ETP Resources, LLC Terms of Use

(Updated April 1, 2010)

Your Use of the ETPResources.com Website.

When you access or use any part of the web pages, databases, images or other digital assets comprising or consisting of the Internet website designated by the www.etpresources.com uniform resource locator (collectively, the “Website”), you agree to be bound by all of the terms and conditions described in these Terms of Use, as well as the ETP Resources, LLC Privacy Policy, which can be accessed through the “Privacy” link on the Website home page (the “Privacy Policy”).

If you do not agree to be bound by these Terms of Use or the Privacy Policy, ETP Resources, LLC (“ETP Resources”) does not authorize you to access or use the Website or any portion thereof, and in such case, you should immediately exit the Website.  ETP Resources may modify these Terms of Use at any time in its sole discretion.  Such modifications will be posted on the Website and are generally intended to be effective as soon as they are posted.  You should review these Terms of Use every time you access or use the Website, as each time you access or use the Website, such modified Terms of Use (if any) will apply to such access or use.

Your Use of Website Content.

All work product, analyses, compilations, tools, software programs, code, applications, databases, data, meta-data, images, text, hypertext links, and all other content, information and materials contained in or appearing on the Website (the “Website Content”) is and will remain at all times the exclusive property of ETP Resources and its licensors.  Certain portions of the Website Content may be provided to certain individuals and firms pursuant to one or more sales and license agreements (“SLA’s”) providing for limited use and distribution of same (each, a “Subscriber”).  The use and distribution of such portions of the Website Content is governed by these Terms of Use and applicable SLA’s. Use of any portion of the Website Content by persons other than Subscribers shall be solely for personal, non-commercial purposes, unless otherwise expressly approved by ETP Resources in writing. 

Except as provided in one or more SLA’s (as applicable to each Subscriber), or except as expressly agreed by ETP Resources in writing (as to all users other than Subscribers), you are not permitted to use or distribute any of the Website Content in any manner which is directly or indirectly in competition with ETP Resources, including without limitation, providing evaluation or analysis of exchange-listed or open-ended securities or funds in any form, electronic or otherwise.

The Website and the Website Content are protected by copyright, trademark, trade dress, trade secret and other laws, rules, regulations and international treaties.  All rights reserved.  Except as expressly permitted by ETP Resources in these Terms of Use, one or more SLA’s or as otherwise expressly agreed upon by ETP Resources in writing, you agree not to use, sell, copy, reproduce, distribute, sell, publish, publicly-display, disseminate, transfer, manipulate, reverse engineer or create derivative works from the Website, the Website Content or any portion thereof.  You agree not to insert or upload any code or product on or to the Website to manipulate the Website Content in any way that impacts or affects the access or use of the Website by any person. You further agree not to access or use the Website and the Website Content through any means except interfaces authorized and provided by ETP Resources specifically for access and use of the Website and the Website Content by Permitted Users.

Unauthorized use or access of the Website Content constitutes a breach of these Terms of Use and could constitute a violation of state, federal or international laws, rules, regulations or treaties.  ETP Resources may at any time, without prior notice, in its sole and absolute discretion, remove any information submitted to or posted on the Website, terminate the subscription, user name and password of, and take other appropriate action against, any person who violates any of these Terms of Use (including without waiver or limitation seeking equitable remedies such as injunctive relief).

Accuracy of Information; Disclaimers; Links to Third Party Websites.

ETP Resources does not intend the Website or the Website Content to be investment, legal, tax, accounting or other professional advice.

ETP Resources offers the materials and information on the Website solely to Permitted Users, only as an informational service.  ETP Resources does not provide individual or customized investment or trading advice and does not consider any particular user’s (including Permitted Users) individual or specific investment objectives or strategies.  All information and materials on the Website are intended for experienced, sophisticated securities industry professionals or individuals with extensive investment experience, each of whom is familiar with the risks and consequences of investing and losses which may be incurred in connection therewith.  All users of the Website and the Website Content take full responsibility for their investment decisions and recommendations.  Although ETP Resources has attempted to provide accurate and timely information and has relied upon sources it believes to be reliable, the Website and the Website Content may include inaccuracies.  All information set forth on the Website must be considered hypothetical.  Past results of any investment, fund, security or commodity are not guarantees of future performance. 

The Website and the Website Content are not offers or recommendations to buy, sell, trade or exchange any security, fund, product or similar property or to participate in any particular strategy in regard thereto.  ETP Resources makes no recommendations as to the financial strength or merit of any investments, products or securities summarized, analyzed or otherwise identified on the Website.  ETP Resources is not affiliated with, and does not endorse, sponsor or otherwise support any financial products, investments, strategies or securities.  Therefore, neither ETP Resources, nor any of its members, managers, employees, agents, successors or assigns will be liable for any investment advice, investment decision, purchase, sale or other trading strategy or position based (in whole or in part) upon the Website or the Website Content.  In consideration of your being granted access and use of the Website and the Website Content, you agree to indemnify, defend and hold ETP Resources and its members, managers, employees, agents, successors and assigns harmless from and against any claims, actions, damages, costs and expenses (including reasonable and documented attorneys fees and court costs) arising from or relating to your use or access of the Website and the Website Content, including without limitation, any decision or recommendation you make based (in whole or in part) thereupon.

From time to time, ETP Resources may provide HTML links to websites and domains owned and operated by third parties who are not affiliated with ETP Resources.  Such links are provided for your convenience.  ETP Resources is not liable for the content of third party websites to which such HTML links may lead you.  You should always confirm the terms of use and privacy information of all third party websites that you access or use.  The use of HTML links to third party websites on the Website does not constitute an affiliation, endorsement or recommendation of the company, sponsor or content of any such third party websites or any advertisers or sponsors set forth thereupon.

Linking to the Website.

ETP Resources may permit certain parties to hyper-text link directly to the Website, but only in certain limited circumstances, and only if the party initiating such linking complies with the following conditions:

• Unless expressly agreed by ETP Resources, each hyper-text link to the Website must resolve to the Website home page at www.etpresources.com.

• The text of the hyper-text link must read “ETP Resources™”

• The hyper-text link and surrounding context on the site which posts the hyper-text link(the “Posting Site”) must not portray ETP Resources or any of the Website Content, in a false, misleading or derogatory manner; deliver any Website Content in a framed environment or alter the layout, content, look, or feel of the Website; or misrepresent any relationship between the Posting Site and ETP Resources, the Website, or the Website Content, including but not limited to suggestions of authorship, ownership, affiliation, endorsement, or sponsorship with any of them (unless such relationship has been expressly authorized by ETP Resources in writing).  ETP Resources reserves the right to require a Posting Site to provide sufficient notice to users to make them reasonably aware that they have left the Posting Site upon selecting a hyper-text link to the Website.

ETP Resources may provide written permission to a third party who has created a hyper-text link that conforms to the forgoing  conditions to also include one or more hyper-text links to authorized data or material on lower-tier pages of the Website other than the homepage located at www.etpresources .com (“Permitted Deep Links").  Such third parties may include Permitted Deep Links on a Posting Website, but only if such Permitted Deep Links are in close visual proximity to the hyper-text link that conforms to foregoing conditions.

No Warranties; Limitation of Liability.

ETP Resources prepareS AND UPDATES the Website and the Website Content based upon sources, systems and methodologies it believes to be reliable and accurate, but ETP RESOURCES provides the Website and all elements of the Website Content “AS-IS,” “WHERE-IS” and “WITH ALL FAULTS.”  ETP RESOURCES AND ITS VENDORS AND AFFILIATES DO NOT GUARANTEE THE ACCURACY, COMPLETENESS OR QUALITY OF THE WEBSITE OR THE WEBSITE CONTENT AND MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND WITH RESPECT TO THE WEBSITE OR THE WEBSITE CONTENT EXCEPT AS EXPRESSLY PROVIDED HEREReIN.  EXCEPT AS EXPRESSLY PROVIDED IN THESE TERMS OF USE, etp resources SPECIFICALLY AND EXPRESSLY DISCLAIMs ALL EXPRESS OR IMPLIED WARRANTIES OF ANY KIND OR NATURE, INCLUDING WITHOUT LIMITATION, REPRESENTATIONS AND WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, OR ANY WARRANTIES ARISING UNDER OR PURSUANT TO USAGE, CUSTOM, TRADE PRACTICE OR BY OPERATION OF LAWS OR RULES.   

ALL MATERIAL AND INFORMATION YOU ACCESS, USE, DOWNLOAD OR OTHERWISE OBTAIN FROM THE WEBSITE IS ACCESSED AND USED AT YOUR OWN RISK, AND YOU ASSUME ALL RESPONSIBILITY FOR ANY AND ALL DAMAGES, LOSS, DATA LOSS, BUSINESS INTERRUPTION, COMPUTER SYSTEM INTERFERENCE AND INTERRUPTION, LOSS OF PROPERTY OR REVENUE OR OTHER LOSS OF ALL KINDS AS A RESULT OF YOUR DOWNLOAD OR USE OF SUCH MATERIAL OR INFORMATION.

ETP RESOURCES NOR ITS VENDORS, AFFILIATES, MEMBERS, MANAGERS, EMPLOYEES, AGENTS, SUCCESSORS AND ASSIGNS SHALL NOT BE LIABLE TO YOU OR TO ANY THIRD PARTY FOR ANY DIRECT, SPECIAL, INCIDENTAL, INDIRECT, CONSEQUENTIAL, OR PUNITIVE DAMAGES OR ANY OTHER LOSS OR INJURY CAUSED (WHOLLY OR PARTLY) BY YOUR USE OR ACCESS OF THE WEBSITE OR THE WEBSITE CONTENT, YOUR INABILITY TO USE OR ACCESS THE WEBSITE OR THE WEBSITE CONTENT, OR IN CONNECTION WITH ANY INTERRUPTION OR DELAY IN OPERATION OF THE WEBSITE.

Applicable Law; Forum for Disputes.

You agree that these Terms of Use and your access and use of the Website and the Website Content are governed by and shall be interpreted in accordance with the laws of the State of Ohio, United States of America.  In the event of any dispute arising in relation to your use or access of the Website or the Website Content, the state and federal courts located in Franklin County, Ohio, USA shall have exclusive jurisdiction and venue over such dispute. 

Survival of Provisions.

Your obligations with respect to use and access of the Website, the Website Content, ETP Resources’ intellectual property rights, disclaimer of warranties, limitation of liability and applicable law and forum for disputes set forth in these Terms of Use will survive any termination or expiration of these Terms and Conditions or the termination or expiration of your rights as a Permitted User or to otherwise use or access the Website or the Website Content.