Welcome to Thinking Machine’s Master Software as a Service Subscription Agreement (the “Agreement”). This is a contract between you, the person entering into an order form (“Customer”), and us, Thinking Machine Systems Limited, a company incorporated and registered in England and Wales with company number 12031891 whose registered office is at 85 Great Portland street, First Floor, London, W1W7LT (below mentioned as “Supplier”) and we want you to know your and our, rights before you use the Services. Please read this Agreement before signing the Order Form (defined below). Once you sign the Order Form, unless otherwise agreed between us in writing, it means you agree to these terms and will abide by them throughout the duration of our relationship.
BACKGROUND
(A) The Supplier has developed a software as a service solution made available to subscribers via a web-portal on a subscription basis for the purpose of extracting value from technology services and contracts.
(B) The Customer wishes to use the Supplier’s service for its internal business operations.
(C) The Supplier has agreed to provide, and the Customer has agreed to take and pay for the Supplier’s Service subject to the terms and conditions of this Agreement, and the applicable Order Form.
AGREED TERMS
1. Interpretation
1.1 The definitions and rules of interpretation in this clause apply in this Agreement.
Authorised Users: those employees, agents and independent contractors of the Customer who are authorised by the Customer to use the Services.
Business Day: a day other than a Saturday, Sunday or public holiday in England when banks in London are open for business.
Confidential Information: all material, non-public, business-related information, written or oral, whether or not it is marked as such, that is disclosed or made available to the receiving party, directly or indirectly, through any means of communication or observation.
Controller, processor, data subject, personal data, personal data breach, processing and appropriate technical and organisational measures: as defined in the Data Protection Legislation.
Customer Data: the data input by the Customer, Authorised Users, or the Supplier on the Customer’s behalf for the purpose of using the Services or facilitating the Customer’s use of the Services.
Data Protection Legislation: the UK Data Protection Legislation and any other European Union legislation relating to personal data.
Documentation: this Agreement and any additional document provided by Supplier to the Customer from time to time in connection with this Agreement setting out a description or any instructions of the Services.
Effective Date: the date agreed on the Order Form or other related agreement made in writing by the parties as the commencement data for the Services.
Intellectual Property Rights: patents, utility models, rights to inventions, copyright and neighbouring and related rights, trademarks and service marks, business names and domain names, rights in get-up and trade dress, goodwill and the right to sue for passing off or unfair competition, rights in designs, rights in computer software, database rights, rights to use, and protect the confidentiality of confidential information (including know-how and trade secrets) and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world.
Normal Business Hours: 9.00 am to 5.00 pm GMT time, each Business Day.
Order Form: means the order form relating to the Services executed or legally accepted by the Customer as binding and incorporated into this Agreement for all legal purposes.
Services: a service solution made available to subscribers via a web-portal on a subscription basis for the purpose of extracting value from technology services and contracts as per further described in the Order Form or other related agreement made in writing by the parties. Any new releases, corrections, updates, and/or other software provided to Customer by Supplier shall be deemed Services under this Agreement.
Software: the online software applications provided by the Supplier as part of the Services.
Subscription Fees: the subscription fees payable by the Customer to the Supplier, as set out in the Order Form or other related agreement made in writing by the parties.
Subscription Term: The term of this Agreement as set out in the Order Form or other related agreement made in writing by the parties.
Supplier’s Privacy Policy: Supplier’s Privacy Policy available at www.thinkingmachine.co/privacy-policy.
UK Data Protection Legislation: all applicable data protection and privacy legislation in force from time to time in the UK including the General Data Protection Regulation ((EU) 2016/679), the UK General Data Protection Regulation and the Data Protection Act 2018.
Virus: any thing or device (including any software, code, file or programme) which may: prevent, impair or otherwise adversely affect the operation of any computer software, hardware or network, any telecommunications service, equipment or network or any other service or device; prevent, impair or otherwise adversely affect access to or the operation of any programme or data, including the reliability of any programme or data (whether by re-arranging, altering or erasing the programme or data in whole or part or otherwise); or adversely affect the user experience, including worms, trojan horses, viruses and other similar things or devices.
2. Services
2.1 The Supplier hereby grants to the Customer a revocable, non-exclusive, non-transferable and non-sublicensable license, to permit the Authorised Users to use the Services during the Subscription Term solely for the Customer’s internal business operations. Customer shall not be permitted to create any derived data or works incorporating any part of the Services, nor distribute any part of the Services to any third party. Customer is solely responsible for all activities conducted under its and its Authorised User’s logins to the Services.
2.2 The Supplier shall, during the Subscription Term, provide the Services to the Customer on and subject to the terms of this Agreement.
2.3 The Supplier shall make the Services available 24 hours a day, seven days a week, except for:
(a) planned maintenance carried out during the maintenance window of 10.00 pm to 6.00 am UK time; and
(b) unscheduled maintenance performed outside Normal Business Hours, provided that the Supplier has used reasonable endeavours to give the Customer notice in advance.
2.4 The Supplier will, as part of the Services and at no additional cost to the Customer, provide the Customer with the support in relation to the Services during Normal Business Hours. When submitting a support request, Customer shall detail all information about the fault. Supplier shall use commercially reasonable efforts to remedy any faults notified to if by Customer, or provide a workaround for such fault. Supplier shall not be liable for any fault which arises as a result of any action or inaction of Customer, or any third party provider. Support services shall not be available during any planned or unscheduled maintenance periods.
2.5 The Customer shall not:
(a) distribute or transmit to the Supplier, via the Services, any Viruses;
(b) store, access, publish, disseminate, distribute or transmit via the Services any material which:
(i) is unlawful, harmful, threatening, defamatory, obscene, infringing, harassing or racially or ethnically offensive;
(ii) facilitates illegal activity;
(iii) depicts sexually explicit images;
(iv) promotes unlawful violence;
(v) is discriminatory based on race, gender, colour, religious belief, sexual orientation, disability; or
(vi) is otherwise illegal or causes damage or injury to any person or property;
and the Supplier reserves the right, on no less than thirty (30) days’ prior written notice to the Customer, such notice specifying the breach of this clause and requiring it to be remedied within the thirty (30) day period, to suspend the Customer’s access to the Services for the duration of time that the breach remains unremedied.
2.6 The Customer shall not:
(a) except as may be allowed by any applicable law which is incapable of exclusion by agreement between the parties and except to the extent expressly permitted under this Agreement:
(i) attempt to copy, modify, duplicate, create derivative works from, frame, mirror, republish, download, display, transmit, or distribute all or any portion of the Software (as applicable) in any form or media or by any means;
(ii) attempt to de-compile, reverse compile, disassemble, reverse engineer or otherwise reduce to human-perceivable form all or any part of the Software; or
(iii) damage, destroy, disrupt, disable, impair, interfere with, or otherwise impede or harm the Services in any manner
(b) access all or any part of the Services in order to build a product or service which competes directly or indirectly with the Services;
(c) use the Services to provide services to third parties;
(d) license, sell, rent, lease, transfer, assign, distribute, display, disclose, or otherwise commercially exploit, or otherwise make the Services, or part thereof, available to any third party except the Authorised Users, or
(e) attempt to obtain, or assist third parties in obtaining, access to the Services, other than as provided under this clause 2.
2.7 The Customer shall prevent any unauthorised access to, or use of, the Services and, if there is any such unauthorised access or use, promptly notify the Supplier
2.8 Customer shall be entitled to: (i) use the Documentation internally solely to support its authorized use of the Services; and (ii) make that number of copies of the Documentation as are reasonably required for it to exercise its rights hereunder. Any such copies shall include all trademarks or other proprietary legends where and as set forth in the original.
2.9 Without limiting the rights and remedies of Supplier, any use of the Services in breach of this Agreement, Documentation or Order Form(s) by Customer or Authorized Users, that in Supplier’s judgment threatens the security, integrity or availability of the Services, may result in immediate suspension of Customer’s access to the Services; provided, however, that Supplier will use commercially reasonable efforts under the circumstances to provide Customer with notice and an opportunity to remedy such violation or threat prior to such suspension.
3. Customer data
3.1 The Customer shall own all right, title and interest in and to all of the Customer Data and shall have sole responsibility for the legality, reliability, integrity, accuracy and quality of all such Customer Data.
3.2 Both parties will comply with all applicable requirements of the Data Protection Legislation and shall abide to the terms of Supplier’s Privacy Policy. This clause 3 is in addition to, and does not relieve, remove or replace, a party’s obligations or rights under the Data Protection Legislation.
3.3 The parties acknowledge that:
(a) if the Supplier processes any personal data on the Customer’s behalf when performing its obligations under this Agreement, the Customer is the controller, and the Supplier is the processor for the purposes of the Data Protection Legislation; and
(b) Supplier’s Privacy Policy sets out the scope, nature and purpose of processing by the Supplier and the types of personal data and categories of data subject applicable.
3.4 Without prejudice to the generality of clause 3.3, the Customer will ensure that it has all necessary appropriate consents and notices in place to enable lawful transfer of the personal data to the Supplier for the duration and purposes of this Agreement so that the Supplier may lawfully use, process and transfer the personal data in accordance with this Agreement on the Customer’s behalf.
3.5 Customer agrees that Supplier may include Customer’s name and logo in customer lists or related marketing and promotional material for the purpose of identifying users of Supplier’s Services.
3.6 Customer hereby grants Supplier a non-exclusive, non-transferable, perpetual, worldwide and royalty free license to collect and use data derived from the Customer’s use of the Services, in an aggregated or anonymised form, for its business operations, including, development, benchmarking, creating analysis and sales & marketing activities.
4. Supplier’s obligations
4.1 The Supplier warrants that the Services will be performed in accordance with this Agreement, the Documentation and with reasonable skill and care.
4.2 The warranty at clause 4.1 shall not apply to the extent of any non-conformance which is caused by use of the Services contrary to the Supplier’s instructions, or modification or alteration of the Services by any party other than the Supplier or the Supplier’s duly authorised contractors or agents. If the Services do not conform with the foregoing warranty, Supplier will, at its expense, correct any such non-conformance promptly.
4.3 This Agreement shall not prevent the Supplier from entering into similar agreements with third parties, or from independently developing, using, selling or licensing documentation, products and/or services which are similar to those provided under this Agreement.
4.4 The Supplier warrants that:
(a) it has and will maintain all necessary licences, consents, and permissions necessary for the performance of its obligations under this Agreement; and
(b) it will comply with all applicable laws and regulations with respect to its obligations under this Agreement;
4.5 THE EXPRESS WARRANTIES SET FORTH IN THIS AGREEMENT ARE THE ONLY WARRANTIES GIVEN BY SUPPLIER WITH RESPECT TO THE SERVICES, WHICH ARE OTHERWISE PROVIDED ON AN AS-IS, AS-AVAILABLE BASIS. SUPPLIER AND ITS LICENSORS DISCLAIM ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, BY OPERATION OF LAW OR OTHERWISE, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, IRRESPECTIVE OF ANY PREVIOUS COURSE OF DEALING BETWEEN THE PARTIES OR CUSTOM OR USAGE OF TRADE. WITHOUT PREJUDICE TO ANY OTHER PROVISION TO THE AGREEMENT, SUPPLIER DOES NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE. SUPPLIER MAKES NO WARRANTY REGARDING ANY THIRD-PARTY APPLICATION WITH WHICH THE SERVICES MAY INTEROPERATE.
5. Customer’s obligations
The Customer shall:
(a) provide the Supplier with:
(i) all necessary co-operation in relation to this Agreement; and
(ii) all necessary access to such information as may be required by the Supplier;
in order to provide the Services, including but not limited to Customer Data, documentation requested by Customer, security access information and configuration services;
(b) without affecting its other obligations under this Agreement, comply with all applicable laws and regulations with respect to its activities under this Agreement; and
(c) ensure that its network and systems comply with the relevant specifications provided by the Supplier from time to time.
6. Charges and payment
6.1 The Customer shall pay the Subscription Fees to the Supplier in accordance with this clause 6 and the Order Form, or other related agreement made in writing by the parties.
6.2 The Customer shall on the Effective Date provide to the Supplier valid, up-to-date and complete credit card details, approved purchase order information, or any other relevant valid, up-to-date and complete contact and billing details, in each case in the form acceptable to the Supplier. If the Customer provides its credit card details to the Supplier, the Customer hereby authorises the Supplier to take the Susbcription Fees from such credit card on the applicable due dates, according to the Order Form or as otherwise agreed between the parties.
6.3 If the Customer provides an approved purchase order to the Supplier, the Supplier shall invoice the Customer, on the applicable due dates according to the Order Form or as otherwise agreed between the parties, and the Customer shall pay each invoice within 30 days after the date of such invoice.
6.4 If the Supplier has not received payment within 30 days after the date of voice, it may charge Customer interest, which shall accrue on a daily basis, on such due amounts at a monthly rate equal to 1%, commencing on the due date and continuing until fully paid, whether before or after judgment.
6.5 All amounts and fees stated or referred to in this Agreement:
(a) shall be payable in pounds sterling, unless otherwise provided in the Order Form or other related agreement made in writing by the parties; and
(b) are exclusive of value added tax, which shall be added to the Supplier’s invoice(s) at the appropriate rate, if applicable.
6.6 Supplier may, once per annum, increase Customer’s Subscription Fees in line with Supplier’s then current list price, unless otherwise agreed in writing between the parties. If any increase applies to Customer, Supplier will notify Customer at least 30 (thirty) days in advance of the increased Subscription Fees taking effect.
7. Proprietary rights
7.1 The Customer acknowledges and agrees that the Supplier and/or its licensors own all intellectual property rights in and to the Services, including any modifications or improvements made thereto before or during the term of the Agreement and regardless of which party made them. Except as expressly stated in this Agreement, this Agreement does not grant the Customer any rights to, under or in, any patents, copyright, database right, trade secrets, trade names, trademarks (whether registered or unregistered), or any other rights or licences in respect of the Services.
8. Confidentiality
8.1 Each party may be given access to Confidential Information from the other party in order to perform its obligations under this Agreement. A party’s Confidential Information shall not be deemed to include information that:
(a) is or becomes publicly known other than through any act or omission of the receiving party;
(b) was in the other party’s lawful possession before the disclosure;
(c) is lawfully disclosed to the receiving party by a third party without restriction on disclosure; or
(d) is independently developed by the receiving party, which independent development can be shown by written evidence.
8.2 Subject to clause 8.4, each party shall hold the other’s Confidential Information in strict confidence and not make the other’s Confidential Information available to any third party, or use the other’s Confidential Information for any purpose other than for purposes of this Agreement.
8.3 Each party shall ensure that the other’s Confidential Information to which it has access is not disclosed or distributed by its employees or agents in violation of the terms of this Agreement.
8.4 A party may disclose Confidential Information to the extent such Confidential Information is required to be disclosed by law, by any governmental or other regulatory authority or by a court or other authority of competent jurisdiction, provided that, to the extent it is legally permitted to do so, it gives the other party as much notice of such disclosure as possible and, where notice of disclosure is not prohibited and is given in accordance with this clause 8.4, it takes into account the reasonable requests of the other party in relation to the content of such disclosure.
8.5 The Customer acknowledges that details of the Services, and the results of any performance tests of the Services, constitute the Supplier’s Confidential Information.
8.6 The above provisions of this clause 8 shall survive termination of this Agreement, however arising.
9. Indemnity
9.1 The Supplier shall indemnify the Customer from and against any direct losses suffered under a third party claim against Customer resulting from an infringement of that third-party’s intellectual property rights through the use of the Services by Customer in accordance with the terms of this Agreement.
9.2 Customer will indemnify Supplier from and against any claim brought against Supplier by a third party alleging a violation of that third party’s rights arising from Customer’s provision or use of the Customer Data.
9.3 If either party is required to indemnify the other under this Clause 9, that party shall:
(a) promptly notify the other party in writing of any claim against it in respect of which it wishes to rely on the indemnity above (IPR Claim);
(b) allow the other party, at its own cost, to conduct all negotiations and proceedings and to settle the IPR Claim; and
(c) provide the other party with such reasonable assistance regarding the IPR Claim as is reasonably requested or required.
9.4 In the defence or settlement of any claim, the Supplier may procure the right for the Customer to continue using the Services, replace or modify the Services without a material reduction or alteration in functionality so that they become non-infringing.
9.5 In no event shall the Supplier, its employees, agents and sub-contractors be liable to the Customer to the extent that the alleged infringement is based on:
(a) a modification of the Services or Documentation by anyone other than the Supplier or its agents, subcontractors or partners or with the Supplier’s consent or approval; or
(b) the Customer’s use of the Services or Documentation other than in accordance with the terms of this Agreement, an Order Form or the Documentation; or
(c) the Customer’s use of the Services or Documentation after notice of the actual infringement from the Supplier or any appropriate authority.
10. Limitation of liability
10.1 Nothing in this Agreement excludes the liability of either party:
(a) for death or personal injury caused by negligence;
(b) for fraud or fraudulent misrepresentation; or
(c) in respect of Customer, its obligation to pay Subscription Fees hereunder.
10.2 Subject to clause 10.1:
(a) neither party shall be liable whether in tort (including for negligence or breach of statutory duty), contract, misrepresentation, restitution or otherwise for any special, indirect or consequential loss, costs, damages, charges or expenses however arising under this Agreement; and
(b) each party’s total aggregate liability in contract, tort (including for negligence or breach of statutory duty), misrepresentation, restitution or otherwise, arising out of or in connection with this Agreement shall be limited to 100 % of the total Subscription Fees paid during the 12 months immediately preceding the date on which the initial claim arises.
11. Term and termination
11.1 This Agreement shall, unless otherwise terminated as provided in this clause 11, commence on the Effective Date and shall continue for the term set forth in the Order Form unless otherwise terminated in accordance with the provisions of this Agreement.
11.2 Each Order Form shall commence on its respective effective date and continue for the initial term specified in that Order Form. Thereafter, each Order Form shall automatically renew for consecutive one (1) year periods, unless or until either party sends the other written notice of non-renewal at least thirty (30) days prior to the end of the then current term.
11.3 Without affecting any other right or remedy available to it, either party may terminate this Agreement with immediate effect by giving written notice to the other party if:
(a) the other party fails to pay any amount due under this Agreement on the due date for payment and remains in default not less than 30 days after being notified in writing to make such payment;
(b) the other party commits a material breach of any other term of this Agreement, and fails to remedy that breach within a period of 30 days after being notified in writing to do so;
(c) the other party suspends, or threatens to suspend, payment of its debts or is unable to pay its debts as they fall due or admits inability to pay its debts or is deemed unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986, as if the words “it is proved to the satisfaction of the court” did not appear in sections 123(1)(e) or 123(2) of the Insolvency Act 1986;
(d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of that other party other than for the sole purpose of a scheme for a solvent amalgamation of that other party with one or more other companies or the solvent reconstruction of that other party;
(e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the other party;
(f) a creditor or encumbrancer of the other party attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the other party’s assets and such attachment or process is not discharged within 14 days; or
(g) any event occurs, or proceeding is taken, with respect to the other party in any jurisdiction to which it is subject that has an effect equivalent or similar to any of the events mentioned in clause 11.2(c) to clause 11.2(g) (inclusive).
11.4 On termination of this Agreement for any reason:
(a) unless detailed otherwise in this Agreement, all licences granted under this Agreement shall terminate and the Customer shall cease all use of the Services and Documentation (including any copies thereof) as from the date of termination of this Agreement, shall return all copies of the Documentation to Supplier, and permanently and securely delete the Documentation and any Software from any electronic media containing them; and
(b) any rights, remedies, obligations or liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach of the Agreement which existed at or before the date of termination shall not be affected or prejudiced.
12. Audit
During the Subscription Term and for a period of one (1) year thereafter Supplier or a third party on its behalf may, during normal business hours and upon reasonable notice, audit the Customer’s compliance with the terms of this Agreement. If an audit reveals any non-compliance by the Customer with these terms and conditions then, in addition to any remedies otherwise available to Supplier, Customer will reimburse Supplier for the full cost of the audit, and promptly remedy any identified non-conformances.
13. Anti-Bribery/Corruption
Each party agrees to comply with all applicable anti-corruption and anti-bribery related laws, statutes, and regulations. Customer further agrees that it has not received or been offered any illegal or improper bribe, kickback, payment, gift, or thing of value from any of Supplier’s employees or agents in connection with this Agreement. Reasonable gifts and entertainment provided in the ordinary course of business do not violate the above restriction. If Customer learns of any violation of the above restriction, Customer will use reasonable efforts to promptly notify Supplier.
14. Force majeure
The Supplier shall have no liability to the Customer under this Agreement if it is prevented from or delayed in performing its obligations under this Agreement, or from carrying on its business by acts, events, omissions or accidents beyond its reasonable control, including, without limitation, strikes, lock-outs or other industrial disputes, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of suppliers or sub-contractors, provided that the Customer is notified of such an event and its expected duration.
15. Conflict
If there is any inconsistency between the provisions of this Agreement and the provisions of the Order Form (including any special terms agreed between the parties), the provisions in the Order Form shall prevail, solely to the extent of such conflict.
16. Waiver
No failure or delay by a party to exercise any right or remedy provided under this Agreement or by law shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.
17. Rights and remedies
Except as expressly provided in this Agreement, the rights and remedies provided under this Agreement are in addition to, and not exclusive of, any rights or remedies provided by law.
18. Severance
18.1 If any provision or part-provision of this Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of this Agreement.
18.2 If any provision or part-provision of this Agreement is deemed deleted under clause 18.1 the parties shall negotiate in good faith to agree a replacement provision that, to the greatest extent possible, achieves the intended commercial result of the original provision.
19. Entire agreement
19.1 This Agreement constitutes the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.
19.2 Each party acknowledges that in entering into this Agreement it does not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement.
19.3 Each party agrees that it shall have no claim for innocent or negligent misrepresentation based on any statement in this Agreement.
20. Assignment
The Customer shall not, without the prior written consent of the Supplier, assign, transfer, charge, sub-contract or deal in any other manner with all or any of its rights or obligations under this Agreement.
21. No partnership or agency
Nothing in this Agreement is intended to or shall operate to create a partnership between the parties, or authorise either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).
22. Third party rights
This Agreement does not confer any rights on any person or party (other than the parties to this Agreement and, where applicable, their successors and permitted assigns) pursuant to the Contracts (Rights of Third Parties) Act 1999.
23. Amendments
No waiver, amendment, or modification of any provisions of this Agreement shall be effective unless in writing and signed by a duly authorised representative of the party against whom such waiver, amendment or modification is sought to be enforced Notices.
24. Notices
All notices and other communications hereunder shall be in writing and shall be deemed duly given (a) on the date of delivery if delivered personally, or by e-mail, upon acknowledgement of receipt, or (b) on the first Business Day following the date of dispatch delivered by a recognised next-day courier service.
All notices hereunder shall be delivered as above, or as otherwise agreed in writing by the parties.
25. Governing Law & Jurisdiction
This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of England and Wales. Each Party irrevocably agrees that the courts of London, England shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims).
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