These License Terms (the “License Terms”) are part of the Placeholder Terms of Service and Placeholder Policies and supplement and are incorporated into the Agreement. These License Terms include additional terms and conditions under which you may act as a Host or Guest through the Placeholder Platform under the Agreement.

Please read these License Terms carefully as they contain important information about your legal rights, remedies and obligations. By accessing or using the Placeholder Platform, you agree to comply with and be bound by these License Terms.

All capitalized terms have the meaning set forth in the Placeholder Terms of Service or Payment Terms of Service, unless otherwise defined in these License Terms. If there is a conflict between these License Terms and the remainder of the Agreement, the terms of the Agreement not included in these License Terms will take precedence.

1.0. License. Subject to the terms and conditions of the Agreement, a Booking creates a limited and non-transferrable license granted to a Guest by a Host to enter and occupy a Place and use a Host Service for the duration of the Booking Term (the “License”).

2.0. Term. The Term of the License shall begin on the first date that a Host Service is provided in a Place as specified by a Booking (“Start Date”). The “Commitment Term” means the period of a License during which a Guest cannot cancel a Booking and receive a full refund of amounts paid, in accordance with this Agreement and the Cancellation Policy. The Term of the License shall end on the last day of the Commitment Term, if defined in the Booking, or thirty (30) days after the Start Date, if no Commitment Term is defined in the Booking, upon which the License will automatically and continuously renew for subsequent thirty (30) day terms until such time when the Member or Placeholder cancels the Booking and declares an expiration date for the License (“End Date”) in accordance with this Agreement and the Cancellation Policy. There will be no additional Setup Fees for Licenses that renew.

3.0. Cancellation. The Host and the Guest shall not cancel the Booking except as provided in the Cancellation Policy.

4.0. List Fee Changes. The List Fee cannot be changed by the Host during the Commitment Term. If the Host chooses to change the List Fee after the end of the Commitment Term, the Host shall provide the Guest and Placeholder with sixty (60) days’ written notice of such change. Changes to the List Fee will take effect upon the beginning of the next full month sixty (60) days after the written notice was provided.

5.0. Payment. Within five 5) days of the Booking Date, the Initial Payment is due and payable by the Guest. During the Booking Term, the Total Fees are due and payable by the Guest monthly on the day shown on the Booking Confirmation and will be automatically debited using the Guest’s Payment Method. All payments required under the Booking must be made directly to Placeholder in accordance with this Agreement. The Guest shall not make any payments directly to the Host, the Host’s landlord, or any other third party and the Host shall not facilitate any prohibited payment.