Common use of Eligible Entity Clause in Contracts

Eligible Entity. In order to compete in the Competition and/or receive: (i) any portion of any prize purse; (ii) any other monetary payment; or (iii) any nonmonetary consideration (collectively, “Award”) under this Agreement, Team must be either a single individual or organized under a single legal entity. Team must be an “Eligible Entity,” defined for the purposes of this Agreement as an entity that is: 3.1.1 A single individual (provided that such individual is the only member of the Team); 3.1.2 A valid existing legal entity (e.g., corporation, LLC, Sole proprietorship, nonprofit etc.) that is duly organized and in good standing in the jurisdiction of its organization; 3.1.3 Organized in a jurisdiction where participation in the Competition is not prohibited; 3.1.4 Organized and operated in such a way that payments in U.S. Dollars may be legally deposited from the United States into a Team bank account. XPRIZE encourages participation by individuals and teams from around the world without regard to race, nationality, politics or ideology. However, United States law prohibits the exchange of services with, or payment of money to, individuals and entities in certain countries. To be eligible, a team must not include any individual or entity organized or with primary residence in Cuba, Iran, North Korea, Sudan, Syria, or where otherwise prohibited by law (See ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/resource- center/sanctions/programs/pages/programs.aspx 3.1.5 Must not be linked, directly or indirectly, to organizations or individuals associated with terrorism; 3.1.6 Must not and must ensure that its employees, agents, or representatives do not engage in any dishonesty in obtaining a benefit, or causing a loss, by deception or other means, and includes incidents of attempted, alleged, suspected, or detected fraud (“Fraudulent Activity”). 3.1.7 Active in the Competition, meaning that it must not have withdrawn, been terminated, or been disqualified from the Competition; and 3.1.8 In full compliance with the terms and conditions of this Agreement. 3.1.9 If at any time during the Competition, a Team’s legal status or make-up changes, Team must provide written notice to XPRIZE within ten (10) business days of change. Failure to notify XPRIZE of changes to a Team’s legal status or make-up may result in loss of eligibility. 3.1.10 If Team is not an Eligible Entity at any time, XPRIZE will have the right to reject Team’s “Registration” (as defined in Section Error! Reference source not found.) or disqualify Team under Section 3.5 below if it is already registered, and Team will have no right or opportunity to cure.

Eligible Entity. In order to compete in the Competition and/or receive: (i) any portion of any prize purse; (ii) any other monetary payment; or (iii) any nonmonetary non-monetary consideration (collectively, “Award”) under this Agreement, Team must be either a single individual or organized under a single legal entity. Team must be an “Eligible Entity,” defined for the purposes of this Agreement as an entity that is: 3.1.1 A single individual (provided that such individual is the only member of the Team); 3.1.2 A valid existing legal entity (e.g., corporation, LLC, Sole proprietorship, nonprofit etc.) that is duly organized and in good standing in the jurisdiction of its organization; 3.1.3 Organized in a jurisdiction where participation in the Competition is not prohibited; 3.1.4 Organized and operated in such a way that payments in U.S. Dollars may be legally deposited from the United States into a Team bank account. XPRIZE encourages participation by individuals and teams from around the world without regard to race, nationality, politics or ideology. However, United States law prohibits the exchange of services with, or payment of money to, individuals and entities in certain countries. To be eligible, a team must not include any individual or entity organized or with primary residence in Cuba, Iran, North Korea, Sudan, Syria, or where otherwise prohibited by law (See ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/resource- /resource-center/sanctions/programs/pages/programs.aspxprogra ms.aspx 3.1.5 Must not be linked, directly or indirectly, to organizations or individuals associated with terrorism; 3.1.6 Must not and must ensure that its employees, agents, or representatives do not engage in any dishonesty in obtaining a benefit, or causing a loss, by deception or other means, and includes incidents of attempted, alleged, suspected, or detected fraud (“Fraudulent Activity”). 3.1.7 Active in the Competition, meaning that it must not have withdrawn, been terminated, or been disqualified from the Competition; and 3.1.8 In full compliance with the terms and conditions of this Agreement. 3.1.9 If at any time during the Competition, a Team’s legal status or make-up changes, Team must provide written notice to XPRIZE within ten (10) business days of change. Failure to notify XPRIZE of changes to a Team’s legal status or make-up may result in loss of eligibility. 3.1.10 If Team is not an Eligible Entity at any time, XPRIZE will have the right to reject Team’s “Registration” (as defined in Section Error! Reference source not found.4 below) or disqualify Team under Section 3.5 below if it is already registered, and Team will have no right or opportunity to cure.

Eligible Entity. In order to compete in the Competition and/or receive: (i) any portion of any prize purse; (ii) any other monetary payment; or (iii) any nonmonetary non-monetary consideration (collectively, “Award”) under this Agreement, Team must be either a single individual or organized under a single legal entity. Team must be an “Eligible Entity,” defined for the purposes of this Agreement as an entity that is: 3.1.1 A single individual (provided that such individual is the only member of the Team); 3.1.2 A valid existing legal entity (e.g., corporation, LLC, Sole proprietorship, nonprofit etc.) that is duly organized and in good standing in the jurisdiction of its organization; 3.1.3 Organized in a jurisdiction where participation in the Competition is not prohibited; 3.1.4 Organized and operated in such a way that payments in U.S. Dollars may be legally deposited from the United States into a Team bank account. XPRIZE encourages participation by individuals and teams from around the world without regard to race, nationality, politics or ideology. However, United States law prohibits the exchange of services with, or payment of money to, individuals and entities in certain countries. To be eligible, a team must not include any individual or entity organized or with primary residence in Cuba, Iran, North Korea, Sudan, Syria, or where otherwise prohibited by law (See ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/resource- center/sanctions/programs/pages/programs.aspx 3.1.5 Must not be linked, directly or indirectly, to organizations or individuals associated with terrorism; 3.1.6 Must not and must ensure that its employees, agents, or representatives do not engage in any dishonesty in obtaining a benefit, or causing a loss, by deception or other means, and includes incidents of attempted, alleged, suspected, or detected fraud (“Fraudulent Activity”). 3.1.7 Active in the Competition, meaning that it must not have withdrawn, been terminated, or been disqualified from the Competition; and 3.1.8 In full compliance with the terms and conditions of this Agreement3. 3.1.9 If at any time during the Competition, a Team’s legal status or make-up changes, Team must provide written notice to XPRIZE within ten (10) business days of change. Failure to notify XPRIZE of changes to a Team’s legal status or make-up may result in loss of eligibility. 3.1.10 If Team is not an Eligible Entity at any time, XPRIZE will have the right to reject Team’s “Registration” (as defined in Section Error! Reference source not found.) or disqualify Team under Section 3.5 below if it is already registered, and Team will have no right or opportunity to cure.