Q: How many SEATs have been created and how many SEATs are available to be purchased?
A: UCX has created 500 SEATs and on July 1st, 2016 released only 100 SEATs available to be purchased.
Q: How much does a SEAT cost?
Q: What does a SEAT consist of?
A: A SEAT consists of both Equity (LLC UNITs) and “Trading Rights” of a Corporate Membership.
Q: What are Equity LLC Units?
A: Each SEAT will include 3.5148 LLC UNITs in UCX LLC, which currently equals 0.025% of UCX LLC’s current authorized LLC UNITs. Each LLC UNIT is identical to the existing LLC UNITs with all the rights and privileges of the current LLC UNIT investors.
Q: What are Trading Rights?
A; Trading Rights consist of the value of reduced Transaction Fees and/or waived/reduced Membership and Annual Fees. (Current Value NOT including LLC UNITs and Reduced Transaction Fees is $15,000)
- Reduced Transaction Fees: 50% reduction of fees for 5 years; 20% after
- Waived Membership Fee*: Current $5,000 Membership Fee Waived
- Waived Annual Fees*: Current $2,500 Annual Fee Waived for Five years
*Membership Fees / Annual Fees are subject to increase based upon demand, which may cause the resell value of the Trading Rights to increase.
Q: What does “activating my Trading Rights mean?
A: In order to exercise the benefits of SEAT Owners Trading Rights must be “activated”. A SEAT Owner has 5 years from the date of purchase to “activate” the benefits of their Trading Rights. The day the Trading Rights are activated the owner of the Trading Rights will receive the benefits of reduced Transaction fees and waived Membership and Annual fees. There is a onetime payment of $5,000 to activate the Trading Rights.
Q: Who is allowed to buy a SEAT of UCX?
A: Any adult, company or organization who is a certified accredited investor of good moral character, reputation and business integrity, with the adequate financial resources and credit to assume the responsibilities and privileges of being a UCX SEAT Owner.
Q: Can I sell my SEAT?
A: A SEAT Owner can sell, offer for sale and/or transfer their Trading Rights based upon the guidelines set forth in the UCX SEAT Rulebook. A SEAT Owner gets the privilege of maintaining their Equity LLC Units in UCX. Offers to sell Trading Rights will be maintained by UCX in an open transparent marketplace.
Q: Can I sell my Trading Rights when UCX is currently selling a SEAT release?
A: SEAT holders will be provided a 30 days notice of a new release of SEATs by UCX LLC, during which Trading Rights can be transferred, offered for sale or sold, but at the end of that 30-day period the sale of Trading Rights will be suspended during a UCX SEAT Release.
Q: Can UCX suspend/stop or close the sale of a SEAT release?
A: UCX has the right and full discretion to determine how many SEATs will be released for sale. UCX has the right at anytime during a release of SEATs for sale to suspend, stop, or close the sale of the SEATs in that release without notice.
Q: What is a Non Seat Unit member investor?
A: A Non SEAT UNIT member investor is an investor or investors who have purchased a SEAT UNIT as a group investment. Non-Seat Unit Members are expected to abide by all the rules and regulations of UCX.
Q: What is the UCX SEAT rulebook?
A: The SEAT UNIT Rulebook outlines the rights, rules, privileges and procedures that all SEAT applicants and owners must abide by. These rules can be changed and altered with a majority vote by the board of manager.
Q: Who is a Party in the SEAT transaction?
A: A party to a SEAT transaction is either UCX, an applicant, a buyer or, when authorized by the UCX Board, a seller. All persons related to the transactions shall be referred to as ‘parties’.
Q: How do I apply for membership to buy a SEAT?