Rational Investing

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You need to register to review the valuations and other research. Membership is free and entitles you to view html versions of many of our models on this site. To purchase our software, please write to manish.aurora@rationalinvesting.com. It is a desktop system that generates fully functional excel spreadsheets.

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RATIONALINVESTING.COM TERMS OF USE 
LICENSE AGREEMENT
This End-User License Agreement (�EULA�) is a legal agreement between you (either an individual or a single entity) and Rational Investing LLC (�RIL�) for the Rational Investingsm valuation system, which includes computer client software, server and web software on the site www.rationalinvesting.com and may include associated media, printed materials, and �online� or electronic documentation (�Product� or �Software�).  YOU AGREE TO BE BOUND BY THE TERMS OF THIS EULA UPON INSTALLING THIS SOFTWARE.  In addition, by installing, copying, or otherwise using maintenance updates that you receive as part of the Product (��Updates��), you agree to be bound by the additional license terms that accompany such Updates. If you do not agree to the additional license terms that accompany such Updates, you may not install, copy, or use such Updates.
 
1.	Applicability Of License. Product may consist of product documentation, sample web and desktop applications and valuation results, books and periodicals, tools and utilities, miscellaneous technical information, (each, a �Component,� and collectively �Components� of the Product). This EULA defines your rights to the Components you have elected to receive as part of your subscription to RIL�s maintenance service. 
2.	Grant of License. In general, for each license you have acquired for the Product, one organization and its related entities are authorized to use the Product according to the terms of this EULA. For each license:

3. Ownership Rights. You may modify the Software in accordance with the Documentation solely to allow for scenario analysis and changes to valuation assumptions in resulting spreadsheets.  Such modifications shall not be derivative works, nor shall you create or attempt to create any derivative works from the Software. Title, ownership rights and all intellectual property rights in and to the Software shall remain the sole and exclusive property of RIL.

4.1	Limitation on Reverse Engineering, Decompilation, and Disassembly. You may not reverse engineer, decompile, or disassemble the Product for any purpose, nor permit anyone else to do so, except and only to the extent that it is expressly permitted by applicable law notwithstanding this limitation. 
4.2	Termination. Without prejudice to any other rights, RIL may cancel this EULA if you do not abide by the terms and conditions of this EULA, in which case you must destroy all copies of the Product and all of its component parts. 
4.3	No Resale or Rental Rights.  You may not sell, resell, or rent, lease, grant a security interest in, lend or otherwise transfer the Product, for profit or otherwise. 
4.4	No Derivative Works.  Except as otherwise provided herein, you may not rename, edit, make error corrections to or otherwise modify or adapt the Product, or create or attempt to create any derivative works from the Product.
4.5	Consent To Use Of Data. You agree that RIL and its affiliates may collect and use technical information you provide as a part of support services related to the Product.  All such information provided by You becomes a property of RIL.
4.6	Export Restrictions.  You acknowledge that the Product is subject to U.S. export jurisdiction.  You agree to comply with all applicable international and national laws that apply to the Product, including the U.S. Export Administration Regulations, as well as end-user, end-use and destination restrictions issued by U.S. and other governments.  
4.7	Software Transfer. You may not transfer your rights under this EULA.  This product may not be resold in any form without express written permission of RIL.  
4.8	LIMITATION OF LIABILITY 
a. Evaluation Use.  Evaluation Software is provided gratuitously and, therefore, RIL and its suppliers shall not be liable for any direct, indirect, incidental, special, punitive or consequential damages under any theory of liability whether in tort, contract, strict liability or otherwise even if advised of the possibility of such damages. The information in such a version is likely to be outdated and may be for the purpose of illustration only.  The �demo� or evaluation copy is not intended for use in securities analysis for actual investments and such use may result in materially adverse outcomes.  For the purpose of this agreement all opinions, tables and other results, and valuation samples on the web site www.rationalinvesting.com shall be considered Evaluation Use of the software and are free of charge.

b. Production Use.  With respect to Production Use,    RIL'S AGGREGATE LIABILITY TO YOU FOR DAMAGES CONCERNING PERFORMANCE OR NONPERFORMANCE BY RIL OR IN ANY WAY RELATED TO THIS AGREEMENT, AND REGARDLESS OF WHETHER THE CLAIM FOR SUCH DAMAGES IS BASED IN CONTRACT, TORT, STRICT LIABILITY OF OTHERWISE, SHALL NOT EXCEED THE BASIC LICENSE FEES AND PROPORTIONAL MAINTENANCE FEES RECEIVED BY RIL FOR THE AFFECTED SOFTWARE FOR THE SIX (6) MONTH PERIOD PRECEDING THE OCCURRENCE OF SUCH LIABILITY, OR U.S. $10,000, WHICHEVER IS LESS. THIS INCLUDES BUT IS NOT LIMITED TO ANY LOSSES INCURRED IN INVESTMENTS OR PORTFOLIOS OR HEDGES OR OTHER FINANCIAL CONTRACTS ENTERED INTO AS A RESULT OF ANALYSIS USING THE SOFTWARE.  
	IN NO EVENT SHALL RIL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, LOST DATA OR LOST PROFITS, EVEN IF RIL HAS BEEN ADVISED AS TO THE POSSIBILITY OF SUCH DAMAGES.  
4.9	Disclaimer.  THE FOREGOING WARRANTY IS EXCLUSIVE AND IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INLCUDING WARRANTIES OF NONINFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

5	RIL�s Trademarks and Other Intellectual Property.  This EULA does not grant you any rights in connection with any trademarks or service marks of RIL, including, but not limited to Rational InvestingTM.  
6	RIL reserves the right at any time not to release or to discontinue release of any Software and to alter prices, features, specifications, capabilities, functions, licensing terms, release dates, general availability or other characteristics of the Software.

7. INTELLECTUAL PROPERTY INDEMNIFICATION.

a. Defense.  If a third party claims that your use of the Software infringes any United States copyright, you must promptly notify RIL in writing.  RIL will defend you against such claim if you fully cooperate with RIL and allow RIL to control the defense and all related settlement negotiations, and then RIL will indemnify you from and against any damages finally awarded for such infringement.

b. Injunctive Relief.  If an injunction is sought or obtained against your use of the Software as a result of a third party infringement claim, RIL may, at its sole option and expense, (i) procure for you the right to continue using the affected Software, (ii) replace or modify the affected Software with functionally equivalent software so that it does not infringe, or, if either (i) of (ii) is not commercially feasible, (iii) terminate the licenses and refund the remaining balance of any license fees received for the affected Software on a pro rata basis.

c. Indemnification by Licensee.  Licensor shall have no liability to any third parties arising from the use by Licensee of the Product.  Licensee agrees to indemnify and hold harmless Licensor from any and all losses, claims, damages, awards, reasonable expenses, attorneys� fees, costs, penalties or injuries incurred by Licensor, which arise from, or are based upon, Licensee�s use of the Product including but not limited to any losses incurred in investments or portfolios or hedges or other financial contracts entered into as a result of analysis using the Software.

d.	Disclaimer of Liability.  RIL shall have no liability for any third party claim of infringement based upon (i) use of other than the then current, unaltered version of the applicable Software, unless the infringing portion is also in the then current, unaltered release; (ii) use, operation or combination of the applicable Software with non-RIL programs, data, equipment or documentation if such infringement would have been avoided but for such use, operation or combination; or (iii) any third party software.  The foregoing constitutes the entire liability of RIL, and your sole and exclusive remedy with respect to any third party claims of infringement.

8. Term and Termination.

Acceptance of Agreement; Termination.  This Agreement takes effect upon the earlier of (i) your signature on this agreement, (ii) your downloading of the Software to display on your browser or for installation on your computer, (iii) your use of the Software, or (iv) receipt by RIL of a signed proposal or other ordering document for the Software, and will remain in force until terminated in accordance with this Agreement.  This Agreement may be terminated by you upon thirty (30) days' prior written notice to RIL or by destroying or returning to RIL all copies and partial copies of the Software and Documentation under your control; provided that no such termination will entitle you to a refund of any portion of the License or Support Services Fees. RIL may, by written notice to you, terminate this Agreement immediately if any of the following events occur: (a) you fail to pay any amount due to RIL within thirty (30) days after RIL gives you written notice of such nonpayment;  (b) you are in material breach of any non-monetary provision of this Agreement, which breach, if capable of being cured, is not cured within thirty (30) days after RIL gives you written notice thereof, or (c) you declare bankruptcy or make an assignment to or for the benefit of creditors.  After ninety (90) days of non-payment or material breach of Agreement, RIL may seek injunctive relief against your continued use of its software.

9.  Force Majeure. RIL is excused from any failure or delay in performance of its responsibilities otherwise imposed by this Agreement for any cause beyond its reasonable control. Such causes include, without limitation, fires, floods, storms, earthquakes, civil disturbances, war, material and sustained disruption of telecommunications, transportation, utilities or necessary supplies, governmental action, computer viruses and incompatible or defective equipment, software or services not supplied by RIL.

10. Governing Law. This agreement shall be governed by the laws of the state of New York without giving effect to its conflicts of law provisions.  The parties hereby agree that any action or proceeding arising out of, or related in any way to, this agreement shall be brought solely in a court of competent jurisdiction sitting in the borough of Manhattan, New York, New York.  The parties hereby irrevocably and unconditionally consent to the jurisdiction of any such court and hereby irrevocably and unconditionally waive any defense of an inconvenient forum to the maintenance of, or defense to, any action or proceeding in any such court, any objection to venue with respect to any such action or proceeding, or any right of jurisdiction on account of the place of residence or domicile of any party hereto.

I Accept I Decline