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PLEASE READ THESE TERMS AND CONDITIONS OF TOKEN SALE AND USE CAREFULLY BEFORE ACCESSING THE WEBSITE LOCATED AT https://elektrik.network/ OR THE ELEKTRIK PLATFORM (DEFINED BELOW) OR PURCHASING TOKENS.

You acknowledge that there are certain risks associated with purchasing the Tokens described herein and agree to assume such risks upon any purchase of Tokens. In addition, note that these Terms contain a binding class action waiver, which, if applicable to you, affects your legal rights. If you do not agree to these Terms, do not purchase the Tokens described herein.

Introduction

The following Terms and Conditions of Token Sale and Use (these “Terms”) form an agreement between The Elektrik Foundation, an exempted limited guarantee foundation company incorporated with limited liability in the Cayman Islands (the “Company” or “we”) and you, or the entity you represent, (“you” or the “Purchaser”) and contain the terms and conditions pursuant to which you will purchase cryptographic ERC-20 standard tokens on the Ethereum blockchain with the symbol ‘ELTK’ (the “Tokens” and each a “Token”) from the Company. You and the Company are each a “Party” and, together, the “Parties” to these Terms. This document describes the Token sale (the “Token Sale”) and your rights as a Token holder.

Considerations Before Purchasing Tokens

Prior to purchasing Tokens, you should carefully consider these Terms. By clicking the check boxes and the Submit button on the web application to purchase the Tokens, you agree and accept to be bound by these Terms and any terms incorporated hereafter. If you have any questions regarding these Terms, please contact the Company at [email protected]. If any of these Terms are unacceptable to you, do not purchase the Tokens.

Prior to purchasing Tokens, you should carefully consider these Terms and, to the extent necessary, consult a lawyer, accountant, and/or tax professional, as applicable.

Eligibility to Purchase Tokens

Purchases of Tokens should be undertaken only by individuals or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens, including Ethereum-based tokens and blockchain-based software systems. Purchasers should have an expert understanding of the storage and transmission mechanisms associated with cryptographic tokens. While the Company will be available to assist the Purchaser of Tokens during the Token Sale, the Company will not be responsible in any way for loss of any cryptocurrency, including Tokens, resulting from actions taken by, or omitted by Purchaser. If you do not have such experience or expertise, then you should not purchase Tokens or participate in the Token Sale.

Acknowledgment of Risks

Your participation in the Token Sale is deemed to be your understanding and acknowledgment that you satisfy the requirements mentioned in this paragraph.

Limitation of Liability

As further described herein, by purchasing Tokens, and to the extent permitted by law, you agree to not hold the Company or its 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/or designees liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of Tokens, including losses associated with these Terms.

Key Acknowledgments

You acknowledge, understand, and agree that:

You are subject to and bound by these Terms by virtue of purchasing the Tokens.
The Tokens have no rights, intended uses, or attributes outside of use with the Elektrik Platform or as otherwise expressly referred to in these Terms.
A purchase of Tokens is non-refundable and cannot be canceled.
A purchase of Tokens involves many, varied risks that can result in the loss of all amounts paid.
The Company reserves the right to refuse or cancel Token purchase requests at any time in its sole and absolute discretion.
The Tokens are not backed by any physical bullion or other assets which a Purchaser would have any rights or access to.
Certain persons, including persons who commit to purchasing Tokens earlier than you, may receive more Tokens from the Company for the same amount paid.
These Terms limit the liability of the Company and its Associated Parties (defined below) in connection with the sale of Tokens.
You have reviewed to your satisfaction all supporting collaterals concerning the risks associated with purchasing Tokens including but not limited to the extensive Risk Factors section within the Legal Disclaimer.

Disclaimer

NOTHING IN THESE TERMS SHALL BE DEEMED TO CONSTITUTE A PROSPECTUS OF ANY SORT, A SOLICITATION FOR INVESTMENT OR INVESTMENT ADVICE NOR DOES IT IN ANY WAY PERTAIN TO AN OFFERING OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION. TO THE MAXIMUM AMOUNT PERMITTED BY APPLICABLE LAW, EACH OF THE COMPANY AND THE ELEKTRIK FOUNDATION AND/OR ANY GROUP COMPANY (COLLECTIVELY, THE “ASSOCIATED PARTIES” AND EACH AN “ASSOCIATED PARTY”) EXPRESSLY DISCLAIM AND SHALL NOT BE LIABLE FOR ANY AND ALL RESPONSIBILITY FOR ANY DIRECT OR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR OTHER LOSSES OF ANY KIND, IN TORT, CONTRACT OR OTHERWISE (INCLUDING BUT NOT LIMITED TO LOSS OF REVENUE, INCOME OR PROFITS, AND LOSS OF USE OR DATA), ARISING OUT OF OR IN CONNECTION WITH (I) THE PURCHASER’S ACCEPTANCE OF OR RELIANCE ON ANY INFORMATION CONTAINED IN THESE TERMS OR THE WHITEPAPER (DEFINED BELOW), (II) ANY ERROR, OMISSION OR INACCURACY IN ANY SUCH INFORMATION OR (III) ANY ACTION RESULTING THEREFROM.

Acceptance of Legal Disclaimer, Whitepaper, and Terms

These Terms shall be effective and binding on all parties upon the earlier of (i) you clicking the check boxes and clicking the Submit button contained in the application form to purchase $ELTKs or (ii) you sending any unit of acceptable currency or cryptocurrency to the Company's bank account or digital wallet address (as relevant) in accordance with the Token Purchase Instructions (as defined below).

Additional Terms

The Company has prepared the Legal Disclaimer and Whitepaper, which are available at https://elektrik.network/ describing matters relating to the Company, Elektrik and the Tokens. You acknowledge that you have read and understand the Legal Disclaimer and Whitepaper and have no objection to their contents. Information in the Whitepaper is of a descriptive nature only and does not, unless explicitly incorporated herein, form a part of these Terms. The Legal Disclaimer is detailed in nature and is intended to form a part of these Terms. Where there exists any conflict or inconsistency between the Terms of this Agreement and the Legal Disclaimer, the Legal Disclaimer shall prevail to the extent of the inconsistency.

Token Sale and Use

Unless otherwise stated herein, these Terms govern only your purchase of Tokens from the Company during the Token Sale. The use of the Tokens will be governed primarily by other applicable terms and policies, which currently include the Terms of Use (available at https://elektrik.network/terms.html) and Privacy Policy (available at https://elektrik.network/terms.html) (collectively and as each may be amended and updated from time to time, the “Terms of Service”). The Company may add new terms or policies to the Terms of Service in its sole discretion, and may update the Terms of Service from time to time according to modification procedures set forth therein. To the extent of any conflict with these Terms, the Terms of Service shall control with respect to any issues relating to the use of the Tokens.