Common use of Rejection or Termination Clause in Contracts

Rejection or Termination. The payment of the Subscription Amount (or, in the case of rejection of a portion of the Subscriber’s subscription, the part of the payment relating to such rejected portion) will be returned, without interest, but subject to deduction of third party processing fees, if any, if Subscriber’s subscription is rejected in whole or in part or if the Offering is terminated or canceled. If a subscription was made in a form of currency other than U.S. dollars, you will receive such payment in the form of a check in U.S. dollars via U.S. mail or, in our sole discretion, the currency in which the subscription was made. If we elect to make such payment in a currency other than U.S. dollars, we will use the same process we used to convert the subscription into U.S. dollars to convert the U.S. dollars back into the original currency and such amounts will be refunded to you. You will bear third party processing and exchange costs, if applicable.

Appears in 7 contracts

Samples: Form of Subscription Agreement (Masterworks 001, LLC), Form of Subscription Agreement (Masterworks 001, LLC), Form of Subscription Agreement (Masterworks 001, LLC)

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Rejection or Termination. The payment of the Subscription Amount (or, in the case of rejection of a portion of the Subscriber’s subscription, the part of the payment relating to such rejected portion) will be returned, without interest, but subject to deduction of third third-party processing fees, if any, if Subscriber’s subscription is rejected in whole or in part or if the Offering is terminated or canceled. If a subscription was made in a form of currency other than U.S. dollars, you will receive such payment in the form of a check in U.S. dollars via U.S. mail or, in our sole discretion, the currency in which the subscription was made. If we elect to make such payment in a currency other than U.S. dollars, we will use the same process we used to convert the subscription into U.S. dollars to convert the U.S. dollars back into the original currency and such amounts will be refunded to you. You will bear third party processing and exchange costs, if applicable.

Appears in 1 contract

Samples: Subscription Agreement

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