Common use of Failure to Obtain, Maintain or Renew Licenses and Permits Clause in Contracts

Failure to Obtain, Maintain or Renew Licenses and Permits. ‌ Although as of the date of starting of the Token sale there are no statutory requirements obliging MY PLACE X to receive any licenses and permits necessary for carrying out of its activity, there is the risk that such statutory requirements may be adopted in the future and may relate to any of MY PLACE X Parties. In this case, MY PLACE X business will depend on the continuing validity of such licenses and permits and its compliance with their terms. Regulatory authorities will exercise considerable discretion in the timing of license issuance and renewal and the monitoring of licensees’ compliance with license terms. Requirements which may by imposed by these authorities and which may require MY PLACE X to comply with numerous standards, recruit qualified personnel, maintain necessary technical equipment and quality control systems, monitor our operations, maintain appropriate filings and, upon request, submit appropriate information to the licensing authorities, may be costly and time-consuming and may result in delays in the commencement or continuation of operation of the Platform. Further, private individuals and the public at large possess rights to comment on and otherwise engage in the licensing process, including through intervention in courts and political pressure. Accordingly, the licenses MY PLACE X may need not be issued or renewed, or if issued or renewed, may not be issued or renewed in a timely fashion, or may involve requirements which restrict any MY PLACE X ability to conduct its operations or to do so profitably.

Failure to Obtain, Maintain or Renew Licenses and Permits. ‌ Although as of the date of starting of the Token sale there are no statutory requirements obliging MY PLACE X the Company to receive any licenses and permits necessary for carrying out of its activity, there is the risk that such statutory requirements may be adopted in the future and may relate to the Company and/or any of MY PLACE X Partiesthe Company Affiliates. In this case, MY PLACE X the Company and the Company Affiliates' business will depend on the continuing validity of such licenses and permits and its compliance with their terms. Regulatory authorities will may exercise considerable discretion in the timing of license issuance and renewal and the monitoring of licensees’ compliance with license terms. Requirements which may by be imposed by these authorities and which may require MY PLACE X the Company and any of the Company Affiliates to comply with numerous standards, recruit qualified personnel, maintain necessary technical equipment and quality control systems, monitor our operations, maintain appropriate filings and, upon request, submit appropriate information to the licensing authorities, may be costly and time-consuming and may result in delays in the commencement or continuation of operation of the PlatformTokens. Further, private individuals and the public at large possess the rights to comment on and otherwise engage in the licensing process, including through intervention in courts and political pressure. Accordingly, the licenses MY PLACE X the Company and/or any Company Affiliate may need may not be issued or renewed, or if issued or renewed, may not be issued or renewed in a timely fashion, or may involve requirements which restrict the Company and/or any MY PLACE X Company Affiliate's ability to conduct its operations or to do so profitably.

Failure to Obtain, Maintain or Renew Licenses and Permits. ‌ Although as of the date of starting of the Token sale Presale there are no statutory requirements obliging MY PLACE X Company to receive any licenses and permits necessary for carrying out of its activity, there is the risk that such statutory requirements may be adopted in the future and may relate to any of MY PLACE X Company Parties. In this case, MY PLACE X Company Parties' business will depend on the continuing validity of such licenses and permits and its compliance with their terms. Regulatory authorities will exercise considerable discretion in the timing of license issuance and renewal and the monitoring of licensees’ compliance with license terms. Requirements which may by be imposed by these authorities and which may require MY PLACE X any of Company Party to comply with numerous standards, recruit qualified personnel, maintain necessary technical equipment and quality control systems, monitor our operations, maintain appropriate filings and, upon request, submit appropriate information to the licensing authorities, may be costly and time-consuming and may result in delays in the commencement or continuation of operation of the Platform. Further, private individuals and the public at large possess rights to comment on and otherwise engage in the licensing process, including through intervention in courts and political pressure. Accordingly, the licenses MY PLACE X any Company Party may need may not be issued or renewed, or if issued or renewed, may not be issued or renewed in a timely fashion, or may involve requirements which restrict any MY PLACE X Company Party's ability to conduct its operations or to do so profitably.

Failure to Obtain, Maintain or Renew Licenses and Permits. ‌ Although as of the date of starting of the Token sale there are no statutory requirements obliging MY PLACE X Company to receive any licenses and permits necessary for carrying out of its activity, there is the risk that such statutory requirements may be adopted in the future and may relate to any of MY PLACE X Company Parties. In this case, MY PLACE X Company Parties' business will depend on the continuing validity of such licenses and permits and its compliance with their terms. Regulatory authorities will exercise considerable discretion in the timing of license issuance and renewal and the monitoring of licensees’ compliance with license terms. Requirements which may by imposed by these authorities and which may require MY PLACE X any of Company Party to comply with numerous standards, recruit qualified personnel, maintain necessary technical equipment and quality control systems, monitor our operations, maintain appropriate filings and, upon request, submit appropriate information to the licensing authorities, may be costly and time-consuming and may result in delays in the commencement or continuation of operation of the Platform. Further, private individuals and the public at large possess rights to comment on and otherwise engage in the licensing process, including through intervention in courts and political pressure. Accordingly, the licenses MY PLACE X any Company Party may need may not be issued or renewed, or if issued or renewed, may not be issued or renewed in a timely fashion, or may involve requirements which restrict any MY PLACE X Company Party's ability to conduct its operations or to do so profitably.

Failure to Obtain, Maintain or Renew Licenses and Permits. ‌ Although as of Though there is the date of starting of the Token sale there are no risk that some statutory requirements obliging MY PLACE X the Company to receive any licenses and permits necessary for carrying out of its activity, there is the risk that such statutory requirements activity may be adopted in the future and may relate to any of MY PLACE X the Company Parties. In this case, MY PLACE X the Company Parties' business will depend on the continuing validity of such licenses and permits and its compliance with their terms. Regulatory authorities will exercise considerable discretion in the timing of license issuance and renewal and the monitoring of licensees’ compliance with license terms. Requirements which may by be imposed by these authorities and which may require MY PLACE X any of the Company Party to comply with numerous standards, recruit qualified personnel, maintain necessary technical equipment and quality control systems, monitor our operations, maintain appropriate filings and, upon request, submit appropriate information to the licensing authorities, may be costly and time-consuming and may result in delays in the commencement or continuation of operation of the Platform. Further, private individuals and the public at large possess rights to comment on and otherwise engage in the licensing process, including through intervention in courts and political pressure. Accordingly, the licenses MY PLACE X any the Company Party may need may not be issued or renewed, or if issued or renewed, may not be issued or renewed in a timely fashion, or may involve requirements which restrict any MY PLACE X the Company Party's ability to conduct its operations or to do so profitably.