Timeless Protect Inc. (“Provider”) herein offers to You, the Beneficiary, the right to participate in our Buy Back Option, or Cash Back Option as applicable, (“Option”) program that unequivocally obliges Provider, to pay to you the appropriate cash back option amount subject to the terms and conditions and definitions contained in this document. By accepting the right to participate in this Option program, you understand, acknowledge and agree to be bound by the Terms and Conditions in their entirety, as contained in this document and as the Provider may amend them from time to time.
SECTION I - THE RIGHT TO PARTICIPATE IN THIS OPTION IS OFFERED IN CONJUNCTION WITH A COMPLETED PURCHASE. THE RIGHT TO PARTICIPATE IN THIS OPTION CARRIES NO SEPARATE MONETARY VALUE. IN ORDER TO BE ELIGIBLE TO EXERCISE YOUR RIGHT TO THIS OPTION, YOU UNDERSTAND AND AGREE THAT YOU ARE INDIVIDUALLY AND SEVERALLY RESPONSIBLE UNDER STRICT COMPLIANCE IN A TIMELY MANNER. YOU ALSO UNDERSTAND AND AGREE THAT ANY ACTIONS BY YOU THAT CONSTITUTES, IN THE SOLE DISCRETION OF THE PROVIDER, NON-COMPLIANCE WITH TERMS OR CONDITIONS CONTAINED HEREIN MAY RESULT IN YOUR FORFEITURE OF YOUR RIGHT TO EXERCISE THIS OPTION OR THE EXPIRY OF YOUR RIGHT TO EXERCISE THISOPTION OR TO BE DECLINED BENEFITS OF AN EXERCISED OPTION. THERE IS NO PROCEDURE FOR THE RECOVERY OF YOUR RIGHT TO EXERCISE THIS OPTION THAT IS DEEMED FORFEITED BY YOU. FOR THE AVOIDANCE OF DOUBT, YOU MAY FORFEIT YOUR RIGHT TO EXERCISE THIS OPTION OR TO BE DECLINED BENEFITS OF AN EXERCISED OPTION ON THE OCCURENCES SET OUT IN SECTION V. OF THIS DOCUMENT. IN THE CASE OF ANY AMBIGUITY OF ANY TERM OR CONDITION OR DEFINITION CONTAINED HEREIN, YOU UNDERSTAND AND AGREE THAT THE TEST OF “A REASONABLE PERSON” SHALL BE APPLIED TO INTERPRET MEANING BY CONSIDERING ALTOGTHER THE TERMS AND CONDITIONS AND DEFINITIONS OF THIS DOCUMENT.
SECTION II -‐ HOW TO EXERCISE YOUR OPTION: Your right to exercise Your Option will be available to you during the Exercise Period, which is halfway through your term. For example, on a 12-year term, you must exercise your option between the 6th year anniversary date and the 7th year anniversary date. To exercise Your right to Your Option:- Locate the Exercise My Option form on the website at www.timelessprotect.com or email us at email@example.com to request the simple one page form. Any time during the Exercise Period, complete the form exactly as presented. To be valid, Your Exercise My Option Form must be dated and signed by ALL persons named in the Beneficiary Information section of this document. Any time during the Exercise Period, but before the Expiry Date, transmit by email a copy of the signed Exercise My Option Form. Respond in a timely manner to all additional information and/or records requested by Provider as required. It is advisable to maintain in your possession, a record of all submitted materials for communications with Provider. Your submission of Your Exercise My Option form during the Exercise Period will preserve Your right to exercise Your Option in accordance with the Terms and Conditions contained herein.
SECTION III - DOCUMENTATION REQUIRED TO VERIFY YOUR OPTION: Provider will contact You by letter, email or telephone, within thirty (30) days of receipt of your Exercise My Option form to explain and/or confirm with You the steps required to complete the buy back or cash back, and to advise You of the documentation You will be required to provide, including without limitation: Documentation sufficient to establish that, in the sole discretion of Provider, You are the original owner or a Permitted Transferee. Written confirmation from sales company or survey company that - Product or program is in good standing and has been maintained; You have good, clean title; No Lien, unpaid taxes, or other assessment or encumbrance registered or pending; Your authorization to Provider, as required, that permits Provider to independently verify Your settlement of all fees and taxes.
SECTION IV -‐ QUALIFYING TO EXERCISE THE OPTION You are automatically registered with Timeless Protect when You purchase your product or program. You are requested to confirm Your agreement to participate in the Buy Back Option Program by logging onto the Member Registration section of the TPI website (www.timelessprotect.com) and following the instructions as prompted. This should be done within the first 60 days after your purchase.
SECTION V -‐ FORFEITURE OF YOUR OPTION - You are subject to forfeiture/loss of Your right to exercise Your Option if:
- You transfer ownership and title to a person or entity other than a Permitted Transferee, being your estate, heirs, or other family member;
- You have not submitted Exercise My Option form to Provider during the Exercise Period; Provider has not received an Exercise My Option Form during the Exercise Period;
- You choose one of the early cash out options. At that time, you will no longer be in the program and will have no further cash back options available to you.
- You do not comply, do not cooperate or offer no cooperation to Provider or its Assigns to expedite the option within one hundred and twenty (120) days of request.
SECTION VI -‐ TRANSFER AND CLOSING Provider shall compile and maintain a file of all documents received from You, and information received from third parties as Provider may request from time to time. At the appropriate time, Provider will send to You a Confirmation of Payout Form. Within 30 days of receipt of confirmation that all documents deemed in the sole discretion of the Provider to be executed in good order, you will be advised of the Closing Date for the settlement of the Cash Back Amount that would be determined the amount due to You by reference to the terms, conditions and definitions contained in this document.
SECTION VII -‐ GENERAL TERMS AND CONDITIONS - Transferability. Your Buy Back Option IS NON-TRANSFERRABLE TO ANY OTHER PARTY, except to a Permitted Transferee as described by the company where you made your purchase/investment, but is understood to be your estate, your heirs, or a family member. Your Option will automatically terminate on Your sale or transfer or assignment (except for any initial financing at time of purchase) of any interest in Your ownership to any person or third party except a Permitted Transferee. In order for the Permitted Transferee to receive all the rights and privileges to the Option, it is Your obligation and responsibility to notify Provider, within ninety-one (91) days of the effective date of transfer and registration, of the sale or transfer of Your interest in Your Ownership to a Permitted Transferee.
Tax Implications. You may be subject to federal, provincial, state, or local tax on any payment made to You by Provider or it Assigns. You are solely responsible for making the appropriate tax declarations. Provider retains no liability whatsoever to make or administer or submit deductions and/or remittances and/or filings on Your behalf. Any document or payment filed with Provider shall be sent by registered mail to: Timeless Protect Inc. 2000 Argentia Road Plaza One Suite 301. Mississauga, ON L5N 1P7 Canada
The terms, conditions and definitions of all Exhibits are incorporated in and form an integral part of this agreement. This document shall be governed by and construed in accordance with the laws of Canada, without regard to its conflict of law or rules. This Option is provided by Timeless Protect Inc., a company that operates independently from the sales company where you have been offered this program. Timeless Protect Inc. is solely responsible for the administration of your Option. Unless otherwise expressly stated by Provider, the location of your purchase and the company operating there, acts neither as an Agent nor an Assign of Timeless Protect Inc. The sales company has no responsibilities nor liabilities related to this program, and all claims and communication regarding this program should be solely directed to Timeless Protect Inc.
SECTION VIII -‐ RIGHT TO AMEND THE OPTION PROGRAM - Timeless Protect Inc. reserves the right, in its sole discretion and without consultation with any other party, to amend, modify, append and/or change the provisions, wording, content, actions required, benefits (altogether the ”Amendments”) of this program. Your right to participate in and the benefits to You of the program shall be interpreted by the Terms and Conditions of this document inclusive of any Amendments existing at the date You qualify for the right to exercise the Option in accordance with Section II. This Document forms an integral part of Your purchase documents.
Your Option can only be processed on receipt by Provider of any documents as required herein and received in the manner prescribed in this document. By accepting this Option document, you understand and acknowledge that Provider is not responsible for non-receipt of lost, stolen, misplaced, or missing documents from You. As proof of Your timely filing of document with Us, you are advised to maintain a copy of all forms, information, mailing receipts and other pertinent information relating to Your Option that You transmit to Provider. If You have any questions regarding this Option document feel free to contact Timeless Protect Inc. by phone, email, or visiting the FAQ section on the website.