GROUPON KIVA VOUCHERS/DECEMBER GROUPON-PROMOTION KIVA CARD TERMS &
A Kiva voucher purchased
via Groupon after December 8, 2010
("December Groupon Kiva Voucher")
and a December Groupon Kiva Voucher
that is converted into a Groupon-promotion Kiva
microloan card ("December Groupon-Promotion Kiva Card") are
each hybrid microloan products which allow its holder
to make microloans to borrowers identified on the www.kiva.org website
(the "Kiva Website") and/or an automatic charitable donation
or credit to Kiva. December Groupon Kiva Vouchers and December
Groupon-Promotion Kiva Cards are collectively referred to as
"December Groupon Products."
The use of a
December Groupon Product is subject to Kiva's
as well as the following terms, conditions and limitations:
- December Groupon Products may be redeemed at any time after 2:30 p.m. PST on December 14, 2010 by accessing www.kiva.org/kivagroupon and making a microloan on the Kiva Website for the full value of such December Groupon Product. The initial microloan made using funds from a December Groupon Product is referred to as the "Initial Microloan."
- May 31, 2011 Redemption Deadline:
- You understand that, in order to make a microloan via the "Kiva Website" with a December Groupon Product, such December Groupon Product must be redeemed by 11:59 p.m. PDT on May 31, 2011.
- If a December Groupon Product has not been redeemed on the Kiva Website by 11:59 p.m. PDT on May 31, 2011, then (i) the $15 portion of the December Groupon Product funded by the purchaser thereof will automatically become a charitable donation to Kiva's general operating expenses in furtherance of its 501(c)(3) purposes (for which the purchaser is eligible to receive a tax deduction) and (ii) the $10 discount portion of the December Groupon Product funded by the promotion sponsor will automatically be credited to Kiva (for which the purchaser is not eligible to receive a tax deduction). After May 31, 2011, the December Groupon Product shall no longer be used to make microloans on the site.
- If the December Groupon Product has been redeemed on the Kiva Website by 11:59 p.m. PDT on May 31, 2011, then the credits (i.e, $25) will be placed in the redeeming person's Kiva credit balance and the full $25 in credits - the $15 portion funded by the purchaser and the $10 discount portion funded by the promotion sponsor - may be used by the redeeming person for making microloans on the Kiva Website, however the $10 discount portion shall be subject to the limitations in the following section.
- Treatment of Funds Following Repayment of the Initial Microloan:
- Repayments of an Initial Microloan will first be applied to the $15 portion of the December Groupon Product funded by the purchaser thereof. If repayments of an Initial Microloan exceed the amount of the microloan portion funded by the purchaser and the individual redeeming the December Groupon Product, then such repayments shall be applied to the $10 discount portion funded by the promotion sponsor. This policy is intended to maximize the amount of any repayment that is usable by the individual redeeming the December Groupon Product.
- Any amount of the $10 discount that is repaid by borrowers of the Initial Microloan will not be refunded to the redeeming person's Kiva credit balance, but shall instead be credited to Kiva to be used in furtherance of its 501(c)(3) purposes (however the user is not eligible to receive a tax deduction with respect to the $10 discount portion of the December Groupon Product).
- A December Groupon Kiva Voucher and its associated code may, in lieu of a voucher presentation, be converted on a one-time basis as a December Groupon-Promotion Kiva Card by utilizing the December Groupon-Promotion Kiva Card paper attachment formatting option. Such December Groupon-Promotion Kiva Card is transferable, subject to all of terms, conditions and limitations set forth herein, which shall apply equally to any transferee.
- The purchaser of a December Groupon Product is the owner of such item until it is redeemed by another user. If the purchaser elects, for whatever reason, to redeem the December Groupon Kiva Product that (s)he has transferred to another person, it is the sole responsibility of the purchaser to alert his or her recipient(s) that such item is consequently no longer available to be used by the recipient. Under no circumstances may a December Groupon Product be redeemed more than once.
- Redemption of a December Groupon Product by another user (i.e., someone other than the purchaser) occurs when any portion of the value of the item is drawn upon by such user to make a transaction on Kiva. Upon such a redemption, ownership of the December Groupon Product (and the all of the value thereof) is deemed transferred in full to that redeemer.
- Please exercise appropriate precautions to safeguard December Groupon Products, as they are not refundable and no replacement credits for a particular December Groupon Product can be issued once that item has been redeemed, whether by the purchaser or another user, or if the item is lost or otherwise is no longer unavailable to purchaser or recipient.
- A December Groupon Kiva Voucher may only be purchased on the www.groupon.com website via Groupon, Inc.
These terms, conditions and limitations may be modified by Kiva in its sole discretion from time to time and such modifications shall automatically become part hereof, and shall be effective once posted by Kiva on the Kiva Website.