Joint Venture- 5

WHEREAS Company A and Company B will jointly develop two [•][Specific equipment/system name] according to the requirements of the Ministry of participate in [•] trials to be expected in [•][Year], if shortlisted by Ministry of (hereinafter referred to as "Project") 

WHEREAS Company A and Company B are willing to set up a private limited company in [•][Specific country] in accordance with the laws of [•][Specific country] (hereinafter referred to as "JVC") for manufacture, marketing and sale of [•][Specific equipment/system name] (hereinafter referred to as " XYZ System") and/or related other systems;

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