Refund & Cancellations
- Licensee shall deposit with Licensor the sum equal to the monthly subscription fee as a refundable retainer to be held as security for the faithful performance by Lessee of all of its obligations under this License, including timely return of the access key and key fob. Nothing contained in this paragraph shall be construed to permit the Licensor to use the refundable retainer to replace any furniture, fixtures and/or equipment which are rendered unusable by reason of obsolescence, age, or other defect not related to the Licensees’ misuse and or/damage to same.
- The refundable retainer (less any sums used by Licensor in accordance with the terms and conditions of this License) will be returned within thirty (30) days after the expiration of the term hereof, subject to Section 4(c) of the membership agreement. The refundable retainer shall not under any circumstance be applied in lieu of be the final payment(s) of Monthly Services and License Fee or service charges under this License.
- In the event that, by reason of the Licensee’s default in its obligations pursuant to this License or otherwise, Licensor shall be entitled to apply any of the refundable retainer deposited pursuant to this License to any outstanding sums due or owing to the Licensor. Licensor shall have the right to charge the Licensee, in addition to any Services and License Fee, such sums as are necessary to replenish any and all amounts applied so as to cause the refundable retainer to be returned to its entire original amount. The failure to pay such amounts as are necessary to replenish the refundable retainer shall be considered a breach of this License and shall entitle the Licensor to exercise any of its rights pursuant to this License, applicable law or otherwise.
Termination of membership
This agreement is to remain in full force and effect until I/O Spaces has received written via email notice of termination from the Licensee. The membership will be terminated 30 days after notice. Membership services will still be due during that termination period.
- Failure of the Licensor not to insist upon the strict performance of any term or condition of this License or to exercise any right or remedy available for a breach thereof, and no acceptance of full or partial payment during the continuance of any such breach shall constitute a waiver of any such breach or any such term or condition.
- Licensor is responsible and required to remove any equipments and belonging located in the space within the termination period. Any item left in the space after the termination period will incur a $10/day storage fee up to 30 days then the items will be discarded.