Terms & Conditions
ERE PRE ICO or INITIAL COIN OFFERING (ICO)
ICO PARTICIPATION AND ERE TOKENS USAGE AGREEMENT and TERM OF USE
ICO PARTICIPATION AND ERE TOKENS USAGE AGREEMENT and TERM OF USE
CAE lab GmbH lead the project to build blockchain application for trustful additive manufacturing which be located at Haunstetter Str. 112, Augsburg, Bavaria, Germany, is a ERE token issuer and provider of various additive manufacturing services under the brand name “erecoin” (hereinafter – “erecoin”, “we”, “us”);
WHEREAS, you (“you” or the “User”) are an individual or entity that uses ERE token and currency;
WHEREAS, www.erecoin.io (the “Website”) is the official project website of CAE lab GmbH;
NOW, THEREFORE, for and in consideration of the foregoing and the mutual covenants and agreements contained herein, the parties hereby stipulate, agree and enter into the agreement (the “Agreement”) as follows:
1.1 Blockchain – type of distributed ledger, comprised of unchangeable, digitally recorded data in packages called blocks.
1.2 Cryptocurrency – is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.
1.3 ERE token – virtual utility tokens created on ERC20/etherium blockchain by CAE lab GmbH.
1.4 Ethereum – an open blockchain platform at www.ethereum.org.
1.5 ETH – is the name of the cryptocurrency used within Ethereum.
1.6 ICO – a restricted initial coin offering by CAE lab GmbH to eligible Users regarding purchase of ERE token.
1.7 Services – any services provided by CAE lab GmbH and/or its affiliates.
1.8 Smart Contract – means the Ethereum smart contract.
1.9 ERE tokens emission platform located https://erecoin.io.
1.10 Wallet – any type of wallet used for storage of cryptocurrencies.
1.11 Whitepaper – the document linked at the erecoin.io Website containing the ICO conditions and describing erecoin project and its business model.
2. SCOPE OF THE AGREEMENT
2.1. This Agreement sets out terms and conditions for participation in ICO and usage of ERE token.
3. ACCEPTANCE AND CHANGES TO THE AGREEMENT
3.1. Your access to and use of the Website and/or any Services is subject exclusively to this Agreement. By using the Website you agree to be bound by and accept this Agreement, its terms and conditions and all the policies and guidelines that are incorporated by reference.
3.2. If you do not agree with the Agreement and/or individual provisions of the Agreement, you cannot use the Website and must immediately stop using the Website and/or the Services. We recommend that you store or print-off a copy of the Agreement (including all policies) for your records.
3.3 CAE lab GmbH may change, amend, delete or add to this Agreement or any of the terms and conditions contained in any policies or rules governing the Website and/or the Services at any time and in its sole discretion without notice. Any such changes will be effective upon the posting of the revised Agreement or such policies and rules on the Website and you are solely responsible for reviewing any such notice and the corresponding changes to the Agreement. Your continued use of the Website and/or the Services following any such revisions to the Agreement or such policies and rules will constitute your acceptance of such changes. If you do not agree to any such changes, do not continue to use the Website and/or the Services.
3.4 CAE lab GmbH may at any time change or remove (temporarily or permanently) the Website, Services and their information from the Website without indicating the reasons of such change or removal and you confirm that CAE lab GmbH shall not be liable to you for any such change or removal.
3.5 ERE token is unregulated utility token. If there are any regulations imposed regarding ERE token and utility token, the terms and conditions of this Agreement and/or other conditions regarding usage of ERE token may be changed significantly by CAE lab GmbH to meet such regulatory requirements.
3.6 Use of the Website and/or the Services is limited to parties that are 18 years old or older and lawfully can enter into and form contracts under applicable law.
4. PARTICIPATION REQUIREMENTS
4.1. Before taking any action with respect to participation in the ICO, you shall peruse and understand: (1) this Agreement (2) all the whitepapers of CAE lab GmbH published at the Website; (3) and (4) other relevant documents and information published by CAE lab GmbH. The documents identified above are incorporated as integral parts to this Agreement. You shall refrain from purchasing any ERE token until you understand and accept the documents identified above. By participating in the ICO you expressly acknowledge and represent that you have carefully reviewed the aforementioned terms and conditions, and fully understand the risks, costs, and benefits associated with ERE token and you agree to be bound by these terms and conditions.
4.2. You shall meet certain participation requirements to participate in the ICO. You shall participate in the ICO only within such period and in such manner as set forth in the Website.
4.3. In addition to participation requirements set forth in the Website you shall represent, warrant, acknowledge and agree that:
4.3.1. you are of sufficient age (minimum 18 years of age) to participate in the ICO and have full capacity of civil conduct under the laws of the jurisdiction where you are domiciled;
4.3.2. you are legally permitted to participate in the ICO and are legally permitted to receive and hold cryptocurrencies and tokens;
4.3.3. your participation in the ICO is voluntary and based on your own independent judgment without being coerced, solicited or misled by anyone else;
4.3.4. you have sufficient knowledge on cryptocurrencies, cryptographic tokens, cryptographic protocol and blockchain technology;
4.3.5. you do not contemplate to use ERE token for any speculative, illegal or non-ethical purpose, including, but not limited to, speculative investment;
4.3.6. you do not intend to break or misuse ERE token and/or CAE lab GmbH for money laundering or any illegal activities;
4.3.7. you take sole responsibility for any restrictions and risks associated with participating in the ICO, receiving and holding ERE token, whether referred to in this Agreement, arising under any applicable law or otherwise;
4.3.8. you waive the right to participate in any class action lawsuit or any class wide arbitration against CAE lab GmbH and any person or legal entity associated with it;
4.3.9. you are participating in the ICO to facilitate the development, testing, deployment and operation of CAE lab GmbH products and services;
4.3.10. the proposed outcomes discussed in the Whitepaper may not be achieved;
4.3.11. ERE token may not provide the rewards envisaged;
4.3.12. participating in the ICO, receiving and holding ERE token do not grant any ownership rights in regard to CAE lab GmbH, decision making power, including (without limitation) in relation to development, governance or the role, conduct or performance of CAE lab GmbH;
4.3.13. you will not hack into, interfere with, disrupt, disable, overburden or otherwise impair the proper working of the Website, you will not violate or attempt to violate the security of the Website;
4.3.14. your purchase of ERE tokens is made for your own account as principal and is not made in anticipation of a further distribution of ERE tokens to others;
4.3.15. you are purchasing ERE tokens to actually use CAE lab GmbH services and ERE tokens as a utility tokens, not to speculate on its value;
4.3.16. by participating in the ICO or receiving and holding ERE tokens you acknowledge and agree that you fully understand that ERE tokens may experience volatility in pricing and liquidity, and that, to the extent permitted by applicable law, you agree that CAE lab GmbH and any of its affiliates may not be held liable for any loss arising out of, or in any way connected your participation in the ICO or receiving and holding ERE tokens;
4.3.17. all the representations, warranties and acknowledgments as laid out in this clause are true and accurate.
4.4 If buying, selling and usage of cryptocurrency and/or tokens, participation in the ICO and/or other transactions indicated in this Agreement and/or the Website, are not legal in your country (whether you are a citizen, a resident and/or a tax resident of that country) and/or such transactions can be considered as securities, securities trading, initial public offering, crowdfunding or similar, you oblige not to participate in the ICO, not to use the Website and not to use or buy ERE tokens. Failure to comply with local laws may result in the loss of your ERE tokens.
4.5 You understand and accept that the purchase and sale of cryptocurrencies and tokens of any kind (including ERE tokens) involves risk. Due to the constant price fluctuations, you may increase or lose value in your assets at any time.
5. ICO CONDITIONS
5.1 CAE lab GmbH as a company is to be set up and an initial coin offering (ICO) will be conducted. The offering will be utility tokens known as a erecoin (ERE tokens). Funds raised by CAE lab GmbH will be given as grant towards the development of CAE lab GmbH as a project.
5.2 During the ICO, CAE lab GmbH as a company will issue tokens on the Ethereum blockchain operated by a smart contract and following the ERC20.
5.3 Erecoin (ERE tokens) will be issued in exchange for ERE based on the smart contract.
6. STRUCTURE OF THE ICO
6.1. The maximum total amount of ERE’s to be issued by the Company is 360,000,000.
6.2. In the course of this ICO 60% of the maximum total amount of ERE‘s is offered for sale (up to 216,000,000). These ERE‘s are expected to be distributed as follows:
• 50% of the ERE‘s are offered for development;
• 15% of the ERE‘s are distributed to the operating and administrating of erecoin project;
• 10% of the ERE‘s are distributed to the advisors of the ICO and founders of the Company;
• 10% of the ERE‘s are distributed to the integration of development;
• 10% of the ERE‘s are distributed to Marketing and sales
• 5% of the ERE‘s are distributed to the legal advise for smart contracts;
6.3 The Company may, but is not obliged to, refuse to allocate ERE in quantities exceeding of the Pre-Sale Cap and Hard Cap as the case may be. Payments for such excessive quantities shall be returned (in the currency of the original payment) proportionally to the Purchasers by the Company after deducting relevant costs and charges the Company has incurred in connection with processing such payments, whereas the exchange rate risk is borne by the Purchaser.
6.4 The ERE tokens will be provided to the Purchasers during the ICO. The total supply of ERE will be fixed after the end of the ICO.
6.5 Any ERE offered for purchase to the Purchasers which remain unpurchased at the end of the ICO, shall be destroyed and the total number of ERE stipulated shall be reduced by the number of ERE destroyed.
6.6 Purchaser must have an Ethereum wallet that supports the ERC-20 token standard in order to receive any purchased from the Company. ERE will be listed on crypto exchanges after the ICO ends not earlier than the end of the ICO, whereas the exact time of the listing and selection of crypto exchanges, if any, remains at the sole discretion of the Company.
6.7 ERE purchased or distributed in the course of the ICO may not be sold or otherwise transferred for a period of 6 months from the end of the ICO. The Company may implement measures to enforce this ban, and any ERE transferred in breach of this rule may be destroyed by the Company without further notice.
6.8 The CAE lab GmbH warrants that neither it nor its shareholders will acquire ERE during the ICO, except for allocations under clause 6.2 above. Furthermore, the Company warrants that neither it nor its shareholders will purchase ERE from any third party during the Token Pre-Sale Period and Token Sale Period.
7. PRICE OF ERE
7.1. During the ICO, ERE will be allocated in exchange for Ethereum at the rate of 1 ETH = 2000 ERE. The value of payments in Euros or in cryptocurrencies other than Ether, and the amount of ERE to be allocated in exchange for such payments will be calculated based on exchange rates applicable at the time the payment has been confirmed by the network (in case the payment is made by transferring a cryptocurrency) or at the time the payment is credited to the Company’s current account (in case the payment is made in Euros). The Company is not liable for any changes in the exchange rate and the Purchaser accepts that the changes may decrease the number of ERE to be allocated. The Company shall determine at its sole discretion which cryptocurrencies are acceptable for acquiring ERE.
7.2. The Purchasers will be entitled to certain bonuses for the purchase of ERE made by the Purchaser. The bonuses shall be attributed to the relevant Purchasers as additional ERE credited to the entitled Purchasers upon the creation of ERE to them. No cash or other bonuses shall be paid to the Purchasers. Any changes to the Bonus scheme shall have no retroactive effect, unless the Company expressly stipulates that changes have retroactive effect for fraud prevention or other legitimate reasons.
7.3. The quantities of bonus ERE calculated from the purchased quantity of ERE by relevant Purchaser on the date of the relevant purchase whereas no bonus is calculated from the Bonus amount:
Pre-Sale Bonus January 10, 2019 (10 AM UTC/GMT +1) – February 18, 2019 30%
Sale Bonus February 18, 2019 – March 04, 2019 : 20%
Sale Bonus March 04, 2019 – March 18, 2019 : 15%
Sale Bonus March 18, 2019 – April 01, 2019 : 10%
Sale Bonus April 01 , 2019 – April 16, 2019 : 5%
Sale Bonus April 16, 2019 - April 30, 2019 : 0%
8. TIMING OF ERE SALE
8.1. The various phases of the ICO are the following:
8.1.1 the Token Pre-Sale Period STARTS on 10 January 2019 at 10 AM (UTC/GMT +1);
8.1.2 the Token Pre-Sale Period ENDS and the Token Sale Period STARTS on 18 February 2019 10 AM (UTC/GMT +1);
8.1.3 the Token Sale Period ends on either 30 April 2019 at 10 AM (UTC/GMT +1), or at the moment when the ERE amount stipulated is covered with valid purchase orders.
8.2. The CAE lab GmbH shall publish the total number of ERE currently covered with purchase orders (including bonuses) and the distribution of all ERE between the participating Ethereum accounts. The CAE lab GmbH will update this information at least once a calendar day.
8.3. The ERE purchase conditions may differ during the various phases of the sales period. Only purchase requests that are received by the Company during the relevant period and accepted by the Company under these Terms, entitle the Purchaser to relevant benefits arising from the relevant purchase order.
8.4. The Company reserves the right to change the dates defined in clause 1 above or extend the sale duration for any reason, including any commercial, security, regulatory or procedural reason or issue.
8.5. German time (UTC/GMT +1) shall apply to any dates and deadlines stipulated in these Terms.
8.6. The number of ERE token allowed for purchase by one User is not limited.
8.7. The ICO conditions are indicated in more detail in the Whitepaper and the Website which are an integral part of this Agreement and you agree to be bound by them.
8.8. ERE token emission will be conducted CAE lab GmbH. By participating in the ICO you agree to be bound by all the terms and conditions of CAE lab GmbH.
8.9. ERE tokens is available for purchase to eligible buyers only during the announced periods of the ICO period as indicated in this Agreement, the Whitepaper and the Website.
9. ERE token RIGHTS AND ATTRIBUTES
9.1. ERE token is not money or investment securities and the ICO will not involve issuance of any fiat currency, securities (whether equity securities or otherwise), financial derivative instrument or other kind of investment certificate. ERE tokens is not redeemable, associated with financial return or backed by any underlying asset or repurchase commitment and does not necessarily have market prices or transactions between peers. ERE tokens does not stand for any sort of investment contract for all intents and purposes. You shall not participate in the ICO with a view to investment or speculation or in pursuit of any profit. Under this Agreement CAE lab GmbH does not provide, offer or exchange securities, investment contracts or any other form of financial instrument that may be considered by law to be a security.
9.2. ERE tokens are cryptographic tokens created for access of CAE labs GmbH products and services and benefits associated with it, i.e. discounts for CAE lab GmbH products and services, advance payment for CAE labs GmbH products and services, etc. However, there are no guarantees of their future use or value which can be zero.
9.3. You cannot expect profit from ERE tokens and shall have no expectations of profit from the future success of CAE lab GmbH business and/or the efforts of CAE lab GmbH or other persons. ERE tokens value depends on your active involvement in using and promoting it.
9.4. The ICO is not crowdfunding or initial public offer and you cannot participate in the ICO with a view to crowdfunding or initial public offer.
9.5. ERE tokens are not shares of CAE lab GmbH. ERE tokens does not represent ownership interests or grant ownership, control and voting rights in CAE lab GmbH, as well as does not grant any rights to receive a share of CAE lab GmbH profit.
9.6. ERE tokens does not entitle you to any intellectual property rights in regard to CAE lab GmbH and its products and services.
9.7. CAE lab GmbH may unilaterally in its own discretion and to the fullest extent possible make decisions on spending and investing using the funds received during the ICO.
9.8. CAE lab GmbH is not required to consult with you regarding any activities and/or decisions of CAE lab GmbH or coordinate it with you. You will not have any influence in the development or governance of CAE lab GmbH.
9.9. ERE tokens holders cannot request an audit of CAE lab GmbH and its business, and an investigation of CAE lab GmbH activities.
10. CAE LAB GMBH’S PRODUCTS PROMOTION
10.1. Success of CAE lab GmbH’s business and value of ERE tokens in large part depends on your efforts, therefore, by participating in the ICO and using ERE tokens you acknowledge it and agree to promote CAE lab GmbH products on your own via affiliate commission or other discounts and benefits solely determined by CAE lab GmbH.
10.2. You are free to choose CAE lab GmbH products which you wish to promote and refer potential clients to, as well as means of promotion.
10.3. You shall ensure that all the links linking to the Website and/or CAE lab GmbH products operate correctly and redirect potential clients to the requested part of the Website. If any link fails or breaks you shall take all necessary steps to correct the problem within a reasonable period of time.
10.4. CAE lab GmbH reserves the right to change the links, modify and remove products without notice to you or your consent. CAE lab GmbH shall have no liability or obligation for any such changes.
10.5. You shall not to misrepresent or in any way make damage to CAE lab GmbH, its products or services and the Website. You shall not use CAE lab GmbH logo or any image, texts and links in any way which could dilute the identity of such logo, image, text and links or could cause confusion to the public. You shall also not to promote CAE lab GmbH products on websites that make available or promote sexually explicit material, violence, piracy or pirated materials, or sites that promote discrimination based on race, sex, religion, national origin, or physical disability or sites that promote illegal activities, or otherwise might damage reputation of CAE lab GmbH and its products.
10.6. You shall not promote our websites and CAE lab GmbH’s products by use of “spamming”, unsolicited commercial email, postings to forums, message boards, non-commercial newsgroups and cross-posting to multiple newsgroups at once or advertise in any way that effectively conceals or misrepresents your identity, your domain name or your return email address or in any other way that is likely to tarnish or damage CAE lab GmbH reputation.
11.1. There will be no refunds in regard to the ICO, ERE tokens purchase and usage for any reason, including, but not limited to, loss of your ERE tokens due to technical reasons, errors, malfunction of the wallet, transaction failures, etc. all ERE tokens are sold as-is without any guarantee.
11.2. By participating in the ICO, you are confirming that you have read and understand our no refunds policy, and you acknowledge that all purchases are final and non-refundable, and CAE lab GmbH is not required to provide a refund for any reason, and that you will not receive money or other compensation in lieu of a refund, and you consent to no right of withdrawal from the ICO.
12.1. You agree that you are solely responsible for determining the amount of any taxes that you may owe as a result of this Agreement, the ICO, ERE token and usage of ERE token, and are solely responsible to collect, report and remit any such taxes required under law applicable to you. You shall declare, bear and pay all such taxes, duties, imposts, levies, tariffs and surcharges that might be imposed by the laws and regulations of any jurisdiction as a result of or in connection with the receipt, holding, use, purchase, appreciation or trading of ERE tokens (no matter whether acquired by participating in the ICO or otherwise acquired). You acknowledge and agree that CAE lab GmbH has no responsibility to collect, report or remit any applicable taxes in connection with this Agreement, the ICO, ERE tokens and usage of ERE tokens. You hereby agree to fully indemnify, defend and hold CAE lab GmbH (and its affiliated entities) harmless from any and all claims, demands, damages, awards, fines, costs, expenses and liability in any way associated with the foregoing obligations or otherwise with respect to any claim, demand or allegation of any tax in any way associated with this Agreement, the ICO, ERE tokens and usage of ERE tokens.
12.2. You shall be solely liable for all tax related penalties, claims, fines, punishments, liabilities or otherwise arising from your underpayment, undue payment or belated payment of any applicable tax. CAE lab GmbH provides no advice and makes no representation as to the tax implication of any jurisdiction.
13.1. You should peruse, comprehend and carefully consider or seek legal advice as to the risks described below in addition to the other information stated in this Agreement, the Whitepaper, the Website or elsewhere before deciding to participate in the ICO. Participating in the ICO will be deemed as you having accepted all the risks outlined in this Agreement.
13.2. ERE token price may experience extreme volatility. Cryptographic tokens or cryptocurrencies have demonstrated extreme fluctuations in price over short periods of time on a regular basis. You must be prepared to accept similar fluctuations in ERE tokens value. Such fluctuations are due to market forces and represent changes in the balance of supply and demand. CAE lab GmbH cannot and does not guarantee any market liquidity for ERE token. Additionally, due to different regulatory requirements in different jurisdictions, the liquidity of ERE token may be markedly different in different jurisdictions.
13.3. While some of cryptographic tokens or cryptocurrencies may have been relatively stable, it is possible that their values may drop significantly in the future, which may deprive CAE lab GmbH of sufficient resources to continue to operate.
13.4. Cryptocurrencies are being, or may be, scrutinized by the regulatory authorities of various jurisdictions. CAE lab GmbH may receive queries, notices, warnings, requests or rulings from one or more regulatory authorities from time to time, or may even be ordered to suspend or discontinue any action in connection with CAE lab GmbH, as well as be impacted by one or more regulatory inquiries or regulatory actions, which could impede or limit the ability of CAE lab GmbH to further conduct business. The development, marketing, promotion or otherwise of CAE lab GmbH may be seriously affected, hindered or terminated as a result.
13.5. Advances in cryptography, such as code cracking or technical advances such as the development of quantum computers, could present risks to all cryptocurrencies, including ERE tokens. This could result in the theft, loss, disappearance, destruction or devaluation of ERE tokens. It is impossible to predict the future of cryptography or the future of security innovations to an extent that would permit CAE lab GmbH accurately guide the development of ERE tokens to take into account such unforeseeable changes in the domains of cryptography or security.
13.6. CAE lab GmbH cannot guarantee the software used by CAE lab GmbH to be flaw-free. It may contain certain flaws, errors, defects and bugs, which may disable some functionality for users, expose users’ information or otherwise. Such flaw would compromise the usability and/or security of ERE tokens and consequently bring adverse impact on the value of ERE tokens.
13.7. Ethereum is an open source project and supported by the community. CAE lab GmbH does not lead the development, marketing, operation or otherwise of Ethereum. Anybody may develop a patch or upgrade of the source code of Ethereum’s source without prior authorization of anyone else. The acceptance of Ethereum patches or upgrades by a significant, but not overwhelming, percentage of the users could result in a “fork” in the blockchain of Ethereum, and consequently the operation of two separate networks and will remain separate until the forked blockchains are merged. The temporary or permanent existence of forked blockchains could adversely impact the operation and the market value of ERE tokens and in the worst-case scenario, could ruin the sustainability of ERE tokens.
13.8. While such a fork in the blockchain of Ethereum would possibly be resolved by community-led efforts to merge the forked blockchains, the success is not guaranteed and could take long period of time to achieve.
13.9. The Ethereum source code and the software used by CAE lab GmbH could be updated, amended, altered or modified from time to time by the developers and/or the community of Ethereum. Nobody is able to foresee or guarantee the precise result of such update, amendment, alteration or modification. As a result, any update, amendment, alteration or modification could lead to an unexpected or unintended outcome that adversely affects ERE tokens operation or market value.
13.10. The blockchain rests on open-source software. Regardless of CAE lab GmbH’s effort to keep the blockchain secure, anyone may intentionally or unintentionally introduce weaknesses or bugs into the core infrastructural elements of CAE lab GmbH. This could consequently result in the loss of ERE tokens held by you.
13.11. The loss or destruction of a private key required to access ERE tokens may be irreversible. You are required to safeguard the private keys relating to your own ERE token wallets. To the extent such private key is lost, destroyed or otherwise compromised, neither CAE lab GmbH, nor anyone else will be able to access the related ERE tokens.
13.12. ERE tokens is not a currency issued by any individual, entity, central bank or national, supranational or quasi-national organization. The circulation and trading of ERE tokens on the market depends on the consensus on its value between the relevant market participants.
13.13. Nobody is obliged to redeem or purchase any ERE token from any user or ERE tokens holder. Nor does anyone guarantee the liquidity or market price of ERE tokens to any extent. CAE lab GmbH has no control over market price or liquidity of ERE tokens once ERE tokens start to trade in the open market.
13.14. It is possible that CAE lab GmbH product and services or ERE tokens will not be used by a large number of individuals, businesses and other organizations and that there will be limited public interest in the creation and development of its functionalities. A lack of interest could impact the development of CAE lab GmbH business.
13.15. CAE lab GmbH, as developed, may not meet your expectations. You acknowledge that CAE lab GmbH is currently under development and may undergo significant changes before release. You also acknowledge that any expectations regarding the form and functionality of ERE token held by you may not be met upon its release for any number of reasons, including a change in the design and implementation plans and execution of the implementation of CAE lab GmbH. Furthermore, you acknowledge that erecoin project may never be fully completed or released.
13.16. You understand and accept that hackers or other groups or organizations may attempt to steal ERE tokens or otherwise interrupt or cease CAE lab GmbH business or usage of ERE token.
13.17. Except for historical information, there may be matters in this Agreement, the Website, the Whitepaper or elsewhere that are forward-looking statements. Such statements are only predictions and are subject to inherent risks and uncertainty. Forward-looking statements, which are based on assumptions and estimates and describe CAE lab GmbH future plans, strategies, and expectations are generally identifiable by the use of the words ‘anticipate’, ‘will’, ‘believe’, ‘estimate’, ‘plan’, ‘expect’, ‘intend’, ‘seek’, or similar expressions. You are cautioned not to place undue reliance on forward-looking statements. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties both general and specific that contribute to the possibility those predictions, forecasts, projections and other forward-looking statements will not occur. Those risks and uncertainties include actors and risks specific to the industry in which CAE lab GmbH operates as well as general economic conditions and prevailing exchange rates an interest rates. Actual performance or events may be materially different from those expressed or implied in those statements. All forward-looking statements attributable to CAE lab GmbH or persons acting on behalf of CAE lab GmbH are expressly qualified in their entirety by the cautionary statements in this section. Except as expressly required by the applicable law, CAE lab GmbH undertakes no obligation to publicly update or revise any forward-looking statements provided in this publication whether as a result of new information, future events or otherwise, or the risks affecting this information. None of CAE lab GmbH, its officers or any person named in this Agreement, the Website, the Whitepaper or elsewhere with their consent, or any person involved in the preparation of this Agreement, the Website or the Whitepaper, makes any representation or warranty (express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement except to the extent required by law.
13.18. The Internet industry is comprised of a number of participants and is subject to rapid change and competition CAE lab GmbH faces from other organizations, some of which may have greater financial, technical and marketing resources. Increased competition could result in underutilization of employees, reduced operating margins and loss of market share, especially CAE lab GmbH first mover status. Any of these occurrences could adversely affect the CAE lab GmbH business, operating results and financial condition. The possibility remains that the fundamental business model may not achieve any traction due to an existing or new entrant offering a similar solution or that the general public do not see it as part of their future. The targets and business valuation inherent in the Website, the Whitepaper or elsewhere are based on CAE lab GmbH management personal experience, contacts and feedback from the market. There can be no assurance that these reflect the actual reality of the opportunity or that will be able to compete successfully against current or future competitors. You are encouraged to seek professional advice when assessing the understanding of CAE lab GmbH business model metrics and projected returns and values as presented by directors in this Agreement, the Website, the Whitepaper or elsewhere.
13.19. You acknowledge and agree that in no event shall CAE lab GmbH be liable or responsible for any loss in any way arising out of your participation in the ICO, receiving and holding ERE tokens, or use of the Website and CAE lab GmbH is hereby released by you from liability for any and all such loss.
14. ANTI-MONEY LAUNDERING POLICY
14.1. If CAE lab GmbH discovers your purchase of ERE token violating this Agreement or any anti-money laundering, counter-terrorism financing or other regulatory requirements, your purchase of ERE tokens under the ICO shall be invalid with retroactive effect and CAE lab GmbH shall be entitled to immediately terminate this Agreement with you, deny your access to the ICO, reject delivery of any ERE token and request return of any delivered ERE tokens, irrespective of any payment that you could have made.
15. PROHIBITED ACTIVITIES
15.1. You are prohibited from violating any law, statute, ordinance or regulation in our registered jurisdiction as well as your country or residency.
15.2. You may not use your ERE token to engage in the following categories of prohibited activity and you confirm that you will not use ERE token to do any of the following:
15.2.1. Engage in a transaction involving the proceeds of any unlawful activity;
15.2.2. Defraud or attempt to defraud CAE lab GmbH;
15.2.3. Provide false, inaccurate or misleading information;
15.2.4. Infringe upon CAE lab GmbH or any third party’s copyright, patent, trademark, or intellectual property rights;
15.2.5. Take any action that imposes an unreasonable or disproportionately large load on CAE lab GmbH infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
16. LIABILITY AND INDEMNIFICATION
16.1. You are responsible for actions performed by participating in the ICO, using the Website and ERE tokens.
16.2. You acknowledge that participating in the ICO, purchasing ERE tokens and using ERE tokens involves risk and you will not hold CAE lab GmbH accountable for any gains or losses that you incur as a result.
16.3. By participating in the ICO or receiving and holding ERE tokens, to the extent permitted by applicable law, you agree that CAE lab GmbH and other parties (including, but not limited to, any managers, employees, advisors) cannot be held liable for any loss (including without limitation indirect, special, incidental, consequential, or tort damages, or lost profits) arising out of, or in any way connected to your participation in the ICO or receiving and holding ERE tokens in any manner. Additionally, as a user of ERE tokens and CAE lab GmbH products and services, you acknowledge that CAE lab GmbH has no responsibility for any injury, direct or indirect loss, claim, damages or any special, incidental, consequential, exemplary or punitive damages of any kind that you incur as a direct or indirect result of participation in the ICO, usage of the Website or any of our services.
16.4. You understand and agree that CAE lab GmbH shall not be held liable to and shall not accept any liability, obligation or responsibility whatsoever for any change of the value of ERE token. You understand and expressly agree that CAE lab GmbH shall not guarantee in any way that ERE tokens might be sold or transferred during or after the ICO.
16.5. ERE tokens are provided on an “as is” basis and without any warranties of any kind, either expressed or implied. You assume all responsibility and risk with respect to your participation in the ICO and buying of any amount of ERE tokens and its use.
16.6. You understand and acknowledge that the Services are being provided to you “as is” and “as available” without warranty of any kind. CAE lab GmbH disclaims any and all warranties, express or implied, including but not limited to any implied warranties of merchantability or fitness for a particular purpose, or non infringement. CAE lab GmbH does not guarantee continuous, uninterrupted, error-free or secure access to any part of the ICO or our services.
16.7. To the extent allowable pursuant to applicable law, you shall indemnify, defend, and hold CAE lab GmbH or any of CAE lab GmbH subsidiaries, affiliates, partners, directors, officers, employees, agents, advisors, service providers, sellers, distributors, licensors, successors, and permitted assignees harmless from and against any and all claims, damages, losses, suits, actions, demands, proceedings, payments, liabilities, costs, fines, taxes, penalties and expenses (including the amount paid in settlement of any claim, action, suit or proceeding and the fees and expenses of counsel incurred obtaining advice in respect of, or in defending or settling, any such claim, action, suit or proceeding) of whatsoever nature or kind, and/or liabilities (including, but not limited to reasonable attorneys’ fees incurred and/or those necessary to successfully establish the right to indemnification) filed/incurred by any third party against us in any jurisdiction arising out of a breach of any warranty, representation, or obligation hereunder, and/or arising out of or related to your participation in the ICO, receiving and holding ERE token, your use of the Website, your breach of this Agreement, your mis-use of the ICO or ERE tokens, or your violation of any law, rule or regulation, or the rights of any third party.
16.8. In the event that CAE lab GmbH or its subsidiaries, affiliates, directors, officers, employees, agents, advisors, service providers, sellers, distributors, licensors, successors, and permitted assignees face legal action as a result of your actions, you agree cover any damages, including legal fees, that CAE lab GmbH incur as a result.
16.9. You hereby expressly agree that, to the maximum extent permitted by the applicable law, CAE lab GmbH does not accept any liability for any damage or loss, including loss of business, revenue, or profits, or loss of or damage to data, equipment, or software (direct, indirect, punitive, actual, consequential, incidental, special, exemplary or otherwise), resulting from any use of, or inability to use, the Website and/or ERE token, or the material, information, software, facilities, services or content on the Website, from buying of the tokens or their use by the user, regardless of the basis, upon which the liability is claimed and even if CAE lab GmbH has been advised of the possibility of such loss or damage.
16.10. In any case, total amount of CAE lab GmbH aggregate liability under this Agreement may not 100 EUR. If applicable law does not allow all or any part of the above limitation of liability to apply to you, the limitations will apply to you only to the extent permitted by applicable law. You understand and agree that it is your obligation to ensure compliance with any legislation relevant to your country of domicile concerning participation in the ICO, use of the Website and use and buying of ERE tokens, and that CAE lab GmbH should not accept any liability for any illegal or unauthorized use of the Website and use and buying of ERE tokens.
16.11. The content and services provided by CAE lab GmbH are for informational purposes only and are not intended to provide legal, financial, tax, accounting or investment advice. We assume no liability for any information provided by our employees, directors, or affiliates, regardless of its accuracy. Any action taken by you is your decision, and you relieve CAE lab GmbH of any liability for any outcome that may occur.
16.12. The Website, the Whitepaper and other documents may include forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “believes,” “expects,” “does not expect,” “is expected,” “targets,” “outlook,” “plans,”, “eta”, “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CAE lab GmbH to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You must not place undue reliance on such forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, forecasts and other forward-looking statements will not occur. By participating in the ICO, receiving and holding ERE token you acknowledge and agree that you fully understand and accept the risks in this clause.
16.13. And to the extent permitted by applicable law, you agree that CAE lab GmbH will not be held liable for any loss arising out of, or in any way connected with your participation in the ICO, receiving or holding ERE tokens.
17. FORCE MAJEURE
17.1. CAE lab GmbH shall not be liable in any way for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorism, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications of Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity of enforceability of any remaining provisions.
18. DISCLAIMERS AND WAIVERS
18.1. You shall accept the Website and the ICO “as is” with any faults or failings and without any representation, warranty or guarantee whatsoever, express or implied, including without limitation any implied warranty of accuracy, completeness, quality, merchantability, fitness for a particular purpose or non-infringement.
18.2. The Website and the Whitepaper does not purport to contain all the information that you may require. In all cases, you should conduct your own investigation and analysis of CAE lab GmbH and its business, and the data contained in the Website and the Whitepaper.
18.3. CAE lab GmbH does not make any representation or warranty as to the accuracy or completeness of the information contained in the Website and the Whitepaper. Furthermore, CAE lab GmbH shall not have any liability to the recipient or any person resulting from the reliance upon the Website and the Whitepaper in determining to participate in the ICO and use ERE tokens.
18.4. You must rely on your own investigation of all financial information indicated in the Website and the Whitepaper and no representations or warranties are or will be made by CAE lab GmbH as to the accuracy or completeness of such information.
18.5. CAE lab GmbH makes no representation about the underlying value of ERE tokens.
18.6. The Website and the Whitepaper are prepared for your general information only. It is not intended to be a recommendation to participate in the ICO and/or use ERE tokens.
19.1. You are responsible for maintaining adequate security and control of any and all identification numbers, private keys, or any other codes that you use
19.2. You agree to not hold CAE lab GmbH liable for any loss arising out of, or in any way connected to, your failure to properly secure and keep private your Account information, email address, any password, private keys and any other identification numbers/codes used in connection with participation in the ICO and usage of ERE tokens.
19.3. CAE lab GmbH shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack.
20.1. Personal data refers to any information, whether true or not, about an individual who can be identified from that information; or from that information and other information to which we have or are likely to have access, including information in our records as may be updated from time to time, and any other information relating to any individuals which you may have provided us from time to time in your interaction with us.
20.2. Your personal data that you provide will be used to identify you as the ERE token holder and to execute this Agreement. CAE lab GmbH commits to protect your personal data and disclose it only when it is necessary to execute this Agreement or it is required by the Agreement or applicable law. You expressly authorize CAE lab GmbH to store, process, use and transmit to third parties the information required to execute this Agreement.
21. WEBSITE USAGE
21.1. You agree not to copy any information from the Website without our permission, with the exception of information for your personal non-commercial use.
21.2. The pages of the Website may contain links to third party websites and services. Such links are provided for your convenience, but their presence does not mean that they are recommended to visit by CAE lab GmbH. In addition, CAE lab GmbH does not guarantee their safety and conformity with any user expectations. Furthermore, CAE lab GmbH is not responsible for maintaining any materials referenced from another site, and makes no warranties for that site or this service in such context. Links to such third party material do not imply any endorsement by CAE lab GmbH of such third party material or the content, products or services available from such third party material. You acknowledge sole responsibility for and assume all risk arising from your use of any such third party material.
21.3. The contents of the Website are provided on an “as is” and “as available” basis without warranties of any kind and are made available for your general information only. No warranty of any kind, express, implied or statutory, is given in conjunction with the contents of the Website, the tools contained in the Website or the Website in general.
21.4. CAE lab GmbH does not warrant the accuracy, adequacy, correctness, completeness, reliability, timeliness, non-infringement, title, merchantability or fitness for any purpose of the information on the Website or any website linked to the Website, or that the information available on the Website, or associated therewith, will be uninterrupted or error-free or that defects will be corrected or that this Website will be free from viruses, virus attacks or other harmful elements, and expressly disclaims liability for the same and any errors or omissions. CAE lab GmbH shall not be liable for uninterpreted availability of the Website at all times, in all countries and/or all geographic locations, or at any given time.
21.5. The information contained on the Website may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the Website are your sole responsibility and we shall have no liability for such decisions.
21.6. CAE lab GmbH reserves the right, at its sole and absolute discretion and without giving prior notice, to vary, modify, add or remove features, or amend any content on the Website.
21.7. You shall be deemed to have accepted and agreed to any such change if you access or use the Website after the change is published on the Website. CAE lab GmbH also reserves the right to block or restrict access to, or terminate, withdraw or suspend use of the Website or any part of the Website. CAE lab GmbH will not be liable for any loss which may be incurred as a result of such action.
21.8. CAE lab GmbH reserves the right to disable any links which in its opinion, contain information, images, representations or other material of an inappropriate, defamatory, obscene, indecent or unlawful nature, or that violate any law or any public, privacy, intellectual property or other proprietary right; or have not been authorized by us.
22. INTELLECTUAL PROPERTY
22.1. The URLs representing the Website, “CAE lab GmbH, erecoin.io” and all related logos of our services described in our Website are either copyrighted by CAE lab GmbH and are trademarks of CAE lab GmbH. In addition, all page headers, custom graphics, design, button icons, scripts, source code, content are copyrighted by CAE lab GmbH. You may not copy, imitate, modify, alter, amend or use them without our prior written consent. All the content indicated in the Website, the Whitepaper and any content thereon is the exclusive property of CAE lab GmbH. You may not download, reproduce, or retransmit any information, other than for non-commercial individual use.
22.2. All intellectual property rights comprised in the information, text, graphics, logos, images, audio clips, patents, trademarks, data compilations, scripts, software, computer code, design, technology, sound or any other materials or works found in the Website shall vest in and remain with CAE lab GmbH. You are permitted to download and print such materials from the Website for personal and noncommercial use provided that you do not breach this Agreement.
22.3. You are not permitted to copy, transfer, distribute, reverse compile, adapt, modify, reproduce, republish, display, broadcast, hyperlink or transmit in any manner or by any means or store in any information retrieval system, any part of the Website without the prior written permission of CAE lab GmbH.
23. REPRESENTATIONS AND WARRANTIES
23.1. You attest that you are not a criminal, are not associated with any criminal activity, and that all funds that are used by you in connection with the ICO and ERE token purchase are free from any criminal association, are not the proceeds of crime, and are not derived from any criminal activity.
23.2. By participating in the ICO and buying ERE token hereunder you represent and warrant that your funds in no way came from illegal or unethical sources, that you are not using any proceeds of criminal or illegal activity, and that no transaction involving ERE token are being used to facilitate any criminal or illegal activity.
23.3. You hereby certify to us that any funds used by you in connection with participation in the ICO are either owned by you or that you are validly authorized to carry out transactions using such funds.
23.4. You represent and warrant that you have such knowledge and experience in financial and business affairs as to be capable of evaluating the merits and risks purchasing cryptocurrencies and specifically ERE token and are able to bear the economic risk of total loss of such purchase.
24. TERMINATION (LIMITATION) OF THE AGREEMENT
24.1. The term of this Agreement is for a period of time when you successfully register for the Account until this Agreement is terminated for whatever reason. Account cancellation shall mean the Agreement termination.
24.2. At any time and for any reason in its sole discretion CAE lab GmbH may terminate this Agreement, your access to the ICO and/or the Website, your Account and may halt any pending transactions and/or funds and/or ERE token at any time without notice to you. CAE lab GmbH shall have no liability or obligation for the termination of this Agreement.
24.3. In case of termination of this Agreement for any reason you will not be refunded with any amount of ERE token.
25. JURISDICTION, APPLICABLE LAW AND DISPUTE RESOLUTION
25.1. Jurisdiction of the United States of America (including all territories of this country) is specifically excluded from the ICO and this Agreement.
25.2. CAE lab GmbH reserves the right to change the jurisdiction of CAE lab GmbH and this Agreement at any time in its own discretion, as well as use any parent companies, subsidiaries and/or other affiliated companies for execution of this Agreement, CAE lab GmbH products and services and other activities related to the ICO and CAE lab GmbH’s business.
25.3. The interpretation, validity and enforcement of this Agreement, and all legal actions brought under or in connection with this Agreement, shall be governed by the law of Germany.
25.4. Any disagreements or disputes of the User and CAE lab GmbH, arising from this Agreement, shall be settled by negotiations between the User and CAE lab GmbH. In case of failure to reach an agreement in 14 (fourteen) days, any disputes, disagreements or claims, arising from this Agreement or related to it, its breach, dissolution or validity, that have not been solved by the User and CAE lab GmbH, shall be settled in the competent court of Germany. Both the User and CAE lab GmbH hereby submit to the exclusive jurisdiction of the courts in Germany.
25.5. Any User that breaks any law in their jurisdiction of residence or nationality by using ERE tokens or any service provided by CAE lab GmbH shall be liable for any damages incurred by CAE lab GmbH as a result and agrees to forfeit any assets within their CAE lab GmbH account, at the discretion of CAE lab GmbH or its employees.
26. MISCELLANEOUS PROVISIONS
26.1. You confirm that you have read this Agreement, understood its terms, conditions and consequences.
26.2. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the Parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the Parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.
26.3. All the notices, consents and other communication of the parties related to this Agreement shall be delivered via e-mail or registered post/courrier if CAE lab GmbH requests such type of delivery.
26.4. CAE lab GmbH has a right to revoke this Agreement if you do not comply with the Agreement, act in a fraudulent or illegal way, engage in unauthorized transmission and use of personal data.
26.5. This Agreement is personal to you and it can not be transferred, assigned or delegated to anyone. Any attempt by you to assign, transfer or delegate this Agreement and the rights and/or obligations stipulated in this Agreement shall be null and void. CAE lab GmbH may freely assign this Agreement and/or delegate its duties without consent or notice.
26.6. This Agreement together with the Whitepaper and any terms and conditions published from time to time on the Website constitutes the entire agreement among the Parties with respect to the subject matter hereof. No provision of the Agreement shall be considered waived unless such waiver is in writing and signed by the Party that benefits from the enforcement of such provision. No waiver of any provision in the Agreement, however, will be deemed a waiver of a subsequent breach of such provision or a waiver of a similar provision. In addition, a waiver of any breach or a failure to enforce any term or condition of the Agreement will not in any way affect, limit, or waive a Party’s rights hereunder at any time to enforce strict compliance thereafter with every term and condition hereof.
26.7. You agree to refrain from making, any negative, detracting or unfavorable statements concerning CAE lab GmbH, ERE tokens, any subsidiaries or affiliates, their respective business or business endeavors, products or product history, or their respective former or present officers, directors, agents, distributors or consultants, which may have the effect of diminishing the reputations of CAE lab GmbH, ERE token, any subsidiaries or affiliates, or respective former or present officers, directors, agents, distributors or consultants of CAE lab GmbH or any subsidiaries or affiliates of its business or business endeavors.
26.8. This Agreement is not intended to create, and it shall in no way be construed as creating a joint venture, partnership, or any other similar relationship between you and CAE lab GmbH.
26.9. To the extent that Agreement, the Whitepaper, any terms and conditions published from time to time on the Website conflict with translated copies, the English version prevails.
26.10. All tokens holders who bought their tokens during the ICO can’t sell or trade them before the end of ICO. If they trade or sell them, their tokens won’t be swapped and no refund is accepted by ERE.