Please help with legal issue

Hi All

I have purchased a good hotel domain and want to join a hotel affiliate.

There terms of termination are:

6. TERMINATION

6.1 Either party may terminate this Agreement at any time during the term by giving seven (7) days written notice of termination to the other party or upon the happening of any one or more of the following events:-

(a) where the other party is an individual, he commits an act of bankruptcy or is declared bankrupt or insolvent or his estate otherwise becomes liable to be dealt with under any law relating to bankruptcy and/or insolvency;

(b) where the other party is a company, a resolution is passed or Court Order made for the winding up of that party or an Administrator is appointed to that party pursuant to any relevant law;

(c) a receiver or manager or receiver and manager is appointed to the assets or undertaking of the other party or any part thereof; or

(d) the date of expiry without rectification of a notice referred to in this paragraph, that is to say:-

(i) if the other party fails duly and punctually to carry out any obligation on its part to be performed or observed pursuant to this Agreement; and
(ii) the failure is not rectified within seven (7) days after service of written notice on the other party specifying the nature of the failure and directing the other party to whom the notice is addressed to rectify the failure or cause the failure to be rectified;
and upon service of such notice of termination this Agreement will be deemed terminated.

I'm new to affiliates so does this mean that as long as I give seven days written notice I can cancel my agreement with these guys? I dint want to sign up to something that I cant get out of.

Thanks

James

 

So effectively if in two years I want to sell the domain or not renew I'm stuffed?

I guess I wont click accept. Thanks for the info.

James