At any time during the Term of the ISP Agreement, provided you are not in default of any part of the ISP Agreement, you may request that visp.net and/or assigns (herein, Buyer) purchase your accounts.
Buyer may then, at its option, purchase your accounts according to the terms below or as may be negotiated between the parties and terminate the ISP Agreement. To execute this option, you agree to provide written notice. You will then assign ISP’s domain name and all dubscribers using visp.net Products and Services to buyer. You further agree to provide all data and Subscriber materials including but not limited to signed Subscriber agreements and application forms related to your Active accounts to Buyer and will assist Buyer in making an orderly transition of the accounts. Thereafter, Buyer will directly invoice these active accounts for Internet services. Each month for the next 12 months, Buyer will remit to you payments not to exceed the income received minus your cost for services required to support your subscribers. For example: If you have 1000 Active dial-up accounts who each pay monthly, and you sell dial-up access for $20.00 per month, with a cost for services of $10.00 each, the formula would be 1000 x $10.00 or $10,000 per month for a total of $120,000 over the following 12 months, assuming 100% retention. Actual retention will vary.
- Buy-out start date: Since [ISP] will have already collected the subscriber revenue for the 1st buy-out month, [ISP] will be responsible to pay the wholesale invoice for that 1st month.
- Pre-paid services: These are funds that have already been paid to [ISP] by subscribers for future month’s services. The prepaid funds for the dialup subscribers as of [Date] were [Amount]. Once the buy-out period is established, we’ll update that total. If you can forward that amount to us, the buy-out payments would begin the first month. Please advise if that is possible. We will process any subscriber refund requests for prepayment once the buyout starts.
- Payments received by [ISP] for existing customers after the buyout begins: [ISP] will forward those payments by first class mail on the day of receipt to visp.net.
- Automated subscriber credit card payments: These payments will be switched to a visp.net IP Pay account.
- Subscriber refunds due to billing errors: Any reasonable refund demand by a subscriber for services before the transfer will be given and reduce the buyout payment for that month. Example: Customer cancelled in July but the account was not canceled in the software. The auto billing continued billing the subscriber through Sept. We would refund Aug and Sept. This is a very remote likelihood of happening beyond a couple accounts at most.
- Domain Name: The domain name [ISP] will need to be transferred to visp.net.
- Subscriber change notification: Our account manager will work with you on sending notices to subscribers with the new billing address.
- Past-Due subscriber accounts: All accounts are set as current, unless they are prepaid. If they are past due on the date the buy-out begins, it is the ISP's responsibility to collect those funds.
- Comp’d Subscriber Accounts: The average profit was computed with the wholesale price of these accounts taken into account. These accounts will be honored through the buy-out period.
- Once the buy-out is executed it cannot be reversed without written approval from visp.net.