Terms and Conditions of Use

Thank you for visiting this website, provided to you solely for informational purposes by Providence Equity Partners L.L.C. ("Providence").

By using this website (together with any other websites maintained by Providence that may be accessed through this website, including any password-protected areas, this “Website”), you agree to abide by these terms and conditions (the “Terms and Conditions of Use”). If you do not agree to abide by these Terms and Conditions of Use, you agree that your sole and exclusive remedy is to discontinue using this Website. Your compliance with these Terms and Conditions of Use and any Other Agreements (as defined below) is a condition to your right to access this Website. Your breach of any provision of these terms of use or other agreements will automatically, without the requirement of notice or other action, revoke and terminate your right to access the site and you will be fully liable for conversion, misappropriation, trespass to chattels and all other claims and causes, regardless of the identity of claimant or injured party, arising from or relating to your continued use of the Website after such breach. Providence reserves the right, in its sole discretion, to change, modify, add or remove any portion of this Website, including the Terms and Conditions of Use, in whole or in part, at any time, without prior notice to you. Changes will be effective when posted. For this reason, each time you use the Website, you should visit and review the then current Terms and Conditions of Use that apply to your use of the Website. The date of the last revision or update appears at the top of the Terms and Conditions of Use under the title. Nothing contained in these Terms and Conditions of Use is intended to modify or amend any other written agreement you may have with Providence (including without limitation any customer agreement, participation agreement or account agreement) (“Other Agreements”) if any, that may currently be in effect. In the event of any inconsistency between these Terms and Conditions of Use and any Other Agreements, the Other Agreements will govern. To the extent these Terms and Conditions of Use conflict with the terms and conditions of use relating to any password-protected area of this Website, the more specific terms and conditions of use relating to such password-protected area shall control.

Use of the Website

All materials, including but not limited to images, text, data, illustrations, designs, icons, photographs, programs, downloads, services and content (each “Content” and collectively, the “Contents”) that are part of the Website are intended solely for personal, non-commercial use. Providence authorizes you to view and access a single copy of the Content available on this Website for your own use. You are not permitted to reproduce, publish, transmit, distribute, display, modify, create derivative works from, sell or participate in any sale of or exploit in any way, in whole or in part, any such Content for commercial use. Please be advised that Providence may record certain usage information, such as the number and frequency of visitors to this Website.

Linked Sites

This Website may provide links to websites operated by other entities. In addition, third-party sites may be linked to this Website, with or without Providence’s consent. Providence makes no warranty or representation regarding, does not endorse, and does not accept any responsibility for, any websites linked to or from this Website or the information appearing thereon or any of the products or services described thereon.

Intellectual Property

“Providence Equity” is a registered trademark of Providence Equity Partners Inc. All trademarks and all logos and copyrighted materials displayed on this Website, other than those of Providence, are the property of their respective owners, who may or may not be affiliated with Providence. Access to this Website does not confer any license under any of Providence’s or any third party’s intellectual property rights or otherwise authorize anyone to use any trademark or logo.

No Offers or Advice/Forward-Looking Statements/Historical Information

The information and services provided on this Website are for your informational purposes only. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Providence or any company in which Providence or its affiliates have invested. Nothing contained herein constitutes professional, tax or financial advice nor does any information contained herein constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. Any decision to invest or take any other action with respect to the securities or investments discussed in this commentary may involve risks not discussed herein and no such decisions should be made based on the information contained herein. It should not be assumed that any securities or investments discussed in this commentary will increase in value. While Providence uses reasonable efforts to obtain information from sources believed to be reliable, Providence does not independently verify the accuracy of such information and makes no representation that the information or opinions contained in the Website are accurate, reliable or complete. You are solely responsible for evaluating the risks and merits regarding use of the Website and should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date of this Website’s publication. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Providence undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Any transactions described on the Website as having been engaged in by Providence are included as representative transactions and are not necessarily reflective of overall results of any of Providence’s businesses. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. This commentary has not been reviewed or approved by any regulatory authority and has been prepared without regard to the individual financial circumstances or objectives of persons who may receive it. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. No representation is being made as to the suitability of any investment.

Compliance with Applicable Law

Unless otherwise expressly set forth herein, Providence makes no representation that materials on this Website are appropriate or available for use in any particular location. If it is illegal or prohibited in your country of origin to access or use this Website, then you should not do so. Those who choose to access this Website do so on their own initiative and are responsible for compliance with local laws. In the U.K. this website is issued by Providence Equity LLP, which is authorized and regulated by the Financial Conduct Authority (the “FCA”). In the U.K., this website is directed only at professional clients and eligible counterparties, as defined by the FCA (together “Relevant Persons”). The Content of this website must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this website relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

Password and Security Notification

Certain additional information and services available on this Website may be accessible to you only if you have been provided with a Username and Password (“Password User”). Use of such additional information and services shall be subject to additional terms and conditions. You, as a Password User, are solely responsible for (1) maintaining the confidentiality of the password and user ID and (2) all activities that occur by users of the password and user ID. The Password User shall immediately notify Providence of any loss or theft of the password, or if the confidentiality of the password has otherwise been compromised in any way. Providence will not be responsible or liable for any loss, expense or damage arising in any way from use of the password and user ID and/or the accessing of information or materials therewith.

Disclaimer and Indemnity

This website and the information and materials on this website are provided “as is” and without warranties or representations of any kind either expressed or implied and Providence and its affiliates disclaim all warranties, expressed or implied, including but not limited to, implied warranties of merchantability and fitness for a particular purpose. Providence does not warrant the accuracy, completeness, reliability, availability at all times or timeliness of any information on this website or that this website will operate “error free.” In no event shall Providence or its affiliates, or any of their respective partners, stockholders, members, managers, officers, directors, employees, agents, funds and such funds’ limited partners (collectively, the “Providence Parties”), be responsible for any damages, liabilities or injury, including indirect, incidental, special, punitive, multiple, consequential or other damages, however caused or arising out of your use of (or inability to use) this website. If your use of this Website gives rise to any third party claim against you or any Providence Party, you agree to (i) indemnify and hold harmless the Providence Parties with respect to any such claim, (ii) release the Providence Parties from any such claim and (iii) waive all laws that may limit the efficacy of such release.

Limitation of Liability

To the maximum extent permitted by law, Providence disclaims all liability arising out of your use of the Website and Providence’s liability is limited even if Providence has been advised of the possibility of the damages, liability or injury that you suffer, including any damages, defect, interruption, delay in operation, computer virus, line failure or other computer malfunction.

Governing Law

These Terms and Conditions of Use shall be governed by the laws of the State of Delaware, without giving effect to its conflict of laws provisions. Any dispute relating to these Terms and Conditions of Use shall be brought solely in the state or federal courts located in Delaware and you agree that such courts shall have jurisdiction over you in connection with any such dispute. You must commence any cause of action you may have with respect to your use of this Website within one year after the claim or cause of action arises. If, for any reason, a court of competent jurisdiction finds any provision in these Terms and Conditions of Use to be unenforceable, such provision shall be enforced to the maximum extent permissible so as to effect the intent of these Terms and Conditions of Use, and the remainder of these Terms and Conditions of Use shall continue in full force and effect. The failure of Providence to act with respect to a breach of these Terms and Conditions of Use by you or others does not constitute a waiver and will not limit Providence’s rights with respect to such breach or any subsequent breaches.

Arbitration

By using this Website, you agree that Providence, at its sole discretion, to the maximum extent permitted by applicable law, may require you to submit any disputes arising from the use of this Website, related services or these Terms and Conditions of Use, including disputes arising from or concerning their interpretation, violation, nullity, invalidity, non-performance or termination, as well as disputes about filling gaps in this contract or its adaptation to newly arisen circumstances, to final and binding arbitration under the International Rules of Arbitration of the American Arbitration Association (the “Rules”), by one or more arbitrators appointed in accordance with the said Rules. Notwithstanding these Rules, however, such proceeding shall be governed by the laws of the state as set forth above.