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1. Value Line provides, through the Web Sites certain Value Line rankings related to companies whose securities are publicly traded, certain articles, explanatory text, product information, photographs, video, audio, graphics, software, services and other information (collectively, the "Content"). Your use of the Content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the Content.
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5. Officers, directors and employees of Value Line, and EULAV Asset Management (“EULAV”), may hold stocks that are reviewed or recommended in this publication. EULAV also manages investment companies and other accounts that use the rankings and recommendations in this publication as part of their investment strategies. These accounts, as well as the officers, directors, and employees of Value Line, may dispose of a security notwithstanding the fact that The Value Line Investment Survey ("The Survey") ranks the issuer favorably; conversely, such accounts or persons may purchase or hold a security that is poorly ranked by The Survey. Some of the investment companies managed by EULAV only hold securities with a specified minimum Timeliness Rank by the Survey and dispose of those positions when the Timeliness Rank declines or is suspended. Subscribers to the Survey and its related publications as well as some institutional customers of Value Line will have access to the entire Survey at 8:00 A.M. Eastern time each Monday (or the next business day after a Monday when the New York Stock Exchange is closed). Portfolio managers for EULAV will receive information on Timeliness Ranks at the same time. Additional rank-related information is made available internally. Value Line’s portfolio managers also may have access to publicly available information that may ultimately result in or influence a change in rankings or recommendations, such as earnings releases, changes in market value or disclosure of corporate transactions. The investment companies or accounts may trade upon such information prior to a change in a ranking. While the rankings in the Survey are intended to be predictive of future relative performance of an issuer's securities, the Survey is not intended to constitute a recommendation of any specific security. Any investment decision with respect to any issuer covered by the Survey should be made as part of a diversified portfolio of equity securities and in light of an investor's particular investment objectives and circumstances.
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8. Value Line may deny you access to all or part of this service without notice if you engage in any conduct or activities that Value Line, in its sole discretion, believes violates applicable law or any term of this agreement.
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10. In the event that any portion of this agreement is held to be unenforceable, the unenforceable portion shall be construed in accordance with applicable laws as nearly as possible to reflect the original intentions of the parties and the remainder of the provisions shall remain in full force and effect.
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12. Factual material is obtained from sources believed to be reliable, but Value Line is not responsible for any errors or omissions, or for the results of actions taken based on Content contained herein. Value Line does not guarantee the accuracy of the Content provided on the Web Sites, including but not limited to text, graphics or links. The Content of the Web Sites has been prepared for informational purposes only without regard to any particular user's investment objectives, financial situation, or means. Nothing herein should be construed as an offer to buy or sell, or the solicitation of an offer to buy or sell securities, financial product, or instrument or as an investment advice.
13. The Web Sites may contain electronic hyperlinks to other third-party web sites. Value Line offers these hyperlinks as an accommodation to you and other users, but does not make any representations with respect to the accuracy, quality or suitability of the content provided on web sites located through such hyperlinks, nor are we responsible for the practices of such other sites and sponsoring companies. When you leave our Web Sites by means of a hyperlink, you are subjecting yourself to policies and practices employed by the operators of the other web sites.
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15. Value Line strives to keep the Web Sites available on a continuous basis. You acknowledge that the Web Sites may be occasionally unavailable due to such periodic maintenance or to other unexpected interruptions, and Value Line is not responsible for inaccessibility during such downtimes. The Timeliness rank on a particular stock may be suspended in the event of news developments. Access to certain Content is subject to termination in the event that any agreement between Value Line and a provider of Content or software distributed through the Web Sites is terminated in accordance with its terms.
16. Value Line may modify the content of the Web Sites or this Agreement at any time by notifying you of the change in writing or electronically (including without limitation, by posting a notice on the Web Sites that the terms have been "updated"). You signify that you agree to be bound by such changes by using the Web Sites after changes are made to this Agreement. Value Line makes no guarantee that the Content offered on the Web Sites will remain available for any specific period of time.
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19. Value Line Arithmetic & Geometric Indices is calculated by Thomson Reuters, and information is supplied by Thomson Reuters.
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Updated: October 10, 2013