Between __________ (CIN __________) of __________ (the "Company"), its founders __________ (the "Founders"), and __________ of __________ (the "Investor").
PURPOSE. This term sheet sets out the main terms on which the Investor proposes to invest in the Company. Except for the binding terms in Part C, it is a statement of intention and creates no obligation to invest or to accept the investment. Final agreements will be drawn up if the checks in Part B are satisfied.
PART A: THE PROPOSED TERMS (not binding)
6. Information and pre-emption. The Company will give the Investor annual audited accounts, quarterly management figures and reasonable access to its records, and the Investor may take its share of any later issue of shares so as to keep its percentage.
PART B: CONDITIONS (not binding)
PART C: BINDING TERMS
11. Costs. Each party bears its own costs of this term sheet and the investment, unless the final agreements say otherwise.
For the COMPANY: __________ __________ Signature: ______________________________
The FOUNDERS (each signs) Signature: ______________________________
The INVESTOR __________ Signature: ______________________________