EV SUBSCRIPTION PRE-CLOSURE TERMS
The terms and conditions applicable to the termination of an Ecozaar EV Subscription Plan wherein the Subscribed EV is being returned prior to the expiry of the Lock-In Period, voluntarily by the Subscriber (“Subscriber Termination”) shall be governed by these EV Subscription Pre-Closure Terms (“Pre-Closure Terms”). Capitalized terms used but not defined shall have the meaning assigned to them under the EV Subscription Terms or the User Terms. These Pre-Closure Terms shall be read with the EV Subscription Terms, whose terms are incorporated herein by reference.
Definitions
The following capitalized terms used in these Pre-Closure Terms shall have the following meaning:
“EVSP Remaining Payable” shall mean the amount payable by the relevant Subscriber to Ecozaar after solving the following formula:
(Amount payable as per the EV Subscription Plan for each month of the Lock-In Period * the number of months in the relevant Lock-In Period) - Amount already paid by the relevant Subscriber to Ecozaar (including the interest free security deposit)
Termination of an EV Subscription Plan during the Lock-In Period
Termination of the EV Subscription Plan by the relevant Subscriber is subject to such Subscriber paying the EVSP Remaining Payable to Ecozaar.
(a) Mr. A Case Study: Mr. A has opted for an EV Subscription Plan wherein the Lock-In Period is 30 (thirty) months from January 1, 2025. Per the EV Subscription Plan opted by Mr. A (i) he is required to pay a monthly fee of INR 5,000 (Indian Rupees Five Thousand Only) for every month of the Lock-In Period (identified in the EV Subscription Plan opted by Mr. A) (“Mr. A Monthly Subscription Amount”), and (ii) has made a payment of INR 20,000 (Indian Rupees Twenty Thousand Only) to Ecozaar towards the interest free refundable security deposit (for the EV Subscription Plan opted by Mr. A).
On January 1, 2027, Mr. A decides to shift cities and no longer requires the Subscribed EV and chooses to return the Subscribed EV to Ecozaar prior to expiration of the Lock-In period (of 30 (thirty) months). Mr. A will need to pay Ecozaar the ESVP Remaining Payable in order to return the Subscribed EV.
| Monthly Subscription Amount | Lock-In Period | Security Deposit | Amount Already Paid |
|---|---|---|---|
| INR 5,000 | 30 months | INR 20,000 | INR 5,000 * 24 = INR 1,20,000 |
Therefore, the ESVP Remaining Payable for Mr. A shall be calculated as follows:
(INR 5,000 * 30) – (INR 1,20,000 + INR 20,000) = INR 10,000
Mr. A will need to pay Ecozaar an amount of INR 10,000 as the EVSP Remaining Payable.
(b) Ms. B Case Study: Ms. B has opted for an EV Subscription Plan wherein the Lock-In Period is 12 (twelve) months from January 1, 2025. Per the EV Subscription Plan opted by Ms. B (i) she is required pay a monthly fee of INR 10,000 (Indian Rupees Ten Thousand Only) for every month of the Lock-In Period (identified in the EV Subscription Plan opted by Ms. B) (“Ms. B Monthly Subscription Amount”), and (ii) has made a payment of INR 20,000 (Indian Rupees Twenty Thousand Only) to Ecozaar towards the interest free refundable security deposit (for the EV Subscription Plan opted by Ms. B).
On July 1, 2025, Ms. B decides to return the Subscribed EV. Ms. B will need to pay Ecozaar the ESVP Remaining Payable in order to return the Subscribed EV.
| Monthly Subscription Amount | Lock-In Period | Security Deposit | Amount Already Paid |
|---|---|---|---|
| INR 10,000 | 12 months | INR 20,000 | INR 10,000 * 6 = INR 60,000 |
Therefore, the ESVP Remaining Payable for Ms. B shall be calculated as follows:
(INR 10,000 * 12) – (INR 60,000 + INR 20,000) = INR 40,000
Ms. B will need to pay Ecozaar an amount of INR 40,000 as the EVSP Remaining Payable.
