# Terms of Use
These terms and conditions of use (“User Agreement”) apply to this website (the “Site”) and your use of the Site.
Please read these terms and conditions of use carefully before using the Site. By accessing and continuing to use the Site, you acknowledge that you have read, understood and agree to these terms and conditions of use. If you do not agree to these terms and conditions of use, you may not access or use the Site. Excela Capital Management, L.P. and its affiliates (“Excela”, “Excela Capital”, “we”, “us” or the “Company”) reserves the right, at the Company’s discretion, to change, modify, add or remove portions of these terms at any time. Modifications will be effective immediately upon posting unless we indicate otherwise. Therefore, Excela suggests that you review these terms periodically for changes. By using the Site after the Company has posted changes to these terms and conditions of use, you are agreeing to be bound by these terms as amended.
**Excela grants you a limited right to use the Site**
* You may not violate or attempt to violate the security or integrity of the Site or obtain access to content or systems where you are not authorized. At any time and for any reason we may revoke your right to access or use all or any portion of the Site.
**The Site is owned by Excela, its affiliates and/or third parties**
* The Site is protected by one or more copyrights, patents, database rights, trademarks, service marks and/or other intellectual property and proprietary rights that are owned by Excela, its affiliates and/or third parties.
* You may not attempt to or otherwise decompose, decompile, reverse engineer, disassemble or otherwise deconstruct all or any portion of the Site.
* You may not attempt to or otherwise publish, broadcast, retransmit, reproduce, repackage, frame, commercially exploit, create any derivative of or otherwise redistribute all or any portion of the Site except as explicitly permitted in this User Agreement.
* You may not remove any copyright, trademark or other proprietary notice or legend contained on (or printed from) the Site.
**You make certain representations and warranties regarding your use of the Site**
* You represent and warrant that:
  + you have full authority and all rights necessary to enter into and fully perform all of your obligations pursuant to this User Agreement;
  + you have not and you will not enter into any agreement or perform any act which might contravene the purposes and/or effects of this User Agreement; and
  + you will not delete any Content.
* The Content may contain information, including fund terms, relating to funds in which you are not currently invested. By accessing the Site, you acknowledge that you have requested for the Content to be made available to you and this request does not arise from any Excela marketing.
**All Content is for informational purposes only**
* Nothing on the Site is an offer or solicitation to buy or sell any security.
* Although the Site may include investment-related information, nothing on the Site is a recommendation that you purchase, sell or hold any security or other investment, or that you pursue any investment style or strategy.
* Excela does not give any advice or make any representations through the Site as to whether any security or investment is suitable to you or will be profitable.
* Nothing on the Site is intended to be, and you should not consider anything on the Site to be, investment, accounting, tax or legal advice.
* If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants or attorneys regarding your individual circumstances and needs.
* THE PAST PERFORMANCE OF ANY INVESTMENT, INVESTMENT STRATEGY OR INVESTMENT STYLE IS NOT INDICATIVE OF FUTURE PERFORMANCE. NO REPRESENTATION IS MADE THAT ANY EXCELA FUND OR ENTITY WILL OR IS LIKELY TO ACHIEVE ITS OBJECTIVES.
* This Site contains forecasts, projections and/or other forward-looking statements, including (but not limited to) the occurrence or outcome of anticipated events. There is no guarantee that such forecasts, projections or forward-looking statements will be realized and therefore investors should not rely on such statements in making an investment decision.
**There are various risks you assume in relying on the Content**
* Dated Content speaks only as of the date indicated.
* Excela makes reasonable efforts to provide accurate Content, but at times Excela may not promptly update or correct the Site even if it is aware that it is inaccurate, outdated or otherwise inappropriate.
* Excela may change all or any portion of the Site at any time without notice to you.
* Excela does not endorse the opinions of, or warrant the accuracy of facts or other Content contributed by, any third party.
* You agree that Excela is not liable for any action you take or decision you make in reliance on any Content.
**Excela is not liable for any technological problems and any impact that they may have**
* All or any portion of the Site may not be available and may not function properly at any time.
* Excela makes reasonable efforts to avoid technological problems, but at any time the Site may have and may cause technological problems such as viruses and other damaging computer programming routines or engines.
* Excela takes reasonable security precautions when using the Internet, telephone or other means to transport data or other communications, but Excela disclaims liability for any interception of data or communications.
* Excela makes reasonable efforts to ensure that the Site is secure but it does not guarantee the security of the Site.
* Excela is not liable for any damage or injury caused by the performance or failure of performance of all or any portion of the Site.
* Excela is not liable for any defects, delays or errors in or resulting from your use of the Site.
Excela is not responsible for information on any third party website that is referred in, or accessible or connected by hyperlink to, the Site
* Excela does not review or monitor any third party websites linked from or to the Site and your following links from or to such websites is at your sole risk. Accordingly, Excela cannot be held responsible for the information, materials, products or services obtained on or from such other websites, nor will Excela be liable in any respect whatsoever for any damages arising from your access to such websites.
* Hyperlinks to or from the Site do not constitute third party endorsement of, sponsorship by or affiliation with Excela.
**Excela has the right but not the obligation to monitor and record activity on the Site and respond as it deems appropriate**
* Excela may monitor and record activity on the Site for any reason or for no reason.
* Excela may investigate any complaint or reported violation of its policies.
* Excela may report any activity that it suspects may violate any law or regulation to regulators, law enforcement officials or other persons or entities that it deems appropriate.
* Excela may issue warnings, suspend or terminate use of the Site, deny access to all or part of the Site or take any other action that it deems appropriate.
**Excela will abide by its privacy notice**
* Personal nonpublic information that Excela gathers from you will be governed by its Privacy Notice
**EXCELA DISCLAIMS ALL WARRANTIES WITH RESPECT TO THE SITE THAT THE LAW ALLOWS IT TO DISCLAIM**
* THE SITE IS PROVIDED “AS IS” AND “AS AVAILABLE.”
* EXCELA DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE SITE INCLUDING WARRANTIES OF
  + MERCHANTABILITY,
  + FITNESS FOR A PARTICULAR PURPOSE AND
  + NON-INFRINGEMENT OF INTELLECTUAL PROPERTY AND PROPRIETARY RIGHTS.
* WITHOUT LIMITING EXCELA’S GENERAL DISCLAIMER, EXCELA DOES NOT WARRANT THE AVAILABILITY, ACCURACY, COMPLETENESS, TIMELINESS, FUNCTIONALITY, RELIABILITY, SEQUENCING OR SPEED OF DELIVERY OF THE SITE OR ANY PART OF THE CONTENT.
* EXCELA’S LIABILITY WITH RESPECT TO THE SITE IS LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
* IN NO EVENT WILL EXCELA OR ANY OF ITS AFFILIATES, AGENTS OR EMPLOYEES BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES HOWEVER CAUSED ARISING OUT OF THIS USER AGREEMENT, THE SITE, OR THE INABILITY TO USE THE SITE.
* OUR LIABILITY IS LIMITED EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF THE DAMAGES THAT YOU SUFFER OR IF ANY REMEDY YOU HAVE FAILS IN ITS ESSENTIAL PURPOSE.
* UNDER ALL CIRCUMSTANCES, THE MAXIMUM LIABILITY OF EXCELA, ITS AGENTS AND EMPLOYEES TO ANY USER OF THE SITE WITH RESPECT TO THE SITE IS $100. THIS LIMITATION OF LIABILITY APPLIES REGARDLESS OF ANY NEGLIGENCE OR GROSS NEGLIGENCE OF EXCELA OR ANY OF ITS AGENTS OR EMPLOYEES. YOU ACCEPT ALL RISKS IN RELYING ON ANY INFORMATION CONTAINED IN THIS SITE.
* DISCLAIMER OF LIABILITY APPLIES TO ANY AND ALL DAMAGES OR INJURY, INCLUDING THOSE CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO, ALTERATION OF OR USE OF ANY ASSET, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE OR UNDER ANY OTHER CAUSE OF ACTION.
* YOUR SOLE REMEDY FOR DISSATISFACTION WITH YOUR USE OF THE SITE IS TO STOP USING THE SITE.
**You will be responsible for any liability to Excela that arises out of your breach of this User Agreement or your use of the Site**
* Except to the extent prohibited by law (or not permitted without legislative approval), you agree to indemnify and hold harmless Excela and its affiliates, agents, employees and third party sources from and against any and all suits, losses, claims, demands, liabilities, damages, costs and expenses (including reasonable attorneys’ fees) that arise from or relate to:
  + Your use of the Site,
  + Your breach of this User Agreement or any representation, warranty or covenant made by you in this User Agreement,
  + Your violation of any applicable law, statute, ordinance, regulation or of any third party’s rights, or
  + Claims asserted by third parties which, if proven, would place you in breach of representations, warranties, covenants or other provisions contained in this User Agreement.
**You will be bound by revised versions of this User Agreement that Excela posts on the Site**
* Your use of the Site indicates your full acceptance of this User Agreement in its then-current form, including any modifications thereto, each time you use the Site.
**United States and New York law govern this User Agreement**
* These terms and your use of the Site shall be governed by the laws of the United States of America and the State of New York without regard to its conflicts of laws principles. Any legal action or proceeding related to this Site shall be brought exclusively in a federal or state court of competent jurisdiction sitting in New York. Each party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action or proceeding relating to this User Agreement.
**You are bound by certain other general conditions**
* Excela may assign this User Agreement in whole or in part at any time without your consent. You may not assign this User Agreement or delegate any of your obligations under this User Agreement. Any purported assignment of this User Agreement in violation of its terms is void
* If any provision of these terms shall be deemed unlawful, void or for any reason unenforceable, then that provision shall be deemed severable from these terms and shall not affect the validity and enforceability of any remaining provisions. Excela reserves the right to alter or delete materials from this Site at any time at its discretion.
* This User Agreement constitutes the entire understanding, and supersedes all other understandings, between you and Excela concerning the subject matter hereof.
**ELECTRONIC SIGNATURE**
* THE ABOVE DISCLOSURES SHOULD BE CAREFULLY READ, UNDERSTOOD AND ACCEPTED BY YOU BEFORE YOU ACCEPT THE TERMS OF THIS USER AGREEMENT.
* ACCESSING OR USING THE SITE IS THE EQUIVALENT OF YOU MANUALLY SIGNING THIS USER AGREEMENT AND, BY DOING SO, YOU LEGALLY BIND YOURSELF TO THE TERMS AND CONDITIONS CONTAINED HEREIN.
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