Value Line, Inc., and its affiliates (collectively, “Value
Line”) provide a variety of products, services and data that may be made
available through the web sites (like www.valueline.com and
www.valuelinepro.com), software tools, printed publications, like The Value Line Investment Survey, and
other means (collectively, “Value Line Services”). THE TERMS OF THIS AGREEMENT GOVERN YOUR
ACCESS TO AND USE OF THE VALUE LINE SERVICES AND THEIR CONTENT, INCLUDING BUT
NOT LIMITED TO, THE DATA, RANKING SYSTEMS AND SOFTWARE PROVIDED WITHIN THE
VALUE LINE SERVICES.
COMPLIANCE WITH THESE TERMS AND CONDITIONS AND ALL OTHER AGREEMENTS IS A
CONDITION TO YOUR RIGHT TO ACCESS AND USE THE VALUE LINE SERVICES. YOUR BREACH OF ANY PROVISION OF THESE TERMS
AND CONDITIONS OR OTHER AGREEMENTS WILL AUTOMATICALLY, WITHOUT THE REQUIREMENT
OF NOTICE OR OTHER ACTION, REVOKE AND TERMINATE YOUR RIGHT TO ACCESS THE VALUE
LINE SERVICES AND YOU WILL BE FULLY LIABLE FOR CLAIMS AND CAUSES ARISING FROM
OR RELATING TO YOUR CONTINUED USE OF THE SITE AFTER SUCH BREACH.
UNAUTHORIZED USE OF THE VALUE LINE SERVICES, INCLUDING BUT NOT
LIMITED TO MISUSE OF PASSWORDS OR POSTED INFORMATION, IS STRICTLY PROHIBITED.
1- Use Content At
User’s Own Risk. The Value Line Services include a variety of information
and tools, including certain rankings, financial information and explanatory
information related to publicly traded equities and investment vehicles,
including common stock, options, convertibles, bonds and mutual funds, as well
as other content, software, media, and services (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.
2 - No
Warranty. The Value Line Services
and all Content are provided "as is" and on an "as
available" basis without warranties of any kind, either expressed or
implied, including without limitation warranties of merchantability or fitness
for a particular purpose. Neither Value
Line nor any of its Licensors(1),
suppliers, vendors warrants that the Value Line Services and Content will be
accurate, complete, uninterrupted, error free or free of viruses, worms, or
other harmful components.
3 - Limitation of
Liability. Under no circumstances
shall Value Line, its Licensors, suppliers, vendors, agents and its officers,
directors, employees be liable for any direct, indirect, incidental, special,
punitive or consequential damages that result in any way from your use of any
Value Line Services, your use, non-use or reliance upon the Content, or that
result from mistakes, omissions, interruptions or deletions of files, errors or
defects in the Value Line Services or Content, delays in operation,
transmission or failure of performance, whether or not such damages might have
been foreseeable. If you are
dissatisfied with any of the Value Line Services or Content, or with any of the
terms and conditions, your sole and exclusive remedy is to discontinue using
the Web Site(s).
and Other Distribution Prohibited. The Value Line Services and Content is
provided only for personal use by one non-professional client or for professional
use by one Professional Client(2). All forms of sub-licensing, reselling,
republication or other form of distribution, including internet posting,
electronic mailing, faxing, archiving in a public database, redistributing via
a computer network, or in a printed form, to other parties of any Value Line
Services or Content, including username and password information, are strictly
5 - Value Line
Investment Survey. Officers,
directors and employees of Value Line, and EULAV Asset Management (“EULAV”),
may hold stocks that are reviewed or recommended in the Value Line
Services. EULAV also manages investment
companies and other accounts that use the rankings and recommendations the
Value Line Services. 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. 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.
6 - Ownership of
Materials on Website. Value Line and
its Licensors, suppliers, and assignees, are the sole and exclusive owners of
all right, title and interest, including trademarks, copyrights, patents, trade
names, trade secrets and other intellectual property rights, in the
Content. All rights are reserved. You may make one offline copy of the Content
for your own personal use; however, you may not otherwise copy, modify, adapt,
reproduce, republish, download, translate, reverse engineer, decompile,
disassemble, distribute, sublicense, assign or use any aspect of the Value Line
Services or Content except as expressly provided in this agreement. Value Line, the Value Line Logo, The Most
Trusted Name in Investment Research, The Value Line Investment Survey, “Smart
research. Smarter investing.”, Value Line Select, The Value Line Special
Situations Service, Timeliness and Safety are trademarks or registered
trademarks of Value Line, Inc. and/or its affiliates in the United States and
other countries (“Value Line Trademarks”).
All other brands and names are the property of their respective
owners. You may not use, adopt or
attempt to register anywhere in the world, whether alone or together with any
other mark, symbol, or name, any trade name or mark or service name or mark
that is similar or confusingly similar to the Value Line Trademarks.
7 - Governing
Law. This agreement shall for all
purposes be governed, interpreted, construed and enforced solely and
exclusively in accordance with the law of the State of New York, USA (excluding
its law of conflict of laws). You hereby
agree that the courts located in the State and County of New York, USA shall
constitute the sole and exclusive forum for the resolution of any and all
disputes arising out of or relating to this agreement or its subject matter and
you hereby consent to the jurisdiction and venue of such courts and irrevocably
waive any objections thereto, including on grounds of forum non conveniens. You agree to comply with all applicable laws,
including those regarding the accessing and exporting of data.
8 -Limited Right to
Use. Value Line grants you a limited
right to use the Value Line Services and Content. Your right to use the Value Line Services and
Content is subject to your agreement to abide by these Terms and Conditions.
Value Line may deny you access to all or part of the Value Line Services or
Content 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
9 -Indemnification. You agree to defend, indemnify and hold
Value Line, Inc., its affiliates, their suppliers, Licensors, contractors and
agents, and their respective officers, directors, shareholders, and employees
harmless from any and all claims (including, but not limited to, claims for
defamation, trade disparagement, privacy and intellectual property
infringement), damages, liabilities, costs and expenses, including reasonable
attorneys’ fees, arising from or related to (a) any violation of this agreement
or any use of the Value Line Services and Content by you or authorized users of
your account, or (b) Value Line’s use of any content or information you
10 - User’s
Representations and Warranties. You
represent and warrant that: (i) you have full authority and all rights
necessary to enter into and fully perform all of your obligations pursuant to
these Terms and Conditions; (ii) you have not and you will not enter into any
agreement or perform any act which might contravene the purposes and/or effects
of these Terms and Conditions; (iii) your use of the Value Line Services and
Content is in compliance with law; and (iv) you will not interfere with or
delete any Value Line Services and Content.
11 - Severability. 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.
12 - Waiver. Value Line’s failure to insist upon or enforce
strict performance of any provision of this agreement shall not be construed as
a waiver of any provision or right.
Neither the course of conduct between parties nor trade practice shall
act to modify any provision of this agreement. The failure of Value Line to act
with respect to a breach of these Terms by you or others does not constitute a
waiver and will not limit Value Line’s rights with respect to such breach or
any subsequent breaches.
13 - Third Party Websites. 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.
14 - Web Site
Security. Value Line makes no
warranty whatsoever to you, express or implied, regarding the security of the
Value Line Services, including with respect to the ability of unauthorized
persons to intercept or access information transmitted by you through this
You may not violate or
attempt to violate the security of the Value Line Services. Tampering with any portion of the Value Line
Services, providing untruthful or inaccurate information, misrepresenting your
identity, or conducting fraudulent activities on the Value Line Services,
whether or not through the use of agents, are prohibited and constitute a
breach of these Terms and Conditions. You are prohibited from violating or
attempting to violate the security of the Value Line Services, including,
without limitation, (a) accessing data not intended for you or logging onto a
server or an account which you are not authorized to access; (b) disabling,
removing, defeating, or avoiding any security device or system, including,
without limitation, any password and login functionality used to authenticate
users; (c) attempting to probe, scan or test the vulnerability of a system or
network or to breach security or authentication measures without proper
authorization; (d) attempting to interfere with service to any user, host or
network, including, without limitation, via means of submitting a virus to any
Value Line Services, overloading, "flooding," "spamming,"
"mailbombing" or "crashing;" (e) sending unsolicited email,
including promotions and/or advertising of products or services; (f) forging
any TCP/IP packet header or any part of the header information in any email or
posting; (g) using or attempting to use any engine, software, tool, agent or
other device or mechanism (including, without limitation, browsers, spiders,
robots, avatars or intelligent agents) to navigate or search the Value Line
Services other than the search engine and search agents available within the
Value Line Services and other than generally available third party web
browsers; (h) reverse engineering, decompiling or disassembling the underlying
software; (i) removing any notices, warnings, labels, annotations or
instructions from any portion of the Value Line Services and Content or any
related material, including, without limitation, any patent, trademark,
copyright, or other proprietary notices or license provisions; or (j) otherwise
invading the privacy of, obtaining the identity of, or obtaining any personal
information about any user of the Value Line Services.
Any violations of
system or network security including attempts to intentionally access a
computer without authorization or exceed your authorized access level may be a
violation of law. Value Line may investigate occurrences that might involve
such violations and may involve, and cooperate with, law enforcement
authorities in prosecuting users who are involved in such violations. We may, without prior notice or warning of
any kind, restrict or terminate the access of any and all users to the Value
Line Services if we reasonably conclude that such restriction or termination is
necessary to prevent, or prevent the further spread of, a virus, security
breach or system malfunction.
15 - Services Availability.
Value Line strives to keep the Value
Line Services 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.
16 - Updates. Value Line may modify the Value Line Services
and Content 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 Value Line Services after changes are made to this
Agreement. Value Line makes no guarantee
that the Content offered through any Value Line Services will remain available
for any specific period of time.
17 - Fees and
Charges. You agree to pay the
subscription fees and any other charges incurred in connection with your user
name and password (including any applicable taxes) at the rates in effect when
the charges were incurred. Subscription
fees will be billed at the beginning of your subscription or any renewal. Unless we state in writing otherwise, all fees
and charges are nonrefundable. We may
change the fees and charges then in effect, or add new fees or charges, by
giving you notice in advance.
18 - Privacy. Any use of the Value Line Services is governed
reference. Your use of the Value Line Services constitutes your confirmation
and agree that the use and storage of any information available through use of
the Value Line Services is at your sole risk and responsibility. Registration data
and other personal information about you are subject to our Privacy
Policy. If you access a Service using a
password, you are solely responsible for maintaining the confidentiality of
that password. You agree to notify us
promptly if you change your address or email so we can continue to contact you
and send any notices required hereunder.
If you fail to notify us promptly of a change, then any notice we send
to your old address or email shall be deemed sufficient notice.
19 - Value Line
Arithmetic & Geometric Indices.
Value Line Arithmetic & Geometric Indices is calculated by Thomson
Reuters, and information is supplied by Thomson Reuters.
(2)It is Value Line's policy that individuals who are affiliated with firms
registered as brokers or investment advisors with the SEC and/or FINRA or are
Financial Planners, CPA's, Legal Counsel, academic entities, or offer life
insurance products or annuities or are affiliated with banks, trust
institutions, government agencies or the representatives of government
agencies, or are using Value Line research for commercial purposes are
considered Professional Clients and must have a Professional subscription.
Each professional individual requiring online access to our research must have
their own license.
(1)Licensors include but not limited to TSX Inc., and Standard & Poor’s
Financial Services LLC and its affiliates and third-party licensors.