GENERAL TERMS & CONDITIONS OF BUSINESS
- Klik2go d.o.o. - KLIK2GO -
BY PLACING AN ORDER TO Klik2go d.o.o., TO PROMOTE AND SELL COUPONS/OPTIONS, GRANTOR ENTERS INTO A CONTRACTUAL RELATIONSHIP WITH MV AND EXPRESSLY SUBMITS TO THE GENERAL TERMS & CONDITIONS – KLIK2GO d.o.o.
IN THE VERSION THAT IS VALID AT THE TIME,
(CURRENTLY THE VERSION DATED MARCH, 1st, 2015), WHICH SHALL APPLY TO ALL ORDERS TO PROMOTE AND SELL GRANTORS’ COUPONS/OPTIONS FOR DISCOUNTED HOTEL AND OTHER SERVICES.
AT THE SAME TIME THE CONTRACTING PARTY EXPRESSLY DECLARES THAT THIS IS TO THE EXCLUSION OF ITS OWN AND ANY OTHER GENERAL TERMS AND CONDITIONS OF BUSINESS.
Whenever used in this General Terms & Conditions – Klik2go d.o.o., the schedules, or any ancillary document thereto, the following terms, unless the subject matter or context otherwise requires, shall have the following meanings:
- GTC-K, means General Terms & Conditions, - Klik2go d.o.o., as published at “http://www.klik2go.si/” and amended, modified or supplemented from time to time;
- GRANTOR, means a person, generally a hotel-keeping company, which has granted call options and has authorized Klik2go d.o.o. to sell them to third parties – Customers/Optionees,
- K2G, means Klik2go d.o.o., a company organized and existing under the laws of Slovenia, with its head office located at Cesta Dolomitskega odreda 10c, 1000 Ljubljana, Slovenija, as an independent contractor, which for the consideration and subject to the terms and conditions contained herein, shall seek Customers – buyers of Grantor’s options in its own name and for its own account.
- CUSTOMER, OPTIONEE and/or THIRD PARTY BENEFICIARY, means any person who orders and buys Grantor’s option/s from the K2G and acquires rights to direct use of services,
- CALL OPTION, means a contractual relation in which the buyer of the option -Customer/Optionee has the right, but not the obligation, to buy specified services of Grantor at a specified price (Strike Price) within a certain period of time (until expiration of the option).
- COUPON, means a certificate of Call Option, issued by Grantor as a hotel-keeping company, sold to Customer/Optionee by K2G and entitling the holder to obtain discount prices for hotel services during the Vesting period.
- E-COUPON, means an electronic Coupon,
- FACE VALUE of Coupon means the value, as marked on the Coupon.
- STRIKE PRICE, means the fixed price at which the Customer/Optionee may purchase Grantor’s services,
- ENTRY PAGE means a Web page where readers arrive at “http://www.klik2go.si/” site from other domains.
- IN WRITING, includes facsimile, e-mail or any other recording by electronic means.
- PERSON, means person and/or legal entity
- REGISTERED USER, means a person who logs in a »Klik2go d.o.o.« website http://www.klik2go.si/, and accepts the GTC-K therein. Logging in entitles Registered users to receive Newsletters of the newest offers available and to purchase one or more Coupon/s.
- TERRITORY, means the following geographic area: Worldwide.
- VESTING PERIOD means the period in which the Coupon may be exercised, i.e. from the day the Customer purchases the Coupon from K2G, until the expiration date marked on Coupon.
Words of the masculine gender include the feminine and neuter gender; words in the singular number include the plural and words in the plural number include the singular.
The division of this GTC-K into articles and insertion of headings is for convenience and reference only and shall not affect the construction or interpretation of this GTC-K.
- SCOPE OF GTC-K
- These General Terms & Conditions – Klik2go d.o.o. (“GTC-K”) shall apply to all orders submitted or to be submitted by any Grantor for any service or item offered by K2G to Customers on or via the “KLIK2GO”website - http://www.klik2go.si/. and/or other “KLIK2GO”marketing and sales channels, offered by K2G from time to time.
- The subject matter of this GTC-K is contractual business relation between parties on the “KLIK2GO” project, where Grantor grants Call Options for special discounted rates of hotel services to Optionees/Customers and authorizes K2G to sell the Call Options to Optionees/Customers at “KLIK2GO” web site “http://www.klik2go.si/” and through other K2G’s media and marketing channels in its own name and for its own account.
- K2G shall sell the Call Options as discount coupons (Coupons) to Customers. Retail price of each Call Option/Coupon shall be determined in Grantor’s orders, accepted by K2G.
- Grantor shall provide K2G the agreed quantity of Coupons as well as relevant information about hotel and other services granted.
- K2G shall also provide a translation of Grantor’s information on hotel services offered in languages of countries where K2G choose to promote Grantor’s offer, as well as producing and broadcasting an advertisement/s of these services.
II. GRANTING OF CALL OPTION
Grantor grants to every Customer who purchases a Coupon from K2G, a Call Option to purchase Grantor's services, stated on the Coupon, for a Strike Price, stated on the Coupon, anytime during the term of validity of Coupon, subject to prior Grantor's confirmation of reservation.
2.2 AUTHORISATION TO SELL OPTIONS
Grantor authorizes K2G to sell the Options/Coupons issued by the Grantor to Customers at retail prices determined in Grantor’s orders, accepted by K2G. Coupons entitle their holder to discount prices of hotel services of the Grantor during the Vesting period.
2.3 COMMENCEMENT OF EXERCISABILITY
The Option shall become vested and exercisable on the day K2G sells the Coupon to the Customer, subject to prior Grantor's confirmation of reservation.
2.4 DURATION OF EXERCISABILITY
The Option shall remain vested and exercisable anytime, during the term of validity, (subject to prior Grantor's confirmation of reservation), until the expiration date marked on Coupon.
2.5 EXPIRATION OF OPTION
The Option expires and may not be exercised to any extent by anyone after the expiration date marked on Coupon.
2.6 RESTRICTIONS & LIMITATIONS
Optionees/Customers may exercise the Call Option anytime during the term of validity, but subject to prior Grantor's confirmation of reservation.
2.7 EXERCISE OF THE OPTION
Optionees/Customers exercise the Call Option by booking a valid reservation with the Grantor. After Grantor's confirmation of reservation, Optionee/Customer shall pay the remaining price of services (Strike Price), booked upon arrival to Grantor’s hotel or other facility, resulting in the Coupon being fully used and Call Option deemed to be exercised.
2.8 STRIKE PRICE
The Strike Price is the fixed price at which the Customer/Optionee may purchase Grantor’s services, and is listed on the Coupon/Call Option.
2.9 TRANSFERABILITY OF THE OPTION
The Option may be sold, assigned or transferred by handing over the Coupon to a new holder, prior Grantor's confirmation of reservation, provided it has not been exercised, nor has expired. During the lifetime of the Optionee, only the Optionee may exercise the Option. In case of the death of the Optionee, the Option may, prior to the expiration, be exercised by any person empowered to do so under the deceased Optionee's will or under the applicable laws.
Since K2G is an authorized dealer of the Options and not the Optionee/Beneficiary, the consideration for Call Options granted is the burden of a Customer/Optionee, such consideration being equal to the retail price of the Option/Coupon, paid to K2G
The Grantor is obliged to issue Coupons, each with face value of EUR and validity as marked on each Coupon.
The face value of each Coupon equals to prices that apply to Grantor's hotel services, offered Exclusively, Weekly or Regularly. Regular prices are prices stated on Entry Page of http://www.klik2go.si/domain.
V. ORDERS/GRANT OF OPTIONS
- Grantor shall grant Call Options, signed by authorized personnel and send them to K2G in written as Orders to sell the Options as Coupons, by fax or mail with registered mail. Orders will contain all necessary information on services of Grantor’s Call Options.
- K2G shall have no obligation to accept the Order/s for sale of Options granted and reserves the right to reject any orders in full or in part. The acceptance or rejection of any particular Order is a matter of business policy of K2G solely.
- Confirmation of orders accepted by K2G shall be sent to the address of the Grantor by mail or by fax.
- By placing an order to sell the Options as Coupons to K2G., Grantor each time expressly states, declares and confirms that it has read the GTC-K as published at “http://www.klik2go.si/” and amended, modified or supplemented from time to time and accepts the GTC-K as a binding contract with the K2G
- It is Grantor’s responsibility to verify the latest version of GTC-K, published at http://www.klik2go.si/. However, Grantor shall be notified by Klik2go website of any amendment, modification or supplementation of GTC-K. If Grantor does not object in writing within 3 banking days from the said notification, it shall be deemed that Grantor accepts the altered provisions of GTC-K.
VI. RIGHTS OF OPTIONEE AS A THIRD PARTY BENEFICIARY
- Grantor represents and warrants that the Call Option/s it has granted constitutes rights of Customers/Optionees as third parties – beneficiaries, who according to Article 126 of Slovenian Code of Obligations acquire their own separate right towards the Grantor. By purchasing the Coupon/Option from K2G, Optionees accept their benefits as third parties.
- Optionees' right of action to enforce its benefit towards the Grantor directly does not affect the rights of K2G to enforce this GTC-K in relation to the Grantor.
- If Grantor's obligations towards Customer/Optionee are breached by non-performance of the Grantor, the Customer/Optionee as a beneficiary can sue the Grantor on grounds stated in provision 6.1. hereto. Customer/Optionee shall therefore be entitled to enforce their rights from acquired Call Option towards the Grantor only. K2G shall be in no obligation towards to Customer/Optionee, except to verify the existence and integrity of Call Option granted by the Grantor.
- Grantor accepts and confirms his obligations towards both the Optionees and K2G by placing order/s to sell the Options as Coupons to K2G.
VII WEB SITE PUBLISHING OF GRANTOR’S OFFER
7.1. By accepting order/s to sell Grantor’s offered Call Options, K2G confirms to publish Grantor’s information on hotel services offered at “Klik2go” 's domain http://www.klik2go.si/. K2G shall be free to select the content and scope of Grantor’s documentation received for publishing purposes at its sole discretion.
7.2. Publishing of Grantor’s offered options on “Klik2go” 's domain, constitutes a commencement of sales process to Registered users of “Klik2go”. The Grantor is entitled to use the web interface www.klik2go.si/hotel upon registration on website.
VIII OBLIGATIONS OF K2G
8.1 THE KLIK2GO OFFER
K2G shall distribute Grantor’s offers to registered users by e-mail and other sales channels at its own convenience, applying personal data from own databases. Offers shall be sent separately for each country of the Territory to Registered users stored in that country’s database.
K2G is the supervisor of personal data of registered users. Grantor is in no contractual relation with K2G, regarding personal data processing and has no rights whatsoever regarding K2G’s databases of personal data of registered users.
8.2 TRANSLATION SERVICES
For “Klik2go” web publishing purposes, K2G shall also provide a translation of Grantor’s offer and details of hotel services in languages of all countries in the Territory where K2G choose to promote Grantor’s offers.
During the “Klik2go” campaign, K2G shall publish an advertisement for Grantor’s offer on FACEBOOK and GOOGLE, incorporate the offer into email marketing and viral prize contests, as well as other media activities performed by K2G
8.4 INTELECTUAL PROPERTY RIGHTS
- The “Klik2go” website contains material which is owned by or licensed to K2G, which shall retain all title, copyright and other proprietary rights in the advertisements, advertising materials and translations thereof. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction is prohibited other than in accordance with the copyright notice.
- Grantor shall not acquire any rights in the advertisements, advertising materials and translations, than those, especially granted and specified.
- Terms and conditions of the “Klik2go” website, apply to relations between a Customer – holder of a Coupon and K2G as a dealer of Options/Coupons.
- K2G has no legal obligations towards a Customer/Optionee, except that K2G represents the fact that Coupons/Call Options have been actually issued by the Grantor.
IX. OBLIGATIONS OF GRANTOR
9.1 PRESENTATION MATERIALS
- Grantor shall submit FInx. photographs, (at least 7 photos, minimal resolution 640x480px), and textual presentation about Grantor’s offer for purposes of presentation and advertising.
- Grantor shall cause the presentation materials from clause 9.1., to be delivered to K2G within 3 days of K2G’s acceptance of each Grantor’s order. If this deadline is not met, the offer shall not be published until delivery is properly executed.
- Grantor represents and warrants to K2G that it owns, or has other undisputed valid legal title, to copyrights and other Intellectual Property Rights (IPR) on all presentation materials and no third party has any right whatsoever to any of or part of presentation materials.
- K2G will give Grantor a written notice of any claim filed by a third party, demanding copyrights or any other IPR and invite Grantor to legally manage the dispute resolution. If Grantor does not comply, K2G shall manage the dispute resolution with its own lawyers. Regardless of who manages the dispute resolution, the Grantor shall reimburse K2G for all costs and expenses suffered, including legal fees, and cover all the damages, reasonably proven and documented.
- The Grantor shall be solely and entirely responsible to Customers and authorities in the Territory for any and all claims and statements of facts in published offer of Grantor’s services, and represents and warrants to K2G that all statements in its offer are true, correct and not partial, misleading or deceptive.
- Performance of K2G’s duties shall be deemed flawless if the presentation and advertisement(s) are published in a way and on the date stated in K2G’s notice to the Grantor.
- Grantor may object to performance of K2G by sending a written notice to K2G within 1 (one) business day from the date of publishing of the presentation and advertisement(s). If no proper written objection is given within the said time period, Grantor’s obligations from clause 9.(5). shall be triggered.
9.2 HOTEL AND OTHER SERVICES' CAPACITIES
Grantor shall be entirely responsible to provide sufficient hotel and other services' capacities in relation to the quantity of issued Coupons. It is Grantor's obligation and sole responsibility, to provide Customers adequate and complete services as described in Grantor's offer, during the whole term of validity of issued Coupons.
Grantor agrees to keep K2G at all times fully informed of all details of its offer and services available, due to necessity of adjusting the advertisement(s) and presentation of new info to potential Customers.
9.4 CUSTOMER COMPLAINTS
- Grantor shall accept and manage all Customers’ complaints, complying with Customer’s protection laws and other legislation in force.
- All costs and expenses regarding resolution of Customers’ complaints, (money refunds, alterations of schedule or scope of services, etc.), arising from Grantor’s offer and services provided, shall burden the Grantor solely. The same applies for any governmental or judicially imposed fines, fees, restrictions, modifications, etc.
- All refunds to Customers will be executed entirely by the Grantor as its burden only. K2G shall have no obligation to refund the cost of Coupons purchased by Customers.
-- K2G shall not provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials published or offered on “Klik2go" website for any particular purpose. Such information and materials may contain inaccuracies or errors and K2G expressly excludes liability for any such inaccuracies or errors to the fullest extent permitted by law.
- Customer’s use of any information or materials on “Klik2go” website is entirely at Grantor’s own risk, for which K2G shall not be liable. It shall be Grantor’s own responsibility to ensure that any products, services or information available through “Klik2go” website meet its specific requirements.
9.5 ACTIVATION OF COUPONS
Grantor agrees to activate each particular Coupon upon commencement of providing the services to the Customer. A Coupon is activated by Grantor entering a Coupon code into web interfacewww.klik2go.si/hotel. An activated Coupon is considered fully used and Call Option exercised.
9.6 EMPLOYEE INFORMING
Grantor shall educate and inform its employees, agents and contractors about rights of Customers regarding Coupons.
X. COUPONS PURCHASE PROCEDURE
Potential Customers shall place orders for Coupons/Options to K2G on “Klik2go” website. K2G shall sell and Customer shall purchase one or more Coupons incorporating Call Option/s, valid for the time period marked on each Coupon.
When K2G receives the payment of purchase price from the Customer, K2G shall issue to the Customer an electronic Coupon, i.e. “e-Coupon” and a receipt of payment. Customer shall receive e-Coupon in PDF file to his e mail address, accessible in his “Klik2go” profile on web page.
XI. EXCLUSIVE PRICE
Grantor represents and warrants to K2G that the price of Call Options in its offer, submitted to K2G, is the lowest price for this offer on the market anywhere in the world and Grantor shall not make a better offer on the market worldwide, during the term of this GTC-K, or until all Coupons are sold out.
XII. NO NUMERUS CLAUSUS OF SALES CHANNELS
K2G is entitled to place Grantor’s offer through any and all its sales and distribution channels that K2G considers appropriate at the time.
XIII. ASSIGNMENT OF THE GTC-M
Grantor expressly agrees, that K2G may at any time and in unlimited occasions assign the entire contractual relation between parties under this GTC-K, or any part of it, with all rights and obligations under this GTC-K, to any third party/parties (assignee) in any country worldwide, which becomes a new holder of all rights and obligations at designated territory, instead of the assignor.
By assignment of this GTC-K, the contractual relation is assigned to Assignee each time upon Grantor’s receipt of written notice of assignment. No further consent or approval is required.
XIV. REPRESENTATIONS AND WARRANTIES
14.1 The Grantor represents and warrants that:
(a) it has the full power and authority to accept this GTC-K and to incur its obligations and perform and observe its obligation under this GTC-K;
(b) this GTC-K constitutes the legal, valid and binding obligations of the Grantor, enforceable against the Grantor in accordance with terms hereof;
(c) the acceptance and performance of this GTC-K have been duly authorized by all necessary action, including corporate approvals and Board resolutions on the part of the Grantor;
(d) all authorizations, consents, approvals and licenses required for the acceptance and performance of this GTC-K have been duly obtained or granted and are in full force and ffect.
14.2 K2G represents and warrants that:
(a) it has the full power and authority to execute and deliver this GTC-K and to incur its obligations and perform and observe its obligation under this GTC-K;
(b) this GTC-K constitutes the legal, valid and binding obligations of K2G, enforceable against K2G in accordance with terms hereof;
(c) the execution and performance of this GTC-K have been duly authorized by all necessary action, including corporate approvals and Board resolutions on the part of K2G;
(d) all authorizations, consents, approvals and licenses required for the execution and performance of this GTC-K have been duly obtained or granted and are in full force and ffect.
- In the event of any breach by the Grantor of any representation, warranty, covenants of GTC-K made or given by the Grantor in this GTC-K, the Grantor undertakes to indemnify and hold harmless K2G to the extent of any and all damages (including all losses, costs, damages, fines, fees, penalties, out-of-pocket expenses under the applicable law, legal fees and xpenses of attorneys, accountants and other expenses) suffered or incurred by K2G, resulting from or consequent upon or relating to such breach of representation or warranty, covenant of GTC-K by the Grantor.
- Grantor will indemnify, hold harmless, and defend K2G’s integrity, rights and interests against any claim of any kind arising out of or related to this GTC-K or the breach of this GTC-K by Grantor.
XVI TERM AND TERMINATION
- This GTC-K is concluded for 12 months, commencing on the date the Grantor has received confirmation of order accepted by K2G, or until all Grantor’s Coupons are sold out, whichever the case may be.
- Notwithstanding the provision of 16.(1)., all contractual obligations of Grantor towards Customer/Optionee, remain in full legal validity and force during the Vesting Period, until the expiration date marked on Coupon.
- If there is a dispute about the number of Coupons being fully used, both K2G and Grantor may each extend the GTC-K for 3 consecutive months by written notice from one to another.
a) This GTC-K may be terminated before the expiration of 12 months;
- by written agreement of the Parties;
- by a non defaulting Party, upon default by the other Party in the performance of its obligations under this GTC-K or any of its attachments, if not excused or remedied within thirty (30) days of written notice requiring that breach to be rendered;
- by a Party, in the event of the other Party’s fundamental breach of this GTC-K that cannot be excused or remedied, by written notice. The GTC-K is terminated next day after the receipt of notice of termination;
- by a Party, upon the other Party being adjudged bankrupt, becoming insolvent, or upon filing a petition seeking its dissolution or liquidation. The GTC-K is terminated after 10 days of the receipt of notice of termination;
- by a Party, in the event of the other Party’s breach of clause 9.(8). The GTC-K is terminated on the day of the receipt of notice of termination;
b) Termination of this GTC-K for whatever reason shall neither release any Party hereto from any liabilities or obligations, which, pursuant to any provisions of this GTC-K, are to survive or be performed after termination, nor shall it release any Party from its liability to pay any sums of money accrued, due, and payable to the other Party or to discharge its then accrued and unfulfilled obligations.
c) Each party shall, within 30 (thirty) calendar days following the expiration or termination of this GTC-K, as the case may be, pay to the other party any unpaid sum, including any accrued interest.
d) Neither party will do anything to tarnish the reputation of the other, or otherwise bring the other Party into disrepute. This clause shall survive this GTC-K, regardless of the manner of termination and legal actions taken.
e) In case that a non defaulting Party has suffered any kind of damage or loss, as a consequence of default of the other party, including but not limited to any loss due to simple negligence, the defaulting Party shall fully compensate the non defaulting Party for all the loss and expenses, including legal fees.
f) In case that Grantor’s default of any of its obligations was intentional, the Grantor shall reimburse K2G for all advertising and similar costs and expenses suffered.
XVII NOTICE & LANGUAGE
- Any notice or other document to be given under this GTC-K shall be in English language in writing and shall only be deemed to have been duly given if received on domicile address of the party, either by facsimile or registered mail.
- English original is the only legally bounding the parties; translations in any other language are for convenience only and shall have no binding power.
By virtue of this GTC-K, the parties may have access to information that is confidential to one another ("Confidential Information"). Data and information, terms and pricing in this GTC-K or/and Attachments are identified as confidential.
Confidential Information shall not include information that:
- is or becomes a part of the public domain through no act or omission of the other party;
- was in the other party's lawful possession prior to the disclosure and had not been obtained by the other party directly or indirectly from the
- is lawfully disclosed to the other party by a third party without restriction on disclosure, or
- is independently developed by the other party.
The parties agree to hold Confidential Information in confidence during the term this GTC-K and for a period of 5 years after expiration or termination of this GTC-K. The parties agree, unless required by law, not to use itself or make each other's Confidential Information available in any form to any third party for any purpose other than the implementation of this GTC-K. Each party agrees to take all reasonable steps to ensure that Confidential Information is not disclosed or distributed by its employees or agents in violation of the terms of this GTC-K.
This Chapter XVIII shall survive for 5 years from date of expiration or termination of this GTC-K, whatever the cause may be.
XIX APPLICABLE LAW & JURISDICTION
19.1 APPLICABLE LAW
This GTC-K shall be governed by Slovenian Code of Obligations and other laws of Republic of Slovenia.
19.2 COMPETENT JURISDICTION
In case of any dispute arising from this GTC-K, the courts in Ljubljana, Slovenia shall have exclusive jurisdiction.
XX ENTIRE GTC-K
Parties agree that this GTC-K together with all attachments and annexes to it, as well as published on Klik2go website and not objected amendments and alterations, represents the complete agreement and supersedes all prior or contemporaneous agreements, warrants or representations between parties.
This GTC-K as published at “http://www.klik2go.si/”, may be amended, modified or supplemented by K2G anytime. If Grantor does not object in written to any alteration within 3 days from the publishing of alteration on Klik2go website, it is deemed it has accepted the new terms.
XXI FORCE MAJEURE
Neither party shall be liable to the other for failure or delay in the performance of a required obligation if such failure or delay is caused by act of God, fire, act of government or state, war, civil commotion, insurrection, embargo, prevention from or hindrance in obtaining any raw materials, energy or other supplies, riot, flood, natural disaster or other similar cause beyond party's control, provided that the party gives prompt written notice of such condition and resumes its performance as soon as possible, and provided further that the other party may terminate this GTC-K if such condition continues for a period of 30 (thirty) days.
The implementation of this GTC-K shall be suspended during the period in which the Force Majeure reason is in force.
XXII LIMITATION OF LIABILITY
To the maximum extent permitted by applicable law, neither K2G nor its suppliers and subcontractors shall be liable to Grantor/s or Customer/s or any other third party for any damages either direct, indirect, incidental, consequential or otherwise (including in each case, but not limited to, damages for the inability to use or access the services, loss of business, loss of profits, business interruption or the like), arising out of the use of or inability to use the Grantor’s services.
Notwithstanding any damages that Grantors or Customers or any other third party might incur for any reason whatsoever, the entire liability of K2G and any of its suppliers arising from sale or related to the Coupons/Options shall be limited to the amount actually paid by Customer to K2G for the Coupons concerned.
XXIII MISCELLANEOUS PROVISIONS
In all matters relating to this GTC-K, parties will act as independent contractors. Neither party will represent that it has any authority to assume or create any obligation, express or implied, on behalf of the other party, nor to represent the other party as agent, employee, franchisee, or in any other similar capacity.
Parties will keep each other up to date about any circumstance that may affect the performance of their obligations under this GTC-K , including the corporate status of their entities.
All taxes, duties, expenses and other charges payable in regard with the performance of this GTC-K shall be the burden of the Grantor.
Any term or condition of this GTC-K may be waived at any time by the party that is entitled to the benefit thereof. Such waiver must be in writing and must be executed by an authorized office of such party. A waiver on one occasion will not be deemed to be a waiver of the same or either under breach or non-fulfillment on a future occasion. All remedies, either under this GTC-K, or by law or otherwise afforded, will be cumulative and not alternative.
If any provision of this GTC-K shall be held illegal, invalid, void or unenforceable under any present or future law, provided that the rights or obligations of the parties under this GTC-K will not be materially and adversely affected thereby (a) such provision will be fully severable; (b) this GTC-K will be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part hereof; and (c) the remaining provisions of the GTC-K will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision.
THE EFFECTIVE DATE OF THIS GTC-K IS 15.03.2015