Document:

Exhibit
      10.1.7

    

    _________,
      2008

    

    Indas
      Green Acquisition Corporation

    Level
      30-31, Six Battery Road

    Raffles
      Place

    Singapore
      049909

     

    Chardan
      Capital Markets, LLC

    17
      State
      Street, Suite 1600

    New
      York,
      New York 10004

    

    Re: Initial
      Public Offering

     

    Ladies
      and Gentlemen:

     

    This
      letter agreement is being delivered to you in accordance with the underwriting
      agreement entered into by and between Indas Green Acquisition Corporation (the
      “Company”)
      and
      Chardan Capital Markets, LLC (“Chardan”
or
      the
“Representative”),
      as
      representative of the several underwriters (the “Underwriters”)
      relating to an initial public offering (the “IPO”)
      of
      5,250,000 units (6,037,500 if the over-allotment option is exercised in full)
      (the “Units”),
      each
      unit comprised of one ordinary share, par value $.0001 per share of the Company
      (the “Ordinary
      Share”)
      and
      one warrant exercisable for one Ordinary Share. The undersigned hereby agrees
      as
      follows (certain capitalized terms used herein are defined in paragraph 10
      hereof):

    

    1.
       If
      the
      Company solicits approval of its shareholders of an Extended Period or a
      Business Combination, the undersigned will: (i) vote all Insider Shares owned
      by
      the undersigned in accordance with the majority of the votes cast by the Public
      Shareholders who vote at the special or annual meeting called for the purpose
      of
      approving the Business Combination and (ii) vote any Ordinary Shares acquired
      in
      or following the IPO in favor of the Extended Period and the Business
      Combination.

    

    2. 
      Except
      with respect to any of the IPO Shares acquired by the undersigned in or
      following the IPO, the undersigned hereby irrevocably: (i) waives any and
      all right, title, interest, cause of action or claim of any kind (a
“Claim”)
      in or
      to all funds in the Trust Account and any remaining net assets of the Company
      upon liquidation of the Trust Account and dissolution of the Company;
      (ii) waives any Claim the undersigned may have in the future as a result
      of, or arising out of, any contracts or agreements with the Company, which
      Claim
      would reduce, encumber or otherwise adversely affect the amounts held in the
      Trust Account; and (iii) agrees that the undersigned will not seek recourse
      (legal, equitable or otherwise) against the Trust Account for any reason
      whatsoever. The undersigned hereby agrees that it shall promptly reimburse
      the
      Trust Account for any distribution of amounts in the Trust Account received
      by
      the undersigned in respect of its Insider Shares. For clarity, the undersigned
      may receive distributions from the Trust Account in respect of the Ordinary
      Shares acquired by the undersigned in or following the IPO. The undersigned
      waives the undersigned’s right to exercise redemption rights with respect to any
      Ordinary Shares owned or to be owned by the undersigned, directly or indirectly,
      and agrees that the undersigned will not seek redemption with respect to such
      shares in connection with any vote to approve a Business Combination or the
      Extended Period.

     

    3. The
      undersigned acknowledges and agrees that the Company will not consummate any
      Business Combination involving a company affiliated with any of the Insiders
      unless (a) such Business Combination is approved by a majority of the
      independent directors of the Company and (b) the Company obtains an opinion
      from
      an independent third party appraiser, which may or may not be an investment
      banking firm that is a member of the Financial Industry Regulatory Authority,
      Inc., reasonably acceptable to the Representative that the purchase price to
      be
      paid by the Company in the Business Combination is fair to the Company’s
      shareholders from a financial perspective.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    4. Neither
      the undersigned nor any Affiliate of the undersigned will be entitled to receive
      and will not accept any compensation for services rendered to the Company prior
      to the consummation of the Business Combination; provided that (i) the
      undersigned shall be entitled to reimbursement from the Company for its
      out-of-pocket expenses incurred in connection with seeking and consummating
      a
      Business Combination and (ii) payments of $7,500 per month pursuant to an office
      services agreement , dated, __________, 2008, between the Company and the
      undersigned.

     

    5. The
      undersigned agrees that neither the undersigned nor any Affiliate of the
      undersigned will be entitled to receive or accept, and the undersigned and
      its
      Affiliates, on behalf of the undersigned and the aforementioned parties, hereby
      waives any rights to, a finder’s fee or any other compensation payable by the
      Company in the event the undersigned or any Affiliate of the undersigned
      originates a Business Combination or otherwise renders services on behalf of
      the
      Company prior to or in connection with a Business Combination.

     

    6. The
      undersigned will escrow its Insider Shares for the period commencing on the
      effective date of the registration statement relating to the IPO (the
“Effective
      Date”),
      and
      ending on the earlier to occur of either: (1) two years after the effective
      date
      of the Prospectus (but in no event prior to the consummation of a Business
      Combination) or (ii) one year following consummation of a Business Combination,
      unless the Company consummates a subsequent liquidation, merger, stock exchange
      or other similar transaction which results in all of the
      shareholders
      of the
      combined entity having the right to exchange their ordinary shares for cash,
      securities or other property, subject in all respects to the terms of a
      Securities Escrow Agreement which the Company will enter into with the
      undersigned and the Continental Stock Transfer and Trust Company.
      

     

    7. The
      undersigned will escrow its Insider Warrants for the period commencing on the
      Effective Date and ending on the one (1) day following consummation of a
      Business Combination subject to the terms of a Securities Escrow Agreement
      which
      the Company will enter into with the undersigned and an escrow agent acceptable
      to the Company.

     

    8. The
      undersigned further represents and warrants to the Company and the Underwriters
      that:

     

    (a) The
      Subscription Agreement dated January 25, 2008 by and between the undersigned
      and
      the Company has been duly authorized, executed and delivered by the undersigned,
      is a valid and binding agreement of the undersigned, enforceable against the
      undersigned in accordance with its terms except as the enforceability thereof
      may be limited by bankruptcy, insolvency, or similar laws affecting creditors’
rights generally from time to time in effect and by equitable principles of
      general applicability;

    (b) The
      Amended and Restated Warrant Subscription Agreement dated June ___, 2008 by
      and
      between the undersigned and the Company has been duly authorized, executed
      and
      delivered by the undersigned, is a valid and binding agreement of the
      undersigned, enforceable against the undersigned in accordance with its terms
      except as the enforceability thereof may be limited by bankruptcy, insolvency,
      or similar laws affecting creditors’ rights generally from time to time in
      effect and by equitable principles of general applicability;

    

    (c) Upon
      execution thereof, the Registration Rights Agreement referred to in the
      Prospectus will be duly authorized, executed and delivered by the undersigned
      and will constitute a valid and binding agreement of the undersigned,
      enforceable against it in accordance with its terms except as enforceability
      thereof may be limited by bankruptcy, insolvency, or similar laws affecting
      creditors’ rights generally from time to time in effect and by equitable
      principles of general applicability; and

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    (d)  The
      undersigned has full right and power, without violating any agreement by which
      the undersigned is bound (including, without limitation, any non-competition
      or
      non-solicitation agreement), to enter into this letter agreement. This letter
      agreement has been duly authorized, executed and delivered by the undersigned
      and is a valid and binding agreement of the undersigned, enforceable against
      it
      in accordance with its terms except as enforceability thereof may be limited
      by
      bankruptcy, insolvency, or similar laws affecting creditors’ rights generally
      from time to time in effect and by equitable principles of general
      applicability.

    

    8. The
      undersigned authorizes any employer, financial institution, or consumer credit
      reporting agency to release to the Underwriters and their legal representatives
      or agents (including any investigative search firm retained by the Underwriters)
      any information they may have about the undersigned’s background and finances
      (the “Information”). 
      Neither the Underwriters nor their agents shall be violating the undersigned’s
      right of privacy in any manner in requesting and obtaining the Information
      and
      the undersigned hereby releases them from liability for any damage whatsoever
      in
      that connection.

     

    9. To
      the
      extent the Representative does not exercise the over-allotment option to
      purchase up to an additional 787,500 units of the Company, the undersigned
      agrees it shall return to the Company for cancellation, at no cost to the
      undersigned, a number of Insider Shares held by the undersigned determined
      by
      multiplying 196,875 by a fraction, (i) the numerator of which is 787,500 minus
      the number of Ordinary Shares included as part of the Units purchased by the
      Representative upon exercise of its over-allotment option and (ii) the
      denominator of which is 787,500. The forfeited amount shall be in an amount
      sufficient to cause the Existing Shareholders in the aggregate to maintain
      control over no more than 20% of the Ordinary Shares then-outstanding after
      giving effect to the IPO and the exercise, if any, of the over-allotment
      option.

     

    10. As
      used
      herein: (i) “Affiliate”
shall
      mean any member of the family of the undersigned or any entity or person that
      directly or indirectly controls, is controlled by or is under common control
      with, the undersigned; (ii) “Business
      Combination”
shall
      mean an acquisition, by merger, capital stock exchange, asset acquisition,
      stock
      purchase, reorganization or other similar business combination of one or more
      operating business as described in the registration statement relating to the
      IPO; (iii) “Extended
      Period”
shall
      mean the extension of the Company’s corporate existence from 24 to 36 months
      pursuant to the Company’s Amended and Restated Memorandum and Articles of
      Association; (iv) “Existing
      Shareholders”
shall
      mean the shareholders of the Company prior to the IPO, which includes Value
      Insights LLP; (iv) “Insiders”
shall
      mean all of the Company’s officers and directors, Mission Biofuels Limited and
      Value Insights LLP and their Affiliates; (v) “Insider
      Shares”
shall
      mean all of the Ordinary Shares owned by the Insiders prior to the IPO; (vi)
      “Insider
      Warrants” shall
      mean the 1,970,000 warrants issued by the Company in the Private Placement;
      (vii) “IPO
      Shares”
shall
      mean the Ordinary Shares issued in the Company’s IPO; (viii) “Private
      Placement”
shall
      mean the private placement of 1,970,000 warrants
      of the Company prior to the IPO; (ix) “Prospectus”
shall
      mean the prospectus contained in the registration statement relating to the
      IPO;
      (x) “Public
      Shareholders”
shall
      mean the holders of the securities issued by the Company in the IPO; and (xi)
      “Trust
      Account”
means
      the trust account in which the proceeds to the Company of the IPO will be
      deposited and held for the benefit of the holders of the IPO shares, as
      described in greater detail in the Prospectus.  

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    11. This
      letter agreement shall be governed by and interpreted and construed in
      accordance with the laws of the State of New York applicable to contracts formed
      and to be performed entirely within the State of New York, without regard to
      the
      conflicts of law provisions thereof to the extent such principles and rules
      would require or permit the application of the laws of another jurisdiction.
      The
      undersigned hereby agrees that any action, proceeding or claim against the
      undersigned arising out of or relating in any way to this Agreement shall be
      brought and enforced in the courts of the State of New York or the United States
      District Court for the Southern District of New York, and irrevocably submits
      to
      such jurisdiction, which jurisdiction shall be exclusive. The undersigned hereby
      waives any objection to such exclusive jurisdiction and that such courts
      represent an inconvenience forum.

     

    12. No
      term
      or provision of this letter agreement may be amended, changed, waived, altered
      or modified except by written instrument executed and delivered by the
      undersigned, the Company and the Representative. This letter agreement shall
      be
      binding on the undersigned and such person’s successors, heirs, personal
      representatives and assigns. 

     

    13. The
      undersigned acknowledges and understands that the Company and the Underwriters
      will rely upon the agreements, representations and warranties set forth herein
      in proceeding with the IPO. Nothing contained herein shall be deemed to render
      the Underwriters representatives of, or fiduciaries with respect to, the
      Company, its shareholders or any creditor or vendor of the Company with respect
      to the subject matter thereof.

     

    

    
      	 	
              VALUE
                INSIGHTS LLP

            
	
               

            	
               

            
	
               

            	
              By:

            	
                                             
                

            
	
               

            	 	
              Name:
                 Ashish
                Wadhwani

            
	
               

            	 	
              Title:
                Chief Executive Officer

            

    

    

    
      
         

      

      
        4Exhibit
      10.2

    

    INVESTMENT
      MANAGEMENT TRUST AGREEMENT

     

    This
      INVESTMENT
      MANAGEMENT TRUST AGREEMENT
      is made
      as of [     ], 2008 by and
      between Indas Green Acquisition Corporation (the “Company”)
      and
      Continental Stock Transfer & Trust Company (“Trustee”).

     

    WHEREAS,
      the
      Company’s Registration Statement on Form F-1, File No. 333-[        
]
      (“Registration
      Statement”),
      for
      its initial public offering of securities (“IPO”) was declared effective on
      [     , 2008] by the
      Securities and Exchange Commission (“Effective
      Date”);
      and

     

    WHEREAS,
      the
      Company has completed a private placement under Regulation S of the Securities
      Act of 1933, as amended, of 1,970,000 Warrants (the “Private
      Warrants”)
      prior
      to the completion of the IPO for a purchase price of $1,970,000;
      and

     

    WHEREAS,
      Chardan
      Capital Markets (“Chardan”)
      is
      acting as the representative (the “Representative”)
      of the
      underwriters in the IPO (the “Underwriters”);
      and

     

    WHEREAS,
      as
      described in the Company’s Registration Statement, in accordance with the
      Company’s Amended and Restated Memorandum and Articles of Association,
      $[44,000,000] of the net proceeds of the IPO and the sale of the Private
      Warrants ($48,142,500 if the Underwriters’ over-allotment option is exercised in
      full), will be delivered to the Trustee as of [     , 2008] to be
      deposited and held in a trust account for the benefit of the Company, the
      holders of the ordinary shares, par value $0.0001 per share, of the Company
      (“Ordinary
      Shares”),
      included in the units of the Company’s securities issued in the IPO (the
“Units”),
      and
      the Underwriters; and

     

    WHEREAS,
      a
      portion of the Property consists of $1,470,000 (or $1,690,500 if the
      Underwriters’ over-allotment is exercised in full) attributable to the
      Underwriters’ discount (the “Deferred
      Discount”)
      which
      the Underwriters have agreed to deposit in the Trust Account (as defined below).
      The amount to be delivered to the Trustee will be referred to herein as the
      “Property”
or
      the
“Base
      Deposit”,
      the
      Shareholders for whose benefit the Trustee shall hold the Property will be
      referred to as the “Public
      Shareholders,”
and
      the Public Shareholders, the Company and Chardan and the Underwriters will
      be
      referred to together as the “Beneficiaries”;
      and

    

    WHEREAS,
      the
      Company and the Trustee desire to enter into this Agreement to set forth the
      terms and conditions pursuant to which the Trustee shall hold the
      Property.

    

    NOW,
      THEREFORE,
      in
      consideration of the foregoing and the mutual covenants and agreements herein
      contained, the parties hereto agree as follows:

     

    1. Agreements
      and Covenants of Trustee.
      The
      Trustee hereby agrees and covenants to:

     

    (a) Hold
      the
      Property in trust for the Beneficiaries in accordance with the terms of this
      Agreement in segregated trust accounts (the “Trust
      Account”)
      established by the Trustee with ____________. The Trust Account shall not be
      located within the United States;

    

    (b) Manage,
      supervise and administer the Trust Account subject to the terms and conditions
      set forth herein;

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (c) In
      a
      timely manner, upon the written instruction of the Company, to invest and
      reinvest the Property in any “Government Security” or in money market funds
      selected by the Company meeting the conditions specified in Rule 2a-7
      promulgated under the Investment Company Act of 1940, as amended, as determined
      by the Company. As used herein, “Government
      Security”
means
      any Treasury Bill issued by the United States, having a maturity of one hundred
      and eighty days or less or any open ended investment company selected by the
      Company and registered under the Investment Company Act of 1940 that holds
      itself out as a money market fund meeting the conditions of paragraphs (c)(2),
      (c)(3) and (c)(4) under Rule 2a-7 promulgated under the Investment Company
      Act
      of 1940 as determined by the Company;

    

    (d) Collect
      and receive, when due, all principal and income arising from the Property,
      which
      shall become part of the “Property,” as such term is used herein;

    

    (e) Promptly
      notify the Company of all communications received by it with respect to any
      Property requiring action by the Company;

    

    (f) Supply
      any necessary information or documents as may be requested by the Company in
      connection with the Company’s preparation of the tax returns for the Trust
      Account or the Company;

    

    (g) Participate
      in any plan or proceeding for protecting or enforcing any right or interest
      arising from the Property if, as and when instructed by the Company to do
      so;

    

    (h) Render
      to
      the Company, and to such other person as the Company may instruct, monthly
      written statements of the activities of and amounts in the Trust Account
      reflecting all receipts and disbursements of the Trust Account;

    

    (i) If
      there
      is any income or other tax obligation relating to the income from the Property
      in the Trust Account (as determined by the Company), then, from time to time,
      at
      the written instruction of the Company, the Trustee shall promptly to the extent
      there is not sufficient cash in the Trust Account to pay such tax obligation,
      liquidate such assets held in the Trust Account as shall be designated by the
      Company in writing; 

    

    (j) Commence
      liquidation of the Trust Account only after and promptly after receipt of,
      and
      only in accordance with, the terms of a letter (the “Termination
      Letter”),
      in a
      form substantially similar to that attached hereto as either Exhibit
      A
      or
Exhibit
      B
      hereto,
      signed on behalf of the Company by its President or Chairman of the Board and
      Secretary or Assistant Secretary or other authorized officer of the Company,
      and
      complete the liquidation of the Trust Account and distribute the Property in
      the
      Trust Account only as directed in the Termination Letter and the other documents
      referred to therein; provided, however, that in the event that a Termination
      Letter has not been received by the Trustee by the 24-month anniversary of
      the
      effective date of the Registration Statement (the “Termination
      Date”),
      the
      Trust Account shall be liquidated in accordance with the procedures set forth
      in
      the Termination Letter attached as Exhibit B hereto and distributed to the
      Shareholders of record on the Termination Date. However, in no event will the
      Trust Account be liquidated later than the Extended Period, as defined below
      (the “Extended
      Date”).
      In the
      event that shareholders approve the extension of the period of time to
      consummate a Business Combination by an additional 12 months to 36 months
      from the effective date (the “Extended
      Period”),
      the
      Trustee shall receive shareholder resolutions approving the Extended Period.
      In
      all cases, the Trustee shall provide Chardan with a copy of any Termination
      Letters and/or any other correspondence that it receives with respect to any
      proposed withdrawal from the Trust Account promptly after it receives same.
      

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    2. Limited
      Distributions of Income on Property.

     

    (a) If
      there
      is any income tax obligation relating to the income from the Property in the
      Trust Account, or if there is any other tax obligation to which the Company
      is
      subject (as determined by the Company), then, at the written instruction of
      the
      Company, the Trustee shall disburse to the Company or the Internal Revenue
      Service or other taxing authority, as applicable, by wire transfer or check
      (as
      directed by the Company in its instruction letter), out of the Property in
      the
      Trust Account, the amount indicated by the Company as required to pay income
      or
      other taxes and disburse to the Company by wire transfer out of the Property
      in
      the Trust Account, the amount indicated by the Company as owing in respect
      of
      such taxes.

    

    (b) Upon
      written request from the Company containing certification that such distribution
      pursuant to this Section 2(b) shall only be used to fund the working capital
      requirements of the Company and the costs related to identifying, researching
      and acquiring a prospective target business, including, without limitation,
      the
      expenses incurred in connection with the Company’s dissolution, in each case as
      described in the prospectus that forms a part of the Registration Statement,
      the
      Trustee shall distribute to the Company an amount equal to up to $1,400,000
      of
      the interest earned on the Property in the Trust Account, net of taxes payable,
      through the last day of the month immediately preceding the date of receipt
      of
      the Company’s written request.

    

    (c) Upon
      receipt of the Termination Letter, the Trustee shall liquidate the Trust Account
      in accordance with Section 1(j).

    

    (d) Except
      as
      provided in this Section 2, no other distributions from the Trust Account shall
      be permitted.

     

    3. Agreements
      and Covenants of the Company.
      The
      Company hereby agrees and covenants:

     

    (a) To
      provide all instructions to the Trustee hereunder in writing, signed by the
      Company’s Chief Executive Officer and Chief Financial Officer. In addition,
      except with respect to its duties under paragraphs 1(i) and 1(j), the Trustee
      shall be entitled to rely on, and shall be protected in relying on, any verbal
      or telephonic advice or instruction which it in good faith believes to be given
      by any one of the persons authorized above to give written instructions,
      provided that the Company shall promptly confirm such instructions in
      writing;

    

    (b)
       Subject
      to the provisions of Section 5 hereof, to hold the Trustee harmless and
      indemnify the Trustee from and against any and all expenses, including
      reasonable counsel fees and disbursements, or loss suffered by the Trustee
      in
      connection with any action, suit or other proceeding brought against the Trustee
      involving any claim, or in connection with any claim or demand which in any
      way
      arises out of or relates to this Agreement, the services of the Trustee
      hereunder, or the Property or any income earned from investment of the Property,
      except for expenses and losses resulting from the Trustee’s gross negligence or
      willful misconduct. Promptly after the receipt by the Trustee of notice of
      demand or claim or the commencement of any action, suit or proceeding, pursuant
      to which the Trustee intends to seek indemnification under this paragraph,
      it
      shall notify the Company in writing of such claim (hereinafter referred to
      as
      the “Indemnified
      Claim”).
      The Trustee shall have the right to conduct and manage the defense against
      such Indemnified Claim, provided that the Trustee shall obtain the consent
      of the Company with respect to the selection of counsel, which consent
      shall not be unreasonably withheld. The Trustee may not agree to settle any
      Indemnified Claim without the prior written consent of the Company.
      The Company may participate in such action with its own counsel at its own
      expense;

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (c) Pay
      the
      Trustee an initial acceptance fee, an annual fee and a transaction processing
      fee for each disbursement made pursuant to Section 1(i) as set forth on
Schedule
      A
      hereto,
      which fees shall be subject to modification by the parties from time to time.
      It
      is expressly understood that the Property shall not be used to pay such fees
      and
      further agreed that said transaction processing fees shall be deducted by the
      Trustee from the disbursements made to the Company pursuant to Section 2(b).
      The
      Company shall pay the Trustee the initial acceptance fee and first year’s fee at
      the consummation of the IPO and thereafter on the anniversary of the Effective
      Date. The Trustee shall refund to the Company the annual fee (on a pro rata
      basis) with respect to any period after the liquidation of the Trust Account.
      The Company shall not be responsible for any other fees or charges of the
      Trustee except as set forth in this Section 3(c) and as may be provided in
      Section 3(b) hereof (it being expressly understood that the Property shall
      not
      be used to make any payments to the Trustee under such Sections);

    

    (d) That,
      in
      the event the Company consummates a Business Combination and the Trust Account
      is liquidated in accordance with Section 1(j) hereof, the Trustee or another
      independent party designated by the Company shall act as the inspector of
      election to certify the results of the Shareholder vote. As used in this
      Agreement, the term “Business
      Combination”
means
      the acquisition by the Company, through merger, capital stock exchange, asset
      or
      stock acquisition of, or similar business combination with, one or more
      operating businesses, as more fully described in the prospectus forming a part
      of the Registration Statement;

    

    (e) That
      the
      Officer’s Certificate referenced in Sections 1(j) hereof shall require the
      Company’s Chief Executive Officer and Chief Financial Officer to each certify
      the following (wherever applicable): (1) prior to the Termination Date or
      Extended Date, the Company has entered into a Business Combination with a target
      business, the terms of which are consistent with the requirements set forth
      in
      the Registration Statement; and (2) the Board of Directors (the “Board”)
      has
      approved the Business Combination. A copy of such consent and the definitive
      agreement relating to the Business Combination so approved shall be attached
      as
      an exhibit to the Officer’s Certificate;

    

    (f)
       In
      connection with any vote of the Company’s Shareholders regarding a Business
      Combination, provide to the Trustee an affidavit or certificate of a firm
      regularly engaged in the business of soliciting proxies and tabulating
      Shareholder votes (which firm may be the Trustee) verifying the vote of the
      Company’s Shareholders regarding such Business Combination; and

    

    (g)
       Within
      five business days after the Underwriters’ over-allotment option (or any
      unexercised portion thereof) expires or is exercised in full, to provide the
      Trustee notice in writing (with a copy to the Underwriters) of the total amount
      of the Deferred Discount, which shall in no event be less than
      $1,470,000.

    

    4. Limitations
      of Liability.
      The
      Trustee shall have no responsibility or liability to:

     

    (a) Take
      any
      action with respect to the Property, other than as directed in Sections 1 and
      2
      hereof and the Trustee shall have no liability to any party except for liability
      arising out of its own gross negligence or willful misconduct;

    

    (b) Institute
      any proceeding for the collection of any principal and income arising from,
      or
      institute, appear in or defend any proceeding of any kind with respect to,
      any
      of the Property unless and until it shall have received written instructions
      from the Company given as provided herein to do so and the Company shall have
      advanced or guaranteed to it funds sufficient to pay any expenses incident
      thereto;

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (c) Change
      the investment of any Property, other than in compliance with Section
      1(c);

    

    (d)
       Refund
      any depreciation in principal of any Property;

    

    (e) Assume
      that the authority of any person designated by the Company to give instructions
      hereunder shall not be continuing unless provided otherwise in such designation,
      or unless the Company shall have delivered a written revocation of such
      authority to the Trustee;

    

    (f) The
      other
      parties hereto or to anyone else for any action taken or omitted by it, or
      any
      action suffered by it to be taken or omitted, in good faith and in the exercise
      of its own best judgment, except for its gross negligence or willful misconduct.
      The Trustee may rely conclusively and shall be protected in acting upon any
      order, notice, demand, certificate, opinion or advice of counsel (including
      counsel chosen by the Trustee), statement, instrument, report or other paper
      or
      document (not only as to its due execution and the validity and effectiveness
      of
      its provisions, but also as to the truth and acceptability of any information
      therein contained) which is believed by the Trustee, in good faith, to be
      genuine and to be signed or presented by the proper person or persons. The
      Trustee shall not be bound by any notice or demand, or any waiver, modification,
      termination or rescission of this Agreement or any of the terms hereof, unless
      evidenced by a written instrument delivered to the Trustee signed by the proper
      party or parties and, if the duties or rights of the Trustee are affected,
      unless it shall give its prior written consent thereto;

    

    (g) Verify
      the correctness of the information set forth in the Registration Statement
      or to
      confirm or assure that any acquisition made by the Company or any other action
      taken by it is as contemplated by the Registration Statement, unless an officer
      of the Trustee has actual knowledge thereof, written notice of such event is
      sent to the Trustee or as otherwise required under Section 1(j)
      hereof;

    

    (h) Pay
      any
      taxes on behalf of the Trust Account (it being expressly understood that the
      Trustee’s sole obligation with respect to taxes shall be to issue the checks
      with respect thereto provided for by Section 2(a) hereof); and

    

    (i) Verify
      calculations, qualify or otherwise approve Company requests for distributions
      pursuant to Section 1(i), 2(a) or 2(b) above.

     

    5. No
      Right of Set-Off.
      The
      Trustee waives any right of set-off or any right, title, interest or claim
      of
      any kind that the Trustee may have against the Property held in the Trust
      Account. In the event the Trustee has a claim against the Company under this
      Agreement, including, without limitation, under Section 3(b), the Trustee will
      pursue such claim solely against the Company and not against the Property held
      in the Trust Account.

    

    6. Termination.
      This
      Agreement shall terminate as follows:

     

    (a) If
      the
      Trustee gives written notice to the Company that it desires to resign under
      this
      Agreement, the Company shall use its reasonable efforts to locate a successor
      trustee during which time the Trustee shall continue to act in accordance with
      the terms of this Agreement. At such time the Company notifies the Trustee
      that
      a successor trustee has been appointed by the Company and has agreed to become
      subject to the terms of this Agreement, the Trustee shall transfer the
      management of the Trust Account to the successor trustee, including, but not
      limited to, the transfer of copies of the reports and statements relating to
      the
      Trust Account, whereupon this Agreement shall terminate; provided, however,
      that, in the event the Company does not locate a successor trustee within ninety
      days of receipt of the resignation notice from the Trustee, the Trustee may,
      but
      shall not be obligated to, submit an application to have the Property deposited
      with the United States District Court for the Southern District of New York
      and
      upon such deposit, the Trustee shall be immune from any liability whatsoever
      that arises due to any actions or omissions to act by any party after such
      deposit; or

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (b) At
      such
      time that the Trustee has completed the liquidation of the Trust Account in
      accordance with the provisions of Section 1(j) hereof, and distributed the
      Property in accordance with the provisions of the Termination Letter, this
      Agreement shall terminate except with respect to Section 3(b).

    

    7. Miscellaneous.

     

    (a) The
      Company and the Trustee each acknowledge that the Trustee will follow the
      security procedures set forth below with respect to funds transferred from
      the
      Trust Account. Upon receipt of written instructions, the Trustee will confirm
      such instructions with an Authorized Individual at an Authorized Telephone
      Number listed on the attached Exhibit
      D;
      it
      being agreed that the contact information set forth on such exhibit may be
      modified from time to time by given written notice as provided for herein.
      The
      Company and the Trustee will each restrict access to confidential information
      relating to such security procedures to authorized persons. Each party must
      notify the other party immediately if it has reason to believe unauthorized
      persons may have obtained access to such information, or of any change in its
      authorized personnel. In executing funds transfers, the Trustee will rely upon
      account numbers or other identifying numbers of a beneficiary, beneficiary’s
      bank or intermediary bank, rather than names. The Trustee shall not be liable
      for any loss, liability or expense resulting from any error in an account number
      or other identifying number, provided it has accurately transmitted the
      identifying numbers provided.

    

    (b) This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York, without giving effect to conflict of laws
      principles that would result in the application of the substantive laws of
      another jurisdiction. It may be executed in several counterparts, each one
      of
      which shall constitute an original, and together shall constitute but one
      instrument. Facsimile or other electronic signatures shall constitute original
      signatures for all purposes of this Agreement.

    

    (c) This
      Agreement contains the entire agreement and understanding of the parties hereto
      with respect to the subject matter hereof. This Agreement or any provision
      hereof may only be changed, amended or modified by a writing signed by each
      of
      the parties hereto; provided,
      however,
      that no
      such change, amendment or modification may be made without the prior written
      consent of Chardan, who, along with each other Underwriter, the parties
      specifically agree, is and shall be a third party beneficiary for purposes
      of
      this Agreement. As to any claim, cross-claim or counterclaim in any way relating
      to this Agreement, each party waives the right to trial by jury.

    

    (d)
       The
      parties hereto consent to the jurisdiction and venue of any state or federal
      court located in the State and County of New York for purposes of resolving
      any
      disputes hereunder. The parties hereto irrevocably submit to such jurisdiction,
      which jurisdiction shall be exclusive, and hereby waive any objection to such
      exclusive jurisdiction and accept such venue, and waive any objection that
      such
      courts represent an inconvenient forum.

    

    (e)
       Any
      notice, consent or request to be given in connection with any of the terms
      or
      provisions of this Agreement shall be in writing and shall be sent by express
      mail or similar private courier service, by certified mail (return receipt
      requested), by hand delivery or by facsimile transmission:

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    if
      to the
      Trustee, to:

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn:
      

    Fax
      No.:
      [    
]

     

    if
      to the
      Company, to:

    

    Indas
      Green Acquisition Corporation

    Level
      30-31, Six Battery Road

    Raffles
      Place

    Singapore
      049909

    Attn:
      Ashish Wadhwani 

    Fax
      No:
      [     ]

    

    in
      either
      case with a copy to:

    

    Chardan
      Capital Markets, LLC

    17
      State
      Street, Suite 1600

    New
      York,
      NY 10004

    Attn:
      Kerry Propper

    Fax
      No:
      (646) 465-9039

     

    and

     

    Ellenoff,
      Grossman & Schole LLP

    150
      East
      42nd
      Street,
      11th
      Floor

    Attn:
      Stuart Neuhauser, Esq.

    Fax
      No.:
      (212) 370-7889

    

    and

    

    Mitchell
      S. Nussbaum, Esq.

    Loeb
      & Loeb LLP

    345
      Park
      Avenue

    New
      York,
      New York 10154

    Fax
      No:
      (212) 407-4990

    

    (f) This
      Agreement may not be assigned by the Trustee without the prior written consent
      of the Company and Chardan.

    

    (g)
       Each
      of
      the Trustee and the Company hereby represents that it has the full right and
      power and has been duly authorized to enter into this Agreement and to perform
      its respective obligations as contemplated hereunder. The Trustee acknowledges
      and agrees that it shall not make any claims or proceed against the Trust
      Account, including by way of set-off, and shall not be entitled to any funds
      in
      the Trust Account under any circumstance. The Trustee hereby consents to the
      inclusion of Continental Stock Transfer & Trust Company in the Registration
      Statement and other materials relating to the IPO.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    8.
       Third
      Party Beneficiaries.
      For so
      long as the proceed of the IPO and/or Private Placement are held in the Trust
      Account, the Representative on behalf of the Underwriters are third party
      beneficiaries with respect to this Agreement and shall be entitled to enforce
      the terms of this Agreement to the same extent as if they were parties to this
      Agreement. 

    

    IN
      WITNESS WHEREOF,
      the
      parties have duly executed this Investment Management Trust Agreement as of
      the
      date first written above.

     

    
      	 	
              CONTINENTAL STOCK TRANSFER & TRUST COMPANY,

              as Trustee

            
	 	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            
	 	 	 
	 	
              INDAS
                GREEN ACQUISITION CORPORATION

            
	 	 	 
	 	
              By:

            	 
	 	
              Name:
                Ashish Wadhwani

            
	 	
              Title:
                Chief Executive Officer

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place 

    New
      York,
      NY 10004

    Attn:
      

    Fax
      No.:
      [     ]]

    

    Re:
        Trust
      Account No. [ ] Termination Letter

     

    Gentlemen:

     

    Pursuant
      to Section 1(j) of the Investment Management Trust Agreement between
INDAS
      GREEN ACQUISITION CORPORATION
      (“Company”) and Continental Stock Transfer & Trust Company (“Trustee”),
      dated as of [     ], 2008 (“Trust
      Agreement”), this is to advise you that the Company has entered into an
      agreement (“Business Agreement”) with __________________ (“Target Business”) to
      consummate a business combination with Target Business (“Business Combination”)
      on or about [_______]. The Company shall notify you at least 48 hours in advance
      of the actual date of the consummation of the Business Combination
      (“Consummation Date”). Capitalized words used herein and not otherwise defined
      shall have the meanings ascribed to them in the Trust Agreement.

     

    In
      accordance with paragraph _____ of Article _ of the Amended and Restated
      Memorandum and Articles of Association of the Company, the Business Combination
      has been approved by the Shareholders of the Company and by the Public
      Shareholders holding a majority of the IPO Shares cast at the meeting relating
      to the Business Combination, and Public Shareholders holding less than 40%
      of
      the IPO Shares have voted against the Business Combination and given notice
      of
      exercise of their redemption rights described in paragraph __ of Article ____of
      the Amended and Restated Memorandum and Articles of Association of the Company.
      Pursuant to Section 3(f) of the Trust Agreement, we are providing you with
      [an
      affidavit] [a certificate] of __________, which verifies the vote of the
      Company’s Shareholders in connection with the Business Combination. In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      commence liquidation of the Trust Account to the effect that, on the
      Consummation Date, all of funds held in the Trust Account will be immediately
      available for transfer to the account or accounts that the Company shall direct
      in writing on the Consummation Date.

     

    On
      the
      Consummation Date (i) counsel for the Company shall deliver to you written
      notification that the Business Combination has been consummated or will,
      concurrently with your transfer of funds to the accounts as directed by the
      Company, be consummated, and (ii) the Company shall deliver to you written
      instructions with respect to the transfer of the funds held in the Trust Account
      (“Instruction Letter”). You are hereby directed and authorized to transfer the
      funds held in the Trust Account immediately upon your receipt of the counsel’s
      letter and the Instruction Letter in accordance with the terms of the
      Instruction Letter. In the event that certain deposits held in the Trust Account
      may not be liquidated by the Consummation Date without penalty, you will notify
      the Company of the same and the Company shall direct you as to whether such
      funds should remain in the Trust Account and be distributed after the
      Consummation Date to the Company or be distributed immediately and the penalty
      incurred. Upon the distribution of all the funds in the Trust Account pursuant
      to the terms hereof, the Trust Agreement shall be terminated.

     

    In
      the
      event that the Business Combination is not consummated on the Consummation
      Date
      described in the notice thereof and we have not notified you on or before the
      original Consummation Date of a new Consummation Date, then the funds held
      in
      the Trust Account shall be reinvested as provided in the Trust Agreement on
      the
      business day immediately following the Consummation Date as set forth in the
      notice.

     

    
      
        	 	
                Very
                  truly yours,

              
	 	 	 
	 	
                INDAS
                  GREEN ACQUISITION CORPORATION

              
	 	 	 
	 	
                BBy:

              	 
	 	
                Name:
                  Ashish Wadhwani

              
	 	
                Title:
                  Chief Executive Officer

              

      
 

    cc:
      Chardan Capital Markets

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place 

    New
      York,
      NY 10004

    New
      York,
      NY 10038

    Attn:
      

    Fax
      No.:
      [     ]]

     

    Re:
        Trust
      Account No. [ ] Termination Letter

     

    Gentlemen:

     

    Pursuant
      to paragraph 1(j) of the Investment Management Trust Agreement between
INDAS
      GREEN ACQUISITION CORPORATION
      (“Company”) and Continental Stock Transfer & Trust Company (“Trustee”),
      dated as of [     ], 2008 (“Trust
      Agreement”), this is to advise you that the Company has been unable to
      effect a Business Combination (as defined in the Trust Agreement) with a target
      company within the time frame specified in the Amended and Restated Memorandum
      and Articles of Association of the Company, as described in the Company’s
      prospectus relating to its initial public offering.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      commence liquidation of the Trust Account as promptly as practicable to the
      Shareholders of record on the Termination Date or Extended Date (as defined
      in
      the Trust Agreement). The Company will establish a record date for the purposes
      of determining the Shareholders entitled to receive their share of liquidation
      proceeds. The record date shall be within ten (10) days of the date of this
      letter or as soon as thereafter is reasonably practicable and legally
      permissible. You will notify the Company in writing as to when all of the
      funds in the Trust Account will be available for immediate transfer (“Transfer
      Date”) in accordance with the terms of the Trust Agreement and the Amended and
      Restated Memorandum and Articles of Association of the Company. You shall
      commence distribution of such funds in accordance with the terms of the Trust
      Agreement and the Amended and Restated Memorandum and Articles of Association
      of
      the Company and you shall oversee the distribution of such funds. Upon the
      payment of all the funds in the Trust Account, your obligations under the Trust
      Agreement shall be terminated.

    

      
        	 	
                Very
                  truly yours,

              
	 	 	 
	 	
                INDAS
                  GREEN ACQUISITION CORPORATION

              
	 	 	 
	 	
                By:

              	
                 

              
	 	
                Name:
                  Ashish Wadhwani

              
	 	
                Title:
                  Chief Executive Officer

              

      

    

     

    cc:
      Chardan Capital Markets 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      C

    

    
      	
              AUTHORIZED
                INDIVIDUAL(S)

              FOR
                TELEPHONE CALL BACK

            	
               

            	
              AUTHORIZED

              TELEPHONE
                NUMBER(S)

            
	
               

            	
               

            	
               

            
	
              Company:

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Indas
                Green Acquisition Corporation

              Level
                30-31, Six Battery Road

              Raffles
                Place

              Singapore
                049909

              Tel
                : +65 63208360 

              Attn:
                Ashish Wadhwani 

              Fax:
                +65 [     ]

            	
               

            	
                

            
	
               

            	
               

            	
               

            
	
              Representative:

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Chardan
                Capital Markets, LLC

              17
                State Street, Suite 1600

              New
                York, New York 10004

              Attn:
                Kerry Propper

              Fax
                No: (___) ___-____

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Trustee:

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Continental
                Stock Transfer & Trust Company

              17
                Battery Place 

              New
                York, NY 10004

              Attn:
                

              Fax
                No.: [     ]

            	
               

            	
               [(
                ) - ]

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      A

    

    Schedule
      of fees pursuant to Section 3(c) of Investment Management Trust
      Agreement

    between
      INDAS
      GREEN ACQUISITION CORPORATION
      and

    Continental
      Stock Transfer & Trust Company

    

    
      	
              Fee
                Item

            	 	
              Time
                and method of payment 

            	 	
              Amount

            	 
	
              Initial
                acceptance fee

            	 	 	
              Initial
                closing of IPO by wire transfer 

            	 	$ 	
              [    
                

            	
              ]

            
	
              Annual
                fee

            	 	 	
              First
                year, initial closing of IPO by wire transfer; thereafter on the
                anniversary of the effective date of the IPO by wire transfer or
                check

            	 	$	
              [    
                

            	
              ]

            
	
              Transaction
                processing fee for disbursements to Company under Sections 2(a) and
                2(b)

            	 	 	
              Deduction
                by Trustee from disbursement made to Company under Section
                2(b)

            	
               

            	$	
              [    
                

            	
              ]

            

    

    

    
      	 	
              Agreed:

            
	
              Dated:
                [            ],
                2008

            	 	 
	 	
              INDAS
                GREEN ACQUISITION CORPORATION

            
	 	 	 
	 	
              By:

            	 
	 	
              Name:
                Ashish Wadhwani

            
	 	
              Title:
                Chief Executive Officer 

            
	 	 	 
	 	
              CONTINENTAL
                STOCK TRANSFER & TRUST CO.

            
	 	 	 
	 	
              By:

            	 
	 	
              Authorized
                Officer

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