Terms and conditions of use for the entrepreneur



I. DEFINITIONS.

LIGNUM CAPITAL.

A Spanish company with a registered office in Madrid, Calle Augusto Figueroa 17, 3º A, with CIF B86999984, inscribed in the Mercantile Register of Madrid.

Its corporate purpose is the development and management of a web platform for participatory financing, aimed at facilitating the financing of companies or projects in the creation or growth phase (Promoters), bringing these Promoters in contact with a plurality of individuals or legal entities that offer financing.

He is the owner of the web platform called www.lignumcap.com (hereinafter, web platform/ web page)

Entrepreneur.

For the purpose of this platform, the term entrepreneur refers to all natural or legal persons that are registered as entrepreneurs in our web platform and who are interested in promoting one or several business projects, becoming, through this process, promoters.

Promoter.

Promoter is considered, for the purposes of this platform, any entrepreneur (whether natural or legal person) who is registered as such and has created a campaign to promote a business project through our platform, in accordance with the provisions of the Law 05/2015 on Promotion of business financing.

Project Promoted.

The business project that is promoted through the web platform under the title of Funding Campaigns. Promoted projects will be proposed by the entrepreneurs and must be approved by the team of Lignum Capital.

Funding Campaign.

The financing campaign is the way to promote a project through the web platform. It includes all the relevant information that the promoters have contributed on the promoted project, the time frame to obtain the financing and is part of the functionality of the entrepreneurs.

Investment.

It is defined as the assumption, by an investor, of the shares of a promoter company within the framework of a capital increase, by means of the corresponding monetary contribution.

Investor.

For the purposes of this platform, investors are considered to be any natural or legal person who is registered as an investor in our web platform and who is interested in investing in one or more promoted projects. There are two types of investors, accredited and non-accredited.

II. CONDITIONS OF THE ENTREPRENEUR

2.1. General.

The purpose of this document is to describe the conditions and Terms of use that the Entrepreneur must observe and fulfill as a user Of the web platform, in particular, as regards the referral of the Request for the promotion of their projects through the platform.

LIGNUM CAPITAL is a participatory financing web platform through Of which Promoters of the Promoter Societies can advertise Projects that have previously been admitted by our team. In this platform will be exposed all the relevant information about the Projects, in order to seek financing through the issuance of social participation. On the other hand, Investors can access the available information, to know the Promoters and, if they wish, to invest in the Projects promoted in an informed manner, with due guarantees of Neutrality, diligence and transparency.

The activity of LIGNUM CAPITAL is exclusively limited to the establishment and management of the aforementioned web platform, allowing free Interaction between the different agents (Investors and Promoting Societies) and Advice and coordination of investment operations; In any case, such activity may be considered as constituting activities Own advisors or financial intermediaries. Likewise, under no circumstances Concept, it can be deduced from our activity that LIGNUM CAPITAL Promotes or recommends projects in a specific way or that acts in Benefit of interests other than those of its clients.

This document of Terms and Conditions for Entrepreneurs Constitutes a set of rules of conduct applicable to the person Registered as an Entrepreneur through the web platform, which should be Read and accepted by interested parties at the time of registration.

The acceptance of the subjection to the present document implies the acceptance of Their full content, without the opposition of reservations by the interested parties That are registered, that from that moment will be considered as Entrepreneurs and Customers for the platform.

For the purposes of the registered Entrepreneur, the platform understands that the Entrepreneur is aware of the conditions and risk involved in this path And has read and understood the mandatory risk Entrepreneurs and other legal warnings.

If the user does not comply with this document or would like to To place reservations on some point, you must refrain from accepting it and Of the registration process.

The Entrepreneur declares that he / she knows and understands that LIGNUM CAPITAL, as Participatory financing platform, does not have the status of a Investment Services, or Credit Entity, and is therefore not a party to No Investment Guarantee Fund or Deposit Guarantee Fund, With the risks that this entails.

LIGNUM CAPITAL reserves the right, at any time, to interrupt, Modify or update, temporarily or permanently, the content and the Services of the web platform, the content of this document and / or the conditions to benefit from the services of LIGNUM CAPITAL, without Such action generates responsibility for our Society. In any case, The User assumes the total responsibility of relying on the information and Security of the web platform and is obliged to act in accordance with the Faith and with due diligence in the use of their services.

2.2. Tutorial.

LIGNUM CAPITAL offers its users a simple Tutorial of Explanatory use of both the investment process and the process to raise a Campaign, as well as the risks associated with this funding model.

III. SERVICES AVAILABLE FOR ENTREPRENEURS.

3.1. Description.

LIGNUM CAPITAL offers access to its web platform in a free and Free of charge. However, it will be necessary, to enjoy the services as Client and user of the page, to register with its corresponding name and Password as an Entrepreneur. Entrepreneurs who meet the established requirements may create Campaigning applications to promote promoted projects that Seek funding through the platform.

LIGNUM CAPITAL reminds you that they are not included in your Services reserved for the Information Services Companies. Investment and other Credit Institutions and, in particular, may not:

  1. Provide the services of reception, transmission or execution of orders or Customer mandates referred to in points (a) and (b) of Article 63.1 of Law 24/1988, of July 28, on the Securities Market, nor Of custody of the same.

  2. To receive funds on behalf of investors or promoters, except that Have the purpose of payment and the platform has the mandatory Authorization of a hybrid payment institution, in accordance with the provisions of Law 16/2009, of 13 November, on payment services, and its regulations developmental.

  3. Receive assets of the Promoters in their own name, either by account Own or on behalf of the Investors, as a guarantee of compliance Of the obligations of said promoters vis-à-vis investors.

  4. To manage on an individual and discretionary basis investments in Participatory financing projects.

  5. Make personalized recommendations to investors on the Participatory financing projects.

  6. Grant loans or loans to investors or promoters, except where Provided for in article 63 of this Law.

  7. Ensure promoters to raise funds.

  8. Provide automatic investment mechanisms to enable Non-accredited investors to automate their investment decision, whether or not they Based on criteria predetermined by the investor. They will not have the consideration Of automatic investment mechanisms, the profits that enable the Investor to preselect among the projects published all those In which to invest to, subsequently, agree and formalize its Participation in them through a single action.

3.2. Catalog of Services.

LIGNUM CAPITAL offers the following services through its platform Web:

  1. Create campaigns, submit requests to upload projects Promoted through the platform.

  2. Visualization and access to documents and information provided by the Entrepreneur to inform about your promoted project.

  3. Capability to attract investors through the platform for your project Promoted.

  4. Access to the comment box, an electronic communication channel That allows Investors and Entrepreneurs to interact and raise or Respond to the promoted projects.

  5. The processing of the process of capital increase before a notary, and the follow-up of all legal and administrative operations until registration in the registry.

Regardless of the aforementioned services, LIGNUM CAPITAL provision of Entrepreneurs the following accessory services:

  1. Advice on the design and development of a financing.

  2. The advising and making available to the Entrepreneurs of standardized models of the following documents: Pact of partners, Statutes, Minutes of the Board of Directors, Minutes of the General Meeting of Shareholders.

  3. The transmission of periodic and non-discriminatory information to Investors about the evolution of the financing campaign, the state of the procedures for the realization of the investment and all those necessary communications.

  4. Services that, without being listed in this catalog, are obligated satisfaction, in accordance with current legislation.

3.3. Use of Services.

The use, by the Entrepreneurs, of the services that LIGNUM CAPITAL offers through the web platform, will be regulated by the present document, to which the registered Entrepreneurs will be subject.

In this regard, and in return for the benefit of the services mentioned that as an Entrepreneur, must observe and comply with the following obligations:

  1. The user agrees to make correct use of the web page, not to engage in unlawful activities, not to use the available content, and not to use their privileges as user in a manner contrary to the provisions of the Legal Notice and the current legislation.

  2. It is understood by correct use of our services that complies with their purpose, that is, to facilitate the contact between Investors and Companies in order to meet their financing needs. In otherwise, when the use is not complied with in accordance with the policy and conditions, the user will be liable for damages third parties, other users or LIGNUM CAPITAL as consequence of this breach.

  3. The user undertakes not to copy, reproduce, transform and / or distribute, totally or partially, the content of the web page for advertising or commercial advertising and not to facilitate their private access to third parties to do so in his name. You agree not to publish, distribute or disseminate any information beyond what is naturally necessary and authorized to enjoy our services or that is required by LIGNUM CAPITAL through the website. You agree not to send, deposit or download any files, other than duly authorized through our website.

  4. The user assumes the total responsibility of trusting or not in the information and security of the website and is obliged to act in accordance with the good faith and due diligence in the use of their services.

  5. The user is obliged to indemnify LIGNUM CAPITAL for damages caused by the claims filed and the claims against our Company, assuming the costs arising from the where the cause of the dispute is attributable to the breach by of the user of his legal obligations or of the conditions of use of the web page.

Similarly, the Entrepreneur assumes and accepts that LIGNUM CAPITAL:

  1. It is not responsible for guaranteeing the accuracy, reliability, correctness, authenticity, timeliness, veracity and suitability of the information contained in the web page, beyond the limit of activity that is the requirements and conditions to be met by the investors and the Companies that make use of our services.

    Article 71. Responsibility for the participatory financing platform with respect to project information. 1. The financing platforms participant shall ensure that the information published in the completed in accordance with the provisions of this chapter. 2. The participatory financing platforms shall publish any other information relevant authority that is in possession of the project or the promoters
  2. Not responsible for the information that is off the page accessible through links or links located in the same. In no way should the links or links be interpreted as an express or implied investment recommendation or as an invitation to follow and visualize the content of said link.

  3. It is not responsible for the expenses derived from the operation abnormal of our services by causes attributable to interference, interruptions, telephone breakdowns, system delays or disconnections that are not attributable to the control of LIGNUM CAPITAL or that do not derive of the lack of due diligence of our company as well as those expenses arising from the malfunction of the user's equipment or its browser.

LIGNUM CAPITAL uses the best technologies in the protection of systems and antivirus. However, you can not guarantee or be responsible possible damage to the user's equipment or third party to your equipment system as a result of the contents or harmful programs derived from the use of our web page (virus, etc ...).

For any other risk arising from the investment, the user must contact the link from “Notice of Risk”.

We remind you that in case of legal conflict with LIGNUM CAPITAL, the users accept and agree to submit to the laws and courts spanish people.

IV. ACCESS TO THE SERVICES.

4.1. Registration process.

The requirements to register as a user are as follows:

  • Be of age (+18 years)

  • Being in possession of ordinary civil capacity

  • Not be legally incapacitated.

The registration process begins with the creation of a personal account as entrepreneur on our website, by clicking on the Registration tab of our home page.

The following should be completed fields. Once completed, the registration will be completed. The user will receive an email in the email account that he has provided, confirming the registration, mail and password.

Registry.

The following information must be completed:

  1. Name and Surname or Company Name

  2. NIF/NIE/CIF

  3. Address / Registered Office

  4. Marital status and economic matrimonial regime (when the Entrepreneur be an individual)

  5. Contact e-mail address (confirmation will be sent to register to this address)

  6. Password

With respect to the data of legal persons, representatives, administrators or those who hold the power of representation of the Company (Which must be an individual) must provide the following information:

  1. Full name and surname

  2. NIF/NIE

  3. Address / Registered Office

  4. Contact email address

El administrador de la Sociedad Inversora será considerado administrador de la Inversión.

In any case, LIGNUM CAPITAL recalls that both the Entrepreneur and the administrator of the Entrepreneurial Society (in the case of persons legal entities) hereby undertake to ensure that the information and the data provided by them are current, accurate, authentic, truthful and are delivered in good faith, being solely responsible for third parties and against LIGNUM CAPITAL of falsehoods, inaccuracies or fraudulent information provided.

Registration will be sufficient to carry out the process of creating a bell. Registering as a user will allow you to access the catalog of services mentioned above.

To clarify any doubt regarding the registration process, please access the following link: Tutorial.

4.2. Access data.

The User Access Data corresponds to the email address and the Password you have provided us with. The object of these data is to safeguard the security of the system and to establish a verification of the use of the platform by the user, who is left obliged, by virtue of the activity carried out once it has entered its Data of Access.

Access data.

a. Identify you as a user of LIGNUM CAPITAL in a very personal way, being the Entrepreneur responsible for the activity carried out within the platform.

b. They allow you to effectively access your personal profile within the web platform, and enjoy the services of LIGNUM CAPITAL as Entrepreneur and logged in user.

c. The Entrepreneur undertakes to carry out: (I) responsible use of its data and especially your access password. (II) save and maintain it and not to divulge it irresponsibly. (III) not allow third parties the access to the platform with their access data, if they were not duly authorized by the account holder. (IV) do not register in name of a third party without being duly authorized by it or being its legal representative.

d. In case of loss, subtraction, or any other circumstance that reasonable doubt about the security of your Access Data Personnel, the Investor shall have the obligation to notify said LIGNUM CAPITAL, being the user responsible for the consequences that are derived from non-communication in time and form.

You must report the loss, subtraction or fear for the safety of your Data Access through the link "Loss or Subtraction of your Data Access ", indicating your user email, your original password and a new one email address.

The account will then be blocked and the user will receive an email from support@lignumcap.com, with subject "Access Data", in which a link to establish a new user email and a new password.

In any case, LIGNUM CAPITAL reserves the right to cancel without prior notice the access to the web page of those users who make use and adopt, at any time, all security measures it deems necessary to ensure the proper use and confidentiality of the data deposited on the website and the security of the system.

The Entrepreneur hereby declares that he understands and accepts the risks associated with the use of its Access Data and declares itself responsible for the use of the same.

V. PROMOTION OF A PROJECT.

5.1. General.

Promoted projects should follow a standardized process divided different stages to be approved and a financing.

The Promoters must be registered as Entrepreneurs in the platform and have a personal account with their corresponding data access. Once logged into the platform, the process of promoting a project will start when the user clicks the "Create Campaign" tab. The Employee must then validate the "Admission Criteria for Projects "(hereinafter CAP) of LIGNUM CAPITAL to continue the process.

Description of the stages of the process.

  1. Click on "Create Campaign" and validate CAPs.

  2. Create a company, regulated in section 5.2 below.

  3. Up Proposal of Campaign, regulated in section 5.3 below.

  4. Appraisal of the Project and the proposal, regulated in section 5.4 following.

  5. Preparation of the Social Agreements of the Entrepreneurial Society, regulated in section 5.5 below.

  6. Approval and Publication of the Project in a Campaign, regulated in the paragraph 5.6 below.

All the information provided by the Promoters about the projects should be clear, timely, sufficient, objective, current and not misleading. Throughout in this case, the Promoters will be responsible to the investors of the information they provide to this participatory funding platform for publication.

In the same way, the Promoters certify and guarantee to be the actual owners of the information provided, bearing all the reproduction rights and disclosure of information, logos, badges or slogans in fair title, stating that they do not in any way contravene the property rights intellectual or industrial property of a third party.

In any case, the information received and published on a project will be available for investors on the website during a term not less than twelve months from the closing of fund raising. In addition, LIGNUM CAPITAL undertakes to make available to investors the information provided for in this item and which shall be stored on the a durable medium and for a period of not less than five years from the closing of fundraising.

The Promoters undertake to satisfy and compensate in any case for LIGNUM CAPITAL, of the damages that could suffer as a result of the breach of the abovementioned obligations, which are the only ones responsible.

5.2. Press "Create Campaign" and validate CAPs.

The user must click on "Create Campaign" and validate the Criteria of Admission of Projects, which we point out below:

Companies incorporated or being set up projects.LIGNUM CAPITAL seeks to finance projects already constituted or in the process of being set up, with the reservation of name and temporary CIF obtained, for reasons of security for our investors.

Scalability.Scalability of projects is critical. We seek companies with great potential for growth and prospects for internationalization, capable of growing faster than productive investment.

Viability of your business model.Credible ideas with business models solvents and well structured, and with a well-developed growth strategy defined.

Assessment.Reasonable, according to the market and metrics that the Justify and justify capital requirements.

Trust.Innovative but credible ideas, in which the partners of LIGNUM CAPITAL can trust.

Excellence.We look for the best ideas and the best entrepreneurs, which requires a commitment to the exhaustiveness of our team, which evaluates each project through different experts, depending on the model of deal.

Team.A team of professionals with the necessary skills to their ideas, both in terms of professional preparation and qualification.

Commitment to dedication.The character of the promoters is fundamental. We are looking for people committed to your business, with a strong involvement professional, with a winning character and that give confidence and credibility to the draft.

Cost effectiveness.Projects that offer prospects of future profitability for investors, with a clear possibility of selling their medium-term horizon.

Conflicts of interest.The provisions of our section of Conflicts of interest and, in particular, what is established in our Internal Code of Conduct and current legislation.

Once the Entrepreneur has accepted the CAPs, the following is displayed: Stage of the process. In case of not validating the CAP, the Entrepreneur can not continue with the process.

LIGNUM CAPITAL reminds you that our team will evaluate your proposal campaign based on the stated criteria.

5.3. Create Company.

To continue the process of creating a campaign, the promoters they will have to create a company profile on the platform. Company Profile must correspond with the company owner of the promoted project and will be this society will receive the funds obtained through the Platform. The Entrepreneur should provide the following information:

  1. Identity of the current founders and / or partners (filling in so many as founders / partners), providing the following information of each one of them:

    1. First name

    2. Birthdate

    3. Phone

    4. E-mail

    5. Gender

    6. CV

  2. The company name or company name appearing in the Statutes and obtained from the Central Mercantile Register.

  3. The CIF, definitive or provisional.

  4. Registered address in the statutes (address, location, Province and CP)

  5. Phase of the company

    1. Founded

    2. In process of creation

  6. Category

    1. Agri-food

    2. Culture Art and Sport

    3. Hostel and Tourism

    4. Industry and Technology

    5. Consumer Products

    6. Textile

    7. ICTs

    8. Others

  7. Current account

Once all the mandatory fields have been filled out, you can access through Company in the menu of your user.

5.4. Upload Campaign proposal.

Once a Company has been registered, a Campaign may be prepared, pressing "Create Campaign" again.

The following information must be provided and the fields of Bell:

  1. Title of the Campaign

  2. Description of the Company, its corporate bodies and the plan of activities, through a PPT presentation, an explanatory video and a executive Summary.

  3. Identity and curriculum vitae of administrators and directors.

  4. Form of social organization.

  5. Number of employees.

  6. Description of the financial situation.

  7. Structure of social capital and indebtedness.

  8. The Statutes (if any) and, if not, the proposal of Statutes which shall in any case include the following clauses:

    1. Recognize the right to attend the Meeting by telematic services in the terms provided for in Article 182 of the consolidated version of the Capital Companies Act.

    2. Recognize the right of representation at the General Meeting by anyone.

    3. They shall provide that the exercise of the right to vote at General Meetings or in some way affect the transferability of actions, shares or other securities representing capital must be communicated immediately to the company and by the other partners.

    4. Statutory clauses that violate the provisions of the in article 80 of the Law of Promotion of the financing.

  9. The partnership agreement with which they will go to the enlargement, if there was one.

  10. Amount Objective to be financed and percentage of participation offered in the company and maximum limit on financing if there would be.

  11. Valuation of the promoted company (post Money).

  12. Nature of the securities to be issued, including:

    1. Description of the type and class of the securities offered and, exist, the identification code of the value.

    2. A brief description of the essential characteristics and risks associated with investing in the securities in question.

    3. Indication of whether the values are represented in the form of titles or book entries. In the first case, shall indicate the name of the custodian entity. In the last case, the name and address of the entity shall be responsible for keeping the corresponding annotations. In both cases, the tariffs applicable to these services.

    4. Description of rights linked to values and their form including any limitations on those rights. He shall include information on the depreciation and values or their form of calculation when it is not possible to publish it previously, repurchase agreements and limitations on sale.

    5. Where appropriate, the guarantees provided.

  13. Logo and trademark, if any.

  14. Duration in days of the campaign.

5.5. Review of the proposal.

Once all the above information has been received, and within one week from its reception, LIGNUM CAPITAL will contact the promoters in order to request:

  • Extension and clarification of the information provided.

  • Improvement of the format or recommendation of change regarding the information provided.

  • Offering help and advice on drafting statutes, partners pact, business model.

  • Other issues that the team of LIGNUM CAPITAL, related to the project that is intended to promote.

LIGNUM CAPITAL reserves the right of admission of the projects promoted, and may discard the publication of the proposal or, contrary, their admission at any time and always in accordance with the implementation of CAPs.

5.6. Approval / Denial of the proposal.

Once the campaign proposal has been revised, within a maximum period of one month from the submission of the proposal, the LIGNUM CAPITAL team will response, via e-mail, to the Entrepreneur, with two possible answers:

  1. LIGNUM CAPITAL discards the publication of the campaign proposal.

  2. LIGNUM CAPITAL considers that the project should be through the platform.

In any case, the response will be accompanied by the mandatory report explaining the reasons and reasons why the LIGNUM CAPITAL team adopts this decision, clearly stating the interpretation of the Admission of Projects.

The information on the projects, provided by the Promoters, should be be clear, timely, sufficient, objective, current and not misleading. In any case, the promoters will be responsible, vis-à-vis investors, for the information to provide this participatory funding platform for their publication.

The Promoters are obliged to keep updated the published information, should respond to the requirements of new information that were required by LIGNUM CAPITAL.

In the same way, the Promoters certify and guarantee to be the actual owners of the information provided, showing all copyright and disclosure, logos, logos or slogans in just title, stating that no contravention, in any case, property rights intellectual of a third party.

In any case, the information received and will be published on a draft available to investors, continuously on the website for a period of not less than twelve months from the closing of the fundraising.

In addition, LIGNUM CAPITAL undertakes to make available to investors upon request, the information provided at this point, which is stored in a durable medium and for a period not less than five years from the closing of fundraising.

Promoters are committed to meet and redress in any case CAPITAL LIGNUM, the damages suffered as a result of breach of those obligations, which are the only responsible.

5.7. Publication of the campaign.

Once approved the content of the campaign team LIGNUM CAPITAL, shall be published on the campaign website at section "Projects seeking funding", visible by all users and only accessible to registered investors.

The entrepreneur will be considered a promoter and will be subjected to the corresponding legal effects, your condition promoter.

Once published, the campaign will remain open for the prescribed period effect, forcing the developer to:

  1. Keep updated project information.

  2. Respond diligently and clearly to questions from investors put to them from the option "Comments" campaign.

  3. Inclusion of additional information that proves relevant.

  4. Accept the editing, modifying and / or omission of information from CAPITAL LIGNUM about the project, always for the sake of their correct publishing and viewing on the website and does not affect the interest of investors.

Promoters authorize LIGNUM CAPITAL to store information received and published on a project that will be available to investors continuously, on the website for a period of not less twelve months after the closure of fundraising. In addition, LIGNUM CAPITAL undertakes, and will allow developers to make available to the investors on request, the information specified in the above points, which It is stored in a durable medium, for a period not less than five years from the closing of the fundraising.

Published the campaign, investors may invest in the project to ceiling set by the developer and will thus start the process investment.

VI. INVESTMENT PROCESS.

6.1. Description.

Companies seeking funding through the platform LIGNUM CAPITAL offer stocks, shares or other securities representing capital to be acquired by investors in the context of enlargement capital, which will be formalized before a notary after the exhaustion of deadline set on the website offered to attract the capital. It establishes a period of one month from the exhaustion of the previous period for realization of the capital. In case of error or failure notarial enlargement process, an additional one-month period will open for correction thereof.

All actions carried out through the web platform will be pre the legal formalization of the investment, which will be refined by execution of the capital in Touted Society.

In any case, throughout the investment process, LIGNUM CAPITAL forwarded to Successive investor communications about the situation and the steps to continue to formalize the investment, subject to the Company Inverters Executed promoter and a different procedure to formalize investment.

The system investment through our platform works as follows way:

  1. The investor decides to invest once you have found the project best fits their interests and situation. The process is initiated through the tab "Invest in this project."

  2. The inverter must prove that knows and understands the risks associated with such investments and ratify in the website notice investment risk that unfolds the effect on your screen. In case of not validate the risk warning, you can not continue the process investment and the process ends. Thus, LIGNUM CAPITAL It ensures that the investor receives and accepts a specific communication which warns of clear and comprehensible manner, of the following circumstances:

    1. Participatory project financing is not subject to authorization or supervision by the National Commission Market or by the Bank of Spain and the information provided by the developer has not been reviewed by them.

    2. In the case of issuance of securities, it is not subject to authorization or supervision by the National Commission Market and the information provided by the issuer has not It has been reviewed by the Comisión Nacional del Mercado de Valores or is a prospectus approved by the Commission National Securities Market.

    3. The likelihood of partial or total loss of capital invested risk of not achieving the expected performance-cash risk of illiquidity to recoup their investment.

    4. The capital invested is not guaranteed by the Guarantee Fund Investment or by the Deposit Guarantee Fund.

    5. Any other determined by the National Commission Stock market.

  3. . A time has validated the risks voluntarily consents assume the Investor should enter the amount of money you want invest in the project and will be subject to the following restrictions:

    1. Investor uncredited may invest no more than 3,000 euros per each project, and its cumulative investment in various projects do not may exceed 10,000 euros over a period of 12 months. To this Indeed, the automated system carries a LIGNUM CAPITAL automated accounting of accumulated investment amount each user, and does not allow these amounts are exceeded.

    2. The accredited investor who has satisfactorily completed requirements of paragraph 4 and who enjoys that status will not have personal investment restrictions. However, those who do not provide funding to a project platform participatory financing within twelve months, lose accredited status, although they may recover they meet with the requirements set out in paragraph 4. Likewise, they may lose accredited consideration when requested by written.

    3. No person may invest beyond the amount that would Objective defined in the campaign, except that establishes a up to about funding, in which case the amount obtained It is the limit of the campaign.

  4. Once set by the investor the amount you want to invest and validated risk warning, the Investor will assume a call option on the To purchase capital, paying as guarantee to LIGNUM CAPITAL 5% of the amount you want to invest and validating the option purchase payment system to be deployed for the purpose.

  5. The purchase option is subject to the following conditions:

    1. Entitles the investor to go to the capital and acquire the share capital of the company concerned to invested amount, becoming a member of the same, and receiving in exchange shares, shares or other securities representative of corresponding capital.

    2. The investor must enter the account provided by LIGNUM CAPITAL guarantee by card payment or transfer bank through the gateway Stripe platform.

    3. Failure to pay the guarantee, the option will become void, and Investors lose all rights granted therein.

    4. The guarantee will be returned to the Investor go to expanding capital once the bank send us proof of the contribution cash on behalf of the company. In any case, it will be returned the guarantee if the capital increase is not carried out for reasons attributable to the shareholders of the company or, Overall, not attributable to the Investor.

  6. Once paid the guarantee, the amount the investor would have established to invest will be reserved in your name and you will see how investment bar of the campaign on the website is completed.

    The investor should wait for has closed the campaign financing on the website, you may terminate by either following circumstances:

    1. The project has achieved its investment objective level, it is ie has been achieved at least ninety percent (90%) of the required funding for this project within settled down.

    2. The expiry of the period set in the Web to get the Investment Objective for a given project without It has met the target of Investment.

  7. Once the campaign is closed:

    1. LIGNUM CAPITAL send an informative mail to all Investors committed to the campaign who acquired the purchase option. The mail will inform the success of the campaign and the closing of the financing round, are attached information relevance to the development company in which they will invest, which shall consist of the bylaws, the pact partners, the valuation of the company and the minutes of the general meeting approves enlargement. It will be noted, also, in the mail, the deadline to go to the capital of the company in which You want to invest, which is 15 calendar days from receipt of mail quoted.

    2. Failure to attend the enlargement or partially go, you lose the proportion of the guarantee and must communicate via mail within 15 days expressly stating their intention to NO invest.

    3. In the event that the deadline had been exhausted to finance the campaign finance without achieving the target amount shall be communicate via e-mail, the failure of the campaign and back guarantees.

  8. After making all the contributions by investors and exhausted within two weeks, developers request the bank on the next business day (excluding Saturdays, Sundays and holidays), the contribution certificate, which is proof of contribution of committed capital from investors.

  9. Upon receipt of the contribution certificate shall be sent to Investors and guarantees will be returned. a date will be determined later for notarization of the capital, which will be invited all investors. The deadline for notarization will be one week and a half.

  10. In the schedule, which will be previously communicated to investors, It is made before a notary, notarization of expansion capital, culminating the investment process and becoming Investor partner of the company.

    Legal, investment made by investors in the Company promoted is channeled through a capital increase monetary contributions are divided into the portion of the nominal and the raw corresponding assumption.

    The expansion represents an increase of share capital of the company, thus creating the company promoted new shares that They are the subject of investment and which will be assumed by investors, together with those who will receive the rights to their new status as partners.

6.2. As the capital and is structured formalization Investment.

Once ratified the willingness of investors through timely entry of their contributions to capital, it is having made reaching the promoter for funds which they will receive remuneration of invested capital, society promoted adopted by agreement within the General Board Partners: (i) the capital, and (ii) the amendment of the Statutes, according to the signed pact partners and conditions established in the campaign was mandatory.

On the date set for the notarization of the agreements, including capital and statutory modification, they will appear before the Notary selected for that purpose administrators or possibly the representatives of the governing body of the promoted company, Notary formalizing the resolutions adopted at the Meeting. Will not be necessary investor participation in this event, having been Orders made appropriate Assumption of the shares and corresponding amounts have been paid out, thereby certificate of contributions available which would have been sent to investors prior to enlargement.

Completed the process of notarization, and once the available public documents that attest to the operation performed, shall be submitted to the Commercial Register for the registered office of the Company Touted for its registration.

Finally, we will proceed to registration of new investors in the Book of Register of Members of the organization, task that is responsible the administrators or, where appropriate, representatives of the body administration.

6.3. Investment certification.

Once the process of enlargement is completed, the company promoted You should send to investors and LIGNUM CAPITAL a single copy of the following documents:

  1. A copy of the scriptures or certificate containing the extension capital and other agreements.

  2. A copy of the new bylaws.

  3. A copy of the membership agreement signed by all investors.

Investor acknowledges that, as a result of your investment and therefore of Becoming partner Touted Company is subject to the provisions contained in the documentation referred to above, assuming the rights and obligations that corresponded to him as a partner.

VII. ECONOMIC CONDITIONS.

7.1. Commission.

LIGNUM CAPITAL bill a commission of 5% (+ VAT) on funds obtained for the promoted Society. However, the Commission reduced to 2% (+ VAT) on the proceeds provided by investors Promoter had succeeded.

The commission is charged only on success of the campaign, when reaches at least 90% of the target funding.

Once successfully completed the process of capital, the Company Promotora paid into account the commission cited by capturing operation capital.

The promoter is responsible for the payments and charges relating to quotas, taxes, fees and other amounts or concepts that must be paid to third parties as a result of the formalization of Investment and the capital, pledging, therefore, hold harmless LIGNUM CAPITAL of any claim in respect thereof.

7.2. Billing.

LIGNUM CAPITAL issue an invoice that will be sent to Promoter for payment after the notarization of the capital.

In the case of disagreeing or error, the Promoter shall notify in within five working days, following the complaint of the reasons timely.

VIII. RESOLUTION.

  1. LLIGNUM CAPITAL reserves the right to promote unilateral resolution of these Terms and Conditions and resolve the relationship with the entrepreneur in the following cases:

    1. For breach of the terms and conditions established by the entrepreneur.

      By suspicion or knowledge and evidence that the Entrepreneur has been involved in any illegal activity or criminal and suspected or knew that the intention of the Promoter respect of the funds raised is malicious, to finance criminal activity or conducted within the framework of an operation money laundering and in order to whiten inverted amounts.

    In any of the above cases, proceed to LIGNUM CAPITAL reimbursement of guarantees that investors had contributed, losing These participation rights in the capital of the development company and the possibility of investing in the campaign is disabled.

  2. The Entrepreneur reserves the right to promote the unilateral termination of these Terms and Conditions and resolve the relationship with LIGNUM CAPITAL, in the following cases:

    1. CAPITAL LIGNUM for breach of the Terms and Conditions.

    2. Because the developer decides to cancel the release of its Project on the website, for any reason, and in those cases, LIGNUM inform the team CAPITAL.

    In any of the above cases, proceed to LIGNUM CAPITAL reimbursement of guarantees that investors had contributed, losing these rights of participation in the capital of the company promoter, proceeding to the withdrawal of the campaign.

  3. The investor may withdraw at any time, in its condition Web user platform by completing the form low. It will proceed to close its account, the termination of their Facts Access and new notifications via email will not be made.

    In the case that the inverter curse low, pending formalizing a have made investment will lose its right to participate in the capital of the development company and proceed to LIGNUM CAPITAL repayment guarantee provided.

IX. INTERPRETACIÓN.

This document "Terms and Conditions" are governed by and construed under Spanish law.

Any doubt, question or dispute that may arise in the interpretation and compliance with the provisions of this private document, shall submit to arbitration under the relevant legislation.

Also, for such issues, the parties, renouncing any other jurisdiction which may apply, submit themselves to the Courts and Courts of Madrid.