Terms and Conditions
THESE TERMS AND CONDITIONS (the “Agreement”) is made as of the date you accepted them on our website (the “Effective Date”), by and between Mighty Digits, LLC (the “Company”), and you (and the company or entity that you represent, collectively “You”, and “Your”, as applicable), (Company and You are each, a “Party” and together, the “Parties”).
PLEASE READ THESE TERMS CAREFULLY BEFORE ACCESSING AND USING THE APPLICATION OR PROVIDING THE COMPANY ANY DATA, BECAUSE BY USING THE APPLICATION, CLICKING “I AGREE,” OR OTHERWISE MANIFESTING YOUR ASSENT TO THIS AGREEMENT, YOU AGREE TO BE BOUND BY THESE TERMS. IF YOU DO NOT AGREE TO (OR CANNOT COMPLY WITH) ALL OF THE TERMS OF THIS AGREEMENT, DO NOT ACCESS OR USE THE APPLICATION OR PROVIDE THE COMPANY ANY DATA.
W I T N E S S E T H :
WHEREAS, in connection with Your use of Company’s application for the provision of automated financial modeling services, each Party may be providing Confidential Information (as defined below) to the other Party; and
WHEREAS, each Party considers its Confidential Information to be proprietary and/or confidential and requires certain assurances from the other Party as a condition of furnishing the Confidential Information to it;
NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Parties hereto hereby agree as follows.
SECTION 1. Definition of Confidential Information. “Confidential Information” means nonpublic information revealed by or through a Party (whether in writing, orally or by another means) (the “Disclosing Party”) to the other Party (the “Recipient”) including, without limitation, (i) either the fact that discussions or negotiations are taking place concerning a possible transaction between the Parties or any of the terms, conditions or other facts with respect to any such possible transaction, including the status thereof; (ii) information expressly or implicitly marked or disclosed as confidential, including, without limitation, all forms and types of financial, business, scientific, technical, economic, or engineering information including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, programs or codes, whether tangible or intangible, and whether or how stored, compiled, or memorialized physically, electronically, graphically, photographically, or in writing; (iii) information traditionally recognized as proprietary trade secrets; and (iv) all copies of any of the foregoing or any analyses, studies or reports that contain, are based on, or reflect any of the foregoing. For the avoidance of doubt, as between You and the Company, Company’s application, its source code, and all intellectual property associated with it shall remain Company’s Confidential Information; and the data that You submit to Company via the application shall remain Your Confidential Information.
SECTION 2. Confidentiality. At all times the Recipient shall protect and preserve the Confidential Information as confidential, using no less care than that with which it protects and preserves its own highly confidential and proprietary information (but in no event less than a reasonable degree of care), and shall not use the Confidential Information for any purpose except (i) in the case of Company, to provide the automated financial modeling services offered on Company’s website, and to derive anonymized, aggregated versions of Your data in combination with the data provided by other user’s of Company’s application; and (ii) in Your case, to provide Your data to the Company and to receive and utilize the automated financial models provided by Company back to You ((i) and (ii) collectively, the “Limited Purpose”). The Recipient may disclose, distribute or disseminate the Confidential Information to any of its officers, directors, members, managers, partners, employees, agents or other persons (its “Representatives”) provided that the Recipient reasonably believes that those Representatives have a need to know and such Representatives are bound by confidentiality obligations at least as restrictive as those contained herein. The Recipient shall not disclose, distribute or disseminate the Confidential Information to any third party without the prior written consent of the Disclosing Party. The Recipient shall at all times remain responsible for any violations of this Agreement by any of its Representatives.
SECTION 3. Return of Confidential Information. Promptly following the request of the Disclosing Party, the Recipient and its Representatives shall return to the Disclosing Party, or, at the Disclosing Party’s option, destroy all materials that are in written, electronic or other tangible form (including, without limitation, all written or printed documents, notes, memoranda, email, computer disks or tapes (whether machine or user readable), or computer memory, whether or not prepared by Recipient) that contain, summarize or abstract any portion of the Confidential Information, including, without limitation, all copies, extracts and derivations of such materials. In addition, upon the request of the Disclosing Party, the Recipient shall certify to the Disclosing Party in writing the Recipient’s and its Representatives’ compliance with its obligations pursuant to this Section 3.
SECTION 4. Ownership of Confidential Information. The Recipient acknowledges and agrees that, as between the Recipient and the Disclosing Party, the Confidential Information, together with all intellectual property rights embodied therein (including, but not limited to, all patent rights, inventions (whether patentable or not), concepts, ideas, algorithms, formulae, processes, methods, techniques, copyrights, copyrightable works, trade secrets, know-how, and trademarks), are the sole and exclusive property of the Disclosing Party. The Disclosing Party shall retain all right and title to all proprietary rights in the Confidential Information and to any other intellectual property owned or otherwise provided by the Disclosing Party. The Disclosing Party hereby grants to the Recipient, a limited, royalty-free, and freely revocable license to use the Confidential Information provided to it for the Limited Purpose. The Recipient shall not have the right to use the intellectual property rights embodied in the Confidential Information for any purpose other than the Limited Purpose.
SECTION 5. Exclusions from the Definition of “Confidential Information”. The term “Confidential Information” does not include information which: (a) is or becomes generally available to the public other than as a result of disclosure by the Recipient or its Representatives (or any person to whom the Recipient or its Representatives disclosed such information); (b) was known by the Recipient prior to its disclosure by the Disclosing Party; (c) was independently developed by Recipient without use of the Confidential Information; or (d) becomes available to the Recipient on a non-confidential basis from a source other than the Disclosing Party, provided that such source is not bound by a confidentiality agreement, confidentiality obligation or fiduciary duty which prohibits disclosure and the Recipient has no reason to believe that such source may be restricted from making such disclosure.
SECTION 6. Compelled Disclosure. In the event the Recipient becomes or may become legally compelled to disclose any Confidential Information (whether by deposition, interrogatory, request for documents, subpoena, civil investigative demand or other process or otherwise), the Recipient shall provide to the Disclosing Party prompt prior written notice of such requirement so that the Disclosing Party may seek a protective order or other appropriate remedy and/or waive compliance with the terms of this Agreement. In the event that such protective order or other remedy is not obtained, or that the Disclosing Party waives compliance with the provisions hereof, the Recipient shall furnish only that portion of the Confidential Information which it is advised by counsel is legally required to be disclosed, and shall use its best efforts to insure that confidential treatment shall be afforded such disclosed portion of the Confidential Information.
SECTION 7. Specific Performance and Injunctive Relief. The Recipient acknowledges that in the event of a breach of this Agreement by the Recipient or its Representatives, substantial injury could result to the Disclosing Party and money damages will not be a sufficient remedy for such breach. Therefore, in the event that the Recipient or its Representatives engage in, or threaten to engage in any act which violates any provision of this Agreement, the Disclosing Party shall be entitled, in addition to all other remedies which may be available to it under law, to injunctive relief (including, without limitation, temporary restraining orders, or preliminary or permanent injunctions) and specific enforcement of the terms of this Agreement. The Disclosing Party shall not be required to post a bond or other security in connection with the granting of any such relief.
SECTION 8. No Other Warranties or Licenses; No Reverse Engineering; Limitation of Liability. Other than as provided herein, the Confidential Information and the Company’s application are provided “as is” and “as-available”, and each Disclosing Party makes no representations or warranties, express or implied, with respect to the Confidential Information and shall have no liability to the Recipient or any other person or entity for any reliance upon the Confidential Information by the Recipient or such other person or entity. THE DISCLOSING PARTY SPECIFICALLY DISCLAIMS ALL WARRANTIES OF ANY KIND TO THE RECIPIENT, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT AND THOSE WARRANTIES ARISING FROM A COURSE OF PERFORMANCE, A COURSE OF DEALING OR TRADE USAGE. Nothing contained herein shall be construed, either expressly or implicitly, to grant to the Recipient any rights to technology or license under any patent, copyright, trademark or other intellectual property right, now or hereinafter in existence, except for the Limited Purpose. The Recipient shall not (i) alter, maintain, enhance or otherwise modify any software included within the Confidential Information; (ii) disassemble, decompile or reverse-engineer any such software; nor (iii) otherwise take action to discover the equivalent of any such software. IN CONNECTION WITH ANY WARRANTY, CONTRACT, OR COMMON LAW TORT CLAIMS: (I) THE COMPANY SHALL NOT BE LIABLE FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS, DAMAGES RESULTING FROM LOST DATA, BUSINESS INTERRUPTION, OR LOSS OF ANY KIND ARISING OUT OF USE OR INABILITY TO ACCESS AND USE THE APPLICATION OR ANY FINANCIAL MODELS PROVIDED TO YOU, EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES; AND (II) ANY DIRECT DAMAGES, NOT ATTRIBUTABLE TO PERSONAL INJURIES, THAT YOU MAY SUFFER AS A RESULT OF YOUR USE OF THE APPLICATION OR THE FINANCIAL MODELS SHALL BE LIMITED TO ONE HUNDRED UNITED STATES DOLLARS (US $100). SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR LIMITATION OF CERTAIN LIABILITIES. THEREFORE, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. NOTHING IN THIS AGREEMENT SHALL AFFECT ANY NON-WAIVABLE STATUTORY RIGHTS THAT APPLY TO YOU. ADDITIONALLY, THE APPLICATION AND ANY FINANCIAL MODELS PROVIDED TO YOU BY THE COMPANY ARE INTENDED FOR YOU TO EVALUATE THE COMPANY’S APPLICATION ONLY AND ARE NOT GAAP ASSURED, THE COMPANY IS NOT A CERTIFIED PUBLIC ACCOUNTING FIRM, AND THE COMPANY EXPRESSLY DISCLAIMS ANY RELIANCE BY YOU ON THE APPLICATION OR FINANCIAL MODELS BEING COMPLIANT WITH GAAP OR ANY OTHER ACCOUNTING STANDARDS, OR BEING ANY FINANCIAL ADVICE. YOU SHALL INDEMNIFY AND DEFEND THE COMPANY FROM AND AGAINST ANY CLAIMS ASSERTED AGAINST THE COMPANY ARISING OUT OF YOUR RELIANCE ON THE APPLICATION OR ANY FINANCIAL MODELS PROVIDED TO YOU BY THE COMPANY.
SECTION 9. Term and Termination. This Agreement will continue in effect until terminated by either Party upon fifteen (15) days’ written notice. In the event of termination of this Agreement, the Recipient shall continue to hold the Confidential Information in strict confidence as set forth herein for ten (10) years from the date of termination, except with regard to trade secrets of the Disclosing Party, which shall be held in confidence for as long as such information remains a trade secret.
SECTION 10. Governing Law; Jurisdiction and Venue. This Agreement, and all matters arising directly or indirectly from this Agreement, shall be governed by and construed in accordance with the laws of the state of New York, without regard to its conflict of laws rules applicable to contracts to be performed entirely within the state of New York.
SECTION 11. Entire Agreement; No Assignment; Modification and Waiver. This Agreement constitutes the entire agreement of the Parties with respect to the subject matter hereof and supersedes any and all existing or prior agreements and communications, whether written or oral, relating to the subject matter hereof. This Agreement may not be assigned or transferred without the prior written consent of the other Party; provided, however, the Company may assign or transfer the Agreement in connection with a sale of the Company, change of control transaction, or other deemed liquidation event, or without the consent of the other Party. No modification of this Agreement shall be effective unless it is in writing and signed by an authorized representative of each Party.
SECTION 12. Severability. The illegality, invalidity, or unenforceability of such provision shall not in any manner affect or render illegal, invalid or unenforceable any other provision of this Agreement, and that provision, and this Agreement generally, shall be reformed, construed and enforced so as to most nearly give lawful effect to the intent of the parties as expressed in this Agreement.
SECTION 13. Counterparts. This Agreement may be executed in counterparts (which may be exchanged by facsimile), each of which shall be deemed an original, but which together shall constitute one and the same instrument.
SECTION 14. Assent. YOU HEREBY ACKNOWLEDGE THAT YOU HAVE READ THIS AGREEMENT, UNDERSTAND THESE TERMS, AND AGREE TO BE BOUND BY THEM. IF YOU ARE ENTERING THIS AGREEMENT ON BEHALF OF AN ENTITY, YOU REPRESENT AND WARRANT THAT YOU HAVE THE RIGHT AND AUTHORITY TO LEGALLY BIND THE ENTITY TO THIS AGREEMENT.