Non-Binding Letter of Intent to Purchase Pinto PODS. This Non-Binding Letter of Intent (“LOI”) sets forth the preliminary, non-binding understanding with Pinto Inc. (“Pinto”) regarding Customer’s interest in purchasing Pinto’s Portion Optimized Dispensing System (“PODS”), a robotic device for filling and sealing portion cups in restaurant kitchens (the “Product”).
1. Expression of Interest
Customer hereby expresses its good faith interest in the purchase of one or more units of the Product, subject to the finalization of a formal purchase agreement and internal approval processes.
2. Anticipated Terms of Purchase
While this LOI is non-binding, the parties anticipate that any future purchase of the Product would be subject to substantially similar terms as those offered to other early customers, which currently include the following:
An anticipated retail price of $2,999 per unit (plus applicable taxes and shipping);
Delivery anticipated prior to the end of calendar year 2025, subject to change due to manufacturing and supply chain constraints;
A one-year limited warranty for defects in materials and workmanship under normal use;
Acknowledgment that the Product is under development and subject to potential design changes;
Optional subscription-based features, services, or consumables, to be priced and offered separately.
3. Non-Binding Nature
This LOI is non-binding and does not create any legal obligation on the part of either party to consummate a transaction or enter into any agreement. Either party may terminate discussions at any time and for any reason. Any binding commitment will only arise upon execution of a definitive written agreement signed by both parties.
4. Confidentiality
Each party agrees to keep the terms of this LOI, and any non-public information exchanged in connection with the Product, confidential and not disclose such information to any third party without prior written consent, except as required by law.