T&Cs

What do these terms and conditions apply to?

These reservation service terms and conditions set out the basis on which Fizzy Services Management LLP (“Fizzy Services Management”, “we” or “us”) will deal with your enquiries, process your reservation application and provide our reservation service to you. Fizzy Services Management LLP is a subsidiary of Fizzy Enterprises LLP. These terms and conditions apply to enquiries and reservations made via this Site, telephone, email or otherwise, even if you do not eventually sign up to an agreement with one of our affiliates as your landlord and you as tenant (a "Tenancy Agreement"). If you do sign up to a Tenancy Agreement, your relationship with your landlord will be governed by such Tenancy Agreement.

Please read these terms carefully as they affect your rights and liabilities under the law. You accept and agree to be bound by these terms by using this Site. If you do not agree to these reservation service terms and conditions, please do not sign-up to or use the Site.

Our reservation service is only available to individuals who are aged 18 or over.

These reservation service terms and conditions and any Tenancy Agreement are available in the English language only.

If you have any questions on the reservation service terms and conditions please contact hello@fizzyliving.com.

How do I make a reservation? And how does Fizzy Services Management use User Data?

The following sets out the reservation process and describes the reservation service that we will provide to you.

STAGE ONE - RESERVATION

Making an Enquiry

The first stage of making a reservation requires you to submit an enquiry via our website(s), a property portal, email, telephone, live chat or social media. Once you have made an initial enquiry, we will contact you to discuss your requirements. Following this, we may arrange a viewing or discuss the next steps of making a reservation for a Fizzy flat.

At this stage, we ask the following information: full name, contact details (email and contact telephone number) and employment status in addition to your requirements which include preferred move in date, how many bedrooms, budget, etc.

We will then book in a viewing with you and a member of the Fizzy team. At the viewing, we will carry out "Right to Rent" checks where we will ask all prospective tenants to show original documents to confirm their right to rent; these are detailed in the Home Office guide here. We will make a copy of each prospective tenant's documents and record the date they are checked. If you proceed with reserving a flat, the copies of the right to rent documents will be saved during your tenancy for 12 months. If you choose not to proceed with reserving a flat, the copies of the right to rent documents will be deleted immediately.

During Stage One of the process, we can make no guarantee that any suggested property will be and/or remain available for you or that any subsequent tenancy application will be successful.

Making a Reservation

You are able to reserve a Fizzy flat directly on our Site or by contacting the Lettings Team. The Lettings Team will confirm details of the flat reservation via email or telephone and send you a booking link. The booking link email will come from flatfair, our referencing partner. In order to complete the reservation process and to register your interest in the suggested property, you will be required to log-in and start your application.

Once you have been sent the booking link email, the chosen Fizzy flat will be held under your name for 24 hours. After 24 hours, the flat will be released back on to the market so please ensure you make the holding deposit payment within these 24 hours.

If you decide to go ahead and make a reservation in respect of the chosen property, you will need to log-in, fill out your details and make the reservation deposit to confirm your interest and submit your reservation request. You will be asked to input your details and any details of additional tenants. You will then be asked to confirm your acceptance of our relevant terms and conditions, including the Tenancy Agreement that you will sign up to should your reservation request and any subsequent tenancy application be successful and you wish to proceed and rent the property. Your landlord under the Tenancy Agreement will be one of our affiliates, either Fizzy Epsom LLP, Fizzy Canning Town LLP, Fizzy Poplar LLP, Fizzy Stepney Green LLP, Fizzy Lewisham LLP, Fizzy Lewisham B1 LLP, Fizzy Walthamstow LLP, Fizzy Hayes LLP or Fizzy East16 LLP whose details will be set out in your Tenancy Agreement.

Holding Deposit

In order for us to process your reservation and secure your chosen Fizzy flat, we will ask you to pay the holding deposit which will be credited against your move in monies before moving into your flat.

The holding deposit is non-refundable if a tenant provides false or misleading information, they fail a Right to Rent check, withdraw from the proposed agreement (decide not to let) or fail to take all reasonable steps to enter an agreement (i.e. responding to reasonable requests for information required to progress the agreement) when the landlord has done so.

Once you have submitted your reservation request via the tenant portal and we receive payment of your holding deposit, we will then set aside your chosen property for 15 days while we process your reservation application.

Table showing holding deposit charges

Flat Type

Charge (incl. VAT)

Studio

£200

1 bed

£200

2 bed

£400

3 bed

£400

How to make payments

Tenant charges are made by debit cards only. Cash or cheques are not accepted. Fizzy takes payments securely online by bank transfer or standing orders. Fizzy operates on a continuous payment authority basis.

Flatfair Credit and Reference Checks

Once your reservation request has been made and the holding deposit has been paid and your details have been provided to flatfair - referencing will begin. Flatfair will perform various checks that are required to approve your eligibility to enter into the Tenancy Agreement ("Credit and Reference Checks"). For further information flatfair and their privacy policy can be accessed via the sign-up platform or viewed here.

It is your responsibility to promptly provide any information required by flatfair in order to carry out the Credit and Reference Checks. Please note that where the Credit and Reference Checks have not been successfully completed within the 15 working day period referred to above, the property we have set aside for you may no longer be available.

Flatfair will check for the following criteria for each applicant:

  • Credit score
  • Credit check; a check reporting on any adverse credit history eg. CCJs or IVAs
  • Right to Rent documentation
  • Affordability of the property; the joint gross household income must meet the criteria of 2.66 times the annual rent. Fizzy will ask for advance rental payments if a household does not pass the affordability criteria.
  • Income reference; written evidence from your employer to verify you are employed with the company, earnings, type of employment (fixed or temporary) and start date of employment. If you are in probationary period with your employer, Fizzy will ask for advance rental payments. If are you self-employed, you must provide 12 months accountant records. If you are self-employed and cannot provide a 12 month history via your accountant, we will ask for a minimum of 12 months' rent in advance.
  • Landlord reference; reference from a previous landlord confirming details about your tenancy such as rent paid and length of tenancy
  • Proof of address; you will be asked to provide the proof of your address. This evidence can be provided by submitting documents such as a council tax bill, utility bill, bank statement or drivers license.

Entry into the Tenancy Agreement is subject to successful completion of these credit and reference checks and Fizzy is under no obligation to accept you as a tenant at this stage of the reservation process. Please bear in mind that we do consider all applicants individual circumstances before proceeding with a tenancy.

If you have no income or are a student, you are able to rent with Fizzy provided you are able to provide a UK based guarantor (who passes the affordability criteria of 4 times annual rent) or pay a minimum of 12 months’ rent in advance.

STAGE TWO - ABOUT YOU

While your Credit and Reference Checks are being processed, you will be required to provide further details via the tenant portal in order to submit your tenancy application. This includes information relating to your emergency contacts, additional tenants and what additional services you may require.

At this stage we will ask you to review all of the details you have provided to us and confirm that such information is correct before submitting your tenancy application to us via the tenant portal. If any of the details are not correct customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Please inform us promptly of any changes to those details, including any changes to your contact details. You acknowledge that we will not be liable to you if you do not receive a communication from us because you have failed to inform us of changes to your contact details.

STAGE THREE - TENANT APPROVAL

We will send you an email to inform you whether your tenancy application has been approved. If your application is rejected then please refer to our Cancellations section below.

If your application is successful and you are approved as a tenant, you will be required to log-in to the tenant portal to review your Tenancy Agreement, review all charges payable under your Tenancy Agreement and review the terms of any other services which will be provided to you by third parties (for example, broadband services).

Initial rent amount. If you move in between the 1st to 15th of any month, you will pay from the move in date until the end of that month. If you move in from the 16th day of any month, you will pay from the move in date until the end of that month and all of the following month. Monthly rent amounts are due on the 1st day of every month.

Deposits. The deposit is £1,000 for a studio and one bedroom flat and £1,600 for a two bedroom or three bedroom flat, and is held for you by My Deposit. The deposit covers all damages to the flat and/or furnishings that may occur during your tenancy.

Fizzy also partner with flatfair who offer a no deposit alternative which is a one off payment of £350 per property. Please contact Fizzy for more information on this.

Heating and/or utilities are listed as a separate charge. These adjusted monthly charges are calculated in the same way as the initial rent amount.

You will then be requested to confirm your acceptance and sign up to your Tenancy Agreement via the Site. This must be done within 5 working days, otherwise we cannot guarantee that the property will still be available.

Once you have signed up to the Tenancy Agreement, your rights and obligations to your landlord, including all payments due, shall be governed by the terms of your Tenancy Agreement. Your Tenancy Agreement will set out the date that your tenancy will begin.

Cancellations

WHEN CAN I CANCEL MY RESERVATION OR TENANCY APPLICATION?

You may cancel or withdraw your reservation request or tenancy application at any time before you sign up to your Tenancy Agreement. However, if you do choose to cancel or withdraw your reservation request or tenancy application, the holding deposit you have already paid to us for our reservation service will be non-refundable.

WHEN CAN I CANCEL MY TENANCY AGREEMENT?

Once you sign up to your Tenancy Agreement, you may cancel this Tenancy Agreement by notifying us in writing at any time within the next seven working days starting from the day after you signed up to your Tenancy Agreement. Should you choose to cancel your Tenancy Agreement within this seven working day period, your landlord will refund all amounts you have already paid under your Tenancy Agreement. If you wish to move into your property before the end of this seven working day cancellation period you agree that this cancellation right shall immediately expire.

This cancellation right will also expire as soon as you sign a hard copy version of your Tenancy Agreement.

Once this seven working day cancellation period has expired your rights to cancel or terminate your tenancy will be governed by the terms of your Tenancy Agreement.

WHEN CAN FIZZY SERVICES MANAGEMENT CANCEL MY RESERVATION OR REJECT MY TENANCY APPLICATION?

If you breach these reservation service terms and conditions or your Credit and Reference Checks are unsuccessful, we have the right to reject and/or cancel your reservation request and/or tenancy application. The holding deposit you have already paid to us for our reservation service will be non-refundable if you provide false or misleading information, you fail a Right to Rent check, or you fail to take all reasonable steps to enter an agreement (i.e. responding to reasonable requests for information required to progress the agreement) when the landlord has done so.

WHEN CAN MY LANDLORD CANCEL MY TENANCY AGREEMENT?

Once you sign up to the Tenancy Agreement your landlord’s rights to cancel or terminate your tenancy will be governed by the terms of your Tenancy Agreement.

Liability

If we are in breach of these reservation service terms and conditions, we will only be responsible for any losses that you suffer as a result to the extent that they are a foreseeable consequence to both of us at the time you make the relevant reservation request. Our liability shall not in any event include business losses such as lost data, lost profits or business interruption.

Nothing in these reservation service terms and conditions excludes or limits our liability for death or personal injury arising from our negligence, or our fraud or fraudulent misrepresentation.

Your contract with us

These reservation service terms and conditions and your Tenancy Agreement will be retained by us for our records and will be available for you to access via the tenant portal.

Events beyond our control

We will not be responsible to you for any delay or failure to comply with our obligations if the delay or failure arises from any cause beyond our reasonable control.

Changes to these terms

We may update these reservation service terms and conditions from time to time. Any changes will be notified to you via a suitable announcement on the Site. The changes will apply to our reservation service after we have given notice. If you do not wish to accept the updated terms and conditions of use you should not continue to use our reservation service. If you continue to use our reservation service after the date on which the change comes into effect, your use of our reservation service indicates your agreement to be bound by the updated terms and conditions. However, once you have ticked a box confirming your acceptance of these reservation service terms and conditions via our tenant portal, you will only be bound by such version of the reservation service terms and conditions during your dealings with us in respect of the relevant property.

Transfer of rights

You may not transfer any of your rights under these reservation service terms and conditions to any other person. We may transfer our rights under these reservation service terms and conditions to another business where we reasonably believe your rights will not be affected.

Governing law

These terms and conditions and your use of our reservation service, shall be governed by and construed in accordance with English law and the English Courts shall have non-exclusive jurisdiction in connection with all matters relating to these terms and conditions of use.

Information about us

Please contact us at the following email address with any questions and/or complaints about our service to you: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Information about your landlords

Fizzy Canning Town LLP:

Fizzy Canning Town LLP is a limited liability partnership registered in England and Wales under number OC376389 and is registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Fizzy Epsom LLP:

Fizzy Epsom LLP is a limited liability partnership registered in England and Wales under number OC373689 and is registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Fizzy Poplar LLP:

Fizzy Poplar LLP is a limited liability partnership registered in England and Wales under number OC385234 and is registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Fizzy Stepney Green LLP:

Fizzy Stepney Green LLP is a limited liability partnership registered in England and Wales under number OC388005 and is registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Fizzy Lewisham LLP:

Fizzy Lewisham LLP is a limited liability partnership registered in England and Wales under number OC390946 and is registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Fizzy Lewisham B1 LLP:

Fizzy Lewisham B1 LLP is a limited liability partnership registered in England and Wales under number OC395092 and is registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Fizzy Walthamstow LLP:

Fizzy Walthamstow LLP is a limited liability partnership registered in England and Wales under number OC381359 and is registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Fizzy Hayes LLP:

Fizzy Hayes LLP is a limited liability partnership registered in England and Wales under number OC402362 and is registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.

Fizzy Silvertown A&B LLP (East16)

Fizzy Silvertown A LLP is a limited liability partnership registered in England and Wales under number OC395088, Fizzy Silvertown B LLP is a limited liability partnership registered in England and Wales under number OC395093. Both are registered at Finsbury Circus House, 15 Finsbury Circus, London, EC2M 7EB . VAT number: 184 0794 85

Email: hello@fizzyliving.com

Customers are able to amend personal details inputted at any stage prior to signing their tenancy agreement. Following signature, Fizzy are able to make any amendments on your instruction.


12 Days of Fizzmass 2022 TERMS AND CONDITIONS

1. THE PROMOTER
a. The Promoter is Greystar Europe Holdings Limited of 15 Finsbury Circus House, Finsbury Circus, London, EC2M 7EB (the ‘Promoter’).

2. TERMS
a. These standard terms and conditions (‘Terms’) constitute the entire agreement between a Resident and the Promoter with respect to the matters set forth herein, and no oral statements or prior written matter not specifically incorporated herein shall be of any force or effect at the time of entering the Promotion and/or redeeming the Reward.
b. These Terms apply to the Promotion and by taking out a tenancy agreement and registering to pinglocker (‘Resident app’) are you are thereby submitting an entry, and are agreeing to be bound by these Terms.

3. PROMOTION PERIOD
a. The Promotion shall open at 9:00 01 December 2022 (the ‘Opening Date’) and close at 23:59 on 12 December 2022 (the ‘Closing Date’).
b. All Entries (i) received after the Closing Date, and/ or (ii) that do not meet all Eligibility Requirements are automatically disqualified.
c. For the avoidance of doubt the ‘Reward’ is not redeemable in respect of any other property owned or managed by the Promoter.
d. The Promoter will not accept:
Responsibility for Entries that are lost, mislaid, damaged or delayed in transit, regardless of cause, including, for example, as a result of any equipment failure, technical malfunction, systems, satellite, network, server, computer hardware or software failure of any kind; or
ii. proof of transmission as proof of Entry to the Promotion.

4. ELIGIBILITY

a. The Promotion is open to ‘Qualified Residents’ who have completed and met all the below six (6) requirements (‘Eligibility Requirements’):

i. Entered into a Tenancy Agreement with the Promoter at the participating property, Fizzy, for a minimum 12 month tenancy, before the Closing Date; and

ii. Complete all associated paperwork and pass any checks and referencing required by the Promoter; and
iii. Paid their first full month of Rent and deposit; and
iv. Moved into Fizzy and are a current Resident; and

v. Is registered on pinglocker (‘resident app’) and

vii. Is aged 18 years or over. There is a maximum of one Qualified Resident per apartment and that apartment cannot have previously won a ‘Reward’ as part of the same promotion.

(‘Resident’ and ‘Residents’ shall have the same meaning).

b. Any terms not defined in these Terms shall have the same meaning as defined in your Tenancy Letter and Tenancy Agreement.

c. In entering the Promotion, you confirm that you are eligible to do so and eligible to claim a Reward.

d. The Promoter may require you to provide proof that you are eligible to enter the Promotion.

e. There is a limit of one Entry to the Promotion, per Qualifying Resident, per draw and there can only be one Qualifying Resident (and therefore one entry) per apartment. A limit of one reward per Apartment applies and as such once a Qualified Resident wins a Reward then no other Residents from the same apartment can enter subsequent draws during this promotion period. Entries on behalf of another person or apartment will not be accepted.

f. The Resident cannot claim this Reward in conjunction with any other offers that may be available during this time.

5. THE PROMOTION
a. Each Qualified Resident, will be eligible for one entry into a daily draw for the chance to win the corresponding daily ‘Reward’ as defined in section 6.

b. The promotion is limited to one Reward and one winner per monthly draw.

c. Winners will be selected at random.

6. THE REWARD

a. The ‘reward’ is only redeemable by the Qualifying Resident, who is entered. The rewards are as follows:

i. Day One – Residents who are eligible will be entered into a draw on 1st December for a chance to win 1 x reward of 2 weeks rent free, maxed at £1,500.00.

ii. Day Two – Residents who are eligible will be entered into a draw on 2nd December for a chance to win 1 x reward of John Lewis voucher valued at £30.00.

iii. Day Three - Residents who are eligible will be entered into a draw on 3rd of December for a chance to win 1 x reward of a Deliveroo voucher valued at £30.00.

iv. Day Four - Residents who are eligible will be entered into a draw on 4th December for a chance to win 1 x reward of John Lewis voucher valued at £40.00.

v. Day Five - Residents who are eligible will be entered into a draw on 5th December for a chance to win 1 x reward of UberEATS voucher valued at £50.00.

vi. Day Six - Residents who are eligible will be entered into a draw on 6th December for a chance to win 1 x reward of John Lewis voucher valued at £50.00.

vii. Day Seven - Residents who are eligible will be entered into a draw on 7th December for a chance to win 1 x reward of 3-course meal for 2 with a bottle of Prosecco and a Christmas hamper at Yapix valued at £70.00.

viii. Day Eight - Residents who are eligible will be entered into a draw on 8th December for a chance to win 1 x reward of a Trip to top of the shard for two with a glass of bubbles.

ix. Day Nine - Residents who are eligible will be entered into a draw on 9th December for a chance to win 1 x reward a Fortnum & Mason’s Christmas Hamper.

x. Day Ten - Residents who are eligible will be entered into a draw on 10th December for a chance to win 1 x reward of a Champagne Afternoon Tea for 2 at the Hotel Café Royal.

xi. Day Eleven - Residents who are eligible will be entered into a draw on 11th December for a chance to win 1 x reward an Amazon voucher valued at £250.00.

xii. Day Twelve - i. Day One – Residents who are eligible will be entered into a draw on 12th December for a chance to win 1 x reward of 1 month rent free, with a total value of £2,600.00.

b. Residents are responsible for all other associated costs associated to their tenancy, including, but not limited to; pet rents, parking rent, utility bills and hire costs for amenity spaces.

c. Residents must have met the Eligibility Requirements before the draw date for that month in order to be entered for that months draw.

d. The Reward of rent will be applied to the following month’s rent run.

7. PARTICIPATING PROPERTIES AND ROOM TYPES
Standard, DMR and LLR apartments at Fizzy Living.

8. ANNOUNCEMENT
a. Residents who have successfully submitted an Entry and been selected for the Reward will be notified by the Promoter within 48 working hours of the draw date using the telephone number or email address provided with the Entry. The Promotor will clearly advise how to claim the Reward.
b. Residents will begin to receive their Reward starting on the 9th of December 2022. If a Resident has not claimed their Reward within the period of 48 hours, the Resident loses the right to claim the Reward and the Promoter will organise a re-draw.

9. LIMITATION OF LIABILITY
a. Insofar as is permitted by law, the Promoter, its agents or distributors will not in any circumstances be responsible or liable to compensate any Qualifying Resident or entrant or accept any liability for any loss, damage, personal injury or death occurring as a result of taking up the Promotion and/ Reward except where it is caused by the negligence of the Promoter, its agents or distributors or that of their employees. Your statutory rights are not affected.
b. The Promoter accepts no responsibility for any disappointment of any kind suffered by any entrant in entering the Promotion, including as a result of any entrant being rewarded or not rewarded with a Reward.

10. DATA PROTECTION AND PUBLICITY
a. You agree that the Promoter may use your name, image and town or county of residence to announce the same and for any other reasonable and related promotional purposes.
b. You further agree to participate in any reasonable publicity required by the Promoter.
c. By entering the Promotion, you agree that any personal information provided by you with the Entry may be held and used only by the Promoter or its agents and suppliers to administer the Promotion.
d. By entering and receiving the Promotion, you agree to be contacted by the Promoter to request permission to use the winner’s name and photograph on Fizzy Living’s social media accounts and website, as well as promotional activity such as PR campaigns and blogs.
e. The winner may be contacted by the Promoter to request a quote for use in a press release.
f. The decision of the Promoter regarding any aspect of the prize draw is final and binding.

11. GENERAL
a. The Promoter reserves the right in its absolute discretion to disqualify any Qualifying Resident if it has reasonable grounds to believe that an entrant has breached any of these Terms or any applicable law. Each Qualifying Resident acknowledges and agrees that any failure to comply with these Terms could lead to the Promoter disqualifying that person, without the Promoter giving any reason for such disqualification or granting any opportunity for challenge.
b. The Promoter reserves the right to cancel or amend all or any part of the Promotion and/or Terms without notice and at its sole discretion where it becomes necessary to do so, including for any event that is outside of the Promoter's reasonable control. Any changes to these Terms, or cancellation of the Promotion, will be posted on the Promoter’s website fizzyliving.com ). It is the responsibility of entrants to keep themselves informed as to any changes to these Terms.
c. This Promotion is subject to limited availability and will be available on a first come first served basis. The Rewards are not transferable to another individual and no alternatives will be offered.
d. These Terms and any dispute or claim arising out of or in connection with them or their subject matter (including the Promotion), existence, negotiation, validity, termination or enforceability (including non-contractual disputes or claims) shall be governed by the laws of England and Wales.
e. The Courts of England shall have exclusive jurisdiction in relation to any dispute or claim arising out of or in connection with these Terms or their subject matter, existence, negotiation, validity, termination or enforceability (including non-contractual disputes or claims)

f. The Promoter reserves the right to substitute the Reward for a Reward for a similar award of equal or higher value.