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RULES IN SHORT
Respect Vault as if it were your home. No fights, brawls, or any other indecent activities are allowed on the premises, this will result in immediate termination of Membership.
Vault is both a place of relaxation and business, so please always be considerate of Members indulging in either pursuit. A privacy sticker will be applied on all phones during the entire stay at VAULT.
Members are welcome to bring three guests to Vault without a reservation.
Additional guests will be charged an entrance fee.
Always ensure that your guests behave appropriately – they remain your responsibility.
Members are reminded to stay with their guests throughout their visit and must not leave guests unattended in Vault, around Vault, or at Vault after you leave.
Bills cannot be signed to your account and must be settled on the day.
OBJECTS AND ADMINISTRATION
1. The name of the club is “VAULT” (“the Club”)
2. The objects of the Club are:
a) to provide drinks and other amenities for ladies and gentlemen of good standing in society and the furtherment of non-political, social and recreational activities; and
b) the maintenance of a club house in Ulaanbaatar for the use of Members of the Club.
3. The Club is a proprietary club, the proprietor of which is, subject to these Rules, Bridgewater LLC (hereinafter called “the Proprietor).
4. The Proprietor will:
a) provide the Club with Club Premises such offices as may be required for the purpose of the Club,
b) provide such furniture, fittings and equipment as may reasonably be necessary for carrying on a Club in accordance with its objects and these Rules; and
c) be responsible for the rates and insurance of such Club Premises and the depreciation and renewal of the contents thereof.
5. The General Committee of VAULT (“the General Committee”) shall exercise the powers given to it by the Rules and such other powers of management as it may undertake at the request of the Proprietor.
6. For the Avoidance of doubt, any powers given to the General Committee pursuant to these Rules may be exercised by the Proprietor. The General Committee may delegate any of its powers to any other person(s) in its absolute discretion.
7. The General Committee shall meet as often as may be necessary to ensure the proper conduct of the affairs of the Club.
8. The officers of the Club shall be appointed from time to time by the proprietor. The officers of the Club shall consist of the Chairman, Secretary and the Members of the General Committee. Nothing shall prevent a Member holding more than one office.
9. Any Officers shall be removable at any time by a majority of the General Committee subject to the consent of the Proprietor. Any Officers shall vacate his/her office if suspended from Membership or on ceasing Membership for any reason.
10. The Proprietor shall have sole responsibility for the appointment and dismissal of all the Club servants.
1. The name of the club is “VAULT” (“the Club”)
2. The objects of the Club are:
a) to provide drinks and other amenities for ladies and gentlemen of good standing in society and the furtherment of non-political, social and recreational activities; and
b) the maintenance of a club house in Ulaanbaatar for the use of Members of the Club.
3. The Club is a proprietary club, the proprietor of which is, subject to these Rules, Bridgewater LLC (hereinafter called “the Proprietor).
4. The Proprietor will:
a) provide the Club with Club Premises such offices as may be required for the purpose of the Club,
b) provide such furniture, fittings and equipment as may reasonably be necessary for carrying on a Club in accordance with its objects and these Rules; and
c) be responsible for the rates and insurance of such Club Premises and the depreciation and renewal of the contents thereof.
5. The General Committee of VAULT (“the General Committee”) shall exercise the powers given to it by the Rules and such other powers of management as it may undertake at the request of the Proprietor.
6. For the Avoidance of doubt, any powers given to the General Committee pursuant to these Rules may be exercised by the Proprietor. The General Committee may delegate any of its powers to any other person(s) in its absolute discretion.
7. The General Committee shall meet as often as may be necessary to ensure the proper conduct of the affairs of the Club.
8. The officers of the Club shall be appointed from time to time by the proprietor. The officers of the Club shall consist of the Chairman, Secretary and the Members of the General Committee. Nothing shall prevent a Member holding more than one office.
9. Any Officers shall be removable at any time by a majority of the General Committee subject to the consent of the Proprietor. Any Officers shall vacate his/her office if suspended from Membership or on ceasing Membership for any reason.
10. The Proprietor shall have sole responsibility for the appointment and dismissal of all the Club servants.
MEMBERSHIP
11. Membership of VAULT shall consist of the Members (herein called “Members” and “Membership” shall be constructed accordingly). In addition to the Members, several categories of Membership exist including:
a) Lifetime Members (hereinafter called “Lifetime Members” shall be construed accordingly);
b) Temporary Members (hereinafter called “Annual Members” and “Corporate Membership” shall be construed accordingly);
c) such other categories of Member and Membership as may exist from time to time. For the avoidance of doubt, unless otherwise stated in these Rules, references in these Rules “Members” and “Membership” shall include each of the above categories of Member and their respective Memberships.
12. Lifetime Membership will give access to closed areas of the Club. Lifetime Membership shall entitle the Member to Membership of VAULT for such period as the General Committee shall decide and as may be set out in any relevant additional rules.
13. Any infringement of the Rules and/or additional Rules may result in immediate termination of Membership.
14. The election of Members shall be at the absolute discretion of the General Committee.
15. Subject to Rules 16 and 17 below and any applicable Membership-specific Rules. Memberships are not transferable.
16. Lifetime Members may not transfer their Lifetime Membership except with the express approval of the General Committee.
17. On the death or bankruptcy of a Lifetime Member, his/her Lifetime Membership will not pass to those entitled to the estate or property of such Lifetime Membership except with the express approval and on such terms as the General Committee shall think fit.
18. No candidate for Membership under 21 years of age shall be eligible for Membership.
19. The General Committee has the right to issue Temporary Membership for such period and on such terms as it decides at its absolute discretion. At the discretion of the General Committee, Temporary Members shall be eligible for election to full Membership provided that the number of Temporary Members so admitted shall not be a significant number in proportion to the total Membership.
20. Every candidate for admission as a Member (excluding temporary Members) shall be proposed by a Member who shall vouch, from their personal knowledge, for the fitness of the candidate. The candidate shall be proposed by the completion of a proposal form, which shall be signed by the proposer as well as the candidate. Candidates for Membership must be over 21 years of age at the time they are proposed for Membership.
21. Any omission from or inaccuracy on the particulars relating to or the description of any candidate for Membership may render his/her election void or subject to termination at the discretion of the General Committee.
22. Any Member (excluding Temporary Members) who is of the opinion that any candidate who is proposed for election as a Member would not be a desirable Member shall inform the Secretary who shall communicate the objection to the General Committee or subcommittee thereof, but to no other person.
23. Immediately upon the election of a Member, the Secretary shall give notice to him/her and send him/her a copy of these Rules and any applicable Membership-specific Rules and he/she shall, subject to due payment of any initial joining fee and any first subscription fees, then become a Member of Vault and be entitled to all the benefits and privileges of Membership be bound by these Rules and any applicable additional Rules.
24. The joining fee and subscription for Members shall be such sums as the General Committee shall from time to time determine. Save in respect of the first subscription fee (in respect of which see Rule 23), future subscriptions for Members (but not Lifetime) shall be paid: (a) within seven days of notice of renewal in each ensuing year; or (b) if alternative payment date(s) are agreed by the General Committee, within 3 days of such agreed date(s). Any subscription for Lifetime Members shall be paid in accordance with the relevant Membership terms. The Membership of any Member not complying with this Rule shall automatically terminate unless the General Committee shall in their absolute discretion decide otherwise.
25. All joining fees and/or subscriptions are inclusive of VAT and shall be paid to the Club’s bank account details in Mongolian Tugrik as directed by the Secretary of VAULT.
26. Any joining fee and/or any subscription paid in respect of any Membership is non-refundable. Rules or their enforceability or the legal relationships established by these Rules 9 including non-contractual disputes or claims).11. Membership of VAULT shall consist of the Members (herein called “Members” and “Membership” shall be constructed accordingly). In addition to the Members, several categories of Membership exist including:
a) Lifetime Members (hereinafter called “Lifetime Members” shall be construed accordingly);
b) Temporary Members (hereinafter called “Annual Members” and “Corporate Membership” shall be construed accordingly);
c) such other categories of Member and Membership as may exist from time to time. For the avoidance of doubt, unless otherwise stated in these Rules, references in these Rules “Members” and “Membership” shall include each of the above categories of Member and their respective Memberships.
12. Lifetime Membership will give access to closed areas of the Club. Lifetime Membership shall entitle the Member to Membership of VAULT for such period as the General Committee shall decide and as may be set out in any relevant additional rules.
13. Any infringement of the Rules and/or additional Rules may result in immediate termination of Membership.
14. The election of Members shall be at the absolute discretion of the General Committee.
15. Subject to Rules 16 and 17 below and any applicable Membership-specific Rules. Memberships are not transferable.
16. Lifetime Members may not transfer their Lifetime Membership except with the express approval of the General Committee.
17. On the death or bankruptcy of a Lifetime Member, his/her Lifetime Membership will not pass to those entitled to the estate or property of such Lifetime Membership except with the express approval and on such terms as the General Committee shall think fit.
18. No candidate for Membership under 21 years of age shall be eligible for Membership.
19. The General Committee has the right to issue Temporary Membership for such period and on such terms as it decides at its absolute discretion. At the discretion of the General Committee, Temporary Members shall be eligible for election to full Membership provided that the number of Temporary Members so admitted shall not be a significant number in proportion to the total Membership.
20. Every candidate for admission as a Member (excluding temporary Members) shall be proposed by a Member who shall vouch, from their personal knowledge, for the fitness of the candidate. The candidate shall be proposed by the completion of a proposal form, which shall be signed by the proposer as well as the candidate. Candidates for Membership must be over 21 years of age at the time they are proposed for Membership.
21. Any omission from or inaccuracy on the particulars relating to or the description of any candidate for Membership may render his/her election void or subject to termination at the discretion of the General Committee.
22. Any Member (excluding Temporary Members) who is of the opinion that any candidate who is proposed for election as a Member would not be a desirable Member shall inform the Secretary who shall communicate the objection to the General Committee or subcommittee thereof, but to no other person.
23. Immediately upon the election of a Member, the Secretary shall give notice to him/her and send him/her a copy of these Rules and any applicable Membership-specific Rules and he/she shall, subject to due payment of any initial joining fee and any first subscription fees, then become a Member of Vault and be entitled to all the benefits and privileges of Membership be bound by these Rules and any applicable additional Rules.
24. The joining fee and subscription for Members shall be such sums as the General Committee shall from time to time determine. Save in respect of the first subscription fee (in respect of which see Rule 23), future subscriptions for Members (but not Lifetime) shall be paid: (a) within seven days of notice of renewal in each ensuing year; or (b) if alternative payment date(s) are agreed by the General Committee, within 3 days of such agreed date(s). Any subscription for Lifetime Members shall be paid in accordance with the relevant Membership terms. The Membership of any Member not complying with this Rule shall automatically terminate unless the General Committee shall in their absolute discretion decide otherwise.
25. All joining fees and/or subscriptions are inclusive of VAT and shall be paid to the Club’s bank account details in Mongolian Tugrik as directed by the Secretary of VAULT.
26. Any joining fee and/or any subscription paid in respect of any Membership is non-refundable. Rules or their enforceability or the legal relationships established by these Rules 9 including non-contractual disputes or claims).11. Membership of VAULT shall consist of the Members (herein called “Members” and “Membership” shall be constructed accordingly). In addition to the Members, several categories of Membership exist including:
TERMINATION OF MEMBERSHIP
27. Any Member may terminate his/her Membership by giving to the Secretary a resignation notice in writing to that effect. Every such notice shall unless otherwise expressed be deemed to take effect as from the Monday next, following the receipt thereof, whereupon he/she shall cease to be a Member.
28. The Proprietor shall have the right to immediately terminate any Membership or to refuse to renew any Membership without having to give a reason for such action.
29. The General Committee shall have the right (but not obligation) to immediately terminate any Membership without having to give a reason for such action. The committee may also decide to immediately terminate Membership for any of the following circumstances:
a) in accordance with Rules 13, 24, 28;
b) following breach of any of these Rules including and in particular Rules 12, 33 or 41;
c) if any Member interferes with the appointment of the Club servants or shall incite any servant to leave the employment of the Club;
d) if the General Committee in its discretion decides a Member should not be permitted to continue as a Member, either of its own volition, or following a Member informing the Secretary that they are of the opinion that the best interests of the Club require that a Member should not the be permitted to continue as Member of the Club;
e) inappropriate conduct by guests of the relevant Member; or
f) following breach of any additional rule that applies to any category of Membership from time to time.
30. Upon termination of any Membership:
a) no initial joining fee or subscriptions (or any proportion thereof) shall be returned or refunded;
b) any outstanding subscriptions for the current Membership year shall become immediately payable;
c) any outstanding Club charges incurred by such person shall become immediately payable; and
d) with the exception of Membership that has expired through lapse of time (which exception is subject to the absolute discretion of the General Committee), no such person shall ever again be proposed as a candidate for Membership or visit the Club Premises unless it is expressly authorized in writing by the General Committee or a duly authorized Officer on their behalf.
31. Any Member shall upon ceasing to be a Member of the Club forfeit all rights in the Club.
28. The Proprietor shall have the right to immediately terminate any Membership or to refuse to renew any Membership without having to give a reason for such action.
29. The General Committee shall have the right (but not obligation) to immediately terminate any Membership without having to give a reason for such action. The committee may also decide to immediately terminate Membership for any of the following circumstances:
a) in accordance with Rules 13, 24, 28;
b) following breach of any of these Rules including and in particular Rules 12, 33 or 41;
c) if any Member interferes with the appointment of the Club servants or shall incite any servant to leave the employment of the Club;
d) if the General Committee in its discretion decides a Member should not be permitted to continue as a Member, either of its own volition, or following a Member informing the Secretary that they are of the opinion that the best interests of the Club require that a Member should not the be permitted to continue as Member of the Club;
e) inappropriate conduct by guests of the relevant Member; or
f) following breach of any additional rule that applies to any category of Membership from time to time.
30. Upon termination of any Membership:
a) no initial joining fee or subscriptions (or any proportion thereof) shall be returned or refunded;
b) any outstanding subscriptions for the current Membership year shall become immediately payable;
c) any outstanding Club charges incurred by such person shall become immediately payable; and
d) with the exception of Membership that has expired through lapse of time (which exception is subject to the absolute discretion of the General Committee), no such person shall ever again be proposed as a candidate for Membership or visit the Club Premises unless it is expressly authorized in writing by the General Committee or a duly authorized Officer on their behalf.
31. Any Member shall upon ceasing to be a Member of the Club forfeit all rights in the Club.
CLUB PREMISES, ADMISSION, CONDUCT AND BEHAVIOR
3The supply of alcohol will be permitted in the Club Premises during the general licensing hours for the district subject to any extension for the time being granted by the licensing authorities.
33. Every Member shall before leaving the Club Premises pay charges incurred by him/her except by a special arrangement with the Secretary in which case accounts within 30 days. Any Member who fails to settle such accounts within 30 days shall at the discretion of the General Committee either have their Membership terminated in accordance with Rule 29 or have their Membership suspended for a period not exceeding 6 months.
34. The days during which the Club Premises shall be open for the reception of Members are at such times as the General Committee in its discretion may decide. The General Committee reserves the right to close the Club Premises at any time, for any reason. The General Committee may however by arrangement allow Members to hold functions at the Club Premises and on such occasions the hours during which the Club shall be open to Members may be varied.
35. The Club, the Proprietor and General Committee cannot in any circumstances be responsible to Members or guests for:
a) loss or damage to any property of any kind whilst it is in or about the Club Premises; or
b) loss or damage to motor cars or other vehicles parked, collected or driven by servants or agents of the Club, or to the contents or accessories of any such motor cars or vehicles.
36. Subject to the provisions of these Rules, Members shall be permitted to introduce friends as guests and entertain them, the Member being responsible for the proper conduct and behavior of each guest whilst upon the Premises and their strict observance of the Rules. Members are able to bring three guests to the Club at any one time.
37. The General Committee shall have power by their duly authorized Officer to refuse the admission of any guest if in their opinion it is desirable in the interests of the Club.
38. Guests must leave the Club Premises at the same time or before their host.
39. Except with the consent of the General Committee no Member shall give the address of the Club Premises to anyone or use the Club Premises address in any social media, or for any business purposes whatsoever.
40. Every Member of the Club shall give an email address to the Secretary for the receipt of all notices and in the event of change shall notify the Secretary, and all notices posted to such last given email address shall be considered as having been duly given, at the time of sending.
41. The use of cameras or any other recording device in the Club for any reason is not allowed. Members shall be entitled to use mobile telephones at the Club provided that such use is discrete, respectful of others using the Club and in line with any guidelines or restrictions imposed by the Club servants from time to time.
33. Every Member shall before leaving the Club Premises pay charges incurred by him/her except by a special arrangement with the Secretary in which case accounts within 30 days. Any Member who fails to settle such accounts within 30 days shall at the discretion of the General Committee either have their Membership terminated in accordance with Rule 29 or have their Membership suspended for a period not exceeding 6 months.
34. The days during which the Club Premises shall be open for the reception of Members are at such times as the General Committee in its discretion may decide. The General Committee reserves the right to close the Club Premises at any time, for any reason. The General Committee may however by arrangement allow Members to hold functions at the Club Premises and on such occasions the hours during which the Club shall be open to Members may be varied.
35. The Club, the Proprietor and General Committee cannot in any circumstances be responsible to Members or guests for:
a) loss or damage to any property of any kind whilst it is in or about the Club Premises; or
b) loss or damage to motor cars or other vehicles parked, collected or driven by servants or agents of the Club, or to the contents or accessories of any such motor cars or vehicles.
36. Subject to the provisions of these Rules, Members shall be permitted to introduce friends as guests and entertain them, the Member being responsible for the proper conduct and behavior of each guest whilst upon the Premises and their strict observance of the Rules. Members are able to bring three guests to the Club at any one time.
37. The General Committee shall have power by their duly authorized Officer to refuse the admission of any guest if in their opinion it is desirable in the interests of the Club.
38. Guests must leave the Club Premises at the same time or before their host.
39. Except with the consent of the General Committee no Member shall give the address of the Club Premises to anyone or use the Club Premises address in any social media, or for any business purposes whatsoever.
40. Every Member of the Club shall give an email address to the Secretary for the receipt of all notices and in the event of change shall notify the Secretary, and all notices posted to such last given email address shall be considered as having been duly given, at the time of sending.
41. The use of cameras or any other recording device in the Club for any reason is not allowed. Members shall be entitled to use mobile telephones at the Club provided that such use is discrete, respectful of others using the Club and in line with any guidelines or restrictions imposed by the Club servants from time to time.
AMENDMENT AND INTERPRETATION OF THE RULES
42. These Rules and any additional Rules may be changed, varied or revoked by the Proprietor and any change, variation or revocation of the Rules and/or additional Rules shall be deemed to have been brought to the notice of the Members and take immediate effect by emailing details of such change, posting details of such change on the Club notice board and/or including details on the Club website.
43. The headings used in these Rules shall not affect the interpretation of the Rules.
44. Refences in these Rules to the Rules shall be deemed to include, where relevant, reference to the Rules and any additional Rules together.
45. Any personal information that you provide to the General Committee and/or Proprietor will be processed in accordance with the Club’s Privacy Policy which is available to view on the Club’s website.
46. The General Committee shall be the sole authority for the interpretation of these Rules made thereunder and their decision shall be final and binding on the Members.
47. Subject to Rule 46, the validity, construction and performance of the Rules (and any claim, dispute or matter arising under or in connection with them or their enforceability) and any non-contractual obligations arising out of or in connection with them, shall be governed by and construed in accordance with the law of Mongolia. All parties (including Members) irrevocably submit to the exclusive jurisdiction of the courts of Mongolia over any claim, dispute or matter arising under or in connection with these Rules or their enforceability or the legal relationships established by these Rules 9 including non-contractual disputes or claims).These Rules and any additional Rules may be changed, varied or revoked by the Proprietor and any change, variation or revocation of the Rules and/or additional Rules shall be deemed to have been brought to the notice of the Members and take immediate effect by emailing details of such change, posting details of such change on the Club notice board and/or including details on the Club website. The headings used in these Rules shall not affect the interpretation of the Rules.References in these Rules to the Rules shall be deemed to include, where relevant, reference to the Rules and any additional Rules together.Any personal information that you provide to the General Committee and/or Proprietor will be processed in accordance with the Club’s Privacy Policy which is available to view on the Club’s website.The General Committee shall be the sole authority for the interpretation of these Rules made thereunder and their decision shall be final and binding on the Members. Subject to Rule 46, the validity, construction and performance of the Rules (and any claim, dispute or matter arising under or in connection with them or their enforceability) and any non-contractual obligations arising out of or in connection with them, shall be governed by and construed in accordance with the law of Mongolia. All parties (including Members) irrevocably submit to the exclusive jurisdiction of the courts of Mongolia over any claim, dispute or matter arising under or in connection with these Rules or their enforceability or the legal relationships established by these Rules 9 including non-contractual disputes or claims).
43. The headings used in these Rules shall not affect the interpretation of the Rules.
44. Refences in these Rules to the Rules shall be deemed to include, where relevant, reference to the Rules and any additional Rules together.
45. Any personal information that you provide to the General Committee and/or Proprietor will be processed in accordance with the Club’s Privacy Policy which is available to view on the Club’s website.
46. The General Committee shall be the sole authority for the interpretation of these Rules made thereunder and their decision shall be final and binding on the Members.
47. Subject to Rule 46, the validity, construction and performance of the Rules (and any claim, dispute or matter arising under or in connection with them or their enforceability) and any non-contractual obligations arising out of or in connection with them, shall be governed by and construed in accordance with the law of Mongolia. All parties (including Members) irrevocably submit to the exclusive jurisdiction of the courts of Mongolia over any claim, dispute or matter arising under or in connection with these Rules or their enforceability or the legal relationships established by these Rules 9 including non-contractual disputes or claims).These Rules and any additional Rules may be changed, varied or revoked by the Proprietor and any change, variation or revocation of the Rules and/or additional Rules shall be deemed to have been brought to the notice of the Members and take immediate effect by emailing details of such change, posting details of such change on the Club notice board and/or including details on the Club website. The headings used in these Rules shall not affect the interpretation of the Rules.References in these Rules to the Rules shall be deemed to include, where relevant, reference to the Rules and any additional Rules together.Any personal information that you provide to the General Committee and/or Proprietor will be processed in accordance with the Club’s Privacy Policy which is available to view on the Club’s website.The General Committee shall be the sole authority for the interpretation of these Rules made thereunder and their decision shall be final and binding on the Members. Subject to Rule 46, the validity, construction and performance of the Rules (and any claim, dispute or matter arising under or in connection with them or their enforceability) and any non-contractual obligations arising out of or in connection with them, shall be governed by and construed in accordance with the law of Mongolia. All parties (including Members) irrevocably submit to the exclusive jurisdiction of the courts of Mongolia over any claim, dispute or matter arising under or in connection with these Rules or their enforceability or the legal relationships established by these Rules 9 including non-contractual disputes or claims).
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