We added details about membership tier downgrades to clause 4.
Membership Type. We may offer different tiers and variations of membership from time to time (“Membership Types”). Different Membership Types may have different Membership Fees (defined below) and/or terms and offerings, such as time of access to the Space and dedicated workspace. You agree that your Membership is subject to the specific terms of your Membership Type. Your Membership Type is selected by you and its terms and features are communicated to you at the checkout page of our membership management software (currently we use Optix) (“Membership Platform”). You may request to change your Membership Type by emailing [email protected]. If the requested change is to a Membership Type with a lower Membership Fee than your current Membership Type, this request must be made with at least one (1) month notice prior to the next Renewal (defined below). If you provide less than one (1) month notice, your change in Membership Type will take effect at the subsequent Renewal (for example, if your Membership renews on the 8th of the month and you give us notice of the requested change on June 30, then if approved your change in Membership Type will take effect beginning August 7. If on the other hand you gave us notice on June 8, then your Membership Type would change as of July 7). Changes to Membership Type to a Membership Type with a higher Membership Fee will take effect as soon as processed by Index (if effective prior to a Renewal, you will be billed, and your current payment method will be charged, for the increase in Membership Fees for the current month on a pro-rated basis starting from the day the change takes effect). Changes to Membership Type are subject to availability and are in any case at the sole discretion of Index. At our sole discretion, we may make changes to the terms and features of your Membership Type or discontinue or replace it altogether. In these cases, we will communicate these changes to you, and your continued use of your Membership will be deemed as acceptance of any such changes.
The first version of the Membership Terms & Conditions was finalized by Studio Legal.