DF MUSIC BUY‐BACK OPTION AGREEMENT
Purchaser the parent or guardian of and DF Music Enterprise, Inc. (“DF Music”) agree as of the below date of Purchase, at Chicago, Illinois, as follows:Purchaser has purchased the new instrument described below (the “Instrument”) from DF Music.The Instrument has been purchased for use by Player, and Purchaser understands that Purchaser is solely responsible for the condition, care, insuring and maintenance of the Instrument.Provided each of the conditions enumerated below is met, and not otherwise, DF Music will repurchase the Instrument from Purchaser (a) for 70% of the Purchase price during the period commencing on the date of purchase and ending upon receipt by DF Music of the Instrument, if that receipt is not later than120 days from the date of Purchase, and (b) for 50% of the Purchase price during the period commencing on the date of purchase and ending upon receipt by DF Music of the Instrument, if that receipt is not earlier than 121 days and is not later than 365 days from the date of Purchase. If the Instrument is received by DF Music more than 365 days from the date of Purchase, DF Music has no obligation under this agreement.
Purchaser shall obtain authorization from DF Music for return of the Instrument, including obtaining delivery address, before shipping or delivery is initiated. Authorization may be via letter, facsimile or email.Upon receipt by DF Music the Instrument must be free of damage, ordinary wear and tear excepted, whether caused by negligence or otherwise, and free of any indicia that it has been worked upon or repaired.The Instrument must be Purchaser/Player’s first and only instrument subject to being repurchased by DF Music under this program.Upon receipt the Instrument is inspected and its condition approved by DF Music.
All expenses of returning the Instrument to DF Music shall be borne by Purchaser, including shipping, packing and insurance. Damage incurred in shipping shall be the responsibility of Purchaser and will not constitute ordinary wear and tear. If upon inspection DF Music determines that the condition of the Instrument does not satisfy the condition requirement of this agreement, it shall be returned to Purchaser at Purchaser’s expense, and Purchaser shall promptly remit any such expenses upon invoicing by DF Music.Nothing in this agreement precludes the parties from reaching an alternative repurchase agreement if the condition or timing terms of this agreement are not met, but nothing in this agreement requires that DF Music do so.All decisions by DF Music concerning condition of the Instrument shall be binding on Purchaser and are not subject to review.This agreement is made in Chicago, Illinois, the laws of Illinois (excluding its conflict of law provisions) shall apply to all matters arising hereunder, and the courts situated in Cook County, Illinois shall have exclusive jurisdiction over any disputes arising hereunder.
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Document Name: DF MUSIC BUY‐BACK OPTION AGREEMENT
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