You are accessing Arden’s network pursuant to the terms of this Agreement and any existing agreement you may have with us. You and your authorized designees (“Authorized Designees”) access the Site “AS IS” and acknowledge that the Site and the remote access services related to use of certain portions of this Site are proprietary to and confidential property of Arden and its relevant licensors and information and data suppliers (“Suppliers”). All equipment, systems, services and software are to be used for your business purposes only in accordance with the terms of this Agreement and your agreement(s) with Arden. Unauthorized access, use or distribution is in violation of state and/or federal statutes. Arden reserves the right to monitor and audit all transactions and data (including e-mail messages) for any purpose sent over this network and your use of this Site unless prohibited by law. You agree that a printed version of this Agreement shall be admissible in judicial or administrative proceedings to the same extent as other business documents and records.

Copyright, trademarks, database rights, patents and all similar rights in this Site and the information contained in it are owned by Arden, their licensors or relevant third party content providers. You may use the information on this Site and reproduce it in hard copy for your personal reference only. Such information may not otherwise be reproduced, distributed, stored in a data retrieval system or transmitted, in any form or by any means—electronic, mechanical, photocopying, recording or otherwise—without the prior written permission of Arden. Nothing on this Site should be considered as granting any license or right under any trademark of Arden or any third party.

No Offer/Local Restrictions

Nothing contained in or on the Site should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. Arden offers a number of products and services designed specifically for various categories of investors in various countries and regions. Not all products will be available to all investors. These products or services are only offered to such investors in those countries and regions in accordance with applicable laws and regulations.

No information included on this Site is to be construed as investment advice or as a recommendation or a representation about the suitability or appropriateness of any advisory product or service; or an offer to buy or sell, or the solicitation of an offer to buy or sell, any security, financial product, or instrument; or to participate in any particular trading strategy. Arden recommends that you seek independent financial and tax advice before making any investment decisions.

Not all products or services provided on the Site are available in all jurisdictions. Arden’s products and services are only available in jurisdictions where it is lawful to advertise and market these products and services. The information on the Site has been prepared for informational purposes only without regard to any particular user’s investment objectives, or financial situation or position and Arden is not soliciting any action based upon them.

The information provided on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. All persons and entities accessing the Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. The Site is not directed to any person in any jurisdiction where the publication or availability of the Site is prohibited, by reason of that person’s nationality, residence or otherwise. Persons under these restrictions must not access the Site.

No Reliance

Information contained in the Site is checked and updated by Arden with due diligence on a regular basis. However, data and information on the Site may become outdated. Therefore, neither Arden nor any of their affiliates assumes any liability or guarantee for the timeliness, accuracy and completeness of the information provided. Arden uses reasonable efforts to obtain information from sources which it believes to be reliable; however, Arden makes no representation that the information or opinions contained on the Site are accurate, reliable or complete. The information on the Site is provided for informational purposes only and is subject to change without notice. The investments and strategies discussed in the contents may not be suitable for all investors and are not obligations of Arden or guaranteed by Arden. Nothing contained on the Site constitutes investment, legal, tax or other advice nor is to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.

No Warranty

The site and the information included on the site are provided to you “as is” without any warranties of any kind. Arden nor any of its respective affiliates or suppliers, warrants the accuracy, adequacy, completeness, or timeliness of the materials provided on this site or the site’s error-free use or connectivity or availability of the site or content. There is no warranty of any kind - either express or implied - including but not limited to the warranties of non-infringement of third-party rights, title, merchantability, accuracy, availability and fitness for any particular purpose and freedom from computer virus.

Arden makes no warranty whatsoever to you, express or implied, regarding the security of the site, including with respect to the ability of unauthorized persons to intercept or access information transmitted by you through this site.

Limitations of Liability

To the maximum extent permitted by applicable law, in no event, including negligence, shall Arden or any of its respective affiliates or suppliers be liable for any loss or damage of any kind, including any direct, special indirect or consequential damages (including but not limited to, damages for loss of data, loss of programs, or any other pecuniary loss), arising out of or in any way connected with the access of, use of, performance of, browsing in or linking to other sites from the site, or any information and related graphics contained in or made available through the site, even if Arden or any affiliate or supplier has been advised of the possibility of such damages. Because some states and jurisdictions do not allow the exclusion or limitation of liability, the above limitation may not apply to you. You hereby release and forever waive any and all claims you may have against Arden or its respective affiliates and suppliers, or their respective officers, directors, employees, agents, information providers or suppliers for losses or damages you sustain in connection with your use of this site.

Investment Performance

You acknowledge that all data and information transmissions via the site are solely for the informational and other purposes set forth herein, and are not intended as financial advice or as an offer, solicitation or recommendation of securities or other financial products, or to satisfy regulatory requirements or comply with any applicable laws, rules, requirements or standards of any federal, state or local governmental authority, agency or industry regulatory board, including the securities industry, which compliance is your sole responsibility. Historical performance is not necessarily indicative of future performance of an investment. The value of investments may fall as well as rise and investors may not get back the amount invested.

Applicable Law

Your use of this Site and this Agreement is governed by the laws of the State of New York and applicable federal law.

If any provision of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected. No term or provision shall be deemed waived and no breach excused unless such waiver or consent shall be in writing and signed by the party claimed to have waived or consented. You shall not assign this Agreement, or any of your rights and obligations hereunder, without Arden’s prior written consent.

Arden reserves the right, in its sole discretion, to change, modify, add or remove portions of this Agreement at any time without notice to Site users. Similarly, Arden reserves the right, in its sole discretion, to change, modify, add or remove the content of this Site, including the country-specific sections, or to terminate the website in whole or in part. You must check this Agreement periodically for changes. Any changes, modifications, or additions to, or deletions from this Agreement shall be effective upon posting on this Site. If you access this Site, including the country-specific sections, after changes to the Agreement are posted changes, you further acknowledge the Agreement as changed and agree to be bound by them.

United Kingdom Users

This communication is directed at professional persons (this includes persons who are market counterparties and intermediate customers as defined by the Financial Conduct Authority) who have professional experience in matters relating to investments. The products and services to which this communication relates are only available to such persons and persons of any other description (including private investors) should not rely on this communication.

To the extent this communication refers to collective investment schemes, this communication is directed at persons having professional experience of participating in unregulated schemes and at trustees of high value trusts. Units in the scheme(s) to which this communication relates are available only to such persons. Persons who do not have professional experience in participating in unregulated schemes or who are not trustees of a high value trust should not rely on it. Participation in exempt collective investment schemes is restricted to pension schemes or funds which satisfy the criteria set out in the Income Tax (Pension Funds Pooling Schemes) Regulations 1996.