This Token Purchase Agreement (this "Agreement") contains the terms and conditions that govern your use of the JOYGaming distribution smart contract (the "JOYGaming Distribution Contract"); use of the related JOYGaming token smart contract (the "JOYGaming Token Contract"); and purchase of the related compatible tokens distributed on the Ethereum blockchain (the "JOYGaming Tokens") and is an agreement between you or the entity that you represent ("Buyer" or "you") and JOYGaming Limited ("JOYGaming," together with its parent company, subsidiaries and affiliates, "Company"). Buyer, JOYGaming Limited and Company are herein referred to individually as a "Party" and collectively, as the "Parties".
NOW, THEREFORE, in consideration of the mutual representations, warranties and agreements contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Company and Buyer hereby agree as follows:
IMPORTANT INFORMATION: PLEASE READ THIS AGREEMENT CAREFULLY AND IN ITS ENTIRETY.
Buyer acknowledges, understands and agrees to the following:
BINDING AGREEMENT: Buyer understands and agrees that Buyer is subject to and bound by this Agreement by virtue of Buyer's purchase of JOYGaming Tokens.
NO CHINESE BUYERS: JOYGaming Tokens are not being offered or distributed to Chinese persons (as defined below). If you are citizen, resident of, or a person located or domiciled in, or any entity, including, without limitation, any corporation or partnership created or organized in or under the laws of the People's Republic of China (a "Chinese person"), do not purchase or attempt to purchase JOYGaming Tokens.
RIGHTS, USES AND ATTRIBUTES OF JOYGaming TOKENS: Buyer is purchasing JOYGaming Tokens to potentially receive Services in, and utilise, the Ecosystem at a future point in time. Buyer is not purchasing JOYGaming Tokens for any other uses or purposes, including, but not limited to, any investment, speculative or other financial purposes; Buyer acknowledges, understands and agrees that Buyer should not expect and there is no guarantee or representation made by Company that Buyer will receive any other product, service, rights, attributes, functionalities, features or assets of any kind whatsoever, including, without limitation, any cryptographic tokens or digital assets now or in the future whether through receipt, exchange, conversion, redemption or otherwise.PURCHASE OF JOYGaming TOKENS ARE NON-REFUNDABLE AND PURCHASES CANNOT BE CANCELLED. BUYER MAY LOSE ALL AMOUNTS PAID.
ARTICLE ONE: ACCEPTANCE OF AGREEMENT AND PURCHASE OF JOYGaming TOKENS
1.1. This Agreement shall be effective and binding on the Parties when Buyer:
(a) clicks the "submit" button on the official https://joygaming.io website (the "Website") to indicate that Buyer has read, understands and agrees to the terms of this Agreement; or, if earlier
(b) upon Company's receipt of payment from Buyer. Buyer agrees to be bound on this basis, and confirms that Buyer has read in full and understands this Agreement and the terms on which Buyer is bound.
1.3. White Paper: Company has prepared the White Paper, which is available at https://joygaming.io describing matters relating to the JOYGaming Software. The White Paper, as it may be amended from time to time, is hereby incorporated by reference. Buyer has read and understands the White Paper and its contents.
1.4. JOYGaming Tokens:
a) Purpose: As mentioned above, purchase of the JOYGaming Tokens will allow Buyer the opportunity to receive Services in, and use, the Ecosystem at a future point in time. Although JOYGaming Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security or commodity or any other kind of financial instrument.
b) Company's Use of Proceeds: Buyer acknowledges and understands that the proceeds from the sale of the JOYGaming Tokens will be utilised by Company in its sole discretion.
2.1. Allocation and Distribution of JOYGaming Token: JOYGaming Limited intends to allocate and distribute JOYGaming Tokens (the "JOYGaming Token Distribution") in accordance with the material specifications as set forth in Exhibit A to this Agreement which includes details regarding the timing (the "JOYGaming Distribution Period") and pricing of the JOYGaming Token Distribution and the amount of JOYGaming Tokens that will be distributed. During the JOYGaming Distribution Period, JOYGaming Limited will provide specific procedures on how Buyer should purchase JOYGaming Tokens through the official Website. By purchasing JOYGaming Tokens, Buyer acknowledges and understands and has no objection to such procedures and material specifications. Failure to use the official Website and follow such procedures may result in Buyer not receiving any JOYGaming Tokens. Any buyer of JOYGaming Tokens may lose some or all of the amounts paid in exchange for JOYGaming Tokens, regardless of the purchase date. The access or use of the JOYGaming Distribution Contract, access or use of the JOYGaming Token Contract and/or the receipt or purchase of JOYGaming through any other means other than the official Website are not sanctioned or agreed to in any way by the Parties. Buyer should take great care that the website used to purchase JOYGaming Tokens has the following universal resource locator (URL):https://joygaming.io.
2.2. No Chinese Buyers: The JOYGaming Tokens are not being offered to Chinese persons. Chinese persons are strictly prohibited and restricted from using the JOYGaming Distribution Contract, using the JOYGaming Token Contact and/or purchasing JOYGaming Tokens and Company is not soliciting purchases by Chinese persons in any way. If a Chinese person uses the JOYGaming Distribution Contract, uses the JOYGaming Token Contract and/or purchases JOYGaming Tokens, such person has done so and entered into this Agreement on an unlawful, unauthorized and fraudulent basis and this Agreement is null and void. Company is not bound by this Agreement if this Agreement has been entered into by a Chinese person as Buyer or Buyer has entered into this Agreement or has purchased JOYGaming Tokens on behalf of Chinese person, and Company may take all necessary and appropriate actions, in its sole discretion, to invalidate this Agreement, including referral of information to the appropriate authorities. Any Chinese person who uses the JOYGaming Distribution Contract, uses the JOYGaming Token Contract and/or purchases JOYGaming Tokens or enters this Agreement on an unlawful, unauthorized or fraudulent basis shall be solely liable for, and shall indemnify, defend and hold harmless JOYGaming Limited and JOYGaming Limited's respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (collectively, the "JOYGaming Limited Parties") from any damages, losses, liabilities, costs or expenses of any kind, whether direct or indirect, consequential, compensatory, incidental, actual, exemplary, punitive or special and including, without limitation, any loss of business, revenues, profits, data, use, goodwill or other intangible losses (collectively, the "Damages") incurred by a JOYGaming Limited Party that arises from or is a result of such Chinese person's unlawful, unauthorized or fraudulent use of the JOYGaming Distribution Contract, unauthorized use of the JOYGaming Token Contract and/or the receipt or purchase of JOYGaming Tokens.
2.3. Allocation and Sale of JOYGaming Tokens to JOYGaming Limited Parties: Buyer understands and consents to the participation of the Company's past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors and service providers in the purchase of JOYGaming Tokens, including people who may work on the development and implementation of the JOYGaming Software or who may work for JOYGaming Limited's future businesses which JOYGaming Limited may establish with a portion of the proceeds from the JOYGaming Token Distribution. All such JOYGaming Limited Parties will participate on the same terms as every other buyer of JOYGaming Tokens and will be bound by this Agreement.
2.4. No Representations and Warranties: The JOYGaming Tokens will be distributed to buyers thereof pursuant to the JOYGaming Distribution Contract and the JOYGaming Token Contract. None of the JOYGaming Limited Parties makes any representations or warranties, express or implied, including, without limitation, any warranties of title or implied warranties of merchantability or fitness for a particular purpose with respect to the JOYGaming Distribution Contract, the JOYGaming Token Contract or the JOYGaming Tokens or their utility, or the ability of anyone to purchase or use the JOYGaming Tokens. Without limiting the foregoing, none of the JOYGaming Limited Parties represent or warrant that the process of purchasing the JOYGaming Tokens or receiving the JOYGaming Tokens will be uninterrupted or error-free or that the JOYGaming Tokens are reliable and error-free. As a result, Buyer acknowledges and understands that Buyer may never receive JOYGaming Tokens and may lose the entire amount Buyer paid to Company. Buyer shall provide an accurate digital wallet address to Company for receipt of any JOYGaming Tokens distributed to Buyer pursuant to the JOYGaming Distribution Contract and the JOYGaming Token Contract.
2.5. Not an Offering of Securities, Commodities, or Swaps: The sale of JOYGaming Tokens and the JOYGaming Tokens themselves are not securities, commodities, swaps on either securities or commodities or a financial instrument of any kind. Purchases and sales of JOYGaming Tokens are not subject to the protections of any laws governing those types of financial instruments. This Agreement and all other documents referred to in this Agreement including the White Paper do not constitute a prospectus or offering document, and are not an offer to sell, nor the solicitation of an offer to buy an investment, a security, commodity, or a swap on either a security or commodity.
2.6. Not an Investment: Buyer should not participate in the JOYGaming Token Distribution or purchase JOYGaming Tokens for investment purposes. JOYGaming Tokens are not designed for investment purposes and should not be considered as a type of investment. Buyer acknowledges, understands and agrees that Buyer should not expect and there is no guarantee or representation or warranty by Company that:
Furthermore, JOYGaming Tokens will simply entitle Buyer to access and use the JOYGaming Platform and holding JOYGaming Tokens is not a guarantee, representation or warranty that the holder will be able to use the JOYGaming Platform without interruption JOYGaming even if the JOYGaming Platform is launched and the JOYGaming Software is adopted, of which there is no guarantee, representation or warranty made by Company.
2.7. Not for Speculation: Buyer acknowledges and agrees that Buyer is not purchasing JOYGaming Tokens for purposes of investment, speculation, as some type of arbitrage strategy, for immediate resale or other financial purposes.
3.1. No Claim, Loan or Ownership Interest: The purchase of JOYGaming Tokens:
3.2. Intellectual Property: Company retains all right, title and interest in all of Company's intellectual property, including, without limitation, inventions, ideas, concepts, code, discoveries, processes, marks, methods, software, compositions, formulas, techniques, information and data, whether or not patentable, copyrightable or protectable in trademark, and any trademarks, copyright or patents based thereon. Buyer may not use any of Company's intellectual property for any reason without Company's prior written consent.
4.1. Security and Data Privacy:
In the event that Buyer is no longer in possession of Buyer's private keys or any device associated with Buyer's account or is not able to provide Buyer's login or identifying credentials, Buyer may lose all of Buyer's JOYGaming Tokens and/or access to Buyer's account. Company is under no obligation to recover any JOYGaming Tokens and Buyer acknowledges, understands and agrees that all purchases of
JOYGaming Tokens are non-refundable and Buyer will not receive money or other compensation for any JOYGaming Tokens purchased.
4.2. Taxes: Buyer acknowledges, understands and agrees that:
ARTICLE FIVE: REPRESENTATIONS AND WARRANTIES OF BUYER
By buying JOYGaming Tokens, Buyer represents and warrants to each of the JOYGaming Limited Parties that:
5.1. Not a Chinese Person: Buyer is not a Chinese person.
5..2. Authority : Buyer has all requisite power and authority to execute and deliver this Agreement, to use the JOYGaming Distribution Contract and the JOYGaming Smart Contract, purchase JOYGaming Tokens, and to carry out and perform its obligations under this Agreement:
5.3. No Conflict : The execution, delivery and performance of this Agreement will not result in any violation of, be in conflict with, or constitute a material default under, with or without the passage of time or the giving of notice:
5.4. No Consents or Approvals: The execution and delivery of, and performance under, this Agreement require no approval or other action from any governmental authority or person other than Buyer.
5.5. Buyer Status : Buyer is not subject to any of the disqualifying events listed in Rule 506(d)(1) of Regulation D under the U.S. Securities Act of 1933 (a "Buyer Event"), and there is no proceeding or investigation pending or, to the knowledge of Buyer, threatened by any governmental authority, that would reasonably be expected to become the basis for a Buyer Event.
5.6. Buyer Knowledge and Risks of Project: Buyer has sufficient knowledge and experience in business and financial matters, including a sufficient understanding of blockchain or cryptographic tokens and other digital assets, smart contracts, storage mechanisms (such as digital or token wallets), blockchain-based software systems and blockchain technology, to be able to evaluate the risks and merits of Buyer's purchase of JOYGaming Tokens, including but not limited, to the matters set forth in this Agreement, and is able to bear the risks thereof, including loss of all amounts paid, loss of JOYGaming Tokens, and liability to the JOYGaming Limited Parties and others for its acts and omissions, including with limitation those constituting breach of this Agreement, negligence, fraud or willful misconduct. Buyer has obtained sufficient information in order to make an informed decision to purchase JOYGaming Tokens.
5.7. Funds; Payments.
5.8. Miscellaneous Regulatory Compliance:
ARTICLE SIX: DISCLAIMERS
6.1. Buyer expressly acknowledges, understands and agrees that Buyer is using the JOYGaming Distribution Contract, the JOYGaming Token Contract and purchasing JOYGaming Tokens at the Buyer's sole risk and that the JOYGaming Distribution Contract, the JOYGaming Token Contract and JOYGaming Tokens are each provided, used and acquired on an "AS
IS" and on an "AS AVAILABLE" basis without representations, warranties, promises or guarantees whatsoever of any kind by Company and Buyer shall rely on its own examination and investigation thereof.
6.2. No Representation or Warranty : (A) COMPANY DOES NOT MAKE AND EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED OR STATUTORY; AND (B) WITH RESPECT TO THE JOYGaming DISTRIBUTION CONTRACT, THE JOYGaming TOKEN CONTRACT AND THE JOYGaming TOKENS, COMPANY SPECIFICALLY DOES NOT REPRESENT AND WARRANT AND EXPRESSLY DISCLAIMS ANY REPRESENTATION OR WARRANTY, EXPRESS, IMPLIED OR STATUTORY, INCLUDING WITHOUT LIMITATION, ANY REPRESENTATIONS OR WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, USAGE, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, OR AS TO THE WORKMANSHIP OR TECHNICAL CODING THEREOF, OR THE ABSENCE OF ANY DEFECTS THEREIN, WHETHER LATENT OR PATENT.
ARTICLE SEVEN: RISKS
JOYGaming TOKENS MAY HAVE NO VALUE. BUYER MAY LOSE ALL AMOUNTS PAID. Buyer has carefully reviewed, acknowledges, understands and assumes the following risks, as well as all other risks associated with the JOYGaming Tokens (including those not discussed herein), all of which could render the JOYGaming Tokens worthless or of little value:
7.1. Rights, Functionality and Features: JOYGaming Tokens have no rights, uses, purpose, attributes, functionalities or features, express or implied, other than those set out in clause 1.4 of this Agreement. Purchase of JOYGaming Tokens does not guarantee that the JOYGaming Platform will be launched, that the JOYGaming Software's development will be finished or that the JOYGaming Software will be adopted and implemented.
7.2. Purchase Price Risk: The distribution of JOYGaming Tokens will occur at the end of each set period during the JOYGaming Distribution Period. The purchase price which each Buyer pays for JOYGaming Tokens depends upon the actions of all other users sending ether ("ETH") to the JOYGaming Token Contract during the same period. Everyone sending ETH during the same period receives the same price. It is possible for other people to send in a large amount of ETH after Buyer and dramatically increase the price Buyer and everyone else pays per JOYGaming Token received. There are no guarantees as to the price of JOYGaming Tokens purchased by Buyer and no guarantees that the price per JOYGaming Token determined each period by the market will be equal to or higher in the subsequent periods of the JOYGaming Distribution Period. There is the possibility that the price per JOYGaming Token in subsequent periods of the JOYGaming Distribution Period falls below the price paid by initial buyers of JOYGaming Tokens during the JOYGaming Distribution Period. JOYGaming Limited reserves the right to change the duration of the JOYGaming Distribution Period for any reason, including, without limitation, bugs in the JOYGaming Distribution Contract or the JOYGaming Token Contract or the unavailability of the Website or other unforeseen procedural or security issues.
7.3. Blockchain Delay Risk: On the Ethereum blockchain, timing of block production is determined by proof of work so block production can occur at random times. For example, ETH contributed to the JOYGaming Smart Contract in the final seconds of a distribution period may not get included for that period. Buyer acknowledges and understands that the Ethereum blockchain may not include the Buyer's transaction at the time Buyer expects and Buyer may not receive JOYGaming Tokens the same day Buyer sends ETH.
7.4. Ethereum Blockchain : The Ethereum blockchain is prone to periodic congestion during which transactions can be delayed or lost. Individuals may also intentionally spam the Ethereum network in an attempt to gain an advantage in purchasing cryptographic tokens. Buyer acknowledges and understands that Ethereum block producers may not include Buyer's transaction when Buyer wants or Buyer's transaction may not be included at all.
7.5. Ability to Transact or Resell : Buyer may be unable to sell or otherwise transact in JOYGaming Tokens at any time, or for the price Buyer paid. By using the JOYGaming Distribution Contract or the JOYGaming Token Contract or by purchasing JOYGaming Tokens, Buyer acknowledges, understands and agrees that:
7.6. Token Security : JOYGaming Tokens may be subject to expropriation and or/theft. Hackers or other malicious groups or organizations may attempt to interfere with the JOYGaming Distribution Contract, the JOYGaming Token Contract or the JOYGaming Tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, because the Ethereum platform rests on open source software and JOYGaming Tokens are based on open source software, there is the risk that Ethereum smart contracts may contain intentional or unintentional bugs or weaknesses which may negatively affect the JOYGaming Tokens or result in the loss of Buyer's JOYGaming Tokens, the loss of Buyer's ability to access or control Buyer's JOYGaming Tokens or the loss of ETH in Buyer's account. In the event of such a software bug or weakness, there may be no remedy and holders of JOYGaming Tokens are not guaranteed any remedy, refund or compensation.
7.7. Access to Private Keys : JOYGaming Tokens purchased by Buyer may be held by Buyer in Buyer's digital wallet or vault, which requires a private key, or a combination of private keys, for access. Accordingly, loss of requisite private key(s) associated with Buyer's digital wallet or vault storing JOYGaming Tokens will result in loss of such JOYGaming Tokens, access to Buyer's JOYGaming Token balance and/or any initial balances in blockchains created by third parties. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet or vault service Buyer uses, may be able to misappropriate Buyer's JOYGaming Tokens. Company is not responsible for any such losses.
7.8. New Technology: The JOYGaming Software and the JOYGaming Platform and all of the matters set forth in the White Paper are new and untested. The JOYGaming Software might not be capable of completion, implementation or adoption. It is possible that no blockchain utilising the JOYGaming Software will be ever be launched and there may never be an operational JOYGaming Platform. Buyer should not rely on the JOYGaming Software or the ability to receive tokens associated with the JOYGaming Platform in the future. Even if the JOYGaming Software is completed, implemented and adopted, it might not function as intended, and any tokens associated with a blockchain adopting the JOYGaming Software may not have functionality that is desirable or valuable. Also, technology is changing rapidly, so the JOYGaming Tokens and any tokens transferable on the JOYGaming Platform may become outdated.
7.9. Reliance on Third-Parties: Even if completed, the JOYGaming Software will rely, in whole or partly, on third parties to adopt and implement it and to continue to develop, supply, and otherwise support it. There is no assurance or guarantee that those third parties will complete their work, properly carry out their obligations, or otherwise meet anyone's needs, all of which might have a material adverse effect on the JOYGaming Software and JOYGaming Platform.
7.10. Failure to Map a Public Key to Buyer 's Account : Failure of Buyer to map a public key to Buyer's account may result in third parties being unable to recognize Buyer's JOYGaming Token balance on the Ethereum blockchain when and if they configure the initial balances of a new blockchain based upon the JOYGaming Software of which Company makes no representation or guarantee.
7.11. Exchange & Counterparty Risks: If Buyer sends ETH to the JOYGaming Token Contract from an exchange or an account that Buyer does not control, pursuant to the JOYGaming Token Contract, JOYGaming Tokens will be allocated to the account that has sent ETH; therefore, Buyer may never receive or be able to recover Buyer's JOYGaming Tokens. Furthermore, if Buyer chooses to maintain or hold JOYGaming Tokens through a cryptocurrency exchange or other third party, Buyer's JOYGaming Tokens may be stolen or lost. In addition, third parties may not recognize Buyer's claim to any derivative tokens if and when launched by third parties according to the distribution rules set in the JOYGaming Software. By using the JOYGaming Distribution Contract, using the JOYGaming Token Contract and/or by purchasing JOYGaming Tokens, Buyer acknowledges and agrees that Buyer sends ETH to the JOYGaming Token Contract through an exchange account and/or holds JOYGaming Tokens on a cryptocurrency exchange or with another third party at Buyer's own and sole risk.
7.12. Changes to the JOYGaming Software : The JOYGaming Software is still under development and may undergo significant changes over time. Although Company intends for the JOYGaming Software to have the features and specifications set forth in the White Paper, Company may make changes to such features and specifications for any number of reasons, and any party that adopts the JOYGaming Software and launches the JOYGaming Platform also may make changes, any of which may mean that the JOYGaming Platform does not meet Buyer's expectations.
7.13. Risk of Alternative Blockchains based o n JOYGaming Software: The JOYGaming Software will not likely be licensed under an open source license until after the end of the JOYGaming Distribution Period; however, it is possible somebody will not respect the JOYGaming Software copyright or will modify the JOYGaming Software after it has been released under an open source license. Therefore, it is possible for someone to utilize the JOYGaming Software to build and launch blockchain protocols using a token distribution other than the one intended for the JOYGaming Tokens pursuant to the JOYGaming Software both prior to or after the JOYGaming Software has become licensed as open source.
7.14. Risk of Lack of Transferability in Blockchain Cryptographic Token : The JOYGaming Software is built such that any blockchain that adopts the JOYGaming Software will require approval of holders of not less than 15% of the total issued and outstanding JOYGaming Tokens before tokens on such blockchain (the "Blockchain Tokens") can be transferred. In other words, if the JOYGaming Software is adopted, it will be the responsibility of holders holding at least 15% of the issued and outstanding JOYGaming Tokens to adopt one or more blockchains in order for Blockchain Tokens received on such blockchains to be transferrable. Buyer acknowledges, understands and agrees that if the JOYGaming Software is adopted and the requisite vote described above is not obtained, Buyer may not be able to transfer any Blockchain Tokens Buyer receives.
7.15. Project Completion: The development of the JOYGaming Software may be abandoned for a number of reasons, including, but not limited to, lack of interest from the public, lack of funding, lack of commercial success or prospects, or departure of key personnel.
7.16. Lack of Interest: Even if the JOYGaming Software is finished and adopted and the JOYGaming Platform is launched, the ongoing success of the JOYGaming Platform relies on the interest and participation of third parties like developers. There can be no assurance or guarantee that there will be sufficient interest or participation in the JOYGaming Platform.
7.17. Uncertain Regulatory Framework: The regulatory status of cryptographic tokens, digital assets and blockchain technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether governmental authorities will regulate such technologies. It is likewise difficult to predict how or whether any governmental authority may make changes to existing laws, regulations and/or rules that will affect cryptographic tokens, digital assets, blockchain technology and its applications. Such changes could negatively impact JOYGaming Tokens in various ways, including, for example, through a determination that JOYGaming Tokens are regulated financial instruments that require registration. Company may cease the distribution of JOYGaming Tokens, the development of the JOYGaming Software or cease operations in a jurisdiction in the event that governmental actions make it unlawful or commercially undesirable to continue to do so.
7.18. Risk of Government Action : As noted above, the industry in which Company operates is new, and may be subject to heightened oversight and scrutiny, including investigations or enforcement actions. There can be no assurance that governmental authorities will not examine the operations of Company and/or pursue enforcement actions against Company. Such governmental activities may or may not be the result of targeting Company in particular. All of this may subject Company to judgments, settlements, fines or penalties, or cause Company to restructure its operations and activities or to cease offering certain products or services, all of which could harm Company's reputation or lead to higher operational costs, which may in turn have a material adverse effect on the JOYGaming Tokens and/or the development of the JOYGaming Software.
ARTICLE EIGHT: LIMITATION OF LIABILITY; INDEMNIFICATION
8.1. Limitation of Liability: To the fullest extent permitted by applicable law, Buyer disclaims any right or cause of action against the JOYGaming Limited Parties of any kind in any jurisdiction that would give rise to any Damages whatsoever, on the part of any JOYGaming Limited Party. Each of the JOYGaming Limited Parties shall not be liable to Buyer for any type of Damages, even if and notwithstanding the extent a JOYGaming Limited Party has been advised of the possibility of such Damages. Buyer agrees not to seek any refund, compensation or reimbursement from a JOYGaming Limited Party, regardless of the reason, and regardless of whether the reason is identified in this Agreement.
8.2. Damages: In no circumstances will the aggregate joint liability of the JOYGaming Limited Parties, whether in contract, warrant, tort or other theory, for Damages to Buyer under this Agreement exceed the amount received by Company from Buyer.
8.3. Force Majeure : Buyer understands and agrees that Company shall not be liable and disclaims all liability to Buyer in connection with any force majeure event, including acts of God, labor disputes or other industrial disturbances, electrical, telecommunications, hardware, software or other utility failures, software or smart contract bugs or weaknesses, earthquakes, storms, or other nature-related events, blockages, embargoes, riots, acts or orders of government, acts of terrorism or war, technological change, changes in interest rates or other monetary conditions, and, for the avoidance of doubt, changes to any blockchain-related protocol.
8.4. Release: To the fullest extent permitted by applicable law, Buyer releases the JOYGaming Limited Parties from responsibility, liability, claims, demands, and/or Damages (actual and consequential) of every kind and nature, known and unknown (including, but not limited to, claims of negligence), arising out of or related to disputes between Buyer and the acts or omissions of third parties.
ARTICLE NINE: DISPUTE RESOLUTION
9.1. Informal Dispute Resolution: Buyer and Company shall cooperate in good faith to resolve any dispute, controversy or claim arising out of, relating to or in connection with this Agreement, including with respect to the formation, applicability, breach, termination, validity or enforceability thereof (a "Dispute"). If the Parties are unable to resolve a Dispute within ninety (90) days of notice of such Dispute being received by all Parties, such Dispute shall be finally settled by Binding Arbitration as defined in Section 9.2 below.
9.2. Binding Arbitration: Any Dispute not resolved within 90 days as set forth in Section 9.1 shall be referred to and finally resolved by arbitration under the London Court of International Arbitration (LCIA) rules in effect at the time of the arbitration, except as they may be modified herein or by mutual agreement of the Parties. The number of arbitrators shall be one who shall be selected by Company. The seat, or legal place, of arbitration shall be London, England. The language to be used in the arbitral proceedings shall be English. The governing law of the Agreement shall be as set forth in Section 10.1 herein. The arbitration award shall be final and binding on the Parties ("Binding Arbitration"). The Parties undertake to carry out any award without delay and waive their right to any form of recourse insofar as such waiver can validly be made. Judgment upon the award may be entered by any court having jurisdiction thereof or having jurisdiction over the relevant Party or its assets. Company and Buyer will each pay their respective attorneys' fees and expenses. Notwithstanding the foregoing, Company reserves the right, in its sole and exclusive discretion, to assume responsibility for any or all of the costs of the arbitration.
9.3. No Class Arbitrations, Class Actions or Representative Actions: Any dispute arising out of or related to this Agreement is personal to Buyer and Company and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an individual attempts to resolve a dispute as a representative of another individual or group of individuals. Further, a dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.
ARTICLE TEN: MISCELLANEOUS
10.1. Governing Law and Venue: This Agreement shall be governed in all respects, including as to validity, interpretation and effect, by the laws of the Belize without giving effect to its principles or rules of conflict of laws, to the extent such principles or rules are not mandatorily applicable by statute and would permit or require the application of the laws of another jurisdiction.
10.2. Assignment: Buyer shall not assign this Agreement without the prior written consent of JOYGaming Limited. Any assignment or transfer in violation of this Section 10.2 will be void. Company may assign this Agreement to an affiliate. Subject to the foregoing, this Agreement, and the rights and obligations of the Parties hereunder, will be binding upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives.
10.3. Entire Agreement: This Agreement, including the exhibits attached hereto and the materials incorporated herein by reference, constitutes the entire agreement between the Parties and supersedes all prior or contemporaneous agreements and understandings, both written and oral, between the Parties with respect to the subject matter hereof, including, without limitation, any public or other statements or presentations made by any JOYGaming Limited Party about the JOYGaming Tokens, the JOYGaming Software, the JOYGaming Platform, Blockchain Tokens or any other tokens on the JOYGaming Platform.
10.4. Severability: If any provision of this Agreement is determined by a court of competent jurisdiction to be invalid, inoperative or unenforceable for any reason, the provision shall be modified to make it valid and, to the extent possible, effectuate the original intent of the Parties as closely as possible in an acceptable manner in order that the
transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.
10.5. Modification of Agreement: Company may modify this Agreement at any time by posting a revised version on the Website, available at https://joygaming.io. The modified terms will become effective upon posting. It is Buyer's responsibility to check the Website regularly for modifications to this Agreement. This Agreement was last modified on the date listed at the beginning of this Agreement.
10.6. Termination of Agreement; Survival: This Agreement will terminate upon the completion of all sales in the JOYGaming Token Distribution. Company reserves the right to terminate this Agreement, in its sole discretion, in the event that Buyer breaches this Agreement. Upon termination of this Agreement:
10.7. No Waivers: The failure by Company to exercise or enforce any right or provision of this Agreement will not constitute a present or future waiver of such right or provision nor limit Company's right to enforce such right or provision at a later time. All waivers by Company must be unequivocal and in writing to be effective.
10.8. No Partnership; No Agency; No Third Party Beneficiaries: Nothing in this Agreement and no action taken by the Parties shall constitute, or be deemed to constitute, a partnership, association, joint venture or other co-operative entity between the Parties. Nothing in this Agreement and no action taken by the Parties pursuant to this Agreement shall constitute, or be deemed to constitute, either Party the agent of the other Party for any purpose. No Party has, pursuant to this Agreement, any authority or power to bind or to contract in the name of the other Party. This Agreement does not create any third party beneficiary rights in any person.
10.9. Electronic Communications: Buyer agrees and acknowledges that all agreements, notices, disclosures and other communications that Company provides Buyer pursuant to this Agreement or in connection with or related to Buyer's purchase of JOYGaming Tokens, including this Agreement, may be provided by Company, in its sole discretion, to Buyer, in electronic form.
The JOYGaming Token Distribution will take place over 31 days starting on 20th Mar 2018 at 2pm UTC. This time might be subjected to change.
350,000,000 JOYGaming Tokens will be distributed according to the schedule below:
140,000,000 JOYGaming Tokens sold during the presale period will be distributed during the JOYGaming Token Distribution.
Unsold tokens from previous rounds will be moved into the next round. The token sale will automatically go to the next round when tokens are sold out in the prior round.
All Unsold Tokens from the 350,000,00 JOYGaming Tokens pool at the end of the JOYGaming Token Distribution will be locked up for one year. If an JOYGaming Platform adopting the JOYGaming Software is launched, the default JOYGaming Software configuration developed by JOYGaming Limited will lock new founders tokens distributed pursuant to such JOYGaming Platform in a smart contract and release such tokens to JOYGaming Limited on a monthly basis over a two year period. The JOYGaming Software configuration of the JOYGaming Platform will be ultimately determined by a third party who initializes a genesis block and starts the JOYGaming Platform.
This document does not constitute legal advice and should not be relied on by any person. It is designed for general informational purposes only. Developers, purchasers, investors and any other participant in a token system should consult their own counsel.