Yes. You may cancel the purchase, but! you then may not use the musictracks in any form.
You are entitled to cancel the purchase within 14 days from the date of its purchase and/or renewal and get a refund. By the end of 14 days from the purchase and/or renewal of the subscription you will not be entitled to cancel the purchase. To the extent you cancel the purchase within 14 days and get a refund as mentioned, you will be absolutely forbidden from making any use of any of the Works you downloaded from the Site during the 14 days period as from the purchase and/or renewal of the purchase and until the cancellation by you, and any use of any of the Works which were downloaded during that time will be considered a violation of the License and a violation of copyrights. Upon termination of the purchase for any reason whatsoever the Agreement and the License to Use granted by its virtue will also be terminated. Expiration of the License is not such as to derogate from your right to continue and use the Works you downloaded during the time the License was valid, and which you integrated in Projects.