Advance Agreement

Update date:

October 18, 2023

The Advance Agreement (the “Agreement”) constitutes a legally binding agreement between you and Mediacube with respect to the Advances as set forth below. It is important that you read it carefully. The Agreement applies to all Users. User under the present Agreement act as a partner of the following network Mediacube.

TABLE OF CONTENT

1. Definitions

2. Warning

3. General Provisions

4. Advances

5. Interest and repayment

6. Responsibility

7. Final provisions

1. DEFINITIONS

Mediacube — MEDIACUBE WORLDWIDE LTD, a legal entity created and functioning in accordance with the laws of the Republic of Cyprus, registered under the number HE 401840, at 22 Aiantos Street, Agioi Omologites, 1082, Nicosia, Republic of Cyprus.

Advance — the amount of funds credited to the User at his request in MC Pay, which the User undertakes to return, taking into account the interest (the “Interest”) accrued on the amount of the Advance.

MC Pay is a service located at: https://mcpay.io

License agreement — a license agreement between You (as a User) and Mediacube, accepted by You in the MC Pay service, under which You granted Mediacube the rights to Content on Your YouTube channel.

All other definitions not disclosed in this Agreement have the meaning specified in the MC Pay User Agreement.

2. Warning

PLEASE READ THIS AGREEMENT CAREFULLY.BY ACCEPTING IT, YOU:

CONFIRM THAT YOU ARE A FULLY CAPABLE PERSON. IF YOU ARE AN INDIVIDUAL, YOU CONFIRM THAT YOU ARE OVER 18 YEARS OLD, OR YOU HAVE THE OPPORTUNITY TO PROVIDE PERMISSION FROM LEGAL REPRESENTATIVES TO ACCEPT THIS AGREEMENT.

3. General Provisions

3.1. This Agreement is an amendment to the License agreement, and the offer and an agreement of accession. By accepting it, you agree to all its terms and conditions without any exceptions.

3.2. The User agrees that Mediacube is not responsible for the User's compliance with applicable national legislation.

3.3. The User agrees that Mediacube is not responsible for the payment of taxes by the User from the amount of the Advance, as well as from the amount of the repayments or the Interest.

3.4. Advances are provided to Users as a prepayment under the License agreement.

4. Advances

4.1. Using the MC Pay functionality, the User is given the opportunity to request an Advance from Mediacube.

4.2. In the request form, the User is provided with the amount of the Advance that he can request, as well as the amount of the Interest that will be accrued on the Advance.

The Interest refers to the amount by which the User's future remuneration will be further reduced.

4.3. After processing the User's request, Mediacube performs one of the following actions:

a) accepts the User's request and credits the Advance to MC Pay;

b) changes the amount of the Advance and/or the amount of the Interest that will be accrued on the Advance and sends a new offer to the User;

c) denies the User to deposit an Advance.

4.4. If the User accepts a new Mediacube offer, Mediacube performs the actions specified in clause 4.3 (b), and in case of refusal – the actions specified in clause 4.3 (c).

4.5. The refund of the Advance and the payment of the Interest are carried out in accordance with section 5 below.

5. Interest and repayment

5.1. Upon reaching an agreement between the User and Mediacube and crediting the Advance, the User agrees that Mediacube has the right to retent the amount of the User's remuneration under the MC Pay license agreement by an amount up to 100%.

5.2. The amount of remuneration retention is determined by Mediacube independently and is brought to the User's attention before the Advance is credited to MC Pay.

Mediacube has the right to unilaterally increasing the %, the Interest or increasing/decreasing the term with simultaneous notification of the User to the User's e-mail address specified as the Login during registration in MC Pay in the following cases:

The Advance and the Interest are not repaid in due time established for the User;
no new Content (video) is posted on User’s YouTube channel within one and a half months from the date of signing the Agreement;
continued deterioration of the quality of Content on the User's YouTube Channel (the following violations are present in the content: AdSense Program Policies / Youtube Community guidelines / Terms of Service / Copyright) for a period of 2 (two) months and more;
if the User’s monthly income in MC Pay drops from 25% to 49% (any percentage number specified in this range, including 25% and 49%) compared to the User’s income in MC Pay at the month of issuing the Advance.

The abovementioned amendments are considered modified and indisputably accepted by the User from the moment of sending notification by Mediacube.

The User hereby agrees that if the User’s monthly income in MC Pay drops by 50% or more compared to the User’s income in MC Pay at the month of issuing the Advance, Mediacube has the right to demand an early return of the Advance and the Interest by notifying the User to the User's e-mail address specified as the Login during registration in MC Pay. If the Advance and the Interest are not repaid within 5 business days from the date of User notification, all exclusive rights to the User's Content transfers to Mediacube for 3 years, and the Advance and the Interest in this case will be considered a license fee for the transfer of all exclusive rights to the Content for the specified period. In this case, the rights are granted to Mediacube on the territory of countries around the world, with the right to issue a sublicense, under the terms of an exclusive license. The User has the right to terminate the license agreement specified in paragraph therein before the expiration of 3 years provided that the User returns the Advance and payment the Interest.

5.3. The User's remuneration is withheld as repayment of the Advance and payment of the Interest and is carried out until the Advance is fully repaid and the Interest is refunded, that is, until the total reduction in remuneration becomes equal to the amount of the Advance and the Interest.

5.4. Mediacube charges the Interest on the amount of the outstanding Advance.

5.5. The amount of the Interest is determined by Mediacube independently and is brought to the User's attention before the Agreement is accepted.

5.6. The Interest is reflected (summed up) together with the Advance and is brought to the User's attention before the Advance is credited. The Interest is accrued once at the time of crediting the Advance and is retained by Mediacube together with the repayment of the Advance.

5.7. The total amount of the User's debt to Mediacube will be reflected in the "Balance" section. The amount that the User will owe to Mediacube in case of crediting the Advance will be brought to the User's attention before crediting the Advance: at the time of acceptance of the Agreement or at the time of the User's consent to the Mediacube offer.

5.8. By accepting the Agreement, the User agrees that the validity period of the License Agreement is increased by equal to the period of the Advance and the Interest. The License Agreement cannot be terminated until the Advance and the Interest are repaid, and the User does not have the right to disconnect from the Mediacube partner network until the Advance and the Interest are repaid except for the case specified in clause 5.9.

5.9. With the permission of Mediacube, the User has the right to terminate the License Agreement and disconnect from the partner network in accordance with the procedure provided for in the License Agreement, but in this case the User undertakes to reimburse Mediacube for lost profits equal to double amounts of the Advance and the interest.

6. Responsibility

6.1. In case of disconnection of the User from MC Pay, without the permission of Mediacube, Mediacube has the right to withhold any funds in MC Pay and refuse to pay the User Income equal to twice the amounts of the Advance and the Interest, as compensation for damages and lost profits.

6.2. The User agrees that if the Advance and the Interest are not repaid within a year from the date of accrual of the Advance, all exclusive rights to the User's Content transfers to Mediacube for 3 years, and the Advance and the Interest in this case will be considered a license fee for the transfer of all exclusive rights to the Content for the specified period. In this case, the rights are granted to Mediacube on the territory of countries around the world, with the right to issue a sublicense, under the terms of an exclusive license. The User has the right to terminate the license agreement specified in paragraph therein before the expiration of 3 years provided that the User returns the Advance, as well as payment the Interest.

6.3. The User agrees that any actions related to cheating views on the User's YouTube channel, other fraudulent actions, providing false information to Mediacube, as well as unjustified deleting content from the User's YouTube channel are a material violation of this Agreement and entail the cancellation of the Advance and the obligation to return all funds to Mediacube ahead of time. If the required amount is not available on the User's Balance, he undertakes to pay the Advance and the Interest to Mediacube to bank details.

7. Final provisions

7.1. The relationship between the User and Mediacube is governed by the legislation of the Republic of Cyprus.

7.2. Invalidation of any provision of the Agreement does not affect its validity as a whole, as well as the User's obligations to Mediacube.

7.3. Invalidation of the Agreement does not release the User from the obligation to repay (refund) the Advance and payment the Interest.

7.4. In case of the User's dishonesty, Mediacube has the right to apply for judicial protection at its location with a claim for recovery of the amount of the outstanding Advance, as well as for bringing the User to any applicable civil, administrative or criminal liability.

7.5. MC Pay user agreement are an integral part of this Agreement: https://mcpay.io/api/agreement?lang=en.

7.6. The Agreement is also part of the license agreement between the User and Mediacube and makes the changes specified above.

7.7. The User agrees that he has read all the terms of the Agreement and accepts them.