IF YOU ARE UNCLEAR OR HAVE ANY QUESTIONS OR ANY QUERIES ABOUT THESE TERMS AND CONDITIONS, YOUR RIGHTS, THE ACTIONS REQUIRED BY YOU AND THE BENEFITS OF THIS OFFER, IMMEDIATELY CONSULT WITH YOUR SALES AGENT AND/OR PERSONAL ADVISORS AND/OR VISIT THE ‘FREQUENTLY ASKED QUESTIONS’ SECTION OF OUR WEBSITE AT www.timelessprotect.com/faq. IN THE CASE THERE IS INCONSISTENCY IN A STATEMENT OR COMMENT BETWEEN ANY OTHER DOCUMENT AND THESE TERMS AND CONDITIONS, THE STATEMENTS MADE ON THESE TERMS AND CONDITIONS SHALL PREVAIL.

THIS BUY BACK PROGRAM USES A TRUST TO PROTECT THE POOL OF FUNDS AND THIS TRUST CARRIES AN INSURANCE POLICY ISSUED BY LLOYDS OF LONDON WITH POLICY #B0621PCLAR003318.  YOUR PROGRAM IS DEEMED TO BE ACTIVE UPON THE SIGNING OF YOUR ENROLLMENT FORM AND THE RECEIPT OF THE FUNDS FOR THE PROGRAM BEING PAID IN FULL.  THIS PROGRAM WILL NOT START IF NO PAYMENT OR PARTIAL PAYMENTS ARE MADE.  IN THE CASE WHERE THE FEE IS FINANCED WITH TIMELESS PROTECT, THE PROGRAM OFFICIALLY BEGINS ONCE THE FINAL PAYMENT IS MADE AND THE FEE HAS BEEN COLLECTED IN FULL. 

THERE IS NO PROCEDURE FOR THE RECOVERY OF YOUR RIGHT TO EXERCISE THE OPTION AFTER IT IS DEEMED FORFEITED BY YOU. FOR THE AVOIDANCE OF DOUBT, YOU MAY FORFEIT YOUR RIGHT TO EXERCISE THE OPTION OR BE DECLINED BENEFITS OF AN EXERCISED OPTION ON THE OCCURRENCES SET OUT BELOW. OF THESE TERMS AND CONDITIONS.  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 MAN” SHALL BE APPLIED TO INTERPRET THE MEANING BY CONSIDERING ALTOGETHER THE TERMS AND CONDITIONS AND DEFINITIONS CONTAINED HEREIN.

Section 1

Timeless Protect LLC (“TPI”, “Provider”) herein offers to You, the Beneficiary, the right to participate in our Buy Back Option Program (the “Program” or “Buy Back Program” to exercise the “Option”) that unequivocally obligates TPI to pay You for the Buy Back Amount subject to these Terms and Conditions. By accepting the right to participate in the Program, you understand, acknowledge and agree to be bound by the Terms and Conditions of this offer in its entirety, as contained in these Terms and Conditions, which may be amended by the Provider from time to time without notice to You.

THE RIGHT TO PARTICIPATE IN THE PROGRAM IS OFFERED IN CONJUNCTION WITH A COMPLETED PURCHASE AGREEMENT. THE RIGHT TO PARTICIPATE IN THE PROGRAM AND THE TPI BUY BACK OPTION ITSELF CARRIES NO SEPARATE MONETARY VALUE. TO BE ELIGIBLE TO EXERCISE YOUR RIGHT TO THIS PROGRAM, YOU UNDERSTAND AND AGREE THAT YOU ARE INDIVIDUALLY AND SEVERALLY RESPONSIBLE TO STRICTLY COMPLY WITH ALL TERMS AND CONDITIONS IN A TIMELY MANNER. YOU ALSO UNDERSTAND AND AGREE THAT ANY ACTIONS BY YOU THAT CONSTITUTE, IN THE SOLE DISCRETION OF THE PROVIDER, NON-COMPLIANCE WITH THESE TERMS OR CONDITIONS MAY RESULT IN (a) YOUR FORFEITURE OF YOUR RIGHT TO PARTICIPATE IN THE PROGRAM; (b) THE EXPIRATION OF YOUR RIGHT TO EXERCISE THE BUY BACK OPTION; OR (c) PROVIDER DECLINING BENEFITS OF AN EXERCISED OPTION.

It is advisable to maintain in your possession a record of dates of your correspondence with TPI and a copy of all materials submitted together with receipts for certified or registered mail communications with TPI. Your submission of Your Exercise My Option form during the Exercise Period will preserve Your right to exercise Your Option in accordance with these Terms and Conditions. However, You can always choose not to participate or to keep Your Ownership, as applicable, by confirming that You wish to do so at the time the Notice to Payout is sent to You.

If you do exercise Your Option, TPI will contact You by letter or  email, 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, and to advise You of the documentation You will be required to provide to complete the transaction including without limitation:

1.      Documentation sufficient to establish that in the sole discretion of TPI You are the original owner or a Permitted Transferee.

2.      Written confirmation from the original sales company, if possible, that:

a.      All arrearages, if any, charged to You from Your original Purchase Date up to the date of Your filing Your Exercise My Option form have been paid in full as applicable;

b.      You have good, clean title to the program or product;

c.      The company has not received notice and/or has no knowledge of any Lien, unpaid taxes, or other assessment or encumbrance registered or pending against your owned product or program; and

d.      Your authorization to TPI as required that permits TPI to independently verify Your settlement of all arrearages.

Section 2

QUALIFYING FOR THE RIGHT TO EXERCISE THE BUY BACK OPTION

Your registration is initiated with TPI when You purchase Your program or product with the sales company using the TPI Program and the appropriate fee has been paid in full to TPI.

FORFEITURE OF YOUR TPI BUY BACK OPTION

You are subject to forfeiture and loss of Your right to exercise Your Option if (as applicable):

1.      You transfer ownership and title to a person or entity other than a Permitted Transferee (being an heir or family member);

2.      You have not submitted, and have proof of mailed by date, Your “Exercise My Option Form” to TPI during the Exercise Period; and/ or

3.      You are, at any time during Your ownership, ninety-one (91) or more calendar days past due on payments related to Your ownership and fail to settle in full all said amounts that are in arrears within ninety-one (91) days from the date first due; and/ or

4.      You are prevented from or unable to transfer, at the Closing Date, ownership of and good, clean and clear title to Your Ownership to TPI or its Assigns, free and clear of any and all Liens and/or other encumbrances, litigation, and/or taxes or other assessments due and payable as of the Closing Date as applicable; and/ or

5.      You do not respond in a timely manner to all requests from TPI and/or the company utilized by TPI for the summary documentation required for the execution of the transfer of Your Ownership to TPI or its Assigns as applicable. A request for information may include but is not limited to providing notarized signatures on deeds, copies of Your personal identification, postal and registered mail fees to return such information; and/ or

6.      You do not comply, do not cooperate or offer no cooperation to TPI or its assigns to expedite the transfer of Your Ownership to TPI or its assigns.

Section 3

BUY BACK AND CLOSING

TPI shall compile and maintain a file of all documents received from You, and information received from third parties as TPI may request from time to time. Within thirty (30) days of the end of your final year of the term you are enrolled in (for example after the end of the 12^th year anniversary date of your purchase on a 12-year program) TPI will send to You a Confirmation of Payout form. You will then have a final option to retain Your Ownership if applicable.  You have one full calendar year to make this decision.   If You confirm that You wish to proceed with getting the full cash back amount, TPI will arrange for any applicable transfer documents to be sent directly to You for Your execution and transfer of good, clean and clear title to TPI or an assigned company. Within 30 days of receipt of confirmation of all documents as required, You will be advised of the Closing Date for the settlement of the TPI Buy Back Amount that would be determined to be the amount due to You by reference to the terms, conditions and definitions.

Section 4

GENERAL TERMS AND CONDITIONS

Transferability. Your TPI Buy Back Option IS NON-TRANSFERRABLE TO ANY OTHER PARTY, except to a Permitted Transferee.

Automatic Termination. Your TPI Buy Back Option will automatically terminate:

1.      if You default on any applicable payments for your asset and do not complete the purchase nor pay the applicable TPI fee;

2.      on Your sale or transfer or assignment of any interest in Your Ownership to any person or third party except a Permitted Transferee.; or

3.      if You do not exercise Your right to this Option as permitted within the Option Period, being the term of one year halfway through your ownership term.

Permitted Transferee. In order for the Permitted Transferee to receive all the rights and privileges to the TPI Buy Back Option, it is Your obligation and responsibility to notify TPI within ninety-one (91) days of the effective date of closing of the sale or transfer of Your interest in Your Ownership to a Permitted Transferee. If Your notice to TPI of transfer and registration of Your Ownership is not sent within 91 days of the effective date of transfer and registration, Your right to this Option shall be deemed to have expired and Your Permitted Transferee will not be entitled to the right to exercise this Buy Back Option.

Tax Implications. You may be subject to federal, provincial, state, or local tax on any payment made to You by TPI or it assigns. You are solely responsible for making the appropriate tax declarations. TPI 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 TPI shall be sent by registered mail to:

Timeless Protect LLC

618 E South Street Suite 500

Orlando, FL 32801

or to such other address that TPI may, from time to time, designate by written notice to You.