GLBrain Coin (GLB) Terms & Conditions
The following Terms and Conditions (“Terms”) govern the sale of Globra’s cryptographic coin – GLBrain Coin (“GLB”) by the company GloBra FZ-LLC, its subsidiaries and affiliates (“Globra”). This document does not constitute a prospectus of any sort, is not a solicitation for investment and does not pertain in any way to an initial public offering or a share/equity offering and does not pertain in any way to an offering of securities in any jurisdiction. This document describes the coin offering in which the token is sold.
IMPORTANT
Ownership of GLB during the coin offering, other than the in use GLBrain to purchase GLBrain services for a discounted price as described in the token economy of the white paper, carries no rights express or implied. Purchases of GLB are non-refundable. Purchasers should have no expectation of influence over the governance of the issuing company, or Globra, nor of receipt of any profit or returns based on dividends or interest, or any other form of regular payment, other than the in use GLBrain to purchase GLBrain services for a discounted price as described in the token economy of the white paper, from Gobra. The purchase of GLB does not represent an investment associated with the promise of returns; besides the in use wthin the GLBrain Network, it represents a voluntary contribution to a crowdfunding initiative with the aim of financing GLBrain’s product development projects, as described in GLB Whitepaper published by Globra
The information contained in the Whitepaper and on the website are of descriptive nature only, are not binding and do – unless explicitly referred to herein such as other than the in use GLBrain to purchase GLBrain services for a discounted price as described in the token economy of the white paper – not form part of the Terms and Conditions set out below.
By participating in the sale of GLB, you expressly acknowledge that you have carefully reviewed the Terms and fully understand the costs and benefits of purchasing GLB and agree to be bound by these Terms.
As set forth below, you further represent and warrant that, to the extent permitted by law, you are authorized to purchase GLB in your relevant jurisdiction, are of a legal age to be bound by these Terms, and will not hold Globra, its parent or affiliates, or the officers, directors, agents, joint ventures, employees or suppliers of GLB or Globra FZ-LLC (collectively the “GLBrain Team & Parties”), now or in the future, liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to the sale of GLBrain Coin.
DO NOT PURCHASE GLBRAIN COIN IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS
The purchase of GLB should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens, like Bitcoin (“BTC”) or Ether (ETH), and blockchain based software systems. Purchasers should have functional understanding of storage and transmission mechanisms associated with other cryptographic tokens. While Globra will be available to assist Purchasers of GLB during the sale, the GLBrain team will not be responsible in any way for loss of BTC, ETH, DASH or GLBrain Coin resulting from actions taken by, or omitted by Purchasers. If you do not have such experience or expertise, then you should not purchase GLBrain Coin or participate in the sale of GLB.
WARNING: PURCHASERS OF GLB MUST BE MADE AWARE OF CERTAIN FACTORS
Prior to purchasing GLB, you should carefully consider the Terms listed below and, to the extent necessary, consult an appropriate lawyer, accountant, or tax professional. If any of the following terms are unacceptable to you, you should not purchase GLB. By purchasing GLB, and to the extent permitted by law, you are agreeing not to hold any of the GLBrain Team & Parties liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of GLB, including losses associated with the terms set forth below.
TERMS AND CONDITIONS
1. Disclosure of Purchases
In the spirit of openness, and to enable GLB Purchasers to have as much information as possible to guide their decision-making process, the GLBrain Team & Parties will disclose on a daily basis, the total number of GLB sold, reserved and outstanding to enable the Purchaser to develop an understanding of the size of the existing GLB pool at the time of their GLB purchase.
ALL PURCHASES OF GLB ARE NON-REFUNDABLE, ALL PURCHASES OF GLB ARE FINAL. BY PURCHASING GLB, THE PURCHASER ACKNOWLEDGES THAT NEITHER GLOBRA NOR ANY OTHER OF THE GLBRAIN TEAM & PARTIES ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON, AND THAT THE PURCHASER WILL NOT RECEIVE MONEY OR OTHER COMPENSATION FOR ANY GLB THAT IS NOT USED TO PURCHASE GLBrain SERVICES FOR A DISCOUNTED PRICE AS DESCRIBED IN THE TOKEN ECONOMY OF THE WHITZEPAPER.
2. Taxation of GLB and Taxation Related to the coin offering
The Purchaser bears the sole responsibility to determine if the purchase of GLB with Fiat money, BTC or ETH, or the potential appreciation or depreciation in the value of GLB over time, has tax implications for the Purchaser in the Purchaser’s home jurisdiction. By purchasing GLB, and to the extent permitted by law, the Purchaser agrees not to hold any of the GLBrain Team & Parties liable for any tax liability associated with or arising from the purchase of GLB.
3. Privacy
Although the GLBrain Team requires that Purchasers provide personal information, such as name and email address, for administrative and KYC purposes, the GLBrain Team will not publish any identifying information related to a GLB purchase, without the prior written consent of the Purchaser. Purchasers may be contacted by email by the GLBrain Team regarding a purchase. Such emails will be informational only. The GLBrain Team & Parties will not request any information from Purchasers in an email.
4. Disclaimer of Warranties
THE PURCHASER EXPRESSLY AGREES THAT HE/SHE IS PURCHASING GLB AT THE PURCHASER’S SOLE RISK AND THAT GLB IS PROVIDED ON AN "AS IS" BASIS, AND WITH THE EXCEMPTION OF THE USE WITHIN GLBrain TO PURCHASE GLBRAIN SERVICES FOR A DISCOUNTED PRICE AS DESCRIBED IN THE TOKEN ECONOMY OF THE WHITEPAPER, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR IMPLIED WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE (EXCEPT ONLY TO THE EXTENT PROHIBITED UNDER APPLICABLE LAW WITH ANY LEGALLY REQUIRED WARRANTY PERIOD TO THE SHORTER OF THIRTY DAYS FROM FIRST USE OR THE MINIMUM PERIOD REQUIRED). WITHOUT LIMITING THE FOREGOING, NONE OF THE GLBrain TEAM & PARTIES WARRANT THAT THE PROCESS FOR PURCHASING GLBRAIN COIN WILL BE UNINTERRUPTED OR ERROR-FREE.
By purchasing GLB, the Purchaser understands and accepts that while GLBrain Team & Parties will make reasonable efforts to reach the targets outlined in the Whitepaper, it is possible that such efforts may fail and Purchaser’s GLB may become useless and/or valueless due to technical, commercial, regulatory or any other reasons.
The Purchaser is also aware of the risk that even if all or parts of the GLB and GLBrain projects are successfully developed and released in full or in parts, due to a lack of public interest. The Purchaser therefore understands and accepts that the purchase of GLB carries significant financial, regulatory and/or reputational risks (including the complete loss of value of created GLB if any).
5. Technical Risks
By purchasing GLBrain Coin, Purchasers understand that the blockchain technology underlying the storage and transmission of GLBrain Coin. Purchasers understand that a loss of GLB may occur due to any of the following technical risks:
• Risk of loss of private seed: Purchasers’ GLBrain Coinscanonlybe accessed by using a GLB wallet, which can only be loaded and backed up using a private seed. Purchasers understand and accept that if their private seed gets lost or stolen, the obtained GLB associated with the wallet addresses will be unrecoverable and will be permanently lost. Purchasers also understand and accept that it is their sole responsibility to take the appropriate steps to back up their wallet. Purchasers accept that the GLBrain Team is not liable for any losses in GLB attributable to the failure on the part of the Purchaser to back up their wallet.
• Risk of theft: The Purchaser understands and accepts that the software application and software platform underlying GLB (i.e. the Sky Fiber blockchain) may be exposed to attacks by hackers or other individuals that could result in theft or loss of GLB.
• Risk of wallet incompatibility: The Purchaser understands and accepts that his computer’s operating system must be compatible with the GLB wallet obtained for the storage of GLB. The failure to assure this may have the result that Purchasers may not gain access to the wallet service.
6. Limitations Waiver of Liability
THE PURCHASER ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, GLB OR THE GLBrain TEAM & PARTIES UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE) AND THAT NONE OF THE GLBrain PARTIES SHALL BE LIABLE FOR ANY
INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUTOF THE USE OF, OR INABILITY TO USE, OR PURCHASE OF, OR INABILITY TO PURCHASE, GLB.
THE PURCHASER FURTHER SPECIFICALLY ACKNOWLEDGES THAT THE GLBrain TEAM & PARTIES ARE NOT LIABLE FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER PURCHASERS OF GLB, AND THAT THE RISK OF PURCHASING AND USING GLBrain COIN RESTS ENTIRELY WITH THE PURCHASER. IN PARTICULAR, NOTHING IN THESE TERMS SHALL AFFECT THE STATUTORY RIGHTS OF ANY PURCHASER OR EXCLUDE INJURY ARISING FROM ANY WILFUL MISCONDUCT OR FRAUD OF THE GLBrain TEAM.
7. Force Majeure
The GLBrain Team & Parties is not liable for failure to perform solely caused by:
● unavoidable casualty,
● delays in delivery of materials,
● embargoes,
● government orders,
● acts of civil or military authorities,
● acts by common carriers,
● emergency conditions (including weather conditions),
● or any similar unforeseen event that renders performance commercially implausible.
If an event of force majeure occurs, the party injured by the other’s inability to perform may elect to suspend the Agreement, in whole or part, for the duration of the force majeure circumstances. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimize the impact of force majeure on the injured party.
8. Complete Agreement
These Terms set forth the entire understanding between each Purchaser and The GLBrain Team with respect to the purchase and sale of GLB. For facts relating to the sale and purchase, the Purchaser agrees to rely only on these two documents (Terms and Whitepaper) in determining purchase decisions and understands that these documents govern the sale of GLB and supersede any public statements about the coin offering made by third parties or by the GLBrain Team or individuals associated with any of the GLBrain Team & Parties, past and present and during the coin offering.
9. Severability
The Purchaser and the GLBrain Team & Parties agree that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.
10. No Waiver
The failure of the GLBrain Team to require or enforce strict performance by the Purchaser of any provision of these Terms or the GLBrain Team’s failure to exercise any right under these agreements shall not be construed as a waiver or relinquishment of the GLBrain Team 's right to assert or rely upon any such provision or right in that or any other instance. The express waiver by the GLBrain Team of any provision, condition, or requirement of these Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. Except as expressly and specifically set forth in this these Terms, no representations, statements, consents, waivers, or other acts or omissions by the GLBrain Team shall be deemed a modification of these Terms nor be legally binding.
11. Updates to the Terms and Conditions
The GLBrain Team & Parties reserves the right, at its sole discretion, to change, modify, add, or remove portions of the Terms at any time during the sale by posting the amended Terms on the GLBrain webside (www.glbrain.com). Any Purchaser will be deemed to have accepted such changes by purchasing GLB. The Terms may not be otherwise amended except in a signed writing executed by both the Purchaser and the GLBrain Team. For purposes of this agreement, "writing" does not include an e-mail message and a signature does not include an electronic signature. If at any point you do not agree to any portion of the then-current version of the Terms, you should not purchase GLB.
12. Terms and Conditions for participating in the Lucky Draw
1. These terms and conditions ("Terms and Conditions") shall apply to the Lucky draw offered to buyers of GLB during the pre sale phase. (Lucky Draw Period)
2. By taking part in this Lucky Draw, you agree to be bound by these Lucky Draw Terms and Conditions and the decisions of of GloBra FZ-LLC in connection with this Lucky Draw.
3. You must be 18 years and above (as of the start of the Lucky Draw Period) 6. The following categories of people are not eligible to participate in the Lucky Draw:
4. GloBra FZ-LLC has the absolute discretion to determine the eligibility of Participants. Such determination shall be final and conclusive and Shell is not obliged to give any reason for its determination.
5. Every purchase of 10.000 GLB during the Lucky draw Period will automatically qualify for one Lucky Draw Ticket.
6. GloBra FZ-LLC has absolute discretion to disqualify any Lucky Draw Participation form that does not meet the criteria set out in these Terms and Conditions. Such determination is final and conclusive and Shell is not obliged to give any reason for its determination.
7. Prices are as laid out in the Lucky Draw advertising on the GLBrain IEO Landing Page.
8. All tickets will be sent out to the buyers by February 15th by e-mail
9. There will be twenty (20) Lucky Draw winners in total. The winners for the Lucky Draw ("Winners") will be drawn at random at 1000 hrs on February 20 2020 ("Draw Date")
10. All Winners shall be notified at their mailing address within fourteen (14) calendar days of the Draw Date.
11. Shell will agree with the Winner on a date to redeem the Prize. For the 1st Price personal identification (NRIC or passport) If a Winner fails to produce the required personal identification documents, his/her respective prize will be forfeited (without any liability on the part of GloBra FZ-LLC to any person). Winners of the other prices have to redeem their prices by sending an email from the email they got the ticket sent to including the public key of their GLB wallet.
12. Prizes that are not redeemed within thirty (30) calendar days from the Draw Date will be forfeited. No correspondence or claims will be entertained in the event of such forfeiture. A Participant whose prize has been forfeited shall not be entitled to any payment or compensation whatsoever.
13. Prizes are not transferable, or exchangeable for cash, credits or any other item or otherwise, either partially or wholly. Use of the Prizes shall be subject to Shell’s terms and conditions.
13. Cooperation with Legal Authorities
The GLBrain Team will cooperate with all law enforcement enquiries, subpoenas, or requests provided they are fully supported and documented by the law in the relevant jurisdictions. In accord with one of the core principles of GLBrain — transparency — the GLBrain Team will endeavor to publish any legal enquiries upon receipt.
14. Further Information
For further information regarding the GLB sale, please contact [email protected]