Installment Payment Terms

The following terms apply if you have placed an order for products or services, which are paid over monthly or annual increments: 

Acknowledgment. By placing an order for products or services, which are paid over monthly or annual increments, you acknowledge that you have read, understood, and agreed to be bound by this section, including the non-cancellable and non-refundable nature of the order and the recurring payment obligations. You further acknowledge that these terms are necessary to align with obligations that Cisco imposes on us.

Purchase Commitment. Upon placing an order for goods and/or services with Stratus, you understand and agree that you have entered into a binding purchase agreement to purchase the goods and services, in full, as specified in the order. Your payment-over-time purchase is an installment contract. You acknowledge and agree that, while the full purchase price for the goods and services is due upon order placement, Stratus permits payment to be made in installments over a specified period (“Payment Term”), as outlined in the order. The Payment Term, including the schedule and number of recurring payments, shall be detailed in the order confirmation provided to you. 

Recurrent Payment Obligations. You authorize Stratus to charge the agreed-upon recurring payments automatically or invoice you on a monthly or annual basis for the payment of your order. Failure to maintain a valid payment method, have sufficient funds, or pay on your installment agreement does not relieve you of your payment obligations. 

Non-Cancellability and No Refunds Given. You acknowledge that, due to Stratus’s obligations as a Cisco partner, all orders are non-cancellable and non-refundable once placed, subject to Cisco’s policies. Upon order placement, you agree that you are irrevocably committed to purchasing the goods and/or services, in full, and fulfilling all recurring payment obligations for the entire Payment Term. This commitment reflects Stratus’s corresponding obligations to Cisco, which require Stratus to fulfill orders without cancellation.

No Early Termination. You may not terminate the order or discontinue recurring payment obligations prior to the completion of the Payment Term, except as expressly required by applicable law or these Terms. Any attempt to cancel or terminate the order does not relieve you of your obligation to make all scheduled payments in full.

Automatic Renewal. Each Order will automatically renew after the initial term (and any renewal term) for the renewal period indicated on the Order (“Renewal Term”) unless: (a) you elect not to automatically renew at the time of the initial order; (b) you turn off auto-renew at any time, or (c) you notify Stratus in writing at least 30 days before the end of your initial (or renewal term) of your intention not to renew. You may submit notices to Stratus via any of the methods listed in these Terms or on our Website. Opting out of auto-renewal does not affect your obligation to make any remaining installment payments for the purchase of goods or services under the installment contract, which remain non-cancellable and binding as set forth in these Terms. In the event of any fee changes, Stratus will notify you reasonably in advance of the upcoming renewal term. New fees may apply for the upcoming renewal term unless You notify Stratus in writing at least 30 days before the renewal date of your intention not to renew. If required by applicable law, 30 days prior to your auto-renewal, Stratus will provide you with a clear and conspicuous notice regarding the auto-renewal of your Order. If you opt out of auto-renewal, any Cisco-provided recurring services may terminate at the end of the current term, which could affect the functionality or support for your product(s). You acknowledge that such termination is consistent with Cisco’s policies and does not relieve you of your payment obligations for the goods or products under the installment contract.

Security Interest. By placing an order for products or services, which are paid over monthly or annual increments, you grant to Stratus a security interest in all goods and products delivered to you under the order, including any Cisco hardware, equipment, or other tangible products (collectively, the “Collateral”), together with all proceeds, replacements, or substitutions thereof. The security interest extends to the Collateral until you have paid the total purchase price, including all installment payments, taxes, fees, and any other amounts owed under the order, in full. You acknowledge and agree that the Collateral remains the property of Stratus, and title to the Collateral shall not pass to Customer until all payments and obligations are fully satisfied, unless otherwise required by applicable law. Customer authorizes Stratus to file a UCC-1 financing statement with the appropriate filing office to perfect Stratus’s security interest in the Collateral. You agree to provide any additional information or documentation reasonably requested by Stratus to facilitate the filing or perfection of the security interest, including but not limited to Customer’s legal name, address, and other required information. 

Additional Obligations. You agree that you will not, without Stratus’s prior written consent, sell, transfer, lease, pledge, assign, encumber, or otherwise dispose of the Collateral, or permit the Collateral to be subject to any lien, security interest, or other encumbrance (collectively, “Prohibited Actions”) before the total purchase price is paid in full. Any attempt to engage in a Prohibited Action shall be void and shall constitute an Event of Default (as defined below) under your installment contract. Additionally, until the full order is paid off, you shall not take any action that impairs Stratus’s ownership, security interest, or other rights in the Collateral, including but not limited to modifying, altering, or tampering with the Collateral in a manner that diminishes their value or violates Cisco’s intellectual property rights or policies. Customer shall maintain the Collateral in good condition, reasonable wear and tear excepted and use the Collateral solely in accordance with the manufacturer’s specifications, Cisco’s policies, and applicable laws. You shall bear all risk of loss, damage, or destruction to the Collateral from the time of delivery and, at our request, shall maintain adequate insurance on the Collateral, naming Stratus as an additional insured or loss payee, in an amount sufficient to cover the outstanding balance of the installment contract.

Default and Remedies. If you fail to make any recurring or scheduled payment when due (“Event of Default”), Stratus may, in addition to any remedies available under applicable law or in equity, exercise one or more of the following remedies: (a) suspend or terminate your access to or use of the goods and/or services, including any software licenses or support services provided by Cisco; (b) declare all remaining payments for the Payment Term immediately due and payable; (c) repossess the Collateral; (d) charge interest on overdue amounts at the amounts as listed in these Terms; and/or (e) pursue collection actions, where you will be liable for all reasonable costs of collection, including attorneys’ fees.