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To: ________________ From: Joe Baba/Jeff Anderson RE: Territory Lock Up
Dear _____________,
This Agreement is between ________________________ (Machine Buyer) and RYO Northwest, LLC (Distributor) whereby RYO Northwest, LLC grants Machine Buyer exclusive protection on a 1.5 mile radius of protection or other area of protection as identified by the attached map, for a potential store located at _________________________________________, with such protection expiring 45 calendar days from the date of this Agreement. This Agreement becomes effective when a non-refundable Option Fee of $1000 is paid to the Distributor.
Additional 45 day extensions are available, each requiring an additional $1,000 non-refundable Option Fee. Option Fees will be used towards the purchase price of the machine as long as such Option is exercised prior to 180 days; Option Fees will not be allowed as a credit towards the purchase of a machine if such Option has not been fully exercised after 180 days and effectively increases the cost of any future machine purchase, if any.
Exclusive protection will be formally extended and converted into a “protected territory” by signing a Purchase Agreement and Operating Agreement and providing a $10,000 deposit for the RYO Filling Station prior to expiration of this Agreement, or any extensions offered.
Therefore, this Agreement is consummated via a non-refundable $1,000 Option Fee made payable to RYO Northwest , LLC as per signatures below:
_____________________________ _______________________________ Joseph S. Baba (RYO Northwest) (Machine Buyer) Jeff Anderson (Milestone Business Group) |
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Territory Lock up Agreement |