LETTER OF INTENT
To : MR. GARY SANTOS
Mulit Textile Cosporation
Anabu, Imus, Cavite
From : ENGR. ABET CASALS
Green Global Resources Advance Tech, Inc.
Liza Compound, Sto. Tomas, Batangas
Subject : Solar PPA/BOT Agreement
Dear Mr. Santos ,
We, Green Global Resources Advance Tech, Inc, with official address located at 167 Liza Compound, Brgy. 4, Sto. Tomas, Batangas, hereby make this formal offer with full corporate authority and responsibility, that we are ready, willing and able to build a solar system in your campus.
It is with great pride that our 100 % Filipino owned company shall be able to provide to the Philippines the cleanest and greenest ...view middle of the document...
Upon execution of a definitive agreement, and pursuant to the relevant laws, rules and regulations, assist in the arrangement of the equity investment and required debt financing for the identified solar project’s successful implementation.
d. Upon execution of this agreement, both parties will assign project managers from both sides to perform end to end project management.
The scope of the duties and obligations within this project shall be subject to a more detailed definitive agreement. Agreement between GGR and Customer, as well as approval from the Financing organization, as applicable (These terms may be found on Lender Term Sheet, Commitment Letter or other formal bank acknowledgement giving written notice of Intent to Finance)..
Each of the Parties shall defend, indemnify and hold the other Party (and its Affiliates) harmless from any claim, demand, cause of action, loss, cost, expense, and other liabilities asserted against or incurred by the other Party (and/or its Affiliates) which results from or arises out of such Party’s negligence or willful misconduct in connection with this LOI. These indemnities shall survive the withdrawal or termination of a Party from its future obligations pursuant to this LOI and/or the termination of this LOI with respect to acts and omissions that occur prior to the effective date of withdrawal or termination, as the case may be.
In no event shall either Party indemnify the other Party for consequential, indirect or special damages under this LOI.
The Parties agree to work together and to pursue this LOI in utmost confidence, and without circumventing each other. However, suitable press releases may be issued with the approval of the other party, which shall not be unreasonably withheld.
The Parties hereby agree that any valuable information, including financial information, disclosed and/or received by either Party relative to this undertaking shall be kept confidential from third parties, excluding those third parties required to successfully execute this agreement (ie Lenders, Subcontractors, Consultants), except with prior consent of both parties. No amendment or supplement to this LOI, and no approval or consent constituting an amendment, shall be effective for any purpose unless made in writing and signed by a duly authorized officer from both Parties.
This LOI embodies the entire agreement between the Parties hereto related to the subject matter hereof. Any prior understanding, agreement, negotiation and representation among the Parties related to the subject matter hereof, whether oral or written, are hereby superseded.
Unless earlier terminated by any of the Parties, with or without cause, upon a thirty day written notice, this LOI shall become effective and binding for a period of sixty days (60) from the time it is signed by the Parties' duly authorized representatives, unless superseded by the execution of a definitive agreement. This LOI may be extended by written...