General Terms and Conditions
LimeWire does not enter into any business relationships with the following persons or entities, does not accept them as a LW-Client and no such person or entity may register a LW-Client Account or use any of the LimeWire Systems:
LimeWire may, in addition, at any time exclude any person or jurisdiction from its services at its own sole discretion.
Persons and entities from the United States of America may use the services of LimeWire only at their own risk.
LimeWire reserves the right to terminate the business relationship (including the block (Blockierung) of a transaction, reverse (Rückabwicklung) of a transaction, suspension (Aussetzung) of a transaction) immediately for cause if, in particular but not limited to:
Partner Account. The LimeWire Client instructs and authorises LimeWire to open an account with the Partners in its name and for its account. For this purpose, LimeWire forwards all the information provided to the Partners in order to create a user account with these Partners in the name and for the account of the LimeWire Client ("Partner Account"). A LimeWire Client cannot use the products and services offered by LimeWire until a Partner Account has been successfully created. The LimeWire Client hereby releases LimeWire from any restrictions on self-contracting and dual agency (under section 1009 of the Austrian Civil Code (Allgemeines bürgerliches Gesetzbuch) or otherwise) in connection with the opening of the Partner Account. The Partner Terms and Conditions have to be accepted by the LW-Client and, if applicable, the Partner's AML/KYC procedure has to be successfully completed. Only after having successfully completed the Partner's AML/KYC procedure, one can use LimeWire Systems.
NFT Asset License and Unlockable Content License referred to together as "License".
Royalties. For each Secondary Market Exchange and any subsequent sale of a LW-NFT, the Creator shall receive a share of the net sales price in the amount displayed before a Final Offer Exchange ("Royalty"). Royalties are set at a fixed rate of 2.5%. The net sales price shall be understood to be the sales price paid by any subsequent purchase of a LW-NFT without VAT. Any subsequent Seller of the NFT must take this into account when reselling a LW-NFT and inform the Purchaser accordingly.
Using LimeWire Systems and the assets offered on LimeWire Systems bears risks which each in the worst case may lead to the total loss of your investment. These risks are in particular, but not limited to the following:
Planned maintenance work, updates or upgrades that not only temporarily restrict the functioning of LimeWire Systems or cause it to fail will be communicated to the LimeWire Client in a suitable manner (for example, by email) in a reasonable amount of time in advance. Such maintenance work will be completed as soon as possible, but at least within two weeks.
Unplanned maintenance work that is necessary due to technical defects or force majeure will be carried out as soon as possible.
The processing of your personal data is carried out in strict compliance with the applicable data protection regulations. You can find more information on this in our data protection declaration under https://limewire.com/privacy.
Special Provisions for the Subscription Model
If you are both a Subscriber and a Creator then your account will be deleted in two stages.
In the LimeWire GTC, the following terms have the meanings specified or referred to in the following overview and shall be equally applicable to both the singular and plural forms.
means the second factor used for the 2FA other than the password – E-mail.
means the two-factor authentication system implemented by LimeWire on LimeWire Systems to verify the identity of a LW Client by combining two different and independent components (factors).
means the crypto currencies USDC, BTC, ETH, ALGO and LMWR.
Additional Creator Agreement
means separate agreements concluded between LimeWire and certain Creators.
means the cryptocurrency Algorant.
means a programming interface (Application Programming Interface)
means the crypto currency Bitcoin.
Client Bank Account
means a payment service provider account associated with a LW-Client Account.
means a state when a LW-Client does not pay the amount owed to LimeWire when due.
Client Verification Process
means the necessary process a LW-Client must complete if they exceed a certain transaction and/or withdrawal limit.
means a LW-Client (e.g. an artist), who provides the NFT Asset for individual LW-NFTs and who may in cooperation with LimeWire promote, market and exchange the LW-NFT via LimeWire Systems.
means the Subscriber Payments reduced by the LW-Fee.
means a subsection on the LimeWire Platform, which can be created and personalized by a Creator and can be used to display and/or promote the Creator's own LW-NFTs and personal brands.
means the fiduciary agreement between the LW-Client and LimeWire GmbH with regard to the custody LW-NFT.
means a second LW-Client Account created by a single LW-Client.
means the crypto currency Ethereum.
means Primary Market Exchanges and Secondary Market Exchanges referred to together.
means the transfer of your respective LW-NFTs from your Wallet to a cryptographic wallet outside LimeWire Systems.
Final Offer Exchange
means a binding offer from a Purchaser to a Seller to accept the receipt of a single (or multiple) LW-NFT(s) from the Seller in exchange for Vouchers corresponding to the value specified in US-Dollar, which is settled in Vouchers.
Final Offer Click Exchange
means clicking/confirming the "Exchange Now" button in relation to a Final Offer Exchange.
means the Austrian Federal Act on the Prevention of Money Laundering and Terrorist Financing in the Financial Market (Financial Market Money Laundering Act – FM-GwG).
means the fee that may by charged by LimeWire to the LW-Client, provided that the LW-Client did not us their Vouchers for an uninterrupted period of 365 days (Reference Period).
means, the InterPlanetary File System, a decentralized Peer-to-Peer storage network.
means the Austrian Consumer Protection Act (Konsumentenschutzgesetz).
means NFT Asset License and Unlockable Content License referred to together.
"LimeWire" or "we"
means LimeWire GmbH, with its corporate seat in A-1010 Vienna, Elisabethstraße 15/5a+5b.
LimeWire Custodial Services
means the service provided by LimeWire of holding LW-NFT in custody for LimeWire Clients on your behalf on a custodial basis with LimeWire as trustee and the LW-Client as trustor.
means the general terms and conditions of LimeWire GmbH.
means any individual online or electronic platform or mobile application of LimeWire as well as associated APIs of such platform or application.
means the LimeWire Token.
means every LW-Client for whom the transaction is part of the operation of their business according to cf. section 1 para 1 of the Austrian Consumer Protection Act (Konsumentenschutzgesetz).
"LW-Client" or "you"
means a person, who has successfully completed the registration process (which is confirmed by LimeWire) as set forth in point 4.1 of the LimeWire GTC.
means the user account a LW-Client creates by registering on a LimeWire System.
means every LimeWire Client for whom the transaction is not part of the operation of their business according to cf. sec 1 para 1 of the Austrian Consumer Protection Act (Konsumentenschutzgesetz).
means the group of LW-Clients without Creators.
has the meaning set forth in point 31.1.
means a NFT, which is stored, traded and transferred within LimeWire Systems.
means a unique digital token (entry) created on a blockchain and which can be a digital visualization of works of art or any other creative content (e.g. music, videos, illustrations).
means a distribution of LW-NFTs to existing Wallets by LimeWire.
means the artwork (e.g. cover picture), which is directly connected with the LW-NFT and, if applicable, the unlockable content (e.g. a music file) available via the LimeWire Systems.
means rights concerning the artwork granted to you, as NFT-Holder.
means the person controlling the cryptographic wallet storing the respective LW-NFT, Subscription LW-NFT or any other NFT (e.g. by having access to the private and public key).
means the URL contained in the LW-NFT referring to the digital storage space of the publicly available NFT Asset.
means a subsection within LimeWire Systems, which allows the sale and purchase of LW-NFTs between LW-Clients.
means the acceptance of the Final Offer Exchange by LimeWire on behalf of the Seller by way of a factual fulfilling of the offer (tatsächlicher Erfüllung des Angebots) within the Offer Period.
means the invitation by a Seller to other LW-Clients to submit a Final Offer Exchange for a specific LW-NFT (invitation ad offerendum).
Offer Invitation Click
means clicking/confirming the "Offer Now" button in relation to an Offer Invitation.
means the period of 48 hours after the respective Final Offer Click Exchange, during which you are bound by a Final Offer Exchange.
means the first account created by a LW-Client.
means any natural or legal person, which LimeWire cooperates to offer LimeWire's services.
means the user account of a LW-Client with a Partner.
Primary Market Exchange
means first transactions of LW-NFTs via the NFT-Marketplace between LW-Clients.
means the LW-Client buying a LW-NFT via the NFT-Marketplace.
means the (uninterrupted) period of 365 days during which the LW-Client should use their Voucher within the NFT-Marketplace, otherwise an inactivity fee may incur.
means the share of the net sales price of a LW-NFT, which belongs to the Creator of the LW-NFT, for each Secondary Market Exchange and/or any other subsequent sale.
Secondary Market Exchange
means subsequent transactions of LW-NFT via the NFT-Marketplace after the Primary Market Exchange.
means the LW-Client selling a LW-NFT via the NFT-Marketplace.
every LW-End-Customer who has a Subscription.
means any transaction between a Subscriber and a Creator on one of the LimeWire Systems regarding a Subscription.
means all payments a Subscriber pays to the Creator regarding a Subscriber/Creator Transaction.
means a LW-End-Customer's subscription to a Creator Page (whether paid or unpaid, and regardless the term).
means other content than Subscription LW-NFTs (e.g. demos, backstage videos, exclusive access), which can be made available to Subscribers.
means fractionalized LW-NFTs, which can be made available to Subscribers.
means certain perks, from which Subscribers may benefit under any active Subscription.
Third Party Services
means any website or service not provided by LimeWire (e.g. third party wallet services).
means content, which is only available to NFT-Holders of specific LW-NFTs via LimeWire Systems (e.g. pictures, songs or personalized messages).
Unlockable Content License
means rights concerning the Unlockable Content granted to you, as NFT-Holder.
means the Austrian Copyright Act.
means US-Dollar Coin, which is a stablecoin by Circle Internet Financial Limited.
has the meaning set forth in point 16.6.1.
means the Wallet for all Vouchers.
means a single respective storing sub-account assigned to each individual LW-Client used by LimeWire Systems in its own digital storing system.