Subscription Membership Agreement
I. Subscription Term and Renewal
(a) Subscription Membership Term. The initial term of the license granted under this Agreement shall commence on the Effective Date and continue for a period of one (1) year (the "Initial Term"), unless earlier terminated in accordance with the provisions of this Agreement.
(b) Renewal. Upon expiration of the Initial Term, the Subscription Membership shall automatically renew for successive one (1) year terms (each, a "Renewal Term"), unless either party provides written notice or email of non-renewal to the other party at least sixty (60) days prior to the end of the then-current term.
(c) Renewal Fees. Renewal of the Subscription Membership for each Renewal Term shall be subject to payment of the applicable renewal fees by Company. Company shall provide Fundability Member with an invoice for the renewal fees at least ninety (90) days prior to the end of the then-current term. Renewal fees shall be due and payable in full within thirty (30) days of the invoice date.
(d) Fee Adjustments. Company reserves the right to adjust the renewal fees for any Renewal Term by providing written notice to Fundability Member at least ninety (90) days prior to the end of the then-current term.
(e) Termination for Non-Payment. Notwithstanding the foregoing, Company may terminate this Agreement and the Subscription granted hereunder, effective immediately upon written notice to Fundability Member, if Fundability Member fails to pay any renewal fees or other amounts due under this Agreement within thirty (30) days after the applicable due date.
Effect of Termination or Expiration. Upon termination or expiration of this Agreement, the Company granted hereunder shall immediately terminate, and Company shall cease all use of the Software and return or destroy all copies of the Software and Documentation in its possession or control.
(f) Survival. The provisions of sections all throughout this subscription agreement shall survive the termination or expiration of this Agreement.
License Fees and Payment Terms
(g) License Fees. In consideration for the Fundability Subscription granted under this Agreement, Fundability Member shall pay to Company the following fees (collectively, the "Subscription Fees"):
An annual subscription fee of the price you purchase the Fundability Subscription (the "Subscription Fee"), payable in advance on the Effective Date and on each anniversary thereof during the Subscription Term.
II. Payment Terms. All Subscription Fees shall be paid in United States Dollars and are non-refundable, except as expressly provided in this Agreement. Fundability Member shall pay all invoices within thirty (30) days of the invoice date. Any amounts not paid when due shall accrue interest at the rate of one and one-half percent (1.5%) per month, or the maximum rate permitted by applicable law, whichever is less.
(a) Taxes. All Subscription Fees are exclusive of any applicable taxes, levies, duties, or similar governmental assessments of any nature, including value-added, sales, use, or withholding taxes (collectively, "Taxes"). Licensee is responsible for paying all Taxes associated with the Subscription Fees, excluding taxes based on Companies net income or property.
(b) Fee Adjustments. Company reserves the right to adjust the Fees, upon at least sixty (60) days' prior written notice to Fundability Member. Any such adjustment shall take effect at the beginning of the next renewal term of the Subscription Term.
(c) Audit Rights. Company shall have the right, upon reasonable notice and during normal business hours, to audit Fundability Member records and systems to verify compliance with the terms of this Agreement, including the accuracy of the Subscription Fees paid. If such audit reveals an underpayment of Subscription Fees, Fundability Member shall promptly pay the underpaid amount, together with interest as provided in Section II
(d) Payment Disputes. If Fundability Member disputes any portion of an invoice, Fundability Member shall pay the undisputed portion of the invoice and provide Company with written notice of the disputed amount and the basis for the dispute within thirty (30) days of the invoice date. The parties shall work together in good faith to resolve any payment disputes promptly.
. Contact Us
If you have any questions or concerns about this this Membership Subscription Agreement, you can contact us via email or phone.
Contact Information:
EEL Credit Line
(484) 885-0180
600 Eagleview blvd ste 300, Exton, Pennsylvania, 19341