project. ITD shall use its best endeavours to secure the Project and propose products and services from PCA to TOT Public Company Limited.
1.2 Upon the award of the Project to ITD, ITD shall conclude a contract with PCA for the supply of the Project and purchase Core Switch and Access Switch product and services specified in Annex 1 from PCA, that shall not be later than 30 June 2015. Lead time from PCA shall be 120 Days after receiving a purchasing order from ITD. Details of the scope of work and responsibilities can be further negotiated in good faith by the Parties.
2 Confidentiality
Unless otherwise agreed to in writing, the Parties agree to keep the contents of this MOU andall related activities and documents strictly confidential unless the disclosure of suchinformation by either Party is required under law or the order of any court of law, in whichcase such Party shall first inform the other Party before disclosing any of the other Party’sinformation. In respect of certain information that either Party may reveal to the other Party,the other Party hereby agrees to keep such information confidential.
3 Term and Termination
3.1 This MOU shall be effective from the Effective Date and remain in force for a period ofone (1) year. Either Party shall have the right to immediately terminate this MOU at any timeby mutual written agreement of the Parties.
3.2 Either Party shall have the right to immediately terminate this MOU upon written noticetothe other Party in any of the following events:
(a) The other Party has committed a material breach of this MOU and has failed to cure suchmaterial breach within thirty (30) days of written notice complaining thereof from theterminating party; or
(b) The other Party becomes insolvent, becomes subject to bankruptcy or reorganization orsimilar procedures for the relief of debtors, or makes a general assignment for the benefit ofdebtors, or any application therefore; or
(c) The other Party decides to sell, transfer or otherwise dispose of a material part of thebusiness concerning this MOU without the prior written consent from the terminating party;or
(d) The other Party decides to dissolve or be liquidated; or
(e) The other Party is subject to any substantial change of ownership, including due to anytakeover or merger with another company.
4 Governing Law and Dispute Resolution
This MOU shall be governed by the law of Thailand. Any dispute arisen between the Partiesthat cannot be settled amicably shall be submitted to the Thai court.
5 Miscellaneous
5.1 No Party shall have the right to assign to any third party any or all of its rights andobligations under this MOU without prior written consent of the other Party.
5.2 This MOU is made in English in two (2) copies, one (1) for PCA and one (1) for ITD,each of which shall be equally authentic.