VERIFIED BY OBSIDIAN – TERMS AND CONDITIONS
Welcome to Verified by Obsidian.
The following terms and conditions of the offered service (the "Terms and Conditions"), govern your access to and use of the Verified by Obsidian services (the “Services”) offered by the House of Obsidian LLC (“we”, the “Company”, “us”). Users of the Services will be referred to as the “Project”, “you” or “user(s)”.
The Services are offered and available to users who are at least 18 years of age and of legal age to form a binding contract. By using the Services, you represent and warrant that you meet all of the foregoing eligibility requirements. If you do not meet all of these requirements, you must not make use of any of the offered Services.
The original language of these Terms and Conditions, as well as of all other texts present on the Obsidian webpage(s), is English. In case of conflicts between the original English version and any translation provided by you or us, the English version shall prevail.
You also understand and agree that if you use the Services after the date on which the Terms and Conditions have changed, we will treat your continued use as acceptance of the updated Terms and Conditions.
- I. Definitions
- a. Company: the House of Obsidian LLC (“we”), as legally established under US law.
- b. Project: any undertaking, individual or group of individuals (“user(s)”, “you”) who agrees to contract the Services of Obsidian
- c. Terms and Conditions: the entirety of terms and conditions, as specified in this document.
- d. KYC Form: the document, whether in physical or electronic format, that contains official identifiable information on the undersigned parties.
- e. Funds: the liquid balance, whether valued in legal tender, or its equivalent in cryptographic tokens, non-fungible tokens or other classes of digital assets, to which at least one of the undersigned parties has limited or complete access, either through direct control of the wallet or through access to the private keys of the wallet containing the Funds.
- f. Recovered Funds: all Funds that are recovered by the Company as a result of a shutdown procedure or as a result of a successful investigation following a discovered Theft of Funds.
- g. Third party: any individual or legal person that is not a party to the terms and conditions of this document.
- h. Theft of Funds: any malicious removal, misappropriation or fraudulent removal of available liquid balances, whether expressed in legal tender, stable assets, cryptographic tokens, non-fungible tokens or other classes of digital assets, that is carried out by the undersigned party or individuals acting on its behalf.
- II. Eligibility
By using the Company’s Services, you represent and affirm that you are at least 18 years old, have the legal capacity to enter into an agreement, and agree to be legally bound by the Terms and Conditions in their entirety. You further agree, represent, and warrant that the information you will submit via the Company’s KYC Form or any other official channels (such as receipt by individuals who are contracted by Obsidian) is true and accurate, including but not limited to:
- Your identity;
- Your address;
- Your credentials and identifying documents;
- Your control and ownership of the project and any Funds provided in connection therewith;
- Any other information elicited via the KYC Form / other valid communications;
The Company’s Services are open to all eligible persons with whom the Company decides to contract. All discrimination on the basis of gender, race, age, religious affiliation, sexual orientation or otherwise is strictly against our policy.
- III. Provision of Identification Documents and Applicable Regulation
You further understand and agree that in order to utilize the Company’s services and as a condition of these Terms and Conditions, you must provide the required identification information pursuant to the Company’s Know Your Customer Form (“KYC Form”) and Compliance Program, including but not limited to the Company’s Bank Secrecy Act (“BSA”) and Anti-Money Laundering (“AML”) Compliance Program (collectively, our “BSA/AML Program”), as and if applicable.
You understand and agree that your conduct in connection with the Company and your use of the Company’s services is subject to the laws, regulations and rules of any applicable governmental or regulatory authority (the “Applicable Laws and Regulations”) such as, but not limited to: Money Service Business (“MSB”) regulations under the Financial Crimes Enforcement Network (“FinCEN”); State money transmission laws; Laws, regulations, and rules of relevant tax authorities; Applicable regulations and guidance set forth by FinCEN; The Bank Secrecy Act of 1970 (“BSA”); The USA PATRIOT Act of 2001 (“Patriot Act”); AML/CTF provisions as mandated by U.S. federal law and any other rules and regulations regarding AML/CTF; Issuances from the Office of Foreign Assets Control (“OFAC”) from time to time. The National Futures Association (“NFA”); The Financial Industry Regulatory Authority (“FINRA”); and The Commodity Exchange Act (“CEA”), as and if applicable.
You agree and understand that by using the Company’s services in any capacity in connection with the Project you agree to act in compliance with and be legally bound by these Terms and Conditions, as well as by the Applicable Laws and Regulations. For the avoidance of doubt, you understand and agree that the Company’s continued provision of services in connection with the Project is conditioned on your continued adherence at all times to these Terms and Conditions and all Applicable Laws and Regulations.
BY USING THE COMPANY’S SERVICES, YOU HEREBY AUTHORIZE THE COMPANY AND ANY THIRD PARTY SERVICE PROVIDER(S) THAT THE COMPANY MAY CHOOSE IN ITS ABSOLUTE DISCRETION TO TAKE ANY MEASURES THAT THE COMPANY CONSIDERS NECESSARY TO VERIFY AND AUTHENTICATE YOUR IDENTITY AND THE VALIDITY OF THE PROJECT AND ANY PARTIES RELATED TO THE PROJECT, CONFIRM THE INFORMATION YOU SUBMIT ABOUT YOUR IDENTITY AND THE PROJECT, AND TO TAKE ANY ACTION THE COMPANY MAY DEEM NECESSARY BASED ON THE RESULTS, INCLUDING BUT NOT LIMITED TO PROVIDING INFORMATION SUBMITTED BY YOU REGARDING YOUR IDENTITY AND THE PROJECT TO THIRD PARTIES THAT THE COMPANY MAY WORK WITH IN CONNECTION WITH ANY ISSUES REGARDING YOUR ACTIONS, THE PROJECT, OR USE OF THE COMPANY SERVICES, WITHOUT LIMITATION (EXCEPT LIMITATIONS REQUIRED BY APPLICABLE LAW, IF ANY).
The Company takes compliance very seriously and it is Company policy to take all the necessary steps to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing, or any other financial crimes in cooperation with competent authorities and third parties who are contracted to assist in this matter.
- IV. Background Checks
The Company reserves the right to require you to provide it with additional information and require you to undergo a background check prior to using Company’s services, or at any point thereafter, in accordance with Applicable Laws and Regulations or as the Company may deem necessary.
The Company reserves the right to, at all times, verify the integrity of the provided information, should any doubts arise regarding the accuracy of the provided information, including after the Project has started using the Company’s services.
- V. Source of Funds
You agree, represent, and warrant that all Funds in the Project’s account or used in connection with the Company’s services, or Funds exchanged or to be exchanged by the Project in the future, are not the direct or indirect proceeds of any criminal or fraudulent activity.
- VI. Service Modifications
In order to safeguard the quality of the services provided by the Company, such as the storage and protection of the provided identifiable information and the maintenance of the ‘Verified by Obsidian’ status to the general public, the Company reserves the right to introduce changes in the duties of the Project regarding the provision of KYC information when required to maintain apt security. This clause continues to apply after initial KYC information has already been submitted by the Project.
- VII. Assumption of Risk
You agree and understand that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of risks associated with the Company’s Services for yourself. You agree and understand that you access and use the Company’s Services at your own risk.
- VIII. Third Party Service Providers
- IX. GENERAL PROVISIONS APPLICABLE TO ALL PARTIES
- 1. Disclaimer of Warranties
For the avoidance of doubt, the Company is at no point during the provision of its services, such as, for example, during discussions on shutdown procedures, giving financial and/or investment advice, tax advice, legal advice, or other professional advice through the services it provides. Before engaging in any trading or investment activity, you should always consult a qualified professional.
THE SERVICES THAT THE COMPANY PROVIDES ARE PROVIDED TO YOU ON A STRICTLY “AS IS,” “WHERE IS,” AND “WHERE AVAILABLE” BASIS. THE COMPANY DOES NOT REPRESENT OR WARRANT TO THE ACCURACY, COMPLETENESS, CURRENTNESS, NON-INFRINGEMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OF SERVICES. THE COMPANY DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT USE OF THE SERVICES WILL BE CONTINUOUS, UNINTERRUPTED, OR ERROR-FREE.
- 2. Disclaimer of Liability
EXCEPT TO THE EXTENT REQUIRED BY APPLICABLE LAW, NEITHER THE COMPANY OR ANY OF ITS THIRD PARTY SERVICE PROVIDERS SHALL BE LIABLE TO YOU, WHETHER IN CONTRACT OR TORT, FOR ANY PUNITIVE, SPECIAL, INDIRECT, CONSEQUENTIAL, INCIDENTAL, OR SIMILAR DAMAGES (EVEN IF COMPANY HAS BEEN ADVISED OF THE POSSIBILITY THEREOF) IN CONNECTION WITH THESE TERMS AND CONDITIONS, YOUR USE OR ATTEMPTED USE OF COMPANY SERVICES, THE PROJECT, OR ANY OF THE INFORMATION, SERVICES OR TRANSACTIONS CONTEMPLATED BY THESE TERMS AND CONDITIONS.
MOREOVER, AND ALSO EXCEPT TO THE EXTENT REQUIRED BY LAW, NEITHER THE COMPANY NOR ANY OF ITS THIRD PARTY SERVICE PROVIDERS SHALL BE LIABLE TO YOU, WHETHER IN CONTRACT OR TORT, FOR ANY DIRECT DAMAGES OF ANY KIND (EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY THEREOF) IN CONNECTION WITH THESE TERMS AND CONDITIONS, YOUR USE OR ATTEMPTED USE OF THE COMPANY’S SERVICES. IN NO EVENT SHALL THE COMPANY BE LIABLE TO YOU OR ANYONE ELSE FOR ANY LOSS OR INJURY RESULTING DIRECTLY OR INDIRECTLY FROM YOUR USE OF THE COMPANY’S SERVICES, INCLUDING, BUT NOT LIMITED TO, ANY LOSS CAUSED IN WHOLE OR IN PART BY ANY INACCURACIES OR INCOMPLETENESS, DELAYS, INTERRUPTIONS, ERRORS OR OMISSIONS, INCLUDING, BUT NOT LIMITED TO, THOSE ARISING FROM OUR NEGLIGENCE OR THE NEGLIGENCE OF ANY COMPANY PROVIDER OR CONTINGENCIES BEYOND OUR OR ANY COMPANY PROVIDERS’ CONTROL IN PROCURING, COMPILING, INTERPRETING, COMPUTING, REPORTING, OR DELIVERING COMPANY SERVICES. IN NO EVENT SHALL THE COMPANY BE LIABLE TO YOU OR ANYONE ELSE FOR ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE ON, OR IN CONNECTION WITH YOUR USE OF COMPANY SERVICES OR THE INFORMATION PROVIDED BY THE COMPANY OR IN CONNECTION WITH THE PROJECT. THIS LIMITATION ON LIABILITY INCLUDES, BUT IS NOT LIMITED TO ANY DAMAGE OR INTERRUPTIONS CAUSED BY ANY COMPUTER VIRUSES, SPYWARE, SCAMWARE, TROJAN HORSES, WORMS, OR OTHER MALWARE THAT MAY AFFECT YOUR COMPUTER OR OTHER EQUIPMENT, OR ANY PHISHING, SPOOFING, DOMAIN TYPOSQUATTING, OR OTHER ATTACKS, FAILURE OF MECHANICAL OR ELECTRONIC EQUIPMENT OR COMMUNICATION LINES, TELEPHONE OR OTHER INTERCONNECT PROBLEMS (E.G., YOU CANNOT ACCESS YOUR INTERNET SERVICE PROVIDER), UNAUTHORIZED ACCESS, THEFT, OPERATOR ERRORS, STRIKES OR OTHER LABOR PROBLEMS, OR ANY FORCE MAJEURE. THE COMPANY DOES NOT GUARANTEE CONTINUOUS, UNINTERRUPTED, OR SECURE ACCESS TO COMPANY SERVICES.
IF THIS DISCLAIMER OF LIABILITY SECTION IS DEEMED TO CONFLICT WITH ANY OTHER SECTION OF THESE TERMS AND CONDITIONS OR THE USER AGREEMENT, THIS DISCLAIMER OF LIABILITY SECTION SUPERSEDES THE OTHER SECTION.
- 3. Reasonable Care
The Company agrees to take reasonable care and use commercially reasonable efforts in executing our responsibilities to you pursuant to these Terms and Conditions, or such higher care where required by law or as specified by these Terms and Conditions. The Project agrees that the Company cannot be held responsible for any failure or delay to act by any third party, or any other participant that is within the time limits permitted by these Terms and Conditions or prescribed by law, or that is caused by your negligence.
In addition, you agree and understand that any act or omission made by the Company or any company in reliance upon or in accordance with any relevant provision of the State of Tennessee, or a federal agency having jurisdiction over such party, shall constitute reasonable care and be commercially reasonable.
- 4. Periodic Control Procedure
You agree that the Company has the right to check the accuracy of the identification documents that were submitted in the KYC Form by you at all times. Such checks can occur without prior notification and serve as a safeguard to assure the ongoing quality of the Company’s services.
In case the Company finds that the submitted information is no longer accurate, fails to identify the party who provided the information, or that the information depicts a fraudulent representation of the party’s identity, the Company reserves its rights to terminate any agreement it may have with you or the Project, unless you or the Project are able to provide valid identifiable documentation upon immediate request within 2 business days. Failure to provide this information within the requested deadline, will lead to a termination of these Terms and Conditions.
- 5. Applicable Law
These Terms and Conditions, your rights and obligations, and all actions contemplated by, arising out of or related to the Terms and Conditions or a User Agreement, shall be governed by the laws of the State of Tennessee, as if these are contracts wholly entered into and wholly performed within the State of Tennessee.
- 6. Public Communication
The Project agrees that any communication to the public, irrespective of its nature, is only authorized after successful completion of and remuneration for the Company’s Services. Any use of the Company’s logo or other references that may imply a contractual connection to the Company prior to the completion of the KYC Service is strictly forbidden and is subject to compensation for any damages that the Company may incur as a result of e.g. a wrongful representation of the facts to third parties.
In addition, the Project also agrees that it may not communicate to the public that it has entered into the process of contracting the Company’s Service. The Project also agrees that it may not publicly communicate that it envisions to contract the Company’s Service in a manner that may give the impression that the Project has already entered into a contractual negotiation or relation with the Company or has already received the “Verified by Obsidian” status.
The parties may derogate from the above provisions if they have explicitly agreed so otherwise in writing.
- 7. Confidentiality
You agree that any information you may receive from your cooperation with the Company may be highly sensitive and classified, even when not expressly stated by the Company. You therefore expressly agree to treat any such information with strict confidence, to only use the information you have come across during our cooperation for the strict purposes of executing this Agreement, to not disclose the information to third parties and to not copy or reproduce any confidential information without the express consent of the Company. This clause does not apply to information that is publicly and purposefully made available to the broader public.
- X. PROVISIONS APPLICABLE TO HOLDERS OF PRIVATE KEYS TO THE (MULTI-SIG) WALLET THAT CONTAINS THE FUNDS OF THE PROJECT AND INDIVIDUALS WHO CAN INTERACT WITH THAT (MULTI-SIG) WALLET
- 1. Shutdown Procedure
- 1.1. Contingency plan
The Project agrees that prior to contracting the Company’s Services, it needs to present a contingency plan covering at least the first 9 months of operations post public launch.
The contingency plan must include the base measures that the Project aims to take in case the Project decides to end its activity or to alter it in a way which is so severe that it can be considered as a termination of its initial activity.
- 1.2. Procedure
In case the Project decides to end its activity or to alter it in a way which is so severe that it can be considered as a termination of its initial activity, regardless of the reasons or the format of such a termination, the Project agrees to duly notify the Company of its decision within 5 business days.
In any case, the Project agrees to refrain from any short notice action that does not give the Company at least 72 hours notice to communicate its position on the shutdown decision.
The Project agrees to present the Company with all relevant reasons as to why it has decided to terminate its activity, as well as to when it will terminate parts or the entirety of its activities, and which steps it aims to take to effectuate the termination. The Company undertakes to treat this information with confidentiality, so far as the reasons for termination do not constitute illicit activity. The Project agrees to refrain from moving or using any of the Funds to which it has limited or complete access, without explicitly notifying the Company of the reasoning behind such a procedure. Prior to receiving the position of the Company on the proposed course of action, the Project agrees not to initiate any actions that include the moving of Funds to private, dead or burn wallets, or even to personal or business bank accounts.
In case the Project is a legal entity and is terminating its activity as a result of a merger or acquisition by another legal entity, regardless of whether that new entity is also bound by these Terms and Conditions, the Project will duly notify the Company of this decision within 5 business days and provide it with all documentation as proof of the merger or acquisition. The Project agrees not to facilitate access to, or transfer any Funds to the merging or acquiring entity, prior to notifying the Company of its intent to do so. The Project agrees not to effectuate any such transfers or access to the new entity prior to having received the position of the Company.
In case the Project is not a legal entity but rather consists of a group of individuals, any decision by the Project to join another Project, whatever its structure may be, the Project will have to follow the regular shutdown procedure as detailed in the first two paragraphs of this provision, including within the same deadlines. In case the Project fails to deliver apt evidence to the Company that any envisioned transfer or enabled access to the Funds does not constitute a theft of funds via transfer to another entity, the Company reserves the right to release identifiable data to the public authorities for further investigation. In addition, the Company reserves the right to request the Project to deliver identifiable information of at least one individual of the acquiring or merging entity if the Project fails to deliver sufficient proof that the transfer does not constitute a theft of funds.
- 1.3. Claims of the Project
The Project agrees and understands that the Company, when assisting in the (re)allocation of Recovered Funds, can only take into consideration financial commitments and outstanding claims of the Project if the latter can present substantial written proof to the Company, such as invoices or contracts. The assessment of the evidence will be subject to a complete evaluation of the particular circumstances and may be further substantiated with (phone) calls, transcripts, recordings, screenshots or other supporting elements. The Project also agrees and understands that the assessment of the evidence remains entirely within the discretion of the Company.
The Project also agrees that all individuals to which this Section applies are not entitled to claims of compensation for their contributions to the Project’s development or deployment if this Project has not met its base objectives as detailed in: (i) the whitepaper, (ii) public communications or (iii) other endorsed channels or methods used to inform investors and/or customers of the envisioned objectives. In case the Project substantially alters its objectives throughout the course of its development or after its deployment, the Company will take into account the entirety of the circumstances to assess whether the objectives have been (partially) met. The Company also reserves the rights to make multiple assessments based on the various moments in which individuals invested during the seed rounds (if any), private (pre-)sales (if any), and public (pre-)sales.
- 1.4. Service fee for Recovery
The Project agrees that the Company is entitled to a 1.5% fee of the Recovered Funds for the sole purpose of covering its operational costs for assisting in the shutdown procedure, where in any case the fee cannot amount to less than 5,000 USD. In the event that the Recovered Funds amount to less than 5,000 USD, the operational costs of the Company will be covered with priority in proportion to the Recovered Funds. The claim for this fee cannot be combined with the claim for the fee for successful recovery of Funds following a Theft of Funds.
The Company agrees that any and all Recovered Funds that may come in its possession will be deposited without due delay to the wallet:
- 1.5. Sanctions
The Project agrees that non-compliance with the terms and conditions regarding the shutdown procedure constitutes a fundamental breach of these Terms and Conditions, which means that the Project is not eligible for a refund or other compensation. In addition, the Company reserves its right to be compensated for any damages, regardless of their nature, that it may have suffered as a result of non-compliance with the shutdown procedure.
- 2. Theft of Funds
In case the Company discovers any theft of Funds, regardless of the amount, and whether this occurs through the direct actions of an individual employed by or working with the Project or an affiliated third party, and regardless of whether this was discovered as a result of a direct investigation or through clear evidence that has been brought to the Company’s attention, the Project agrees that the Company reserves its right to immediately terminate these Terms and Conditions, as well as to any compensation from the individual for the breach of the terms and conditions of these Terms and Conditions.
The Project agrees that it must take all necessary measures to immediately recover the Funds and cover any damages that have resulted from the theft of Funds to the injured parties. In case the evidence of theft of Funds is deemed substantial by the Company, the Company reserves its right to disclose the identity of the involved individuals to the local authorities and / or third-party service providers who assist the Company with investigations. The Company also reserves it right to recourse through legal action against the individuals involved in the theft of Funds.
The Project agrees that the Company is entitled to a 1.5% fee of the Recovered Funds for the sole purpose of covering its operational costs for assisting in the tracking down stolen Funds, where in any case the fee cannot amount to less than 5,000 USD. In the event that the Recovered Funds amount to less than 5,000 USD, the operational costs of the Company will be covered with priority in proportion to the Recovered Funds. The claim for this fee cannot be combined with the claim for the fee for assistance in the shutdown procedure.
The Company agrees that any and all Recovered Funds that may come in its possession will be deposited without due delay on the multi-sig wallet:
- 3. Refund Policy
In case the Project ceases to agree with the terms as laid out in these Terms and Conditions or in its User Agreement, such as, but not limited to the failure to provide KYC information for all individuals that have limited or complete access to Funds, the Project may ask the Company for a refund within 14 days after having contracted the Company’s Services, where the termination of the contractual relation is not a result of non-compliance with these Terms and Conditions or the User Agreement and where no costs have been incurred on behalf of the Project. This will bring along immediate termination of the contractual relation, as well as the loss of the ‘Verified by Obsidian’ status.
The Project agrees that the Company reserves the right to carry out the refund in the currency that was used to remunerate the Company for its Services, in case that remuneration did not take the form of legal tender. The Project agrees that the refund process can take up to 14 business after the Company’s receipt of the request for a refund.
The Project also agrees that a refund will not constitute the full amount that it paid if service-related costs were already incurred by the Company due to receiving the Project’s agreement to these Terms and Conditions and the User Agreement. In addition, the Project agrees that the Company will in any case retain a 1,000 USD non-refundable fee that will be deducted from the total refundable amount as a minimum coverage of the Company’s operational expenses in the KYC process.
- 4. Dispute Resolution
The Project agrees and understands that any controversy, claim, or dispute arising out of or relating to these Terms and Conditions or the breach thereof shall be settled solely and exclusively by binding arbitration held in the State of Tennessee administered by JAMS and conducted in English, rather than in court.
The Project expressly agrees that any dispute about the scope of these Terms and Conditions or the User Agreement to arbitrate and/or the arbitrability of any particular dispute shall be resolved in arbitration in accordance with this section. In the event that you threaten to litigate a dispute in court, we may institute arbitration to enjoin you from filing a complaint or petition in court. You expressly agree that an arbitrator may issue all appropriate declaratory and injunctive relief necessary to ensure the arbitration of disputes.
The Project agrees to keep any arbitration strictly confidential.
The Project agrees that the arbitrator shall have the authority to order any remedies, legal or equitable, which a party could obtain from a court of competent jurisdiction based on the claims asserted, and nothing more. The arbitrator shall not award punitive or exemplary damages to either party.
The Project agrees that any such arbitration shall be conducted in accordance with the then prevailing JAMS Streamlined Arbitration Rules & Procedures (the “Rules”), with the following exceptions to such Rules if in conflict:
- • Any arbitration must be commenced within one year after the claim or cause of action arises;
- • The arbitration shall be conducted by one neutral arbitrator;
- • You agree that service of a demand for arbitration via Written Notice constitutes sufficient written notice of the Demand for Arbitration;
- • Arbitration may proceed in the absence of any party if that party has been given Written Notice of the arbitration, as specified in these Terms and Conditions and/or the Rules; and
- • Each side agrees to bear its own attorney’s fees, costs, and expenses.
The Project agrees that, wherever practicable, we will seek to appoint a fair representation of diverse arbitrators (considering gender, ethnicity and sexual orientation), and will request administering institutions to include a fair representation of diverse candidates on their rosters and list of potential arbitrator appointees.
The Project agrees to abide by all decisions and awards rendered in such proceedings and you agree that such decisions and awards rendered by the arbitrator shall be final and conclusive. To the extent you seek emergency relief in connection with any controversy, claim, or dispute arising out of or relating to these Terms and Conditions or the breach thereof, you agree that the “Emergency Relief Procedures'' provision of the Rules, currently Rule 2(c), shall govern. The Project agrees and understands that these Terms and Conditions restrict it from seeking emergency relief from any court, including without limitation temporary restraining orders and/or preliminary injunctions, and agrees that, to the extent it breaches these Terms and Conditions by seeking such relief from a court, it shall be responsible for paying the Company’s attorneys’ fees in opposing such relief, and the arbitrator shall render an award of such attorneys’ fees at the earliest possible time after such fees are incurred. Notwithstanding the foregoing obligation to settle disputes through arbitration, the Project or we may assert claims, if they qualify, in small claims court in Washington County or any United States county where the individuals representing the Project live.
The Project agrees that it or we may, without inconsistency with this arbitration provision, apply to any court for an order enforcing the arbitral award. The Project irrevocably and unconditionally agrees to waive any objection that it may now or hereafter have to the laying of venue of any action or proceeding relating to the enforcement of the arbitral award in the federal or state courts located in the State of Tennessee or any United States county where the individuals representing the Project live.
The Project agrees that all such controversies, claims, or disputes shall be settled in this manner in lieu of any action at law or equity.
IF FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES NOT APPLICABLE OR FOR ANY OTHER REASON LITIGATION PROCEEDS IN COURT THEN THE PROJECT AGREES THAT IT AND WE:
- TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAWS AND REGULATIONS, HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THESE TERMS AND CONDITIONS OR ANY OTHER MATTER INVOLVING US HERETO, AND
- SUBMIT TO THE EXCLUSIVE JURISDICTION AND VENUE OF THE FEDERAL OR STATE COURTS LOCATED IN WASHINGTON COUNTY, TENNESSEE AND YOU AGREE NOT TO INSTITUTE ANY SUCH ACTION OR PROCEEDING IN ANY OTHER COURT IN ANY OTHER JURISDICTION.
The Project agrees to arbitrate solely on an individual basis and agrees and understands that these Terms and Conditions do not permit class arbitration or any claims brought as a plaintiff or class member in any class or representative arbitration proceeding. The arbitral tribunal may not consolidate more than one person/entity’s claims and may not otherwise preside over any form of a representative or class proceeding. In the event the prohibition on class arbitration is deemed invalid or unenforceable, then the Project agrees and understands that the remaining portions of the arbitration provisions in these Terms and Conditions will remain in full force and effect.
The Project agrees that this section of these Terms and Conditions has been included to rapidly and inexpensively resolve any disputes with respect to the matters described herein, and that this section shall be grounds for dismissal of any court action commenced by you with respect to a dispute arising out of such matters.