1. TimeBucks, Inc., redeems its currency (“time-bucks”) to participating nonprofit organizations and groups that support youth education in the United States. TimeBucks qualifies such groups and organizations at its sole discretion and reserves the right to refuse or revoke enrollment of an Organization. Participating Organization agrees to use funds from redeemed ‘time-bucks’ to further its mission or benefit youth education.
2. When a supporter of Organization donates “time-bucks” to the Organization, these “time-bucks” may be redeemed for cash from TimeBucks, Inc., at the rate of eighty-five cents ($0.85) per “time-buck.” This rate is effective for all “time-bucks” redeemed through December 1, 2006.
3. TimeBucks stipulates, and Organization understands, that redemption rates for “time-bucks” may change in the future, and Organization’s continued participation in the TimeBucks Redemption Program constitutes implicit acceptance of the preannounced rate. TimeBucks may further implement modest administration fees after the pilot program is completed, providing ample notice to Organization of any such intentions.
4. During Organization’s enrollment in the program, TimeBucks and Organization shall have the right to indicate to the public that Organization is an authorized participant in the Program and in connection therewith may use the trademarks, servicemarks, and trade names (“Marks”) of the other party. Organization shall not use the TimeBucks Marks in any manner that would be inconsistent with or damaging to TimeBucks name or reputation.
5. Neither TimeBucks nor Organization shall use any confidential information, including but not limited to banking information, for any purpose not authorized under this Agreement, and shall not disclose any such confidential information to any third party except as required by law.
6. This Agreement shall remain in effect until terminated by either party upon thirty (30) days written notice to the other party.
7. Organization may not assign this Agreement or any rights or obligations hereunder, directly or indirectly by operation of law or otherwise, without the prior written consent of TimeBucks, Inc.
8. TimeBucks obligation to redeem “time-bucks” under the Program is expressly conditioned upon TimeBucks receiving valid, donated “time-bucks” from participating Organization. TimeBucks makes no representations or warranties, express, implied, statutory or otherwise, with respect to the Program or as to any matter whatsoever. In particular and without limitation, TimeBucks disclaims any and all warranties of merchantability, satisfactory quality, fitness for a particular purpose or non-infringement of third-party rights.
9. TimeBucks shall not be liable for any damages, including without limitation direct or indirect damages, incidental, special, or consequential damages, loss of profits or revenue, or interruption of business, arising in any way out of or related to the Program, regardless of the form of action, whether in contract, tort (including negligence), strict product liability or otherwise, even if TimeBucks or any representative of TimeBucks has been advised of the possibility of such damages.
10. TimeBucks reserves the right to discontinue or alter the terms of this Program, including but not limited to: redemption rates, participating merchants, and the manner in which “time-bucks” may be acquired, traded, or otherwise managed as a community currency.
