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Add a new user / entity legal agreement reflecting shift in jurisdiction
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## Refer to [disclaimer.md](https://github.com/currentxchange/purple-explainer/blob/master/Legal/Disclaimer.md) for definitions binding to this document | ||
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## Dissolution of Current X Change LLC | ||
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Current X Chanve LLC has been dissolved according to the laws of Maryland, United States of America, and all business operations in Maryland and in the United States have been ceased at the exact moment Of the execution of dissolution. | ||
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In pursuit to original token agreement, no tokens were issued to citizens of the United States, and no business is being conducted in the state of Maryland. All assets and IP of Current X Change LLC have been transferred to successor company immediately upon the execution of the dissolution of Current X Change LLC, happening at the moment the legal structure in Maryland was dissolved. | ||
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## Transition of Operations to Belize | ||
The Buyer And are interested parties including governmental agencies within the US acknowledges that following the dissolution of Current X Change LLC in the United States, all business operations, including but not limited to the development, issuance, and management of PURPLE Tokens, are now exclusively conducted by the Seller within the jurisdiction of Belize. There are no ongoing operations, business activities, or legal entities associated with the Seller in the United States. | ||
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## Recitals | ||
WHEREAS, the Seller, now a fully Belize-based entity, is dedicated to the development of the Current X Change (cXc) applications and the issuance of PURPLE Tokens within the regulatory framework of Belize; | ||
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The name and structure of the entity has not been released to the public. | ||
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WHEREAS, the Buyer intends to purchase PURPLE Tokens under the revised terms and conditions suitable for the Seller's operations in Belize. The definition of the buyer also extends to any user of software produced by the entity formerly known as Current X Change LLC, or the new entity that now houses all operations, as well as any tokens, nonfungible tokens or other assets created by the project, subsidiaries, or related entities. | ||
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## Utility of PURPLE Tokens | ||
PURPLE Tokens are utility tokens issued under the legal and operational framework of Belize. The Buyer acknowledges the complete transition of the Seller's operations to Belize and agrees that the purchase and use of PURPLE Tokens are governed by Belizean law and the terms outlined in this Agreement. | ||
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## Restrictions for International Business Corporations in Belize | ||
The Buyer is aware that the Seller, as an International Business Corporation in Belize, is restricted from engaging in business with Belize residents or owning real estate in Belize, except as permitted by Belizean law. These restrictions are in compliance with the Belize International Business Companies Act and ensure the Seller operates within the legal confines of its jurisdiction. | ||
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## Jurisdiction and Dispute Resolution | ||
This Agreement and any disputes arising from it are governed by the laws of Belize. The parties agree to resolve any disputes through arbitration in Belize. | ||
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## Miscellaneous | ||
This Agreement confirms the cessation of the Seller's operations in the United States and the full transition of business activities to Belize. All references to the United States in previous agreements are hereby nullified, and Belizean law shall govern this Agreement, And all future agreements involving any intellectual property created by Current X Change LLC, subsidiaries, or related projects wihtin legal scope. |