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Sacramento Kings

Season Ticket License & Automatic Payment Agreement

 

This SEASON TICKET LICENSE and AUTOMATIC PAYMENT AGREEMENT (the “Agreement”) is made for the 2011-12 season between THE SACRAMENTO KINGS LIMITED PARTNERSHIP, LP (“Licensor” or “Kings”), and the undersigned licensee (“Licensee”). Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee a revocable license to use the seats (the “Seats”) identified on the invoice attached or future invoices to be received hereto for all home preseason and home regular season Kings games (“Kings Home Games”) at Power Balance Pavilion (the “Arena”) during the term of this Agreement. Subject to availability and provided Licensee is not in breach of its obligations under this Agreement, Licensee will be given the opportunity to purchase the Seats for any Kings playoff and NBA Finals games at the Arena during the term on terms and conditions designated by Licensor. The Agreement shall be effective as a contract as of the date hereof, but Licensee.s privilege to use the Seats pursuant to this Agreement and therefore the term of this Agreement shall not commence until the date the new NBA Collective Bargaining Agreement is reached for the 2011-2012 Season (“Commencement Date”). The term of this Agreement shall begin on the Commencement Date and end after the last of the Kings Home Games for the 2011-2012 Season (the “Term”).

PAYMENT OPTIONS & SCHEDULE

In consideration for the rights granted hereunder, Licensee may elect to pay the annual license fee (the “License Fee”) as set forth in the attached invoice, in one of the following ways: (1) paying the total amount of the License Fee upon the execution of this Agreement (“Option 1”), or (2) paying a non-refundable deposit towards the License Fee in the amount of $250.00 per Seat (the “Deposit”) upon the execution of this
Agreement, and the remaining balance of the License Fee as follows (“Option 2”):

Payment Due Date Amount
1st Payment No later than the date the new NBA Collective Bargaining Agreement is reached for the ‘11/’12 NBA Season 25 % of remaining License Fee value
2nd Payment No later than the 17th of the following
month, after 1st Payment
25 % of remaining License Fee value
3rd Payment No later than the 17th of the following
month, after 2nd Payment
25 % of remaining License Fee value
4th Payment No later than the 17th of the following
month, after 3rd Payment
25 % of remaining License Fee value


Licensee may elect to pay the License Fee under Option 2 by completing the Automatic Payment Authorization (“APA”) set forth herein and submitting it to Licensor with the Deposit. Licensee acknowledges that upon submission of the completed APA and the Deposit, Licensor is authorized to process payment for the License Fee, as set forth above, on the credit card or charge card provided by Licensee to Licensor. If after
submitting the Deposit to Licensor under Option 2, Licensee fails to make payments by their required due dates, this Agreement may be cancelled and the Seats may be reassigned without further liability to Licensee. Furthermore, any unpaid balance may result in the Kings evaluating other options. In the event the Kings do not play a Kings Home Game at the Arena during the 2011-2012 Season, Licensee shall be entitled to receive a refund of the Deposit paid under Option 2. Except for this refund, Licensee shall not be entitled to any other remedy by way of damages, credits, set-offs, deductions, rebates or relief from any of its obligations hereunder by reason of a failure of the of the Kings to play any of their preseason, regular season or playoff games at the Arena during the Term of the Agreement. If the entire 2011-12 season is cancelled, the Licensee will maintain first right of refusal on the seats held with their Deposit for the 2012-13 season during the allowable renewable period for season ticket holders as established by the team. The Licensee acknowledges prices may be subject to adjustment for the 2012-13 season from the price originally agreed to under the License for the 2011-12 season.

Licensee and Licensee.s Guest(s) shall comply with all policies, rules and regulations established from time to time by Licensor in its sole discretion, including, but not limited to, those terms and conditions upon which tickets and other benefits associated with this Agreement are issued or sold. If Licensor determines that Licensee or any of Licensee.s Guest(s) has violated any such policies, rules and regulations, Licensor shall have the absolute right to immediately eject Licensee and/or Licensee.s Guest(s) and terminate the Agreement.

Licensee acknowledges that any rights granted hereunder are in the nature of a license and as such no property interest arises by virtue of this Agreement. This License and any and all rights hereunder are revocable and terminable by Licensor in its sole discretion. It is the Licensor.s standard policy to offer season ticket holders the opportunity to renew their seats each year in the same location. However, in the case of any non-disabled season ticket holder whose seats are currently located in a disabled seating area, Licensor reserves the right to relocate such seat ticket holder in the future if applicable laws require that Licensor make such seats available for purchase by disabled patrons.

I authorize the Kings to charge my credit card in three installments, beginning with 25% of my Licensee Fee value, followed by three equal payments of 25% of my Licensee Fee value, in accordance with, and at the times specified in, the payment schedule set forth above, following receipt of my season ticket invoice and a Deposit of $250 per seat. I understand that individual banks may process the transaction(s) a few days later. The Kings will accept one (1) credit card per APA option with the card having a valid expiration date for the duration of the APA process. I understand that a service
charge of $50.00 will be assessed on all declined transactions. If my credit card declines for any reason, I agree that I will be responsible for paying any and all remaining balances as well as the declined transaction fee immediately. Failure to adhere
to the payment schedule provided herein may result in denied entry to any Kings Home Games. Only Visa, MasterCard, Discover and American Express accepted. .