H2 FINANCING AGREEMENT
Financing Terms of Agreement
By agreeing to take part in our financing program, upon your initial deposit the following terms are agreed upon and binding.
1. Loan Amount. The Parties agree the Lender (WWG Inc.) will loan the Borrower (Customer) an amount between $2500.00 to $5000.00 depending on the product selection for their order.
2. Interest Rate. At this time, we are not charging interest on any borrowed amounts for our financing customers. We hold the right to change this at any time without notice, but any customers who hold a current financing agreement will remain unaffected.
3. Loan Term. Your loan term will range depending on the product package you purchased. When purchasing our most popular product the Elixir Series 2, your loan term will approximately be 24 months, initial deposit of $899.00 before taxes, and $120.00/ month thereafter until the remainder of the balance is paid for in full.
The Parties agree the Borrower shall pay the Lender $120.00 per month on the 20th day of each month.
4. Late Payments. Payment shall be considered late if received by the Lender 7 days after its due date. The Lender will have the option to charge a late fee of 10% of the instalment amount ($120.00).
5. Default. If the Borrower defaults on its payments and fails to cure said default within a reasonable amount of time, the Lender will have the option to declare the entire remaining amount of principal and any accrued interest immediately due and payable.
6. Prepayment. The Borrower will not be penalized for early payment.
7. Representations and Warranties. Both Parties represent that they are fully authorized to enter into this Agreement. The performance and obligations of either Party will not violate or infringe upon the rights of any third party or violate any other agreement between the Parties, individually, and any other person, organization, or business or any law or governmental regulation.
8. Severability. In the event any provision of this Agreement is deemed invalid or unenforceable, in whole or in part, that part shall be severed from the remainder of the Agreement and all other provisions shall continue in full force and effect as valid and enforceable.
6. Waiver. The failure by either party to exercise any right, power, or privilege under the terms of this Agreement will not be construed as a waiver of any subsequent or future exercise of that right, power, or privilege or the exercise of any other right, power, or privilege.
7. Legal Fees. In the event of a dispute resulting in legal action, the successful Party will be entitled to its legal fees, including, but not limited to its attorneys’ fees.
8. Legal and Binding Agreement. This Agreement is legal and binding between the Parties as stated above. This Agreement may be entered into and is legal and binding in the United States, Canada and throughout Europe. The Parties each represent that they have the authority to enter into this Agreement.
9. Governing Law and Jurisdiction. The Parties agree that this Agreement shall be governed by the State and/or Country in which both Parties reside/do business. In the event that the Parties reside/do business in different States and/or Countries, this Agreement shall be governed by Canadian law.
10. Entire Agreement. The Parties acknowledge and agree that this Agreement represents the entire agreement between the Parties.