TERMS AND CONDITIONS OF USE FOR ISSUERS
Capitalised terms have the same meaning as defined on the WEBSITE, JOLTIFY PROTOCOL AND JOLTIFY CHAIN TERMS AND CONDITIONS OF USE.
The Website allows Users to list investment pools that have been approved by the Joltify DAO on the Website to raise funding for real world asset (‘Investment Pool’).
(a) By submitting a fund-raising proposal on the Website as an investment pool issuer (‘Issuer’), you are agreeing to be bound by these terms and conditions (‘Issuer Terms’), the Terms, and processes and rules documented on the Website (see Investment Pool Processes and Rules).
(a) The Joltify DAO has absolute right to accept or reject a funding proposal by an Issuer by majority vote on the Joltify Blockchain.
(b) It is the issuer's duty to create a digital wallet on the Joltify chain ('Investment Pool Wallet'), and the issuer takes full responsibility for the security of the Investment Pool Wallet.
(a) The Issuer is responsible for Investment Pool documentation (‘Documentation'), including drafting costs. The Documentation includes investor disclosures (such as private placement memorandum or information memorandum), lending agreement, subscription agreement and security agency agreement as appropriate for the Investment Pool.
(b) The Documentation must accurately reflect the processes and rules documented on the Website (see Investment Pool Processes and Rules).
(c) Documentation must be approved by the Joltify DAO before being listed on the Joltify Chain for potential accredited investors to review and sign. Issuer must use documentation substantially the same as approved for signing by accredited investors.
(d) Issuer must use any Documentation template, if any, that has been provided by Joltify DAO or the Company.
(e) Documentation will be signed electronically by investors and Issuer using the Website’s third party electronic signature service provider.
(f) Issuer warrants that all Documentation it provides will be true and accurate, including any representation of ownership or rights to the real world assets being funded by the Investment Pool.
(a) Once the Investment Pool has successfully raised the agreed investment amount target, the Issuer must draw down or withdraw the funds in the Investment Pool within [7 days]. Issuer acknowledges that if Issuer does not withdraw the Investment Pool within [7 days] of reaching the agreed investment amount target, the Issuer would no longer be able to access the funds in the Investment Pool, and the investors may withdraw the funds they have invested.
(b)Issuer must responsibly operate the Investment Pool Wallet and exchange digital assets to fiat currency to fund the Investment Pool’s real world asset.
(c) Issuer must make digital asset payments to the Investment Pool as they fall due in accordance with the processes and rules documented on the Website (see Investment Pool Processes and Rules), including for interest, principal repayment or redemptions.
(d) Issuer must abide by the terms of use for any of the Website or Joltify’s third party services, including for electronic signature and investor KYC.
(e) Issuer must not deal with the Investment Pool’s real world asset in conflict of investors’ interest and act in breach of the Documentation.
(a) Joltify will provide Services for the Investment Pool to raise funding in accordance with the processes and rules documented on the Website (see Investment Pool Processes and Rules)
(b) Joltify may offer the Issuer to attend an AMA (ask me anything) for Joltify’s community, subject to the Issuer’s consent.
(c) Joltify will rely on its third party KYC service provider to block investors residing in Australia and United States.
(a) Joltify does not guarantee the success of fund-raising for any Investment Pool.
(a) If Issuer breaches the Issuer Terms, Joltify DAO may delist or suspend the Issuer's funding proposal, including freezing its Investment Pool Wallet if the pool as not been drawn down, or taking any other actions to safeguard any investor funds.