Loss of Tokens. By default, all issued Share Tokens are subject to a recovery function embedded in the Smart Contract. The recovery function allows Share Token Holders that lost access to their Share Tokens to reclaim them. Potential abuse of the recovery function is guarded against by requiring a collateral and by having a suitably long period during which counterclaims can be filed. It is possible to opt out from the recovery function on a per-address basis by invoking the respective function. As a further fallback to prevent abuse, the Issuer is given the power to cancel a pending token recovery, thereby preventing the recovery from completing. The Issuer agrees to only exert this power in case of suspected abuse or errors. Alternatively, lost Share Tokens can be declared invalid by a judge and replaced with new Share Tokens in accordance with the procedure laid out in article 973h CO. Accordingly, the beneficiary of lost Share Tokens may demand the competent court at the seat of the Issuer to cancel the respective ledger-based securities, provided that the beneficiary furnishes credible evidence of its original power of disposal and of the loss thereof. The cancellation procedure according to article 982 – 986 CO applies mutatis mutandis, except that only one public notice for presentation of the security in the Swiss Official Gazette of Commerce is required, and the time limit (waiting period) is at least one month after the public notice. Invalid Share Tokens remain in the Smart Contract but do not allow registration in the Share Register anymore. The Issuer will inform about invalid tokens on the Website. Anyone regaining control over lost tokens is required to return them to the Issuer or burn them.
Loss of Tokens. By default, all issued Share Tokens are subject to a recovery function embedded in the Token Register. The recovery function allows Token Holders that lost access to their Share Tokens to reclaim them. Potential abuse of the recovery function is guarded against by requiring a collateral and by having a suitably long period during which counterclaims can be filed. It is possible to opt out from the recovery function on a per-address basis by invoking the respective function on the smart contract. As a further fallback to prevent abuse, the Issuer is given the power to cancel a pending token recovery, thereby preventing the recovery from completing. The Issuer agrees to only exert this power in case of suspected abuse or errors. The recovery mechanism is documented in more detail on xxxxxx.xxx/xxxxxxxxxxx/xxxxxxxxx/xxxx/xxxxxx/xxx/xxxxxxxxxxx.xx Alternatively, lost Share Tokens can be declared invalid by a judge and replaced with new Share Tokens in accordance with the procedure laid out in article 973h CO. Invalid Share Tokens remain in the Token Register but do not represent Shares anymore. It is the responsibility of the Issuer to inform about invalid tokens on the Website.
Loss of Tokens. According to Swiss Laws, a Shareholder can ask a Swiss court to invalidate the Share Token. Invalid Share Tokens remain in the Smart Contract but do not represent Shares anymore. In the event of Token Loss, the Shareholder is obliged to notify the Issuer forthwith. Upon receipt of sufficient proof from the Shareholder demonstrating both the initial entitlement to control the Share Token and the subsequent misplacement or deprivation thereof, the Issuer is authorized to enact a provisional suspension of the transferability of Share Tokens associated with the Shareholder's address. During the suspension, the Issuer will stipulate a definitive period for the Shareholder to institute legal proceedings aimed at obtaining an official annulment of the Share Token. This specified duration shall not surpass one month. Failure by the Shareholder to initiate such proceedings within the allocated time frame can result in the Issuer lifting the provisional suspension.
Loss of Tokens. The Buyer warrants to have sufficient knowledge and experience in business, technology and financial matters, including sufficient knowledge of blockchain or cryptographic tokens and other digital assets, smart contracts, storage mechanisms (such as digital or token wallets), blockchain-based software systems and blockchain technology, etc. in order to assess the risks and merits of the purchase and delivery of Tokens, including but not limited to the matters set forth in this Agreement, and that it is able to bear the risks thereof, including loss of all paid amounts, loss of Tokens. The Buyer warrants to have obtained sufficient information to make an informed decision to purchase Tokens.
