WAIVER AGREEMENT
THE PARTIES: This Waiver Agreement (“Agreement”) made on ____ Day of ____2023, is
between _________________ with a mailing address of _____________, City of _________,
State of ____________ (“BAKERY”) and _________ with a mailing address of___________,
City of __________, State of ___________ (“THE RENTERS”) both of whom agree as follows:
IN CONSIDERATION OF the matters described above and of the mutual benefits and
obligations set forth in this Agreement, the receipt and sufficiency of which consideration is
hereby acknowledged, the Bakery and the Renters (individually the “Party” and collectively
“The Parties” to this agreement) agree as follow:
TERMS
1. FORMATION
LowCarb Avenue LLC, a bakery, will be renting baking equipment’s from Kaizen
Ventures LLC. The below equipment listed will be used by LOWCARB Avenue LLC on
Sunday of every week and Tuesday after hours (after 6 pm).
Mixer
Oven
Bread Slicer
Proofer
Kneading Table
LOWCARB Avenue will only use the equipment when Kaizen Ventures LLC is not
using. In the event of major holidays, Kaizen Ventures may bake on Sundays and
Tuesday nights. LOWCARB Avenue do not use any other equipment without permission
from Kaizen Ventures LLC. If LOWCARB Avenue LLC would like to use the equipment
more than 2 times a week, only upon availability of the equipment and approval from
Kaizen Ventures, we LOWCARB Avenue use the equipment.
2. TERMS OF AGREEMENT
The term of this agreement (the “Term”) will begin on the date on this agreement and
will remain on full force and effect until the completion of the services, subject to earlier
termination as provided in this Agreement. The Term may be extended with the written
consent of the parties.
3. AUTHORITY TO ENTER AGREEMENT
Each Party warrants that the who signed this Agreement have the actual legal power,
right and authority to make this individuals agreement and bind each respective Party
4. COMPENSATION
As compensation, LOWCARB Avenue LLC will pay for each day of usage $125.00 to
Kaizen Ventures
5. INTELLECTUAL PROPERTY
The companies own their brand logos all their trademarks and properties.
6. DISPUTE RESOLUTION
If the Parties are unable to resolve a Dispute through informal negotiations, the Dispute
will be resolved by litigation the results will dictate the next step.
7. CONFIDENTIALITY
Except as otherwise expressly permitted in this Agreement, the parties shall not disclose
or use in any manner, directly or indirectly, any Confidential Information either during
the term of this Agreement or at any time thereafter, except as required to perform their
respective duties and responsibilities or with the other party’s prior written consent. Both
parties agree that all Confidential Information disclosed and received shall remain secret
and confidential during the term of this Agreement and continue thereafter for 10 years
after this Agreement is terminated or expires. Except as may otherwise be required by
law or legal process, neither party hereto shall disclose to any third party the terms and
conditions of this AGREEMENT.
8. LIABILITY
Except as set forth otherwise in this agreement, in no event shall either party be liable to
the other for any incidental, consequential, special or punitive damages of any kind or
nature arising out of this agreement or the sale of product, whether such liability is
asserted on the basis of contract, tort (including the possibility of negligence or strict
liability), or otherwise, even if the party has been warned of the possibility of any such
loss or damage, and even if any of the limited remedies in this agreement fail of their
essential purpose.
9. WAIVER
No waiver of any default shall constitute a waiver of any default or breach, whether of
the same or other covenant or condition. Since the company will be using Kaizen
ventures equipment’s, in case of any incidences that happen during the usage they will be
liable.
10. NOTICES
All notices under this Agreement shall be in writing and sent to the address of the
recipient specified herein. Any such notice may be delivered by hand, by overnight
courier, certified mail with return receipt, or first class pre-paid letter, and will be deemed
to have been received (1) if delivered by hand – at the time of delivery; (2) if delivered by
overnight courier – 24 hours after the date of delivery to courier with evidence from the
courier; (3) if delivered by certified mail with return receipt – the date as verified on the
return receipt; (4) if delivered by first class mail – three (3) business days after the date of
mailing.
11. TERMINATION
During the course of this agreement, the parties may terminate this Agreements if there is
illegal activity, destruction of property, when the parties no longer do business together,
when the compensations agreed upon are not paid or any other breach. In a case where
Kaizen Ventures sells / transfers the ownership to others, effective immediately, this
agreement will become void. Kaizen Ventures will give 30 days’ notice of terminating
the agreement.
12. SEVERABILITY
If any term, covenant, condition, or provision of this Agreement is held by a court of
competent jurisdiction to be invalid, void, or unenforceable, the remainder of the
provisions shall remain in full force and effect and shall in no way be affected, impaired,
or invalidated.
13. FORCE MAJEURE
Neither party shall be liable for any failure to perform under this Agreement when such
failure is due to causes beyond that party’s reasonable control, including, but not limited
to, acts of State or governmental authorities, acts of terrorism, natural catastrophe, fire,
storm, flood, earthquakes, accident, and prolonged shortage of energy.
14. GOVERNING LAW
This Agreement shall be governed under the laws in the state of Maryland.
15. AMENDMENT AND MODIFICATION
No supplement, modification or amendment of this Agreement shall be binding unless
executed in writing and signed by both parties
IN WITNESS WHEREOF, this Agreement was signed by the parties under the hands of their
duly authorized officers and made effective as of the undersigned date.
Manager’s 1 Signature __________________________ Date ________________
Name ____________________________
COMPANY NAME
Manager’s 2 Signature __________________________ Date ________________
Name ____________________________
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