RECREATIONAL SPEEDERTM RESERVATION AGREEMENT
This Recreational Version SpeederTM Reservation Agreement between you and JetPack Aviation Corporation (we or us), is for your reservation to place a SpeederTMTM (the “SpeederTM”) order with us. As the SpeederTM enters production, we will contact you to formally place your order.
By entering into this SpeederTM Reservation Agreement you are making a reservation to place a SpeederTM order with us. This Agreement does not constitute the sale of any vehicle.
2. Nature of Agreement; Non-Binding Reservation Payment
The Reservation Payment is fully refundable at any time (for example, if you choose to cancel or abandon your reservation, or if we decline to maintain you as a reservation holder) on 60 days notice. This Agreement does not constitute an agreement for the sale of a SpeederTM and does not lock in pricing, a production slot, or an estimated delivery date. You are under no obligation to purchase a SpeederTM from us, and we are under no obligation to sell you a SpeederTM. If and when we notify you that it is time to place your order for the SpeederTM and you wish to proceed with the purchase of a SpeederTM, such sale and purchase will be governed by a separate and legally binding Purchase Agreement between you and us.
3. Effective Date; Reservation Process
This Agreement becomes effective when we receive both your: (1) validly executed Agreement and (2) Reservation Payment in the amount and form stated in the Payment Instructions provided to you during the reservation process. You may execute this Agreement by either: (i) acknowledging and accepting this Agreement online or; (ii) submitting a signed Agreement to us. You may make your Reservation Payment by the means described in the Payment Instructions. Once this Agreement becomes effective, you will be placed on the SpeederTM reservations list and will receive communications about the SpeederTM program.
4. Order Process
This Agreement is not for the sale of an aircraft. When the start of production for your reservation nears, we will ask you to configure your options, if options are offered, and to provide full details of the legal purchaser of the SpeederTM. We will create an order for your SpeederTM containing the information provided by you, and a Purchase Agreement indicating the estimated purchase price of your SpeederTM, taking into account the base price of the SpeederTM and any options included, if offered or that you select, plus estimates of any applicable taxes, duties, training, transport and delivery charges, and any other applicable fees. We will then submit to you the order and the Purchase Agreement for your review. If you wish to proceed and purchase the SpeederTM, you must sign and return the Purchase Agreement together with any required order payments. Production of your SpeederTM will then commence and your order payment under the Purchase Agreement will become non-refundable (to the extent permitted by applicable law). At the time you enter into the Purchase Agreement, you may, at your sole option, notify us that you would like to take your Reservation Payment and apply it toward your order payment. These procedures may be subject to change.
5. Purchase Price
Pricing may not be available at the time of your reservation and, if pricing is available, it is subject to change until agreed upon in an executed Purchase Agreement.
6. Deferral and Non-Transferability
If you do not wish to enter into a Purchase Agreement at the time that you are contacted by us, you have the option to relinquish your reservation sequence position and defer to a later position to be determined by us (only one deferral is permitted). If you do not communicate your decision to us within ten (10) days of notification to place your order, you will automatically be granted your one deferral and we will defer your reservation position. This Agreement is not transferable or assignable to another party without our prior written approval.
We will establish your reservation sequence position in our sole discretion. We may decline reservations to avoid over-subscription or as we deem appropriate in our sole discretion. If your reservation is declined or we decide to cancel your reservation, you will be notified and your Reservation Payment will be refunded within 60 days.
8. Your Details
9. Limitation of Liability
To the maximum extent permitted by applicable law, we make no warranty of any kind in connection with this Agreement or its subject matter. Under no circumstances will we be held liable for any direct, indirect or consequential loss or damage, including any and all (a) loss of opportunity (including loss of contract or right to offer or tender);
(b) lost opportunity cost; (c) loss of business; (d) reduction or damage to goodwill; (e) damage to name or reputation; (f) loss or corruption of data, and regardless of whether any or all of these circumstances are considered to be indirect or consequential losses or damage, in contract, tort (including negligence), under any statute or law or otherwise arising out of our breach of this Agreement, even if we have been advised of the possibility of occurrences which would or might lead to such loss or damages. If we are held liable for any damages related to your reservation or this Agreement, your sole and exclusive remedy will be limited to reimbursement of the Reservation Payment paid to and held by us.
You understand that we may not have completed the development of the SpeederTM or begun manufacturing the SpeederTM at the time of your reservation. You also acknowledge that, we currently do not know if manufacturing will commence or the estimated date of delivery of the SpeederTM. You also agree that we will not hold your Reservation Payment separately or in an escrow or trust fund or pay any interest on Reservation Payments.
11. Governing Law and Jurisdiction
This Agreement is governed by the laws of the State of California, U.S.A. without regard to its conflict of laws provisions. The English version of this Agreement shall govern to the extent not prohibited by law in your jurisdiction.