arisen pursuant to a term sheet dated 26.11.2015
(hereinafter referred to as the "Term Sheet"). The Term Sheet was signed
between Oravel Stays ... respondent. The
Term Sheet is reproduced as under -
"SUMMARY OF PRINCIPAL TERMS
This preliminary term sheet ("Term Sheet'') sets forth
thus:-
"TERM SHEET
This Term Sheet dated and effective as of October ______2015 ("Term Sheet"
sets out the indicative terms of understanding ... either party of the
provisions of this Term Sheet (upon the
Term Sheet becoming binding upon the
parties), the other party shall be entitled
Binding
Term Sheet shall be considered a breach by the Promoters, the Company and
KP-SK and any breach under the Term Sheet shall ... been able to comply with
the Terms of Share Subscription and Shareholders Agreement and Binding
Term Sheet, dispute between the parties was referred to Arbitrator
suffix to the Term Sheet at certain places above,
it is agreed that the Term Sheet shall be binding
upon the parties to the following ... only during the Term,;
(i) During the Term, the Sellers and the Buyer
shall abide by the terms of this Term Sheet. Also,
the Seller
Term Sheet and the Collaboration Agreement
dated 19th October, 2012 would not have been at variance
with each other.
If Term Sheet was a binding ... Term Sheet alone. However,
the parties were aware that the Term Sheet was only a
preliminary document with no binding effect. Thus the
parties
said term sheet provided for a main
Transaction Document to be subsequently executed, but the same was a
mere formality and the term sheet ... defendant had a term sheet of
a date earlier than the date when the plaintiff signed the term sheet with
the owner of the property
Arbitrator to
adjudicate the disputes between the parties arising out of Binding Term
Sheets dated 10.05.2021.
2. The binding term sheet is executed between ... respondent company. The term
sheet pertains to supply of medical equipment and oxygen concentrators.
This term sheet is stated to be the contract between
Term Sheet.
8.1.8. Further Clause 31 of the Term Sheet stipulates "Condition Precedent (CP)" as
follows:-
This term sheet shall be binding upon ... Term Sheet
dated 22.02.2010 was signed and as mentioned in Clause 34 of the Term
Sheet, it superseded the earlier Term Sheet dated 20.07.2009 signed
that "the parties were acting
upon the Term Sheet and the Term Sheet (was) a binding document".
18.2 Qua Issue 5
18.2.1 This ... under
the Term Sheet as instructed by the Respondent. The said
obligations were performed in compliance of the Term Sheet
which was binding
after discussions, the applicant and the respondent entered into a binding Term Sheet on 17.6.2011 and a Consultancy Agreement for technical services ... that for the services provided by the applicant under the "Binding Term Sheet", they were to be paid
