This Reservation Agreement (this “Agreement”) between the person or entity identified below or on the online acknowledgment and acceptance form submitted along with this Agreement (“you” or “your”) and Alkane Truck Company (“us,” “we” or “Alkane”), located at 4605 C. Oleander Drive, Suite 203, Myrtle Beach, South Carolina, 29577, U.S.A., is for your reservation of an Alkane Dominator™.
By entering into this Reservation Agreement you hereby confirm that you wish to reserve an Alkane Dominator™ (specifications can be viewed at alkanedominator.com).
- Nature of Agreement; Non-Binding Reservation Payment.
The Reservation Payment is REFUNDABLE in accordance with the terms of the last sentence of Section 5 below and provides you with the benefits in Section 4 below depending on the level of your payment. This Agreement does not constitute an agreement for the sale of a vehicle and does not lock in pricing, a production slot, or an estimated delivery date. You are under no obligation to purchase a vehicle from us, and we are under no obligation to supply you with a vehicle. If and when we notify you of the availability of the vehicle and you wish to proceed with the purchase, such sale and purchase will be governed by a separate and legally binding Purchase Agreement between you and us or between you and an authorized Alkane dealer. In the event a purchase is made, your reservation payment plus a bonus equal to 50% of your reservation payment will be credited against the purchase price.
- Effective Date; Reservation Process.
This Agreement is formed and becomes effective when we receive both your validly executed Agreement and confirmation that your reservation payment in the amount and form stated in the payment instructions provided to you in connection with this Agreement (“Payment Instructions”) has been received by [________] (the “Escrow Agent”), who will hold such reservation payment in a separate escrow account until released in accordance with this Agreement. You may execute this Agreement by either: (i) hand-delivering or sending a signed Agreement to us by facsimile, email or prepaid postage; or (ii) by acknowledging and accepting this Agreement online. We will be deemed to have received your Agreement at the time of actual receipt by Alkane. You may make your reservation payment by any means described in the Payment Instructions. Once this Agreement becomes effective, you will be placed on the reservations list.
- Reservation Payment Amount.
Depending on the level of your reservation payment, you will be entitled to the following benefits: [To be discussed]
- A reservation payment of $1,000.00 to $2,999.99 entitles you to a priority delivery date based upon the date we receive your completed and executed Agreement and full payment. You will also receive a limited edition Alkane Dominator™ t-shirt and bumper sticker. In addition, if you purchase an Alkane Dominator™, a bonus of 50% of your reservation payment will be credited against the purchase price.
- A reservation payment of $3,000.00 to $4,999.99 entitles you to all the benefits in Section A above, plus you will be given a priority delivery date ahead of all of the participants in Section A above.
- A reservation payment of $5,000.00 or more entitles you to all the benefits in Sections A and B above, plus you will be given a priority delivery date ahead of all of the participants in Sections A and B above. [Note: Is there a “cap” amount for reservations considering we are crediting 50%?]
- Order Process.
When the start of production of your reservation nears, we will ask you to confirm your option selections and provide full details regarding the legal purchaser of the vehicle. Alkane will create an order for your vehicle containing the information provided by you, and a Purchase Agreement indicating the estimated purchase price of your vehicle, taking into account the base price of the model and any options included or that you select, plus estimates of any applicable taxes, duties, transport and delivery charges, and any other applicable fees. Alkane will then submit to you the order and the Purchase Agreement for your review. If you wish to proceed and purchase the vehicle, you must sign and return the Purchase Agreement together with any amounts that are then required to be paid. Production of your vehicle will then be commenced and your additional deposit payable under the Purchase Agreement (together with your reservation payment) will be held by Alkane as a non-refundable deposit (to the extent permitted by applicable law). These procedures may be subject to change. Subject to the following sentence, if Alkane has not submitted to you an order and Purchase Agreement by [January 31, 2017], the Escrow Agent will refund your reservation payment upon your written request to do so. If Alkane submits to you an order and Purchase Agreement on or prior to [January 31, 2017] or prior to the date of receipt by Escrow Agent of a written request for refund in accordance with the previous sentence, then the Escrow Agent will release your reservation payment from the escrow account and pay such amount to Alkane (at which time such reservation payment shall become non-refundable to the extent permitted by applicable law).
- Purchase Price.
Base vehicle and/or option 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.
- Deferral and Non-Transferability.
If you do not wish to enter into a Purchase Agreement at the time you are contacted by Alkane, 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); provided, however, you will not be entitled to a refund of the reservation payment. If you do not communicate your decision to us within ten (10) days of the date we send you an order and Purchase Agreement for your vehicle, you will automatically be granted such a deferral. This Agreement is not transferable or assignable to another party without the prior written approval of Alkane.
We will establish your reservation sequence position based upon the date of receipt of a fully executed Reservation Agreement and your payment. We may decline reservations to avoid over-subscription or as we deem appropriate in our sole discretion. If your reservation is declined, you will be notified and your Reservation Payment will be refunded.
- Your Details.
- 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 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 of damage of 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 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 us.
YOU UNDERSTAND THAT ALKANE MAY NOT HAVE COMPLETED THE DEVELOPMENT OF THE VEHICLE OR BEGUN MANUFACTURING THE VEHICLE AT THE TIME OF YOUR RESERVATION.
- Governing Law and Jurisdiction.
This Agreement is governed by the laws of the State of South Carolina, U.S.A., without regard to its conflict of laws provisions. Both parties consent to the exclusive jurisdiction and venue of the state and federal courts in Horry County, South Carolina, U.S.A.