Terms & Conditions
LBX TOKEN ISSUANCE APPLICATION TERMS AND CONDITIONS
THESE TERMS CAN CONDITIONS CAN BE UPDATED AT THE SOLE DESCRITION OF LAND BETTERMENT CORPORATION AND LAND BETTERMETN EXCHANGE WITHOUT NOTICE.
These terms and conditions create a contract between you and Land Betterment Exchange, and all affiliate defined below (the “Agreement”). Please read the Agreement carefully. To confirm your understanding and acceptance of the Agreement, knowledge you have read the LBX Terms and Conditions (“LBX T&C”) on the Application.
A. INTRODUCTION TO OUR SERVICES
This Agreement governs your use of www.lbxtoken.com, the token issuance application, the Land Betterment Exchange Token Issuance Process and any associated or affiliated services or products, as defined below (“Services”), through which you can apply to receive Land Betterment Exchange Token(s) (as defined below). This Application is available for your use in your country or territory of residence (“Home Country”). Please refer to your local laws and regulation regarding tokens, blockchain and cryptocurrencies as we make no representation regarding your Home Country laws and regulations. To apply and receive LBX Tokens and use our Application, you need compatible hardware, software (latest version recommended and sometimes required) and internet access (fees may apply). Our Services’ and Application performance may be affected by these factors.
Affiliates (Referred to herein as “Affiliates”) are defined as Land Betterment Exchange, Westside Advisors LLC and Land Betterment Corporation.
Application (Referred to herein as “Application”) is the application that is being filled out in its entirety to apply for tokens as part of the Land Betterment Token Issuance Process.
Applicant (Referred to herein as “Applicant(s)”) is the individual or group that has filled out, or is filling out, the Application to apply to receive Land Betterment Exchange Tokens for the completion of environmental remediation and the release of environmental surety bonds.
Deposit (Referred to herein as “Deposit”) is the deposit paid in the form of US dollars, or any other currency accepted by Land Betterment Corporation, through the payment processor in the Application process to LBC as a fee for the audit and verification process of the Application.
Land Betterment Exchange Token (referred to herein as “LBX”) is an environmentally driven token built off the ERC20 Ethereum framework to provide a financial incentive to pull forward environmental remediation of negatively impacted lands from the fossil fuel industry ecosystem while creating jobs for rural distressed markets.
Land Betterment Corporation (referred to herein as “LBC”), an Indiana benefit corporation with extensive experience in the reclamation and remediation of environmentally impacted lands. LBC has been selected as the exclusive partner to the LBX as the LBX Token Issuance Partner to manage the Land Betterment Exchange Token Issuance Process through its exclusive license agreement with Westside Advisors LLC.
Land Betterment Exchange Token Issuance Process (referred to herein as “LBXTIP”) is the rules and regulations around how tokens are issued as a utility and referred to throughout these Terms and Conditions as well as the LBX White Paper.
Land Betterment Exchange White Paper (referred to herein as “LBX White Paper”) is the white paper that defines and discusses the mechanics of the Land Betterment Exchange Token both technically and the Token Issuance Process. The LBX White Paper is subject to change from time to time without any notice to Applicants and should be read in its entirety prior to applying for LBX Tokens through the Application process.
LBX Wallet (referred to herein as the “Wallet”) is defined as the wallet that has been created by Westside Advisors LLC and licensed to Land Betterment Corporation that was created to hold Land Betterment Exchange Tokens as part of the issuance process.
LBX Application Programming Interface (referred to herein as the “API”) is defined as the api that can be used by ecommerce partners to integrate Land Betterment Exchange tokens as a form of payment on their point of sale check out platform.
Products and Services (referred to herein as the “Products and Services” ) is defined as the Application, the API, the LBX, the websites and domains of the Affiliates, and any product or service offered by the Affiliates.
The Token Application (referred to herein as the “Application”) is the formal process application that is used to apply to receive Land Betterment Exchange tokens through the LBX Token website for the completion and release of environmental surety bonds.
Westside Advisors LLC (referred to herein as “WCA”) is the founder of the Land Betterment Exchange Token and the owner of the affiliated technologies as discussed in the LBC and WCA License Agreement.
C. USING OUR SERVICES
ACCOUNTS, SERVICES, APPS, API
Using our Services for the Application process, for the storing of tokens in the Wallet and/or for accepting payments via LBX via the API may require an opening of an account, completing an Application, downloading of the Wallet or the installing the API. The company takes no liability for the use of any of the services, websites, applications or processes.
You must be age 16 (or equivalent minimum age in your Home Country, as set forth in the registration process) to apply for an LBX Tokens through the utility services. An Application for persons under this age can be created by a parent or legal guardian so long as it is not in violation of any regulatory body or framework.
D. DUTIES OF APPLICANT
The Applicant agrees to provide LBC true, complete and accurate information upon request throughout the LBX TIP. Should LBC determine, at its sole and absolute discretion, that the Applicant has not provide true and accurate information or documents throughout the process LBC can immediately for any reason deny the Application. There will be no refund of the Deposit for any reason.
Applicant must obtain, upon LBC’s request, any information or documentation that LBC cannot obtain regarding the permit and/or reclamation process due to policies of various employers, governmental agencies, regulators, etc. Such information shall be used to verify and evaluate the Application. Applicant must pay for any and all costs of obtaining such requested information from said requested parties. Should the Applicant deny the request to obtain such information may result in immediate denial of the Application with no refund of the deposit.
Applicant further agrees to pay all third-party fees incurred in connection with the requested regulatory documentation requested.
Applicant will advise LBC of any and all material, or non-material, changes in the original Application, the reason for the changes, and the effect of the changes in the applied for amount of LBX. There will be no refund issued of deposits paid at any time for any reason.
Under no circumstances once a Deposit has been paid shall there be a refund of the Deposit.
E. APPLICATION TERM
The original term of this agreement shall be from date as stated on the Application or the date the application was submitted at LBC’s discretion until such date as the Application is either approved or denied by LBC, solely at the discretion of LBC based on the LBXTIP.
Should the Applicant fail to respond in a timely manner to such requests by LBC, LBC shall have the right at its sole discretion to deny the Application.
F. WAIVER OF LIABILITY
Affiliates shall not be liability for any damages of any kind arising out of the Application, the Application process or any related events of the LBX, even if advised of the possibility of damages arising.
G. TAX ADVICE
The Affiliates provide no tax advice from the issuance or the purchase of LBX or the LBXTIP either directly from the Land Betterment Exchange or any third-party platform or through the issuance of the Tokens resulting from the Land Betterment Exchange Token Issuance Process. All Applicants must seek their own tax advice on any such circumstance.
H. LBX RISK STATEMENTS
There is no guarantee of market value or liquidity of the LBX now or in the future.
There are no promises of future performance or value that will be made with respect to the LBX, including no promise of inherent value, no promise of continuing payments, and no guarantee that the LBX will hold any particular value. Unless Applicants fully understand and accept the nature of LBX and the potential risks associated with the acquisition, storing, application and/or transfer of the LBX should be done at the investors risk. LBX are not being structured or sold as securities. LBX hold no rights and confer no interests in the equity of Land Betterment Corporation or the Land Betterment Exchange. LBX are issued through the LBX Token Issuance Process from a completed utility event.
This Application does not constitute a prospectus or disclosure document and is not an offer to sell, nor the solicitation of any offer to buy any investment or financial instrument in any jurisdiction. LBX should not be acquired for speculative or investment purposes with the expectation of making an investment return.
As a result of completing the Application there is no guarantee that the Application will be approved by LBC. The denial or approval of any Application is at the absolute and sole discretion of LBC as exclusive partner to the LBXTIP.
No regulatory authority has examined or approved any of the information set out in this Application. No such action has or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of this Application does not imply that applicable laws or regulatory requirements have been complied with.
Participation in LBXTIP or Application process, or acquiring LBX for any reason may carry substantial risk and may involve special risks that could lead to a loss of all or a substantial portion of your contribution or capital at risk in the process. Further information about the risks of participating in a LBXTIP are set out in the LBX White Paper and throughout the Terms and Conditions herein. Please ensure that you have read, understood the Land Betterment Issuance Application Terms and Conditions as well as the LBX White Paper and are prepared to accept the risks.
LBX could be impacted by regulatory action, including potential restrictions on the ownership, use, or possession of such tokens. Regulators or other competent authorities may demand that we revise the mechanics of the LBX and/or the functionality of LBX in order to comply with regulatory requirements or other governmental or business obligations. Nevertheless, we believe we are taking commercially reasonable steps to ensure that the LBXTIP mechanics and issue of LBX do not violate applicable laws and regulations.
I. TOKEN ISSUANCE PROCESS SUMMARY
The process will be communicated to applicants during the application process.
J. LBX APPLICATION DEPOSIT
A required part of the LBX Token Issuance Process is that all Applicants, without exception, pay the required nonrefundable Deposit to LBC as part of the Application process based on the schedule below. The Deposit as not refundable and should the amount of tokens applied for change to a lesser amount there shall be no refunds issued at any time for any reason. Should the amount of tokens applied for in the Application change to a greater amount, than the Applicant must fill out a new Application for the additional amounts to be applied for.
Should LBC determine that such deposit amount is not adequate, or the Application is more complex than ordinary, LBC at its absolute discretion can request an additional deposit amount of be posted to cover the Application process.
K. LBX APPLICATION DATA
A required part of the LBX Token Issuance Process is that all Applicants, without exception, must obtain all requested data required by LBC to complete its audit and verification process. Such data requested shall be legally able to be obtained by the Applicate and such data should be provided on a timely basis as determined by LBC.
L CAUTION REGARDING FORWARD-LOOKING STATEMENTS
The Terms and Conditions and the LBX White Paper may contain forward-looking statements or information (collectively “forward-looking statements”) that relate to current expectations of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to” or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The Affiliates have based these forward-looking statements on current projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, financial needs, or the results of the LBX.
In addition to statements relating to the matters set out here, the LBX White Paper may contain forward-looking statements related to LBX proposed operating model or the LBX TIP. The model speaks to the objectives only, and is not a forecast, projection or prediction of future results of operations.
Forward-looking statements are based on certain assumptions and analysis made by LBX in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties.
Although any forward-looking statements that may exist are believed to be made upon reasonable assumptions, there are risks, uncertainties, assumptions, and other factors which could cause LBX’s actual results, performances, achievements and/or experiences to differ materially from the expectations expressed, implied, or perceived in forward-looking statements.
Given such risks, prospective participants in the LBX should not place undue reliance on these forward-looking statements.
M. YOUR APPLICATION SUBMISSION
Our Services may allow you to submit an Application seeking approval to receive LBX for the required environmental services and the release of environmental surety bonds. As such all LBX Token Issuance Application Terms and Conditions must be met and followed with strict guidelines by the Applicant. The submission of an Application in no way obligates LBC or the Affiliates to approval or review the Application on a timely basis.
As such based on the Application submission the guidelines clearly state that you may not use the Application process to:
- post any materials that (i) you do not have permission, right or license to use, or (ii) infringe on the rights of any third party;
- post objectionable, offensive, unlawful, deceptive, inaccurate, or harmful content;
- post personal, private or confidential information belonging to others;
- impersonate or misrepresent your affiliation with another person, or entity;
- post or transmit spam, including but not limited to unsolicited or unauthorized advertising, promotional materials, or informational announcements;
- post a fake rating or review;
- plan or engage in any illegal, fraudulent, or manipulative activity.
N. WEBSITE, APP, WALLET, API MAINTENANCE AND SUPPORT
The Affiliates will work utilizing its best efforts on a reasonable basis to maintain and provide routine maintenance on its products and services. There is no guarantee that we will be able to maintain such infrastructure and that such products and services will work.
NO WARRANTY: YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT USE OF THE PROCESS, TECHNOLOGY, WEBSITE, APPLICATION, WALLET OR API IS AT YOUR SOLE RISK. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE LICENSED APPLICATION AND ANY SERVICES PERFORMED OR PROVIDED BY THE PRODUCTS AND SERVIES REFERENCED HEREIN ARE PROVIDED "AS IS" AND “AS AVAILABLE,” WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND, AND USERS AND APPLICANTS HEREBY DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH RESPECT TO THE PRODUCTS AND SERVCIES, EITHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES AND/OR CONDITIONS OF MERCHANTABILITY, OF SATISFACTORY QUALITY, OF FITNESS FOR A PARTICULAR PURPOSE, OF ACCURACY, OF QUIET ENJOYMENT, AND OF NONINFRINGEMENT OF THIRD-PARTY RIGHTS. NO ORAL OR WRITTEN INFORMATION OR ADVICE GIVEN BY THE AFFILIATES OR ITS AUTHORIZED REPRESENTATIVE SHALL CREATE A WARRANTY. SHOULD THE PRODUCTS OR SERVICES PROVE DEFECTIVE, YOU ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR, CORRECTION OR LOSS OF VALUE.
P. CONTRACT CHANGES
The Affiliates reserves the right at any time to modify this Agreement, the LBX White Paper, LBX TIP, and the LBX Token Issuance Application Terms and Conditions add new or additional terms or conditions on your use of the Products and Services or to remove terms. Such modifications and additional terms and conditions will be effective immediately and incorporated into this Agreement or the Agreement agreed to at the time of the Application submission. Your continued use of the Products and Services will be deemed acceptance thereof.
Q. THIRD-PARTY MATERIALS
The Affiliates are not responsible or liable for third party materials included within or linked from the Products or the Services.
R. INTELLECTUAL PROPERTY
You agree that the Products, Services, Applications, etc, including but not limited to anything offered or discussed on any of the Affiliates websites, Applications, content, graphics, user interface, audio clips, video clips, editorial content, and the scripts and software used as part in in concert with the Products and Services, contain proprietary information and material that is owned by the Affiliates and/or its licensors, and is protected by applicable intellectual property and other laws, including but not limited to copyright. You agree that you will not use such proprietary information or materials in any way whatsoever unless in compliance with this Agreement. No portion of the Products or Services may be reproduced in any form or by any means, except as expressly permitted by this Agreement. You agree not to modify, rent, loan, sell, or distribute the Products or Services in any manner, and you shall not exploit the Products or Services in any manner not expressly authorized.
S. TRADEMARK AND COPYRIGHT
Unless otherwise noted, the affiliates have or will file copywrites and trademarks to protect the Products and Services.
T. DISCLAIMER OF WARRANTIES; LIABILITY LIMITATION
THE AFFILIATES DO NOT GUARANTEE, REPRESENT, OR WARRANT THAT YOUR USE OF THE PRODUCTS AND SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE, AND YOU AGREE THAT FROM TIME TO TIME THE AFFILIATES MAY REMOVE THE PRODUCTS AND SERVICES FOR INDEFINITE PERIODS OF TIME OR OTHERWISE LIMIT OR DISABLE YOUR ACCESS TO THE PRODUCTS AND SERVICES WITHOUT NOTICE TO YOU.
YOU EXPRESSLY AGREE THAT YOUR USE OF, OR INABILITY TO USE, OR ACTIVITY IN CONNECTION WITH THE PRODUCTS AND SERVICES IS AT YOUR SOLE RISK. THE PRODUCTS AND SERVICES DELIVERED TO YOU THROUGH THE SERVICES ARE (EXCEPT AS EXPRESSLY STATED BY THE AFFILIATES) PROVIDED "AS IS" AND "AS AVAILABLE" FOR YOUR USE, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NONINFRINGEMENT. BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, THE ABOVE EXCLUSION OF IMPLIED WARRANTIES MAY NOT APPLY TO YOU.
IN NO CASE SHALL THE AFFILIATES, ITS DIRECTORS, OFFICERS, EMPLOYEES, AFFILIATES, AGENTS, CONTRACTORS, OR LICENSORS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, SPECIAL, OR CONSEQUENTIAL DAMAGES ARISING FROM YOUR USE OF ANY OF THE PRODUCTS AND SERVICES OR FOR ANY OTHER CLAIM RELATED IN ANY WAY TO YOUR USE OF THE PRODUCTS AND SERVICES, INCLUDING, BUT NOT LIMITED TO, ANY ERRORS OR OMISSIONS, OR ANY INJURY, LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF ANY OF THE PRODUCTS AND SERVCIES, TRANSMITTED, OR OTHERWISE MADE AVAILABLE VIA THE PRODUCTS AND SERVICES, EVEN IF ADVISED OF THEIR POSSIBILITY. BECAUSE SOME COUNTRIES, STATES OR JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR THE LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, IN SUCH COUNTRIES, STATES OR JURISDICTIONS, THE AFFILIATE’S LIABILITY SHALL BE LIMITED TO THE EXTENT SUCH LIMITATION IS PERMITTED BY LAW.
THE AFFILIATES SHALL USE REASONABLE EFFORTS TO PROTECT INFORMATION SUBMITTED BY YOU IN CONNECTION WITH THE PRODUCTS AND SERVICES, BUT YOU AGREE THAT YOUR SUBMISSION OF SUCH INFORMATION IS AT YOUR SOLE RISK, AND YOU HEREBY RELEASE THE AFFILIATES FROM ANY AND ALL LIABILITY TO YOU FOR ANY LOSS OR LIABILITY RELATING TO SUCH INFORMATION IN ANY WAY.
THE AFFILIATES DO NOT REPRESENT OR GUARANTEE THAT THE PRODUCTS AND SERVICES WILL BE FREE FROM LOSS, CORRUPTION, ATTACK, VIRUSES, INTERFERENCE, HACKING, OR OTHER SECURITY INTRUSION, AND YOU HEREBY RELEASE THE AFFILIATES FROM ANY LIABILITY RELATING THERETO. YOU SHALL BE RESPONSIBLE FOR BACKING UP YOUR OWN SYSTEM REGARDING THE PRODUCTS OR SERVICES.
THE AFFILIATES ARE NOT RESPONSIBLE FOR DATA YOU MAY HAVE LOST IN CONNECTION WITH YOUR USE OF THE PRODUCTS OR SERVICES.
U. WAIVER AND INDEMNITY
BY USING THE PRODUCTS AND SERVICES, YOU AGREE, TO THE EXTENT PERMITTED BY LAW, TO INDEMNIFY AND HOLD THE AFFILIATES, ITS DIRECTORS, OFFICERS, EMPLOYEES, AFFILIATES, AGENTS, CONTRACTORS, AND LICENSORS HARMLESS WITH RESPECT TO ANY CLAIMS ARISING OUT OF YOUR BREACH OF THIS AGREEMENT, YOUR USE OF THE PRODUCTS AND SERVICES, OR ANY ACTION TAKEN BY THE AFFILIATES AS PART OF ITS INVESTIGATION OF A SUSPECTED VIOLATION OF THIS AGREEMENT OR AS A RESULT OF ITS FINDING OR DECISION THAT A VIOLATION OF THIS AGREEMENT HAS OCCURRED. YOU AGREE THAT YOU SHALL NOT SUE OR RECOVER ANY DAMAGES FROM THE AFFILIATES, ITS DIRECTORS, OFFICERS, EMPLOYEES, AFFILIATES, AGENTS, CONTRACTORS, AND LICENSORS AS A RESULT OF ITS DECISION TO REMOVE OR REFUSE TO SERVICES, TO WARN YOU, TO SUSPEND OR TERMINATE YOUR ACCESS TO THE SERVICES, OR TO TAKE ANY OTHER ACTION DURING THE INVESTIGATION OF A SUSPECTED VIOLATION OR AS A RESULT OF THE AFFILIATES'S CONCLUSION THAT A VIOLATION OF THIS AGREEMENT HAS OCCURRED. THIS WAIVER AND INDEMNITY PROVISION APPLIES TO ALL VIOLATIONS DESCRIBED IN OR CONTEMPLATED BY THIS AGREEMENT.
V. GOVERNING LAW
Except to the extent expressly provided in the following paragraph, this Agreement and the relationship between the Applicant and the Affiliates, and all transactions or use of the Products and Services shall be governed by the laws of the State of Indiana, excluding its conflicts of law provisions. The Applicant and the Affiliates agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Hamilton, Indiana, to resolve any dispute or claim arising from this Agreement. If (a) you are not a U.S. citizen; (b) you do not reside in the U.S.; (c) you are not accessing the Products and Service from the U.S.; and (d) you are a citizen of one of the countries identified below, you hereby agree that any dispute or claim arising from this Agreement shall be governed by the applicable law set forth below, without regard to any conflict of law provisions, and you hereby irrevocably submit to the non-exclusive jurisdiction of the courts located in the state, province or country identified below whose law governs:
W. OTHER PROVISIONS
This Agreement constitutes the entire agreement between the Applicant and LBC and governs your use of the Products and Services, superseding any prior agreements with respect to the same subject matter between the Applicant and LBC. If any part of this Agreement is held invalid or unenforceable, that portion shall be construed in a manner consistent with applicable law to reflect, as nearly as possible, the original intentions of the parties, and the remaining portions shall remain in full force and effect. LBC's failure to enforce any right or provisions in this Agreement will not constitute a waiver of such or any other provision. LBC will not be responsible for failures to fulfill any obligations due to causes beyond its control.
You agree to comply with all local, state, federal, and national laws, statutes, ordinances, and regulations that apply to your use of the Products and Services. The Applicants use of the Products and Services may also be subject to other laws.
LBC may notify the Applicant with respect to the Products and Services by sending an email message to your email address or a letter via postal mail to your mailing address or via a phone call at the number provided. Notices shall become effective immediately. LBC may also contact you by email to send you additional information about the Products and Services.
You hereby grant LBC the right to take steps LBC believes are reasonably necessary or appropriate to enforce and/or verify compliance with any part of this Agreement. You agree that LBC has the right, without liability to you, to disclose any data and/or information to law enforcement authorities, government officials, and/or a third party, as LBC believes is reasonably necessary or appropriate to enforce and/or verify compliance with any part of this Agreement (including but not limited to LBC's right to cooperate with any legal process relating to your use of the Products and Services and/or Content, and/or a third-party claim that your use of the Products and Services and/or Content is unlawful and/or infringes such third party's rights).
Children under the age of majority should review this Agreement with their parent or guardian to ensure that the child and parent or legal guardian understand it.
Last Updated: May 26, 2021
Land Betterment Exchange, PO BOX 264, FIshers, IN 46038