VENDING MACHINE AGREEMENT.
This Vending Machine Agreement (hereinafter referred to as the “Agreement”) is
made on this __________ day of ___________ 20__ (hereinafter referred to as the
“Effective Date”) by and BETWEEN MACHINE MATRIX LLC (hereinafter referred to
as the “Vending Company”) and ___________________ (hereinafter referred to as
the “Site Host”). Together referred to as the “parties.”
WHEREAS, the Vending Company desires to place vending machines on the
premises as defined herein; and
WHEREAS, the Site Host agrees to let the Vending Company access the premises
to set up and place the vending machine.
NOW, THEREFORE, in consideration of the above, the parties herein agree to be
legally bound by the following terms and conditions; –
1. Premises.
The agreed premises/space is located at __________________.
2. Installation.
The parties agree that upon the acceptance of the premises and the terms herein,
the Vending company shall, at its own expense, place/set up the vending machine
point.
3. Term.
The parties herein agree that this Agreement shall be for a term of 4 years, with the
first year being the probationary period for both parties, and the agreement extends
to an additional three years unless one party gives the other a 30-day notice before
the end of the probationary period.
4. Use.
The Vending Company shall use and occupy the space during the term of this
Agreement for placing and operating a vending machine for third parties.
The use of the space shall be in accordance with the applicable codes and laws.
5. Payment.
The parties herein shall share the revenue generated from the services to be
generated by the vending machine at the percentage of ___%: ___%.
The payments shall be made on the 5 th day of every month via direct deposit unless
otherwise agreed between the parties.
6. Maintenance.
The Vending Company shall be responsible for maintaining the vending machines.
The site host shall not be liable for any damage unless such damage is caused by
the site host’s gross negligence or willful misconduct.
The site host agrees to coordinate any maintenance needed from their end for the
smooth running of the duties and obligations herein.
7. Ownership.
Parties agree that the equipment is owned by the Vending Company and the
products contained in the equipment.
8. Indemnification.
The parties herein agree to indemnify the other party in case of any liabilities or loss
arising from the performance of the obligations herein.
9. Insurance.
The Vending Company shall obtain general liability insurance with limits of not less
than ____________________ for bodily injury or death.
As requested, evidence of the insurance shall be delivered to the Site Host from time
to time.
Upon request, the Vending Company shall include the Site Host as an additional
insured on its general commercial liability and umbrella insurance policies.
10. Confidentiality and Publicity.
The terms of this Agreement and the details thereof shall be confidential, and the
same shall not be disclosed to any third parties without prior written consent from the
parties.
11. Termination.
The parties herein may terminate the terms by issuing a 30 days’ prior written notice
to the other party, clearly indicating the reasons for the termination.
The following are some of the reasons for the termination of the Agreement; –
i. Lack of performance herein.
ii. Failure to make $150 per week.
iii. Vending machines having 2/3rds empty coils.
iv. Vending machines being unsightly and malfunctioning reasonably detracts
from the site host’s reputation.
v. Any structural failure.
vi. Any act of vandalism.
The parties herein agree that the vending company has the option of being bought
out of this Agreement for an agreed-upon amount.
12. Dispute.
In case of any dispute/complaint regarding the orders, the same shall be resolved
through mediation with the submitting party of the dispute, catering for the legal costs
entailed.
13. Governing Law.
The terms of this Agreement will be governed and construed in accordance with the
laws of Illinois.
14. Assignment.
The terms and obligations shall bind the parties and their respective successors and
assigns.
15. Waiver.
The lack of enforcement of any rights and obligations under this Agreement does not
mean a waiver of any present or future violation.
16. Amendment.
This Agreement may only be amended or modified by an agreement signed by both
parties.
17. Severability.
If any term or provision under this Agreement is deemed unenforceable by a court of
law, the same shall be severed from the Agreement, and the remaining condition
shall continue to be in full force and effect.
IN WITNESS WHEREOF, the parties have agreed and executed this Agreement as
of the Effective Date indicated in the Agreement.
MACHINE MATRIX LLC; –
Representative:
______________________
Signature:
___________________________
Date:
_______________________________
Email Address:
_______________________________;-
Representative:
______________________
Signature:
__________________________
Date:
_______________________________
Email Address:
_______________________ _______________________
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