Membership Agreement
This Membership Agreement (the “Agreement”) is between The Sevens Collective, Inc. hereinafter referred to as the (Company), and the undersigned applicant hereinafter referred to as (Member). This Agreement includes and incorporates by reference (i) provisions, (ii) membership agreement terms and conditions, and (iii) Company guidelines as now in effect and as amended by the Company from time to time.
Whereas, the Company owns and operates a privately held company that is home to multiple private investment clubs, along with an ecosystem of networked organizations. This Agreement sets forth the terms and conditions,
And Whereas, all individuals, companies, and organizations choosing to become members shall acknowledge that their actions and transactions within the ecosystem could be inherently risky. By becoming a member, you acknowledge and accept that the value of any services and/or investment activities can fluctuate and may result in financial losses. The Company shall not be held legally responsible for any losses incurred by members, either locally or globally. Each member is solely responsible for their own decisions and bears the risks associated with such decisions.
MEMBERSHIP
Membership Process.
It is understood that the Member has successfully completed an NDA, Interview, and Membership Application prior to receiving this Agreement.
Board.
The Board is authorized to make all decisions regarding the Company’s operations and legal affairs, including but not limited to (a) the sale, development, lease or other disposition of the Company's assets; (b) the purchase or other acquisition of other assets of all kinds; (c) the management of all or any part of the Company's assets; (d) the borrowing of money and the granting of security interests in the Company's assets; (e) the prepayment, refinancing or extension of any loan affecting the Company's assets; (f) the compromise or release of any of the Company's claims or debts; and, (g) the employment of persons, firms or corporations for the operation and management of the company's business. Managers are authorized to execute and deliver (a) all contracts, conveyances, assignments leases, sub-leases, franchise agreements, licensing agreements, management contracts and maintenance contracts covering or affecting the Company's assets; (b) all checks, drafts and other orders for the payment of the Company's funds; (c) all promissory notes, loans, security agreements and other similar documents; and, (d) all other instruments of any other kind relating to the Company's business.
Admission of Members.
Members may only be admitted by referral to the Company and with majority consent of the Board which is to be constituted by a two thirds (66%) vote.
Limited Liability.
Except as otherwise expressly required by Delaware law, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be the debts, obligations and liabilities solely of the Company, and neither any Member shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member of the Company.
Membership Terms.
This Agreement does NOT require a minimum term. Memberships have the freedom to withdraw from the membership digitally on the website without written notice. Without canceling your membership, it will automatically renew monthly and you will be charged a membership fee. However, Member must acknowledge that there is no guarantee that if/when they wish to reactivate their membership that they will be accepted. Those wishing to reactivate must meet with a board member and a board vote will be taken to determine the results of the reactivation.
Membership Onboarding Fee.
The Member has agreed to purchase a membership. The Member shall be required to pay an initial membership onboarding fee of seventy-seven dollars ($77) USD. The onboarding fee is non-refundable. The Member will execute the financial details of the membership on this Membership Agreement and will receive a fully executed copy via email once executed.
Member Rights.
The Member acknowledges that membership in the Company does not give the Member a direct equity interest in the Company, the Member’s potential equity interest lies only in the Projects and Funds by which the proper participation has been made.
Right to Submit Projects.
All Members have the right to submit projects and funds that fall under the scope of sports, entertainment, real estate, media, and technology. All submissions must be made with complete data rooms and include all of the required information for the Company’s board and partners to perform due diligence.
Right to Attend Events.
All Members have the right to attend Company and/or Company Sponsored events around the world. It is to be understood that only Platinum Members will receive free access to these events. All Company events are private, upscale, and have a fee for attendance.
Right to Industry Referrals.
All Members have the right to formally request that the Company facilitate the referral to individuals within our network and resource capabilities. The Company will serve as the liaison for the transaction.
Right to Submit Professional Services.
All Members who possess the required credentials have the right to become Gold or Silver members and be added to our network of professional service providers.
COMPANY
Management.
While each Member may choose to participate or not in referrals and other opportunities, the Company’s Board shall provide oversight and management over ALL the affairs and transactions that occur within the ecosystem.
Operations.
Operations of the Company shall be conducted by a team of industry professionals that will be appointed by the Board. Managers of the Company shall be compensated from the Member’s monthly dues, event revenue, transaction fees, and carry fees associated with the exit event profits from Projects and Funds.
Company Rights.
The Company reserves the right to revoke all membership privileges at-will. Upon termination, any Member’s equity interest remains and regular dividend, distribution, and/or exit payments will continue. Memberships may be terminated and revoked by the Company for any reason including, but not limited to, failure to pay membership fees when due and failure to abide by the Company rules.
Rights To Limit Memberships.
The Company reserves the right to limit the number of members to any level that it deems appropriate. In the event that the Company receives membership applications in excess of the Company’s maximums, a waiting list shall be established. As additional memberships become available, the applicants on the waiting list will be offered membership in the order in which their applications were received.
CONDITIONS
Mutual Confidentiality.
All Members agree to endeavor to take all reasonable measures to keep in confidence the execution, terms, and conditions as well as performance of this Agreement (hereinafter referred to as “Confidential Information”), and shall not disclose,make available or assign such Confidential Information to any third party without the prior written consent of a Member of the Board.
Mutual Indemnification.
All Members agree to indemnify and hold harmless one another which includes The Sevens Collective, its Partners, Board Members, Members, and any affiliated companies, from any and all potential losses, liabilities, claims, actions, and expenses, whether arising locally or globally.
Severability.
If any provision of this Agreement is held unenforceable, such provision or portion shall be severed from the remainder of this Agreement, and such provision shall not affect the other provisions of the Agreement.
Disclaimer.
Any information or materials provided by the Company, its Board, its Partners, or any affiliated companies are for informational purposes only and should not be considered as financial or investment advice. Members are encouraged to conduct their own due diligence and seek professional advice before making any membership decisions.
Right To Amend.
The Company reserves the right to modify or amend these rules and regulations at any time, with or without prior notice to the Members. Such modifications or amendments shall be deemed effective immediately upon communication to the Members.
Limitation of Liability.
To the greatest extent allowed by law, the Company shall have no liability for physical, fiscal, mental, or psychological damage, loss, or theft to Members in any way arising from being a Member of the Company, the Agreement, the Rules and Regulations, or the Application.
Arbitration.
In the event of any disputes arising between the Company and its Members, they shall be subject to binding arbitration in the state of Delaware, in accordance with the rules and procedures of the American Arbitration Association. The decision of the arbitrator shall be final and binding upon both parties.
Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.
Entire Agreement.
This Agreement contains the entire agreement of the parties with respect to the subject matter hereof and supersedes any discussions, offers, proposals, agreements or promises with respect thereto. This Agreement may be modified only by a written amendment signed by you and a Board Member. Employees are not authorized to make any independent agreements.
By becoming a member of The Sevens Collective, you acknowledge that you have read, understood, and agree to abide by these above stated rules and regulations. These rules and regulations shall govern the relationship between the Company and its Members and supersede any previous agreements or understandings, whether written or oral. You agree to be bound by the Membership Agreement Terms and Conditions, and all the above of this Agreement. This Agreement will become effective when signed by you and the Company.
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