Terms of Use

General Provisions

  1. Scope of Agreement.  These terms and conditions (as amended by World Trade Securities from time to time, these “Terms”) govern your access to, and use of, this website portal, including the information, materials and functions contained or embodied therein (collectively, the “Site”).  These Terms are between (i) World Trade Securities L.P, together with its affiliates (collectively, “World Trade” or “we” or “our”), and (ii) you, the person(s) on whose behalf you are accessing the Site (such as an investor or prospective investor), and anyone authorized to access the Site on your behalf (collectively “you”).  These Terms constitute the entire understanding between you and World Trade Securities concerning the Site, except that nothing in these Terms is intended to supersede or abrogate any provision of a Fund’s constituent or governing documents or relevant subscription documents, or terms applicable to materials available on the Site.  These Terms do not govern the terms of any investment you may make or any other aspect of your relationship with World Trade Securities, beyond your use of or access to the Site.

  2. Compromise or Loss of Credentials.  You are responsible for ensuring the security and confidentiality of your login credentials, including not sharing those with any other person.  You shall immediately notify World Trade Securities at PartnerGroup@Worldtrade.com of any information or event that may compromise the security of the Site, including loss or compromise of your login credentials.  You accept full responsibility for any use of your login credentials.  World Trade Securities may suspend or revoke your access to and use of the Site at any time in its sole discretion.

  3. Privacy.  Information about how World Trade Securities processes your personal information in relation to the use of the Site is located in our privacy notice on the site, along with the Investor Privacy Policy posted in the document section of the Site, which are incorporated into and forms a part of these Terms.

Intellectual Property Rights and License

  1. World Trade Securities retains any and all intellectual property and other proprietary rights (including moral rights) in and to the Site, together with any and all upgrades, updates, enhancements, improvements, modifications and derivative works thereof.  The Site is protected by applicable copyright, trade dress, patent and trademark laws, international conventions and other laws protecting intellectual property and related proprietary rights.  Subject to your agreement and compliance with these Terms, World Trade Securities grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to access and use the Site strictly and solely for your private, non-commercial informational purposes only, and to print pages from the Site only in connection with that use.

  2. You shall not, nor shall you cause or permit any other party to: (i) modify, adapt, copy, alter, publish, print, disclose, download, translate or create derivative works of the Site; (ii) disable, disrupt, circumvent or otherwise interfere with any feature, functionality or control that prevents, restricts or otherwise governs access to, or use of, any aspect of the Site; (iii) build a product or service using similar ideas, features, functions or graphics of, or otherwise contained within, the Site; (iv) sublicense, resell, rent, lease, transfer or assign the Site or the use thereof, or to offer the Site on a time-share basis to any third party; (v) reverse engineer, decompile, decode or disassemble the Site (or any part thereof); (vi) attempt to derive the source code for the Site (or any part thereof) or  attempt to gain access to any underlying code used to implement or deploy the Site, or (vii) otherwise exploit or use the Site in any way except as strictly set forth in these Terms.

No Offer of Securities

  1. The Site (or your access or use thereof) does not constitute an offer to sell or a solicitation of an offer to buy any interest in any investment fund sponsored or managed by World Trade Securities (each, a “Fund”).  Any such offer or solicitation can and will be made only by means of the Confidential Offering Memorandum of each such Fund, only in jurisdictions in which such an offer would be lawful and only to individuals who meet the investor suitability and sophistication requirements of each such Fund, including qualifying as accredited investors within the meaning of the Securities Act of 1933, as amended.  Access to information about the Funds is similarly limited to individuals who meet the applicable investor suitability and sophistication requirements and also subject to the selling restrictions set out in the relevant Confidential Offering Memorandum.

Third-Party Content

  1. The Site may include services, general news and information, commentary, research and other data supplied by companies that are not affiliated with World Trade Securities (“Third Party Content”). World Trade Securities has not been involved in the preparation or editing of Third Party Content and does not explicitly or implicitly endorse or approve such content or services.  World Trade Securities does not guarantee the accuracy, timeliness, completeness or utility of Third Party Content, and World Trade Securities shall not be responsible or liable for any such content or services.  Your access to Third Party Content or other websites is at your own risk and is subject to their own privacy policies.

Important Disclosures and Disclaimers

  1. Review Everything Carefully and Completely.  The Site may contain performance information for the Funds.  An investment in the Funds may not be suitable to all investors, and World Trade Securities does not guarantee their performance.  The returns from such an investment may rise and fall and are not guaranteed, and investors may lose all or some of their initial capital invested.  There can be no assurance that any Fund will achieve its investment objective or avoid substantial losses, and performance may be volatile.  You acknowledge that past performance is not indicative of future results.

  2. No Reliance.  While World Trade Securities uses reasonable efforts to update the information contained in the Site, World Trade Securities makes no representations or warranties as to the accuracy, reliability or completeness of any information on the Site.  Any content on the Site is subject to change without notice.

  3. No Advice.  The Site is not intended to supply tax, legal, accounting or investment advice, and the materials (or any part of them) are not intended to be construed as a recommendation to invest in any Fund.  If you are in any doubt as to the matters or contents contained on the Site you should obtain independent professional advice.  By accepting these Terms, you acknowledge that the Site and any of its materials are for your private, non-commercial informational purposes only and that the use and interpretation of the Site and any of its materials require a specific and in-depth knowledge of the financial markets.

  4. Availability of the Site and Termination of Access.  World Trade Securities does not guarantee that the Site, and any feature thereof, will always be available.  Furthermore, World Trade Securities reserves the right to terminate your access to the Site or any portion thereof at any time without prior notice to you.

  5. Password Protected Areas.  Portions of the Site are password-protected and are accessible only to users who have been issued passwords by an authorized representative of World Trade Securities.  Passwords are issued only to current investors in a Fund, to prospective investors who are eligible to receive a Confidential Offering Memorandum for one or more of those Funds and such other parties approved by World Trade Securities.  Users of the Site acknowledge that information and materials on or available through the Site shall not be shared with any other person, without the prior consent of World Trade Securities.

  6. Confidentiality.  By accessing the Site, you agree that you will maintain as confidential all information, materials and functions contained or embodied therein, including information concerning World Trade Securities or the Funds (including all reports and notices received from World Trade Securities or a Fund).  You will not disclose such information to any person, except for information that is otherwise publicly available or required to be disclosed by law, and you will not use any such information in any manner which could reasonably be expected to be adverse to the best interests of World Trade Securities or any Fund.  You agree to use your best efforts to safeguard such information and to prevent unauthorized, negligent or inadvertent use or disclosure thereof.  You may, however, share such information with your investment advisers, beneficial owners, accountants and/or attorneys, provided that such other persons undertake: (a) to hold such information confidential to the same extent set forth in these Terms; and (b) not to use any such information in any manner which could reasonably be expected to be adverse to the best interests of World Trade Securities or any Fund.  For the avoidance of doubt, you may not provide information concerning World Trade Securities or the Funds to any third party, knowing that such third party may use such information in any form of printed, electronic or “on-line” publication, newsletter or circular, whether publicly or privately distributed.  For the avoidance of doubt, these obligations are in addition to any confidentiality obligations to which you may otherwise be subject.


Limitations of Liability and Release

  1. In no event will World Trade Securities be liable to you for any direct, indirect, consequential, exemplary, incidental, special, or punitive damages, including lost profits, arising out of or in connection with your use of or access to (or inability to use or access) the Site.  Some jurisdictions do not allow limitations of liability, so the foregoing limitation may not apply to you.  You will indemnify and hold World Trade Securities harmless from and against any claims brought against World Trade Securities as a result of your use of the Site or any misrepresentation or breach by you of any of the provisions of these Terms.

  2. California, USA, residents expressly agree to waive California Civil Code Sec. 1542, which states: “A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release, and that if known by him or her, would have materially affected his or her settlement with the debtor or released party.”

Miscellaneous Matters

  1. Governing Law and Forum.  These Terms shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without regard to its principles of conflicts of laws.  In the event of any dispute, claim, or controversy arising out of or relating to these Terms (collectively, a “Dispute”) that has not been resolved by the parties, either party may submit such Dispute to binding arbitration in New York, New York, at the offices of the American Arbitration Association and pursuant to its Commercial Arbitration Rules then in effect (and currently available at www.adr.org), or at such other location as the parties may agree.  The parties agree that, except as otherwise provided in these Terms, binding arbitration shall be the sole means of resolving any Dispute.  All costs related to the arbitration proceeding will be borne by the unsuccessful party and shall be awarded as part of the arbitrators’ decision, unless the arbitrators shall otherwise allocate such costs in such decision.

  2. United Kingdom/European Investors.  If you are domiciled or have a registered office in the United Kingdom or in a member state of the European Economic Area that has implemented the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) in a manner that imposes disclosure, reporting or other obligations on World Trade Securities, you or any other person or entity you represent initiated the discussion, correspondence or other communications with World Trade Securities or its agents, which resulted in your requesting access to the Site and the information regarding any investment funds sponsored or managed by World Trade Securities; none of World Trade Securities or its agents at any time directly or indirectly contacted you with respect to the provision of investment services or investment in any investment fund sponsored or managed by World Trade Securities prior to such unsolicited initiation of discussions, correspondence or other communications.

  3. Investors in the United Kingdom.  In relation to investors in the United Kingdom, access to the Site (and the contents herein) is being made only to, or directed only at: (i) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FP Order”) or Article 14 of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (the “PCISE Order”); (ii) high net-worth companies and certain other entities falling within Article 49 of the FP Order or Article 22 of the PCISE Order; or (iii) persons to whom access to this website may be provided pursuant to Section 4.12 of the Conduct of Business Sourcebook of the UK Financial Conduct Authority (together, “relevant UK persons”), and in each case only at their request or initiation.  Information on this website must not be acted or relied upon by persons who are not relevant UK persons.  Any investment or investment activity to which the information on the Site relates is available only to relevant UK persons and will be engaged in only with relevant UK persons.

  4. Right to Modify.  World Trade Securities reserves the right to modify, suspend or terminate operation of or access to the Site, any portion of the Site or any service, product or feature available on the Site for any reason, at any time and without notice.  Citadel reserves the right to amend these Terms at any time.  Each use of the Site constitutes (i) your agreement to be bound by the then-current Terms and (ii) your representation and warranty that you are duly authorized to be so bound.

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