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TERMS AND CONDITIONS OF USE

The Terms and Conditions of Use ("Terms of Use") set forth herein are legally binding terms and restrictions governing the use by users ("Users,” “you,” or “your”) of the website located at www.laurenshope.com (“Website”) and all of the content, applications, products, and services offered from time to time by, on, or through the Website (collectively, the Website and all of its content, applications, products, and services offered from time to time are referred to herein as “Services”). The Website and Services are owned by Lauren’s Hope, LLC, a Missouri limited liability company(“LH", "us", "we", or "our"). By accessing, visiting, and/or using the Website, you agree to be legally bound by these Terms of Use, our Privacy Policy (the “Privacy Policy”), and any and all other policies that are contained on the Website, each of which is incorporated herein by reference. If you do not agree to these Terms of Use, do not access, visit, or use this Website.

BY ACCESSING, VISITING AND/OR USING THE WEBSITE, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTAND, AND AGREE TO BE BOUND BY THESE TERMS OF USE AND THE OTHER POLICIES INCORPORATED HEREIN.

  1. 1. Description of Services; Acceptance of Terms of Use.
    The Website allows users to view and purchase a full line of personalized medical alert jewelry and related products (the “Products"). Before accessing, visiting, or using the Website, you must read and accept all of the terms and conditions contained herein. Each person that uses the Services in any way (a) must be eighteen (18) years of age or older or an emancipated minor and (b) fully able and competent to abide by these Terms of Use. Notwithstanding the previous sentence, the Website is not designed for individuals under the age of 13. Therefore, you hereby affirm that you are 13 years of age or older. IF YOU ARE UNDER THE AGE OF 13, DO NOT USE THE SERVICES AND/OR VISIT THE WEBSITE. Each use of the Services by you in any way constitutes your acceptance of these Terms of Use (including any posted guidelines, rules, policies, or codes of conduct), which may be revised by LH from time to time.
  2. 2. User Accounts.
    Users may be required to establish a User account and log in to the Website in order to purchase Products or use other Services. You acknowledge and agree that you will be responsible for each and every access or use of the Website with your user name and password, and that LH is authorized to accept such user name and password as conclusive evidence that you wish to use the Website and Services, including, without limitation, to purchase Products. LH has no responsibility to monitor the use of your user name and password and is not liable for any unauthorized use of your user name and password.
  3. 3. Grant of Right to Use Services.
    Provided that you remain in compliance with all terms and conditions hereof, LH grants to you a revocable, non-exclusive, non-transferable, non-sublicensable license to use the applicable Services offered from time to time on the Website. All other rights in and to the Website and Services (excluding title to Products purchased by you), including, without limitation, all Website Content (defined below), including any goodwill associated therewith, are retained by LH.
  4. 4. Permitted Uses; Compliance with Laws.
    You may ONLY use the Services for lawful purposes and in accordance with these Terms of Use. You agree to comply with all applicable laws, statutes, ordinances, and regulations regarding your use of the Services.
  5. 5. Website Content.
    You agree that all material, including, without limitation, information, data, software, text, design elements, graphics, images and other content (collectively, “Content”), contained in or delivered via the Services or otherwise made available by LH in connection with the Services (collectively, “Website Content”) is protected by copyrights, trademarks, service marks, trade secrets or other intellectual property and proprietary rights and laws. LH may own the Website Content or portions of the Website Content may be made available to LH through arrangements with third parties. Except as expressly authorized by LH in writing or in connection with your use of the intended functionality of the Services, you agree not to sell, license, rent, modify, distribute, copy, reproduce, transmit, publicly display, publicly perform, publish, adapt, edit or create derivative works of any Website Content, or post any Website Content on any other website or in a networked computer environment for any purpose. Reproducing, copying or distributing any Website Content for any other purpose is strictly prohibited without the express prior written permission of LH. You shall use the Website Content only for purposes that are permitted by these Terms of Use and any applicable laws and regulations (foreign and domestic). Any rights not expressly granted herein are reserved.
  6. 6. Privacy Policy; Limited Authorization to Use and Disclose Your Information
    You hereby acknowledge that LH intends to and will from time to time collect, retain, and disclose information and data collected from you in accordance with LH’s Privacy Policy. You hereby consent, as a condition of your use of the Services, to the collection, use, processing, and transfer of your information as described in these Terms of Use and the Privacy Policy. While LH uses commercially reasonable efforts to safeguard your data transmitted while using the Services, LH does not warrant that the data will be transported without unauthorized interception or modification or that the data will not be accessed or compromised by unauthorized third parties.
  7. 7. Terms of Sale for Products
    1. a. Payment. You agree that you will purchase Products in accordance with the pricing as set forth on the Website. All payments are transacted through third-party payment processors (“Payment Processors”). LH is not collecting or storing any payment information. All such information is collected and used by the Payment Processors in order to facilitate the completion of the transaction. You understand and acknowledge that when you complete a purchase, you are doing so via the applicable Payment Processor’s service and agree that you will be bound by the applicable terms of use governing such service. Moreover, you agree that LH shall not have any liability with respect to payments made in connection with the Services.
    2. b. Billing Before Shipment. For orders placed online through the Website, payment may be captured up to 10 days before the order is shipped.
    3. c. Returns and Repairs. Any requests for returns or repairs will be handled in accordance with LH’s Return/Repair Policy in place at the time of the return/repair request, the terms of which are incorporated herein by reference (the “Repair Policy”).
    4. d. Shipping. Products will be shipped in accordance with LH’s Shipping Policy in place at the time of shipment, the terms of which are incorporated herein by reference.
    5. e. Cancellation. An order once placed and accepted by LH can be cancelled only with LH’s written consent and under terms which will reimburse LH for any loss, cost, or expense attributable to the cancellation. You acknowledge that any cancellation charges assessed in order to reimburse LH for its losses, costs, and expenses are not to be construed as a penalty. You shall remain liable for any orders cancelled and not consented to in writing by LH.
  8. 8. Warranty.
    All of our medical ID bracelets have a six (6)-month limited warranty. If a bracelet breaks for any reason within six (6) months from the date of purchase (the “Warranty Period”), we will re-strand it for free one time. For any additional repairs within the Warranty Period, and for any repairs outside of the Warranty Period, you will be charged in accordance with the Repair Policy. The foregoing limited warranty shall be contingent upon your payment in full to LH of all amounts due for the applicable Products. EXCEPT FOR THE FOREGOING WARRANTY SET FORTH IN THIS SECTION, LH MAKES NO WARRANTIES, REPRESENTATIONS, CONDITIONS OR PROMISES, EXPRESS OR IMPLIED, AS TO THE QUALITY, PERFORMANCE OR FREEDOM FROM DEFECT OF THE WEBSITE, PRODUCTS, OR SERVICES, ALL OF WHICH ARE SOLD AND/OR PROVIDED “AS IS.” WITHOUT LIMITING THE GENERALITY OF THE FOREGOING SENTENCE, LH DOES NOT REPRESENT OR WARRANT THAT THE SERVICES WILL MEET YOUR REQUIREMENTS OR THAT THEIR USE WILL BE UNINTERRUPTED OR ERROR FREE. YOU EXPRESSLY ACKNOWLEDGE THAT THE SERVICES ARE COMPUTER-NETWORK-BASED SERVICES, WHICH MAY BE SUBJECT TO UNAVAILABILITY, OUTAGES, INTERRUPTIONS, ATTACKS BY THIRD PARTIES, AND DELAY OCCURRENCES. YOU SHALL BEAR THE ENTIRE RISK AS TO THE QUALITY OF THE SERVICES OR THAT THEY WILL SATISFY YOUR NEEDS. EXCEPT FOR THOSE IMPLIED WARRANTIES, IF ANY, THAT CANNOT BE DISCLAIMED UNDER APPLICABLE LAW, LH HEREBY DISCLAIMS AND EXCLUDES ALL EXPRESS WARRANTIES AND IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT AND THOSE WARRANTIES ARISING OUT OF USAGE OF TRADE OR COURSE OF DEALING. THE LIMITED WARRANTY CONTAINED HEREIN SETS FORTH YOUR SOLE AND EXCLUSIVE REMEDY IN THE EVENT OF A DEFECT IN THE PRODUCTS.
    Our Website Content includes suggestions and examples regarding information to include on a medical ID Product, as well as general language suggesting that medical ID jewelry may assist first responders and medical care providers in more timely rendering proper medical care. WE DO NOT GUARANTEE, REPRESENT OR WARRANT THAT (a) ANY SUCH SUGGESTED INFORMATION WILL BE SUFFICIENT TO FULLY ALERT THIRD PARTIES AS TO AN INDIVIDUAL’S MEDICAL CONDITION(S), (b) PROPER, EFFECTIVE OR MORE TIMELY MEDICAL CARE WILL BE RENDERED AS A RESULT OF WEARING A MEDICAL ID PRODUCT OR (c) A MEDICAL ID PRODUCT WILL BE NOTICED BY THIRD PARTIES, INCLUDING FIRST RESPONDERS AND MEDICAL CARE PROVIDERS AND WE HEREBY DISCLAIM ANY AND ALL LIABILITY WITH REGARD TO CLAIMS BASED ON OR RELATING TO ANY OF THE FOREGOING.
  9. 9. Limitation on Liability.
    NOTWITHSTANDING ANYTHING IN THESE TERMS OF USE TO THE CONTRARY, LH AND ITS OWNERS, DIRECTORS, MANAGERS, OFFICERS, EMPLOYEES, AGENTS, LICENSEES, AND AFFILIATES (COLLECTIVELY, THE “LH PARTIES”) WILL NOT BE LIABLE FOR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE OR OTHER INDIRECT DAMAGES, EVEN IF THE LH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR THEY ARE FORESEEABLE. THE MAXIMUM AGGREGATE LIABILITY THAT ALL OF THE LH PARTIES SHALL HAVE TO USERS SHALL NOT EXCEED THE PURCHASE PRICE ACTUALLY PAID BY SUCH USER TO LH FOR THE PARTICULAR PRODUCT(S) OR SERVICES AT ISSUE. IN ADDITION, LH IS NOT AFFILIATED WITH, AND HAS NO AGENCY OR EMPLOYMENT RELATIONSHIP WITH, ANY THIRD-PARTY SERVICE PROVIDER USED IN CONJUNCTION WITH THE SERVICES (INCLUDING, WITHOUT LIMITATION, ANY PAYMENT PROCESSOR), AND LH HAS NO RESPONSIBILITY FOR, AND HEREBY DISCLAIMS ALL LIABILITY ARISING FROM, THE ACTS OR OMISSIONS OF ANY SUCH THIRD-PARTY SERVICE PROVIDER. THESE LIMITATIONS APPLY WHETHER THE LIABILITY IS BASED ON CONTRACT, TORT, STRICT LIABILITY OR ANY OTHER THEORY. THE LIMITATIONS OF LIABILITY UNDER THIS SECTION WILL SURVIVE TERMINATION OF THESE TERMS OF USE FOR ANY REASON. IN STATES THAT DO NOT ALLOW SOME OR ALL OF THE ABOVE LIMITATIONS, LIABILITY IS LIMITED TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW.
  10. 10. Your Representations and Warranties.
    You hereby represent and warrant that: (a) you are eighteen (18) years of age or older or an emancipated minor; and (b) all information you provide to LH or its respective agents is true, accurate, and complete in all material respects. Further, you hereby represent and warrant that any and all of your use of the Services will be in compliance with these Terms of Use and any additional guidelines and policies implemented by LH from time to time and posted on its Website and all applicable laws, policies, guidelines, regulations, ordinances and rules. Your representations and warranties under this Section will survive termination of these Terms of Use for any reason.
  11. 11. Indemnification.
    You hereby agree to indemnify, defend, and hold harmless the LH Parties from and against any and all causes of action, claims, costs, damages, losses, and expenses, including, without limitation, reasonable attorneys’ fees, arising from or as a result of: (a) your breach of any representation, warranty, covenant, or obligation in these Terms of Use; (b) any violation by you of any laws or regulations applicable to you, your business, or your use of the Products or Services; and (c) your use of the Products or Services in general, whether or not such use is authorized by these Terms of Use. Your indemnification obligations under this Section will survive termination of these Terms of Use for any reason.
  12. 12. Links to Other Web Sites and Resources.
    At certain places in the Services, “links” to other website addresses and resources can be accessed. The links are for convenience purposes only, and the inclusion does not imply that LH endorses these websites. Such external websites contain information created, published, maintained or otherwise posted by institutions or organizations independent of LH. LH does not guarantee the accuracy, completeness, timeliness or quality of information available from other websites. Use of any information from other websites is voluntary, and reliance on it should be undertaken only after an independent review of its accuracy, completeness, timeliness and quality. LH is not and will not be liable, directly or indirectly, for any damage or loss caused, or alleged to be caused, by, or in connection with, the use of, or the reliance upon, any information, content, goods or services available on or through any third-party websites, including resources linked to this Website.
  13. 13. Internet Software or Computer Viruses.
    Internet software or transmission problems may produce inaccurate or incomplete copies of information contained on this Website. Computer viruses and other destructive computer code may also be inadvertently downloaded from this Website. LH is not and will not be responsible or liable for any software, computer viruses, or other computer code that may adversely impact your use of your computer equipment or other property on account of your access to, use of, or browsing on this Website, or your downloading of any material as permitted by these Terms of Use. LH recommends that you install appropriate anti-virus or other protective software.
  14. 14. Termination; Survival of Provisions.
    We may terminate your access to the Website and/or your User account, without cause or notice, which may result in the forfeiture and destruction of all information associated with you. Further, the license granted to you in these Terms of Use will terminate upon the completion of Services to you. Without limiting the generality of the foregoing, the license granted to you herein shall immediately terminate if you fail to comply with any of the terms or conditions hereof. Upon termination for any reason, you will immediately cease using the Services. All provisions of these Terms of Use that by their nature should survive termination will survive termination, including, without limitation, ownership provisions, provisions regarding consent to use, process and transfer your information, warranty disclaimers, indemnity, and limitations of liability.
  15. 15. Force Majeure.
    LH shall not be liable for failure to deliver or delay in performance where such failure to deliver or delay is due, in whole or in part, to any cause beyond LH’s reasonable control. Further, LH will not have any liability for any loss caused by any interruption of telecommunications, utility, Internet-hosting, or network-provider services, software viruses, any software or technology designed to disrupt or delay the Services, act of God, strike or other labor shortage or disturbance, fire, accident, war, terrorist act or civil disturbance, failure of normal sources of supply, act of government, or any other cause beyond the reasonable control of LH. In the event of such delay, the time for performance shall be extended by a period of time reasonably necessary to overcome the effect of the delay.
  16. 16. Governing Law; Venue.
    These Terms of Use are deemed to have been entered into and the Services and Products are deemed to have been provided in the State of Missouri in the United States of America. Interpretation and enforcement of these Terms of Use will be governed by the internal laws of the State of Missouri in the United States of America, excluding its choice-of-law rules. You hereby consent to personal jurisdiction in the United States District Court for the Western District of Missouri and the state courts of Platte County, Missouri, for any action arising out of or related in any way to these Terms of Use or relating to your use of the Services (or any component of such Services) or your purchase of the Products, which courts you agree shall have exclusive jurisdiction over any such action.
  17. 17. Complete Agreement; Amendments.
    These Terms of Use (including all documentation incorporated by reference herein) constitute the complete agreement between the parties with respect to your use of the Website and the Services and your purchase of the Products. You acknowledge that no promises, representations, inducements, agreements, or warranties, other than those expressly set forth in these Terms of Use, have been made to induce you to accept these Terms of Use. YOU MAY NOT AMEND THESE TERMS OF USE EXCEPT WITH THE WRITTEN CONSENT OF LH. LH MAY AMEND THESE TERMS OF USE BY POSTING THE AMENDMENT TO THE WEBSITE AND SUCH AMENDMENTS WILL BE EFFECTIVE IMMEDIATELY UPON POSTING THE CHANGES TO THE WEBSITE. By using and/or visiting the Website after any and all amendments, you accept and agree to be bound by the amendments to these Terms of Use. You should review the Terms of Use from time to time to ensure that your use of the Services is in compliance with these Terms of Use. IF YOU DO NOT AGREE TO ANY AMENDMENT TO THESE TERMS OF USE, YOU MUST IMMEDIATELY CEASE USE OF THE SERVICES AND/OR VISITING THE WEBSITE.
  18. 18. Assignment.
    You may not assign, sublicense, lease, or otherwise transfer any of the Services (excluding Products purchased by you) to, or permit their use by, any other person without LH’s prior written consent, in each instance. LH may assign these Terms of Use to any other party without your consent.
  19. 19. Waiver.
    LH’s waiver of any condition, covenant, right or remedy under these Terms of Use will not be effective unless made in writing and any such written waiver shall not constitute a further waiver of the same or any other condition, covenant, right, or remedy.
  20. 20. Enforceability.
    If any provision of these Terms of Use is held to be invalid, illegal, or unenforceable for any reason, such provision shall be limited only to the extent necessary to make it enforceable, and all other terms and provisions shall remain in full force and effect.
  21. 21. Attorneys’ Fees.
    In addition to any other right or remedy provided to LH in these Terms of Use, if LH prevails against you, in whole or in part, in any action to enforce the provisions of these Terms of Use, whether for injunctive relief or damages or both, then in addition to all other damages or relief, LH shall be also entitled to recover from you the costs and expenses incurred in the successful pursuit of such action or portion thereof, including reasonable attorneys’ fees.

Contact. If you have any questions or concerns about these Terms of Use or the Services, then please contact us using the information provided on the Contact Us page on the Website.

Mobile Terms & Conditions

Lauren’s Hope offers its customers marketing and promotional mobile alerts (e.g. cart reminders) by SMS message (the "Service") on 48532. Customers may also sign up to receive order and shipping notifications by SMS message (the "Service") on 48532. By participating in the Service, you are agreeing to these Terms and to the Privacy Policy.

Signing Up and Opting-In to the Service
Enrollment in the Service requires you to provide your mobile phone number and to agree to these terms and conditions. You may not enroll if you are under 18 years old. Before the Service will start, you will need to agree to these Terms. Lauren’s Hope reserves the right to stop offering the Service at any time with or without notice. Lauren’s Hope also reserves the right to change the short code or phone number from which messages are sent and we will notify you when we do so.

By opting into the Service, you:

  1. a. Authorize Lauren’s Hope to use an automatic telephone dialing system to send recurring automated text messages to the mobile phone number associated with your opt-in (i.e., the number listed on the opt-in form or, if none, the number from which you send the opt-in, or, if none, the number on file for the account associated with your opt-in).
  2. b. Acknowledge that you do not have to agree to receive messages as a condition of purchase.
  3. c. Confirm that you are the subscriber to the relevant phone number or that you are the customary user of that number on a family or business plan and that you are authorized to opt in.
  4. d. Consent to the use of an electronic record to document your opt-in. To request a free paper or email copy of the opt-in or to update our records with your contact information, please visit https://www.laurenshope.com/contact-laurens-hope or call 1-800-360-8680. To view and retain an electronic copy of these Terms or the rest of your opt-in, you will need (i) a device (such as a computer or mobile phone) with Internet access, and (ii) and either a printer or storage space on such device. For an email copy, you'll also need an email account you can access from the device, along with a browser or other software that can display the emails.

Content You May Receive
Once you affirm your choice to opt-in to the Service on 48532, your message frequency may vary. You may receive alerts about:

  1. a. Sale promotions
  2. b. Event informations
  3. c. Product launch announcements
  4. d. Cart reminders
  5. e. Back In Stock Alerts
  6. f. Price Drop Alerts
  7. g. Low Inventory Alerts

Once you affirm your choice to opt-in to the Service on 48532, your message frequency may vary. You may receive alerts about:

  1. A. An order has been placed
  2. B. An order has been shipped
  3. C. An order has been delivered

Charges and Carriers
Message and data rates may apply. Please consult your service agreement with your wireless carrier or contact your wireless carrier to determine your phone's pricing plan and the charges for sending and receiving text messages. You acknowledge that you are responsible for any message, data or other charges incurred (usage, subscription, etc.) as a result of using the Service.

Supported carriers are AT&T, T-Mobile, Verizon Wireless, Sprint, Boost, Virgin Mobile, U.S. Cellular, Cricket, Alltel, Cincinnati Bell, Cellcom, C-Spire, nTelos, MetroPCS, and other smaller regional carriers. The Service may not be available on all wireless carriers. Lauren’s Hope may add or remove any wireless carrier from the Service at any time without notice. Lauren’s Hope and the mobile carriers are not responsible for any undue delays, failure of delivery, or errors in messages.

To Stop the Service
To stop receiving text messages from Lauren’s Hope, text the word STOP to 48532 any time or reply STOP to any of the text messages you have received from Lauren’s Hope.  This is the exclusive method for opting out. After texting STOP to 48532, you will receive one additional message confirming that your request has been processed.

Questions
You can text HELP for help at any time to 48532. This will provide you with a URL and phone number to customer service (https://www.laurenshope.com/contact-laurens-hope and 1-800-360-8680). You can also contact us at Lauren’s Hope, 1425 Swift St, Suite 100, North Kansas City, MO, 64116.

Changes to Terms
These mobile terms and conditions are subject to change at any time without notice.

Arbitration and Class Action Waiver

Please read this carefully.  It affects your rights. Any dispute or claim relating in any way to your use of [LAUREN'S HOPE, LLC's services] will be resolved by binding arbitration, rather than court.

This agreement to arbitrate is intended to be broadly interpreted, and expressly includes claims brought under the Telephone Consumer Protection Act, 47 U.S.C. § 227 et seq., or any other statute, regulation, or legal or equitable theory.  You and LAUREN'S HOPE, LLC hereby agree that the Federal Arbitration Act, 9 U.S.C. 1, et seq. (“FAA”) applies to this agreement to arbitrate, and governs all questions of whether a dispute is subject to arbitration.  Unless you and we agree otherwise in writing, arbitration shall be administered by the American Arbitration Association’s Consumer Arbitration Rules in effect at the time of filing of the arbitration (the “AAA’s Rules”).  However, just as a court would, the arbitrator or arbitrators must honor the terms and limitations in this Agreement, and can award damages and relief (including any attorneys’ fees) authorized by law and/or the AAA’s Rules.  The arbitration decision and award is final and binding, with some exceptions under the FAA, and judgment on the award may be entered in any court of competent jurisdiction.  YOU AGREE THAT, BY ENTERING INTO THIS AGREEMENT, YOU AND LAUREN'S HOPE, LLC ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY AND THE RIGHT TO PARTICIPATE IN ANY CLASS, REPRESENTATIVE, OR COLLECTIVE PROCEEDING.

THIS AGREEMENT DOES NOT ALLOW FOR CLASS ARBITRATIONS EVEN IF THE PROCEDURES OR RULES OF THE AAA WOULD.  RATHER, YOU AND WE ARE ONLY ENTITLED TO PURSUE ARBITRATION ON AN INDIVIDUAL, BILATERAL BASIS.  FURTHER, AND UNLESS YOU AND LAUREN'S HOPE, LLC AGREE OTHERWISE IN WRITING, THE ARBITRATOR(S) MAY NOT CONSOLIDATE MORE THAN ONE INDIVIDUAL PARTY’S CLAIMS WITH ANY OTHER PARTY’S CLAIMS, AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR COLLECTIVE PROCEEDING.

You and LAUREN'S HOPE, LLC are each responsible for our respective costs relating to counsel, experts, and witnesses, as well as any other costs relating to the arbitration.  LAUREN'S HOPE, LLC, however, will pay for the arbitration administrative or filing fees, including the arbitrator and/or other AAA case management fees, for any claim seeking $75,000 or less, unless the claim is determined by the arbitrator to be frivolous.  Otherwise, the AAA’s Rules regarding costs and payment apply.

This agreement to arbitrate does not preclude you from bringing issues to the attention of federal, state, or local agencies. Such agencies can, if the law allows, seek relief against us on your behalf.

If any term of this Section (Arbitration and Class Action Waiver) is to any extent illegal, otherwise invalid, or incapable of being enforced, such term shall be excluded to the extent of such invalidity or unenforceability; all other terms hereof shall remain in full force and effect; and, to the extent permitted and possible, the invalid or unenforceable term shall be deemed replaced by a term that is valid and enforceable and that comes closest to expressing the intention of such invalid or unenforceable term.  If application of this Severability provision should materially and adversely affect the economic substance of the transactions contemplated hereby, the Party adversely impacted shall be entitled to compensation for such adverse impact, provided the reason for the invalidity or unenforceability of a term is not due to serious misconduct by the Party seeking such compensation.