Special condition for payment of management fees by NOT A HOTEL COIN
These Terms of Use (hereinafter referred to as "Special Conditions") set forth the terms and conditions that apply when an owner of NOT A HOTEL (hereinafter referred to as "Owner") selects to pay by NOT A HOTEL COIN (hereinafter referred to as "NAC") the items of expense separately designated by NOT A HOTEL (hereinafter referred to as the "NAH") as eligible for payment by NAC issued by NOT A HOTEL DAO (hereinafter referred to as "DAO") of management fees, land lease fees and other payables that Owner is obligated to pay based on the Agreement on NOT A HOTEL Owner’s Use, Co-owners Agreement, and other related agreements (hereinafter collectively referred to as "Original Agreements") (the items of expense are hereinafter referred to as "Management Fees."). Special Conditions shall constitute a part of Original Agreements, and matters not stipulated in Special Conditions shall be governed by the provisions of Original Agreements. In the event of any conflict or inconsistency between the provisions of Special Conditions and the provisions of Original Agreements, the provisions of Special Conditions shall prevail with respect to the payment of Management Fees.
Article 1 (Definitions)
The terms used in Special Conditions shall have the meanings set forth below:
"Service" shall mean the service provided by NAH to Owner based on Special Conditions, which enables the payment of Management Fees by NAC.
"Application" shall mean the application provided by NAH to the Owner.
"Monthly Settlement Date" shall mean the 27th day of each month (or the next business day if such day falls on a financial institution's holiday).
"Property Usage Date": The date on which an Owner of a House to which Usage Lending-type Management Fees apply checks in to the House by consuming the available usage days (in the case of consecutive nights, each accommodation date counting from the check-in date as the first day).
"Lease-type Management Fees": Management fees based on the Owner's Use Agreement for properties where Original Agreements include a building lease agreement.
"Usage Lending-type Management Fees": Self-use fees based on the Owner's Use Agreement or Quasi-Owner’s Use Agreement for properties where Original Agreements include a building usage lending (loan for use) agreement or a Quasi-Owner’s Use Agreement.
Article 2 (Application for Service and Applicable Period)
If Owner wishes to use Service, Owner shall fully confirm and agree to the contents of Special Conditions.
Owner may select one of the following as the period during which Owner wishes to use Service (hereinafter referred to as "Applicable Period"):
1.First Term: From April to September (6 months)
2.Second Term: From October to March of the following year (6 months)
3.Annual: From April to March of the following year (12 months)
The application acceptance period for each item shall be as follows:
1.For First Term and Annual: From September 1 of the current year to the end of February of the following year.
2.For Second Term: From March 1 to August 31 of the current year.
Article 3 (Lending of NAC)
Owner shall lend to NAH the NAC equivalent to the full amount of Management Fees corresponding to Applicable Period selected pursuant to Article 2 (hereinafter referred to as "Loaned NAC").
The quantity of NAC to be lent pursuant to the preceding paragraph shall be calculated by dividing the estimated total amount of Management Fees (including consumption tax, in Japanese Yen) corresponding to Applicable Period by JPY 1,000 per 1 NAC.
Owner shall be deemed to have applied for Service by sending NAC to the account designated by NAH through Application, and an agreement based on Special Conditions (hereinafter referred to as "Service Agreement") shall be established.
Article 4 (Monthly settlement)
NAH shall set off the repayment obligation of Loaned NAC equivalent to the same amount against the NAC equivalent to the Lease-type Management Fees for that month on Monthly Settlement Date of each month (hereinafter referred to as "Monthly Settlement").
The JPY conversion rate for NAC applied to Monthly Settlement (hereinafter referred to as "Monthly Settlement Rate") shall be the simple moving average of the daily closing prices (in Japanese Yen) of NAC/JPY for the most recent 30 days on the cryptocurrency exchange referenced by NAH based on Monthly Settlement Date. Provided, however, that if such price is less than JPY 1,000 per 1 NAC, Monthly Settlement Rate shall be JPY 1,000 per 1 NAC (hereinafter referred to as "Special Discount").
Special Discount may be changed or abolished in the future at the discretion of NAH. In the event of any change or abolition, NAH shall notify Owner in advance.
Article 4-2 (Property Usage Settlement)
NAH shall set off the repayment obligation of Loaned NAC equivalent to the same amount against the NAC equivalent to the Usage Lending-type Management Fees borne by Owner based on Original Agreements regarding such property usage on Property Usage Date (hereinafter referred to as "Property Usage Settlement").
The JPY conversion rate for NAC applied to Property Usage Settlement (hereinafter referred to as "Property Usage Settlement Rate") shall be the daily closing price (in Japanese Yen) of NAC/JPY on the cryptocurrency exchange referenced by NAH based on Property Usage Date. Special Discount shall apply mutatis mutandis to the preceding Article.
Article 5 (Settlement and refund upon expiration of Applicable Period)
Upon expiration of Applicable Period:
(1) If the repayment obligation of Loaned NAC remains, NAH shall repay the full amount of the remaining Loaned NAC to Owner by a method designated by NAH.
(2) If no repayment obligation of Loaned NAC remains and there are remaining unpaid obligations for Management Fees to be paid, Owner shall pay such remaining obligations to NAH in Japanese Yen.
Article 6 (Prohibition of early termination)
Owner may not terminate Service Agreement during Applicable Period. Owner shall comply with Special Conditions until the expiration of Applicable Period.
Notwithstanding the preceding paragraph, Service Agreement shall terminate (1) if Owner transfers all or part of Owner's interest in the property subject to Service during Applicable Period with NAH's consent, as of the last day of the month in which the transfer execution date falls or (2) if the Service is utilized for Management Fees based on a Quasi-Owner’s Use Agreement, upon expiration of the Special Period of said Quasi-Owner’s Use Agreement. In this case, NAH shall return to Owner, by a method designated by NAH, the amount obtained by deducting the total NAC quantity of Management Fees recorded in Monthly Settlement or Property Usage Settlement up to the termination of Service Agreement pursuant to the preceding paragraph from the Loaned NAC.
Article 7 (In case of owning multiple houses)
If Owner owns multiple NOT A HOTEL houses, the application for and application of Service shall be made for each house.
Article 8 (Amendment of Special Conditions)
NAH may amend the contents of Special Conditions at its reasonable discretion if any of the following items apply:
(1) The content of the amendment is in the general interest of Owner.
(2) The content of the amendment does not contradict the purpose of Service Agreement, and is reasonable in light of the necessity of the amendment, the appropriateness of the amended content, the content of the amendment and other circumstances related to the amendment.
When NAH amends Special Conditions pursuant to the preceding paragraph, NAH shall determine the effective date of the amended Special Conditions and notify Owner of the contents of the amended Special Conditions and the effective date by a method prescribed by NAH (such as posting on the NAH's website or notification by e-mail) by the effective date.
The amended Special Conditions shall become effective from the effective date set forth in the preceding paragraph.
Article 9 (Notices)
Notices from NAH to Owner shall be given by sending an e-mail, posting on the NAH's website, or by any other method deemed appropriate by NAH, unless otherwise provided in Special Conditions.
If the notice in the preceding paragraph is given by sending an e-mail or posting on the NAH's website, such notice shall be deemed to have reached Owner when the e-mail reaches the Owner's registered e-mail address or when it is posted on the NAH's website.
Article 10 (Prohibition of assignment of rights and obligations)
Owner may not assign, pledge, or cause a third party to assume, all or part of its contractual status or its rights and obligations under Service Agreement to a third party without prior written consent of NAH.
Article 11 (Business transfer)
In the event that NAH causes a third party to succeed to the business related to Service due to a merger, split, business transfer or other reasons, NAH may assign its contractual status, rights and obligations under Service Agreement and Owner information to the successor, and Owner shall be deemed to have consented in advance to such assignment.
Article 12 (Severability)
Even if any provision of Special Conditions or part thereof is determined to be invalid or unenforceable under the Consumer Contract Act or other laws and regulations, the remaining provisions and sentences of Special Conditions shall continue in full force and effect.
Article 13 (Governing law and agreed jurisdiction)
The interpretation and application of Special Conditions shall be governed by the laws of Japan.
Any and all disputes arising between Owner and NAH in connection with Special Conditions or Service shall be subject to the exclusive agreed jurisdiction of Tokyo District Court or Tokyo Summary Court as the court of first instance, depending on the amount in controversy.
Article 14 (Rounding)
When converting from NAC to JPY based on Special Conditions, amounts shall be rounded down to three decimal places, and when converting from JPY to NAC, amounts shall be rounded up to 15 significant figures.
Supplementary Provisions
Enacted and enforced on June 1, 2025 Revised and enforced on February 1, 2026. This revision shall apply to applications made on or after the revision date, and the Special Conditions prior to the revision shall apply to applications made prior thereto.
Special Condition enacted on June 1, 2025, are stated below.
These Terms of Use (hereinafter referred to as "Special Conditions") set forth the terms and conditions that apply when an owner of NOT A HOTEL (hereinafter referred to as "Owner") selects to pay by NOT A HOTEL COIN (hereinafter referred to as "NAC") the items of expense separately designated by NOT A HOTEL (hereinafter referred to as the "NAH") as eligible for payment by NAC issued by NOT A HOTEL DAO (hereinafter referred to as "DAO") of management fees, land lease fees and other payables that Owner is obligated to pay based on the Agreement on NOT A HOTEL Owner’s Use, Co-owners Agreement, and other related agreements (hereinafter collectively referred to as "Original Agreements") (the items of expense are hereinafter referred to as "Management Fees."). Special Conditions shall constitute a part of Original Agreements, and matters not stipulated in Special Conditions shall be governed by the provisions of Original Agreements. In the event of any conflict or inconsistency between the provisions of Special Conditions and the provisions of Original Agreements, the provisions of Special Conditions shall prevail with respect to the payment of Management Fees.
Article 1 (Definitions)
The terms used in Special Conditions shall have the meanings set forth below:
"Service" shall mean the service provided by NAH to Owner based on Special Conditions, which enables the payment of Management Fees by NAC.
"Application" shall mean the application provided by NAH to the Owner.
"Monthly Settlement Date" shall mean the 27th day of each month (or the next business day if such day falls on a financial institution's holiday).
Article 2 (Application for Service and Applicable Period)
If Owner wishes to use Service, Owner shall fully confirm and agree to the contents of Special Conditions.
Owner may select one of the following as the period during which Owner wishes to use Service (hereinafter referred to as "Applicable Period"):
(1) From the month following the month in which the application date falls, up to the September of the current year (for a maximum of 6 months).
(2) From the month following the month in which the application date falls, up to the March of the following year (for a maximum of 12 months).
Article 3 (Advance payment by NAC)
Owner shall make an advance lump-sum payment of NAC equivalent to the total amount of Management Fees corresponding to Applicable Period selected pursuant to Article 2.
The quantity of NAC to be paid in advance pursuant to the preceding paragraph shall be calculated by dividing the estimated total amount of Management Fees (in Japanese Yen) corresponding to the Applicable Period by JPY 1,000 per 1 NAC.
Owner shall be deemed to have applied for Service by sending NAC to the account designated by NAH through Application, and an agreement based on Special Conditions (hereinafter referred to as "Service Agreement") shall be established.
Article 4 (Monthly settlement)
NAH shall record NAC equivalent to Management Fees for that month on Monthly Settlement Date of each month (hereinafter referred to as "Monthly Settlement").
The JPY conversion rate for NAC applied to Monthly Settlement (hereinafter referred to as "Settlement Rate") shall be the simple moving average of the daily closing prices (in Japanese Yen) of NAC/JPY for the most recent 30 days on multiple cryptocurrency exchanges referenced by NAH based on Monthly Settlement Date. Provided, however, that if such price is less than JPY 1,000 per 1 NAC, the Settlement Rate shall be JPY 1,000 per 1 NAC (hereinafter referred to as "Special Discount Measure").
Special Discount Measure may be changed or abolished in the future at the discretion of NAH. In the event of any change or abolition, NAH shall notify Owner about them in advance.
Article 5 (Settlement and refund upon expiration of Applicable Period)
Upon expiration of Applicable Period, if the total NAC quantity of Management Fees recorded in Monthly Settlements exceeds the NAC quantity paid in advance, NAH shall return NAC equivalent to the difference to Owner by a method designated by NAH.
Article 6 (Prohibition of early termination)
Owner may not terminate Service Agreement during Applicable Period. Owner shall comply with Special Conditions until the expiration of Applicable Period.
Notwithstanding the preceding paragraph, if Owner transfers all or part of Owner's interest in the property subject to Service during Applicable Period with NAH's consent, Service Agreement shall terminate as of the last day of the month in which the transfer execution date falls. In this case, NAH shall return to Owner ,by a method designated by NAH, the NAC quantity remaining after deducting the total NAC quantity of Management Fees recorded in Monthly Settlements up to the termination of Service Agreement pursuant to the preceding paragraph from NAC quantity paid in advance.
Article 7 (In case of owning multiple houses)
If Owner owns multiple NOT A HOTEL houses, the application for and application of Service shall be made for each house.
Article 8 (Amendment of Special Conditions)
NAH may amend the contents of Special Conditions at its reasonable discretion if any of the following items apply:
(1) The content of the amendment is in the general interest of Owner.
(2) The content of the amendment does not contradict the purpose of Service Agreement, and is reasonable in light of the necessity of the amendment, the appropriateness of the amended content, the content of the amendment and other circumstances related to the amendment.
When NAH amends Special Conditions pursuant to the preceding paragraph, NAH shall determine the effective date of the amended Special Conditions and notify Owner of the contents of the amended Special Conditions and the effective date by a method prescribed by NAH (such as posting on the NAH's website or notification by e-mail) by the effective date.
The amended Special Conditions shall become effective from the effective date set forth in the preceding paragraph.
Article 9 (Notices)
Notices from NAH to Owner shall be given by sending an e-mail, posting on the NAH's website, or by any other method deemed appropriate by NAH, unless otherwise provided in Special Conditions.
If the notice in the preceding paragraph is given by sending an e-mail or posting on the NAH's website, such notice shall be deemed to have reached Owner when the e-mail reaches the Owner's registered e-mail address or when it is posted on the NAH's website.
Article 10 (Prohibition of assignment of rights and obligations)
Owner may not assign, pledge, or cause a third party to assume, all or part of its contractual status or its rights and obligations under Service Agreement to a third party without prior written consent of NAH.
Article 11 (Business transfer)
In the event that NAH causes a third party to succeed to the business related to Service due to a merger, split, business transfer or other reasons, NAH may assign its contractual status, rights and obligations under Service Agreement and Owner information to the successor, and Owner shall be deemed to have consented in advance to such assignment.
Article 12 (Severability)
Even if any provision of Special Conditions or part thereof is determined to be invalid or unenforceable under the Consumer Contract Act or other laws and regulations, the remaining provisions and sentences of Special Conditions shall continue in full force and effect.
Article 13 (Governing law and agreed jurisdiction)
The interpretation and application of Special Conditions shall be governed by the laws of Japan.
Any and all disputes arising between Owner and NAH in connection with Special Conditions or Service shall be subject to the exclusive agreed jurisdiction of Tokyo District Court or Tokyo Summary Court as the court of first instance, depending on the amount in controversy.
Article 14 (Rounding)
When converting from NAC to JPY based on Special Conditions, amounts shall be rounded down to three decimal places, and when converting from JPY to NAC, amounts shall be rounded up to 15 significant figures.
Supplementary: Provisions enacted and enforced on June 1, 2025