These Terms were last updated on September 18, 2019.
These Procurify Terms of Service (together with the Order Form signed by Procurify and the Customer, the “Agreement”) are an agreement between the person visiting, browsing, accessing, downloading, installing or otherwise using (the terms “use” and “using” will refer to any of the foregoing) the Platform (such person, the “Customer”) and Procurify Technologies Inc. (“Procurify”, Procurify and Customer, the “Parties” and each, a “Party”), and is entered into the earlier of: (a) the date Customer first uses any part of the Platform; and (b) the date Customer agrees to be bound by this Agreement (the “Effective Date”).
BY USING THE PLATFORM (INCLUDING THE WEBSITE), CUSTOMER ACKNOWLEDGES THAT CUSTOMER HAS READ, ACCEPTS AND AGREES TO BE BOUND BY AND COMPLY WITH THE TERMS AND CONDITIONS SET OUT IN THIS AGREEMENT, AS AMENDED FROM TIME TO TIME IN ACCORDANCE WITH SECTION 13(k). IF CUSTOMER DOES NOT ACCEPT AND AGREE TO BE BOUND BY THIS AGREEMENT, CUSTOMER WILL IMMEDIATELY CEASE ANY FURTHER USE OF THE PLATFORM. CUSTOMER REPRESENTS AND WARRANTS TO PROCURIFY THAT CUSTOMER HAS THE CAPACITY TO ENTER INTO THIS LEGALLY BINDING AGREEMENT. IF CUSTOMER IS USING THE PLATFORM ON BEHALF OF ANOTHER PERSON, CUSTOMER HEREBY REPRESENTS AND WARRANTS TO PROCURIFY THAT CUSTOMER HAS THE AUTHORITY TO BIND SUCH PERSON TO THIS AGREEMENT.
(a) “Confidential Information” has the meaning set out in Section 9(a).
(b) “Customer Data” means any data, information, content, records, and files that Customer (or any of its Users) loads, receives through, transmits to or enters into the Platform or otherwise provides to Procurify, including any and all intellectual property rights in any of the foregoing.
(c) “De-Identified Data” means all Customer Data that is not Personal Information.
(d) “Documentation” means the Onboarding Business Requirement document as signed by Procurify and the Customer during the onboarding process.
(d) “Fees” has the meaning set out in Section 8.
(e) “Modifications” means modifications, improvements, customizations, updates, enhancements, aggregations, compilations, Derivative Works, translations, adaptations and results from processing in any form or medium, and “Modify” has a corresponding meaning.
(f) “Order Form” means the document signed by both Customer and Procurify setting out the number of Users and Fees for the Services.
(g) “Personal Information” means information about an identifiable individual.
(h) “Platform” means: (i) the software, hardware, and systems used by Procurify to host and make available the Services; and (ii) the Website.
(j) “Professional Services” means all implementation and training services.
(k) “Property” has the meaning set out in Section 3.
(l) “Recipient” has the meaning set out in Section 9(a).
(m) “Services” means the services provided by the Procurify products hosted on the Website, which provides streamlined purchasing processes for businesses, including integrated to carry out and document requests, approval, purchases, receipt and payment for purchases.
(n) “Term” has the meaning set out in Section 12(a).
(o) “Training Program” means the Procurify training program for new customers which includes: (i) an onboarding call [or email] introducing Procurify’s Customer Success Manager and establishing a time frame for go-live; (ii) setup of account and configuration acceptance; and (iii) training session for Users.
(p) “User” has the meaning set out in Section 6(a).
(q) “Website” means any websites used by Procurify to provide the Services, including the website located at www.procurify.com and the associated mobile app(s).
(a) Provisioning of the Platform. Subject to Customer’s compliance with the terms and conditions of this Agreement, Procurify will make the Platform available to Customer on the terms and conditions set out in this Agreement.
(b) Limitation, Suspension, or Termination of Access; Platform Upgrades and Scheduled Downtime. Procurify may, at its discretion and without notice: (i) suspend, terminate, or limit Customer’s access to or use of the Platform or any component thereof; or (ii) Modify the Platform. Procurify will use commercially reasonable efforts to provide reasonable advance notice of such suspension, termination, or limitation.
To the extent that any Procurify training services, implementation services, or other professional services are listed in the Order Form, Procurify will perform such services in accordance with this Agreement and, as applicable, the project plan agreed by the parties. Customer acknowledges that Procurify’s ability to perform such services is dependent on the performance of certain Customer responsibilities, including as set out in the agreed project plan or as identified to Customer from time to time. If Customer is delayed in performing, or fails to perform, any Customer responsibilities, Procurify may amend the project plan to extend the project plan schedule and suspend provision of the affected services until Customer and Procurify agree on any Fee increases that are related to such failure or delay. Unless otherwise set out in the Order Form, all Fees for professional services are non-refundable.
Procurify has implemented and will maintain commercially reasonable organizational and technical safeguards to protect Customer Data against unauthorized access, use or disclosure of Customer Data. Customer will retain ownership of all Customer Data. Procurify may use Customer Data to perform its obligations (including providing services) and exercise its rights in this Agreement. Procurify may also collect, generate and use De-Identified Data for the purposes of operational metrics and product development, provided that such De-Identified Data is in aggregate form only and does not identify Customer or the identity of a customer’s users, vendors or customers.
If Customer subscribes to a free account offered by Procurify or if Customer’s account is suspended, Customer acknowledges that any data Customer enters into the Platform may be permanently lost and not recoverable.
(a) Customer User Account. Upon Customer’s request, Procurify will issue an account (a “Customer User Account”) to Customer for use by individuals who are employees or contractors of Customer that Customer wishes to have access to and use of the Platform (each, a “User”). Customer will ensure that Users only use the Platform through the Customer User Account. Customer will not allow Users to share the Customer User Account with any other person. Customer will promptly notify Procurify of any actual or suspected unauthorized use of the Platform. Procurify reserves the right to suspend, deactivate, or replace the Customer User Account if it determines that the Customer User Account may have been used for an unauthorized purpose or if Customer fails to pay any Fees within 45 days following the date that the applicable Fees have become due.
(b) Use Restrictions. Customer acknowledges and agrees that it is responsible for the compliance by all Users with this Agreement, any guidelines and policies published by Procurify from time to time, and the activities of all Users on the Platform. Without limiting the generality of any of the foregoing, Customer will not, and will not permit any other person (including any Users) to:
(i) use the Platform to send, upload, collect, transmit, store, use, disclose or process, or ask Procurify to obtain from third parties or perform any of the above with respect to, any Customer Data:
(A) that contains any computer viruses, worms, malicious code, or any software intended to damage or alter a computer system or data;
(B) that Customer or the applicable User does not have the lawful right to send, upload, collect, transmit, store, use, disclose, process, copy, transmit, distribute and display;
(C) that violates any applicable laws, or infringes, violates or otherwise misappropriates the intellectual property or other rights of any third party (including any moral right, privacy right or right of publicity); or
(ii) disable, overly burden, impair, or otherwise interfere with servers or networks connected to the Platform (e.g., a denial of service attack);
(iii) attempt to gain unauthorized access to the Platform;
(iv) use any data mining, robots, or similar data gathering or extraction methods, or copy, Modify, reverse engineer, reverse assemble, disassemble, or decompile the Platform or any part thereof or otherwise attempt to discover any source code, except as expressly provided for in this Agreement;
(v) use the Platform for the purpose of building a similar or competitive product or service; or
(vi) use the Platform other than as permitted by this Agreement.
Customer will generally have access to support services generally made available by Procurify to its Customers, as described in the Support Level Agreement, as modified by Procurify from time to time. Without limiting Procurify’s other rights, Procurify may suspend Customer’s access to the support services upon notice if Customer has not paid any Fees within 30 days of the date that such Fees become due.
(a) Fees. Customer will pay to Procurify the applicable fees set out in the Order Form (the “Fees”) during the Term in accordance with the payment terms set out herein and in the Order Form. If Customer’s usage exceeds the service capacity set forth on an Order Form or otherwise requires the payment of additional fees (pursuant to the terms of this Agreement), Customer will be billed for such usage in accordance with Procurify’s then-current rates and Customer will pay the additional fees in accordance with this Agreement. Unless otherwise noted on an Order Form, all Fees are identified in US dollars and are payable in advance.
(b) Invoicing. Procurify will prepare and send to the Customer, at the then-current contact information on file with Procurify, an invoice for any Fees that have become due and payable. Unless otherwise expressly stipulated in the Order Form, Customer will pay all invoiced amounts within 30 calendar days of the invoice date. Without limiting Procurify’s other rights, Procurify may suspend Customer’s access to the Platform and any related services upon notice if Customer has not paid any Fees within 30 days of the date that such Fees become due.
(c) Disputed Invoices or Charges. If Customer believes Procurify has charged or invoiced Customer incorrectly, Customer must contact Procurify no later than 30 days after having been charged by Procurify or receiving such invoice in which the error or problem appeared in order to receive an adjustment or credit. In the event of a dispute, Customer will pay any disputed amounts in accordance with the payment terms herein, and the Parties will discuss the disputed amounts in good faith in order to resolve the dispute.
(d) Late Payment. Customer may not withhold or “setoff” any amounts due under this Agreement. Procurify reserves the right to suspend Customer’s access to the Services until all due amounts are paid in full. Any late payment will be increased by the costs of collection (if any) and will incur interest at the rate of two percent (2%) compounded monthly (26.82% annually), or the maximum legal rate (if less) per month or fraction thereof, plus all expenses of collection, until fully paid.
(e) Certain Taxes. The Fees set out in this Agreement do not include applicable sales, use, gross receipts, value-added, GST or HST, personal property or other taxes, and all applicable duties, tariffs, assessments, export and import fees or similar charges (including interest and penalties imposed thereon) on the transactions contemplated in connection with this Agreement, and Customer will pay, indemnify and hold harmless Procurify from same, other than taxes based on the net income or profits of Procurify.
(f) Refund Policy. If Procurify removes any material functionality described in the Order Form from the Platform, Customer may, upon providing notice to Procurify within 30 days of such removal, request a refund pursuant to this Section. To submit a refund request, Customer shall (i) reference this Section; and (ii) submit a support request, in writing, describing the material removal of functionality and how it has affected Customer’s operations. If Procurify is unable to make available equivalent functionality in the Platform within 30 days of such request, then Customer may, as its sole remedy, terminate the applicable Term and receive a refund of any prepaid, unused subscription fees (except for any applicable professional service fees) paid to Customer for the unused period of any such terminated Term. Notwithstanding the foregoing, this warranty shall not apply to any deficiency due to any modification or defect that is made or caused by someone other than Procurify.
(g) Payment by Credit Card. By providing credit card billing information to Procurify, Customer authorizes Procurify to charge such credit card for Fees and any other payment to be made under this Agreement by the applicable date that such payment becomes due.
(a) Definitions. For purposes of this Agreement, a Party receiving Confidential Information (as defined below) will be the “Recipient” and the Party disclosing such information will be the “Discloser” and “Confidential Information” means any and all information of Discloser disclosed by Discloser to Recipient or otherwise coming into the possession of Recipient during the Term that is marked as “confidential” or that a reasonable person would understand to be confidential; provided that Discloser’s Confidential Information does not include, except with respect to Personal Information: (i) information already known or independently developed by Recipient outside the scope of this relationship by personnel not having access to any Discloser’s Confidential Information; (ii) information that is publicly available through no wrongful act of Recipient; or (iii) information received by Recipient from a third party who was free to disclose it without confidentiality obligations. Notwithstanding the foregoing the terms and conditions of this Agreement and all Property (including any part thereof), whether marked as “confidential” or not, will be Procurify’s Confidential Information and will not be Customer’s Confidential Information.
(b) Confidentiality Covenant. Recipient hereby agrees that during the Term and at all times thereafter it will not: (i) disclose such Confidential Information of the Discloser to any person, except to its own personnel or affiliates having a “need to know” and that have entered into written agreements no less protective of such Confidential Information than this Agreement, and to such other recipients as the Discloser may approve in writing; (ii) use Confidential Information of the Discloser except to exercise its license rights or perform its obligations under this Agreement; or (iii) alter or remove from any Confidential Information of the Discloser any proprietary legend. Recipient will be deemed to have discharged its confidentiality obligations under this Section 9 (Confidential Information) if Recipient uses the same degree of care in safeguarding the Confidential Information of Discloser as it uses in protecting its own confidential information of a similar nature from unauthorized disclosure.
(c) Exceptions to Confidentiality. Notwithstanding Section 9(b), Recipient may disclose Discloser’s Confidential Information: (i) to the extent that such disclosure is required by applicable law or by the order of a court or similar judicial or administrative body, provided that the Recipient promptly notifies the Discloser in writing of such required disclosure and cooperates with the Discloser to seek an appropriate protective order; (ii) to its employees, accountants, internal and external auditors, legal counsel and other professional advisors if and to the extent such persons need to know such Confidential Information in order to provide applicable professional advisory services related to Procurify’s business; or (iii) in the case of Procurify, to potential assignees, acquirers or successors of Procurify if and to the extent such persons need to know such Confidential Information in connection with a potential sale, merger, amalgamation or other corporate transaction involving the business or assets of Procurify.
(a) Customer Warranty. Customer represents and warrants to, and covenants with Procurify that the Customer Data will only contain Personal Information in respect of which Customer has provided all notices and disclosures (including to each User), obtained all applicable third party consents and permissions and otherwise has all authority, in each case as required by applicable laws, to enable Procurify to provide the Services, including with respect to the collection, storage, access, use, disclosure and transmission of Personal Information, including by or to Procurify and to or from all applicable third parties.
(b) GENERAL DISCLAIMER. EXCEPT AS EXPRESSLY SET OUT IN THIS AGREEMENT AND TO THE EXTENT PERMITTED BY APPLICABLE LAW, PROCURIFY HEREBY DISCLAIMS ALL EXPRESS, IMPLIED, COLLATERAL OR STATUTORY WARRANTIES, REPRESENTATIONS AND CONDITIONS, WHETHER WRITTEN OR ORAL, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, MERCHANTABLE QUALITY, COMPATIBILITY, OR FITNESS FOR A PARTICULAR PURPOSE OR USE, OR ANY WARRANTIES OR CONDITIONS ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. PROCURIFY DOES NOT WARRANT THAT THE PLATFORM (OR ANY PART THEREOF) WILL OPERATE WITHOUT INTERRUPTION OR BE ERROR FREE, OR THAT ALL ERRORS CAN OR WILL BE CORRECTED. WITHOUT LIMITING THE GENERALITY OF ANY OF THE FOREGOING, PROCURIFY EXPRESSLY DISCLAIMS ANY REPRESENTATION, CONDITION OR WARRANTY THAT ANY DATA OR INFORMATION PROVIDED TO CUSTOMER IN CONNECTION WITH CUSTOMER’S USE OF THE PLATFORM (OR ANY PART THEREOF) IS ACCURATE, OR CAN OR SHOULD BE RELIED UPON BY CUSTOMER FOR ANY PURPOSE WHATSOEVER.
(c) Indemnity. Customer shall defend and indemnify Procurify and its affiliates (and their respective directors, employees, representatives, agents, and contractors) from and against all damages, losses, penalties, and expenses (including legal expenses) arising out of or related to any third party claim, suit, or proceeding based on the Customer Data or its use by Procurify as permitted in this Agreement. Procurify shall defend and indemnify Customer and its affiliates (and their respective directors, employees, representatives, agents, and contractors) from and against all damages, losses, penalties, and expenses (including legal expenses) arising out of or related to any third party claim, suit, or proceeding based on such third party’s allegation that Customer’s use of the Platform in accordance with this Agreement infringed such third party’s intellectual property rights, provided that Procurify will have no responsibility under this Section to the extent that such infringement was caused by changes or components, added, made or requested by Customer or if Customer fails to cease use of the Platform following Procurify’s notice to Customer that an infringement allegation has been made or is likely to be made.
The Parties acknowledge that the following provisions have been negotiated by them and reflect a fair allocation of risk and form an essential basis of the bargain and will survive and continue in full force and effect despite any failure of consideration or of an exclusive remedy:
(a) AMOUNT. EXCEPT FOR DAMAGES OR LOSSES CAUSED BY A PARTY’S INTENTIONAL MISCONDUCT IN WHICH CASE TOTAL AGGREGATE LIABILITY SHALL NOT EXCEED $1,000,000.00, IN NO EVENT WILL THE TOTAL AGGREGATE LIABILITY OF EITHER PARTY IN CONNECTION WITH OR UNDER THIS AGREEMENT EXCEED THE AMOUNT OF FEES PAID BY CUSTOMER IN THE PRIOR 12 MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM. FOR GREATER CERTAINTY, THE EXISTENCE OF ONE OR MORE CLAIMS UNDER THIS AGREEMENT WILL NOT INCREASE THIS MAXIMUM LIABILITY AMOUNT. IN NO EVENT WILL PROCURIFY’S THIRD PARTY SUPPLIERS HAVE ANY LIABILITY ARISING OUT OF OR IN ANY WAY CONNECTED TO THIS AGREEMENT.
(b) TYPE. TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, IN NO EVENT WILL A PARTY BE LIABLE TO THE OTHER PARTY FOR ANY: (I) SPECIAL, EXEMPLARY, PUNITIVE, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES; (II) LOST SAVINGS, PROFIT, DATA, USE, OR GOODWILL; (III) BUSINESS INTERRUPTION; (IV) ANY COSTS FOR THE PROCUREMENT OF SUBSTITUTE PRODUCTS OR SERVICES; (V) PERSONAL INJURY OR DEATH; OR (VI) PERSONAL OR PROPERTY DAMAGE ARISING OUT OF OR IN ANY WAY CONNECTED TO THIS AGREEMENT, REGARDLESS OF CAUSE OF ACTION OR THE THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE, GROSS NEGLIGENCE, FUNDAMENTAL BREACH, BREACH OF A FUNDAMENTAL TERM) OR OTHERWISE AND EVEN IF NOTIFIED IN ADVANCE OF THE POSSIBILITIES OF SUCH DAMAGES.
(a) Term. This Agreement will commence on the Effective Date and continue for the period set out in the Order Form. The agreement will automatically renew for successive 12-month periods (each, a “Renewal Period”) unless either party gives the other written notice of non-renewal at least 60 days in advance of renew date or the contract is terminated according to Section 12(b) (collectively, the initial term and any renewal term are the "Term"). Procurify may increase the Fees during any Renewal Period upon at least 90 days’ prior notice to Customer, provided that Procurify will not increase the Fees during a Renewal Period by more than 7% unless otherwise agreed by the Parties in writing. For avoidance of doubt, the foregoing does not limit any permitted Fee increases during the Term pursuant to Section 8(a).
(b) Termination for Cause. Either Party may, in addition to other relief, terminate this Agreement if the other Party commits a material breach of any provision of this Agreement and fails within 30 days after receipt of notice of such breach to correct such material breach or to commence corrective action reasonably acceptable to the aggrieved Party and proceed with due diligence to completion, in each case unless the material breach is not capable of being cured.
(c) Survival. The following Sections, together with any other provision of this Agreement which expressly or by its nature survives termination or expiration, or which contemplates performance or observance subsequent to termination or expiration of this Agreement, will survive expiration or termination of this Agreement for any reason: Section 3 (Reservation of Rights), Section 4 (Procurify’s Right to Use Customer Data), Section 9 (Confidential Information), Section 10 (Warranty; Disclaimer; Indemnity), Section 11 (Limitation of Liabilities), Section 12(c) (Survival), and Section 13 (General Provisions).
(a) Publicity. Procurify may refer to Customer as being a customer of Procurify and may use Customer’s corporate name and logo for this purpose, with prior consent from Customer.
(b) Notices. Notices sent to either Party will be effective when delivered in person or by email, one day after being sent by overnight courier, or two days after being sent by first class mail postage prepaid to the official contact designated by the Parties and immediately after being received by the other Party’s server. Notices must be in writing and sent: (i) if to Procurify, to the following addresses:
300-455 Granville Street
British Columbia, V6C 1T1
and (ii) if to Customer, to the current postal or email address that Procurify has on file with respect to Customer. Procurify may change its contact information by posting the new contact information on the Website or by giving notice thereof to Customer. Customer is solely responsible for keeping its contact information on file with Procurify through the Platform current at all times during the Term.
(c) Assignment. Customer will not assign this Agreement to any third party without Procurify’s prior written consent. Procurify may assign this Agreement or any rights under this Agreement to any third party without Customer’s consent. Any assignment in violation of this Section will be void. This Agreement will inure to the benefit of and be binding upon the Parties, their permitted successors and permitted assignees.
(d) Choice of Law. This Agreement and any action related thereto will be governed by and construed in accordance with the substantive laws of the Province of British Columbia and the federal laws of Canada applicable therein, without regard to conflicts of law principles. The Parties will initiate any lawsuits in connection with this Agreement in Vancouver, British Columbia, Canada, and irrevocably attorn to the exclusive personal jurisdiction and venue of the courts sitting therein. The U.N. Convention on Contracts for the International Sale of Goods will not apply to this Agreement.
(e) Construction. Except as otherwise provided in this Agreement, the Parties’ rights and remedies under this Agreement are cumulative. The term “include” and “including” mean, respectively, “include without limitation” and “including without limitation.” The headings of sections of this Agreement are for reference purposes only and have no substantive effect. The terms “consent” or “discretion”, when used in respect of Procurify in this Agreement means the right of Procurify to withhold such consent or exercise such discretion, as applicable, arbitrarily and without any implied obligation to act reasonably or explain its decision to Customer.
(f) Force Majeure. Neither Party will be liable for delays caused by any event or circumstances beyond Procurify’s reasonable control, including acts of God, acts of government, flood, fire, earthquakes, civil unrest, acts of terror, strikes or other labour problems (other than those involving Procurify’s employees), Internet service provider failures or delays, or the unavailability or Modification by third parties of third party websites.
(g) Severable. Any provision of this Agreement found by a tribunal or court of competent jurisdiction to be illegal or unenforceable will be severed from this Agreement and all other provisions of this Agreement will remain in full force and effect.
(h) Waiver. A waiver of any provision of this Agreement must be in writing and a waiver in one instance will not preclude enforcement of such provision on other occasions.
(i) Independent Contractors. Customer’s relationship to Procurify is that of an independent contractor, and neither Party is an agent or partner of the other. Customer will not have, and will not represent to any third party that it has, any authority to act on behalf of Procurify.
(j) Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter of this Agreement and supersedes all other communications, whether written or oral.
(k) Amendments. Subject to the following sentence, no amendment, supplement, modification, waiver, or termination of this Agreement and, unless otherwise expressly specified in this Agreement, no consent or approval by any Party, will be binding unless executed in writing by the Party or Parties to be bound thereby. NOTWITHSTANDING THE PRECEDING SENTENCE, PROCURIFY MAY UNILATERALLY AMEND THIS AGREEMENT, IN WHOLE OR IN PART (EACH, AN “AMENDMENT”), BY: (I) GIVING CUSTOMER PRIOR NOTICE OF SUCH AMENDMENT; OR (II) POSTING NOTICE OF SUCH AMENDMENT ON THE WEBSITE. UNLESS OTHERWISE INDICATED BY PROCURIFY, ANY SUCH AMENDMENT WILL BECOME EFFECTIVE AS OF THE DATE THE NOTICE OF SUCH AMENDMENT IS PROVIDED TO CUSTOMER OR IS POSTED ON THE WEBSITE (WHICHEVER IS THE EARLIER). YOUR CONTINUED USE OF THE PLATFORM AFTER SUCH AMENDMENT IS ACKNOWLEDGMENT OF AND AGREEMENT WITH SUCH AMENDMENT.
(l) English Language. It is the express wish of the Parties that this Agreement and all related documents be drawn up in English. C’est la volonté expresse des parties que la présente convention ainsi que les documents qui s’y rattachent soient rédigés en anglais.
Procurify expressly reserves all rights, title, and interest in, and Customer will not acquire any right, title or interest in: (i) the Platform (or any part thereof) and any other materials or content provided by Procurify under this Agreement, including any and all Modifications to any of the foregoing; and (ii) all intellectual property rights in any of the foregoing (clauses (i) and (ii) are collectively, the “Property”). All right, title and interest in the Property will remain with Procurify (or Procurify’s third party suppliers, as applicable). For greater certainty, while the Property is made available to the Customer pursuant to Section 2 of this Agreement, the Property is not “sold” to Customer.