Investors
  2. Terms and Conditions 

Terms and Conditions 

Terms and Conditions 

Standard Terms and Conditions 

The Terms and Conditions are to be read in conjunction with the relevant IREN Community Grants Program (the Program) application form (Application Form). By applying, applicants are deemed to have accepted these terms and conditions and acknowledge they apply to any funding that may be granted by Podtech Data Centers Inc. (doing business as IREN) (Podtech) as part of the Program. 

 

1. Who is eligible to apply?

Applications will only be accepted from organizations and not individuals. Only one application may be submitted for each organization for each round of funding (the Project). 

Applications for funding will be considered from organizations that: 

  • Deliver social or environmental projects or services to residents in the community in which the IREN Group operates. 
  • Best address the selection criteria outlined in the Application Form, including community participation, sustainability, safety, diversity, stem participation.

 

2. How and when to apply?

Application opening and closing dates are listed in the Application Form (Application Period). Applications submitted after the closing date will not be accepted. 

Applicants are advised not to submit original documents, videos, audio cassettes, or models with their application. However, annual reports or other publicity material may be included with the application where relevant. Podtech will not be responsible for loss or damage to any documents, information, or items included in or as part of an application. 

Applications must: 

  • Be made using the relevant Online Application Form. 
  • Identify specific objectives or problems and present respective plans and solutions. 
  • Show that the Project is planned around an achievable timetable and budget. 
  • Demonstrate that the Project is directed at solving problems sustainably rather than providing short-term relief from symptoms or long-term dependency. 
  • Build in reporting and evaluation of the Project. 

 

3. Assessment of your application 

The procedure for assessing applications is intended to operate as follows: 

  • Formal assessment begins based on Funding Key Priorities, eligibility criteria, and Terms and Conditions. This will include establishing that the application: 
  • Meets the eligibility and funding criteria set out in these guidelines. 
  • Has been completed satisfactorily and is accompanied by the appropriate documentation. 
  • Any decision to grant or not grant funding will be made in Podtech’s sole and absolute discretion. 
  • Podtech will endeavour to notify successful applicants within eight weeks of the application’s closing date. Successful applicants will be notified by mail or email. Podtech may extend the period for considering applications and notifying applicants at its sole discretion and without notifying applicants. 
  • Podtech will send successful applicants an offer for funding (Letter of Offer). Successful applicants may also be required to enter into a separate funding agreement with Podtech, which will set out additional requirements, obligations and terms and conditions in relation to the funding granted. 
  • Funding will be distributed to successful applicants in accordance with the relevant Letter of Offer (if accepted by the applicant). Podtech will not be required and does not intend to provide reasons for any decisions made in relation to any refusal to make a grant or any amount that is determined to be granted.

Podtech reserves the right, in its sole and absolute discretion, to modify the processes outlined in this section or to follow a different assessment process. 

 

4. Provision and usage of funds 

  • Podtech will provide the successful applicant(s) (Recipient) with funding either in a one-off payment or ongoing payments (subject to any milestones determined by Podtech being satisfied) for the amount determined by Podtech in its sole and absolute discretion. The Recipient must sign and return the Letter of Offer for funding from Podtech, and any separate funding agreement (if required by Podtech), before any funds are distributed. 
  • The funding amount must only be used and applied solely for the Project stated in the application and Letter of Offer from Podtech.
  • The Recipient must keep accurate and complete written records (including financial records) relating to the expenditure of the funding granted on the Project (Project Records). Recipients may be asked also to provide written reports on the progress and results of the funded Project, including details of funding expenditure. All Project Records must be made available to Podtech or its authorized representative at all reasonable times for inspection, audit or reproduction for a period of at least seven years from the date of the grant of funding. 
  • Recipients who receive two or more consecutive years of funding are required to supply a report annually in the form required by Podtech. Continued funding will depend on the progress of the funded Projects and the achievement of stated objectives. 
  • Expenditure of the funds granted must be completed within twelve months of the grant, unless otherwise arranged with and approved by Podtech. The Recipient must repay to Podtech any amounts which are not expended within this time, unless otherwise arranged with and approved by Podtech.
  • The Recipient must complete and provide to Podtech a detailed summary of the outcomes of the Project (Acquittal Form). The Acquittal Form must be provided to Podtech within four weeks of the end date of the Project or seven months of receiving the grant, whichever is earlier. Failure to supply the Acquittal Form will automatically disqualify the Recipient from applying for funding in future Application Periods. 
  • If the Recipient is registered for PST/GST, the amount of awarded funding will include the PST/GST amount, subject to a tax invoice being provided to Podtech.

 

5. Withdrawal or repayment of funds 

  • Podtech reserves the right to withdraw funding, in its sole and absolute discretion, if the Recipient does not meet funding criteria. 
  • If the Recipient is in breach of these Terms and Conditions, or it is subsequently determined that the Recipient was not eligible for the Funds, the Recipient must repay to Podtech any Funds the Recipient had received. 
  • If, at any time, the stated purpose of the Project is no longer possible or cannot be completed in the manner described in the application and proposal submitted to IREN, the Recipient must advise Podtech and the Recipient must return any remaining unspent amount of the funding provided to Podtech within two weeks of this becoming apparent. However, Podtech may (in its sole and absolute discretion) agree to a variation to the purpose and Project provided that the variation of the Project still meets the initial funding criteria. 
  • Podtech will not be responsible for any additional project costs, nor obliged to pay any monies additional to the amount granted. 

 

6. Promotion of Recipient and IREN

  • Podtech’s financial assistance to the Recipient’s activity/project must be acknowledged, regardless of the amount of funding. The Recipient must display the IREN logo or state in writing that IREN has funded the project. IREN may not be referred to, or its logo or trademarks used, for any purposes outside of the project. Podtech will supply acknowledgement guidelines, use of trademark guidelines and logos.
  • All advertising, signage, media releases, and other promotional material that contains the IREN logo must be submitted to and approved by Podtech (in consultation with Iris Energy Limited) prior to its production and release. The Recipient must compensate Podtech for any loss or damage suffered by it or its parent company, Iris Energy Limited (doing business as IREN) as a result of any unauthorized use by the Recipient of Iris Energy Limited’s (doing business as IREN) intellectual property (including its logo). 
  • Podtech or any member of the IREN Group may promote the Project and any organization that is awarded funds. Successful applicants agree to be included in various promotional, media, communication, and marketing material and will cooperate with Podtech and any member of the IREN Group in promoting the Project. 

 

7. General Conditions 

  • The Recipient must keep and maintain adequate insurance (including public liability insurance) for the activities carried out by the Recipient in relation to the Project the subject of the funding, against any claims for loss or damage to property and injury or death to persons. 
  • To the extent permitted by law, the companies in the IREN Group and its directors, officers, employees, and agents will not be liable for any loss, damage, or personal injury suffered or sustained in connection with an organization’s application or expenditure of funds. 
  • Applications must not infringe the intellectual property rights of any person or entity, and the organization indemnifies against any claim made against any company in the IREN Group alleging that a member of the IREN Group’s use of information provided by the organization infringed the intellectual property rights of any person or entity.