It is acknowledged that BlockEdge (the "Issuer") is the issuer of the REC TOKEN and the Project-specific tokens. Accordingly, the Issuer shall be solely responsible and liable for the issuance, utility, Pool and relevant mechanisms relating to the REC TOKEN, the Project-specific tokens and the underlying REC, including the related processes such as the redemption and retirement processes thereof.
Upon the occurrence of any of the following events:
Where the underlying REC are nearing the end of their useful life or are of an older vintage, and the Issuer decides to reduce the number of the REC TOKEN, the Project-specific tokens and the underlying REC by reason of such matter;
Where the REC TOKEN, the Project-specific tokens and the underlying REC are otherwise to be disposed of by reason of disqualification under the laws of Thailand, any rules imposed by Bitkub Exchange or the whitelist disclosed by the Issuer; or
Where there is any fraud, Adverse Incident, misconduct or violation of the I-REC Code and/or any applicable standard, the laws of Thailand and/or any other governing law in connection with the underlying REC, the Project-specific tokens, the REC TOKEN, the whitelist disclosed by the Issuer, the project, the pool, or the redemption or retirement process of the underlying REC, the Project-specific tokens and/or the REC TOKEN,
the Issuer may decide to (1) reduce the number of the REC TOKEN, the Project-specific tokens and/or the underlying REC; or (2) take any other action that the Issuer deems appropriate to protect the rights and benefits of the token holders. The Issuer shall disclose any such decision to the token holders in advance of implementation.
Any unauthorized access, intrusion, penetration, hack, theft, loss, fraud, misappropriation, malware, ransomware, unlawful attack, social engineering, unauthorized transfer or any other unlawful activity, or any act or omission by the Issuer or any other person that causes or may cause any harm, loss, depletion, encumbrance or adverse impact to or in respect of the underlying REC, the Project-specific tokens and/or the REC TOKEN.