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· ICE Bond Index Family
· ICE ESG Bond Index Family
· ICE Convertible Index Family
· ICE U.S. Equity Index Family
· ICE Futures Index Family
· ICE Volatility Index Family
(a) You shall only be permitted to use the Index Data (including any Derived Data) for the purposes expressly permitted by ICE Data (“Permitted Uses”) and inaccordance with the terms and conditions of this Agreement, subject to any further restrictions set in Section 2, below.
(b) Solely to the degree needed to support the Permitted Uses, You are allowed to create Derived Data (as defined herein) using Top Level Data.
(c) “Derived Data” is defined as data created by You, in connection with Your use of the relevant part of the Index Data as permitted under the terms of this Agreement, as a result of combining, processing, changing, converting or calculating the Index Data or anyportion thereof with other data where the resultant data (i) does not bear resemblance to the underlying Index Data; (ii) cannot be readily reverse engineered, disassembled or decompiled such that a third-party may access the Index Data via the Derived Data; (iii) cannot be used in a manner which could be a source of, or a substitute for Index Data provided by ICE Data, and (iv) cannot be used in whole or in part in a manner which competes with ICE Data orits affiliates.
(a) [intentionally blank].
(b) Any rights not expressly granted herein are here by reserved by ICE Data.
Permission is not granted to use any Index or Index Data as a reference index for securities or other financial instruments. Furthermore, permission is not granted to use any Index or Index Data as the basis for an ETF or other passive index-tracking fund, or any other financial instrument, whose objective or return is linked in any way to an Index.
(c) You may not (i)create a blended benchmark index based in whole or in part on Indices, (ii) create a custom benchmark index based in whole or in part on Derived Data or (iii) create a blended benchmark index by combining one or more Indices, Index Data or Derived Data with one or more third party indices.
(d) You shall not, except as set forth in this Agreement or otherwise approved in writing by ICE Data, market, display or otherwise provide the Index Data Services directly or indirectly: (i) via any means other than the applicable Wilshire service (i.e., Compass or Axiom, as applicable) including any other service orInternet site; (ii) to any third-party information retrieval networks sellingor licensing information to third parties; (iii) to any distributor or redistributor not approved by ICE Data; (iv) in whole or in part or in any combination with any service made available on Wilshire’s or Your platform other than the applicable Wilshire service; or (v) to any person, firm or entity other than Yourself, including any entity that is an affiliate of You that has not been approved in writing by ICE Data.
(e) Unless otherwise specifically stated herein, You shall not: (i) distribute the Index Data Services or any portion thereof through any service (including the applicable Wilshire service) with at hird party (e.g. joint or co-branded services); and (ii) authorize any third party to link, bookmark or point from a third-party service to the Index DataServices or a portion thereof.
(a) If Wilshire has reason to believe that You are engaging in conduct that violates this Agreement, and/or uses the Index Data (or any portion thereof) for purposes other than expressly permitted herein or in the Agreement, Wilshire shall: (a) instruct You to discontinue such conduct, and (b) inform ICE Datapromptly upon learning of any such misuse.
(b) In the event ICE Data reasonably believes that You did not discontinue engaging in conduct that violates this Agreement, and/or continues to use the Index Data (or any portion thereof) for purposes other than expressly permitted in the Agreement, after one (1) week following Wilshire’s instruction to do so, then ICE Data, at its option, may notify Wilshire to cease making the Index Data available to You, such cessation to take effect within two (2) business days from ICE Data’s notification.
1. The following provisions are applicable to You and are expressly made a part of Your agreement with Wilshire:
(a) The Top Level Data is being providedfor Your internal use only and You are not authorized or permitted to publish, distribute or otherwise furnish Top Level Data to any third-party without priorwritten approval of ICE Data;
(a) Neither ICE Data, its affiliates nor any of its Third Party Suppliers shall have any liability for the accuracy or completeness of the Top Level Data furnished through the Wilshire service, or for delays, interruptions or omissions therein nor for any lost profits, direct, indirect, special or consequential damages;
(b) The Top Level Data is not investment advice and a reference to a particular investment or security, a credit rating or any observation concerning a security or investment provided in the Top Level Data is not a recommendation to buy, sell or hold such investment or security or make any other investment decisions;
(c) You shall not use any Indices as a reference index for the purpose of creating financial products (including but not limited to any exchange-traded fund or other passive index-tracking fund, or any other financial instrument whose objective or return is linked in anyway to any Index) without prior written approval of ICE Data;
(d) ICE Data, their affiliates or their Third Party Suppliers have exclusive proprietary rights in the Top Level Data and any information and software received in connection therewith;
(e) You shall not use or permit anyone to use the Top Level Data for any unlawful or unauthorized purpose;
(f) Access to the Top Level Data is subject to termination in the event that any agreement between Wilshire and ICE Data terminates for any reason;
(g) ICE Data may enforce its rights against You as the third-party beneficiary of Your Agreement, even though ICE Data is not a party to Your Agreement;
(h) Your agreements, including but limitedt o the limitation of liability, indemnity and disclaimer provisions, shall extend to Third Party Suppliers.
Wilshire shall not modify any term contained in any version of Your Agreement that adversely affectsthe rights of ICE Data, including ICE Data’s proprietary rights, disclaimers or limitations of liability and use of the Top Level Data, without ICE Data’s prior written consent.
2. LIMITED EXTERNAL DISPLAY AND USE OFINDEX DATA
(a) You (i) may display Index Information (as defined below), on Your websites, (ii) include the Index Information in reports and (iii) include the Index Information in general market commentary and performance trends, that You prepare for Your customers and prospective customers ((i), (ii), and (iii) of this Section taken collectively, the “Reports”), as well as share the Index Information with You auditors and regulators upon their request.
(b) “Index Information” includes:
(i) the Index value;
(ii) the Index performance;
(iii) a general description of the Index; and
(iv) a limited amount of Index information including: non-security specific segments of the Index that it may obtain from ICE Data or derive on its own; and the Index weights for the top ten holdings (or more, if approved by ICE Data via email).
(c) You will include the following language, or other substantially similar language agreed to in writing by the Parties (including by email) (the “Disclaimer”) in (i) each prospectus or other offering document for any fund or other public investment product that is benchmarked to an Index, (ii) each contract for investment management services that mention the Indices or portfolio policy guidelines for any separately managed investment portfolio that is benchmarked to an Index, (iii) You website, if any, in a reasonably conspicuous manner, and(iv) any Reports, where it is reasonably feasible to do so:
Source ICE Data Indices, LLC (“ICE DATA”), isused with permission. ICE® is a registered trademark of ICE Data Indices, LLC or its affiliates [include if applicable:and BofA® is a registered trademark of Bank of America Corporation licensed by Bank of America Corporation and its affiliates ("BofA"), and may not be used without BofA's prior written approval]. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THE REFROM. NEITHER ICE DATA, ITS AFFILIATES NOR THEIR RESPECTIVE THIRD PARTY SUPLLIERS SHALL BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND YOUR USE IS AT YOUR OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DO NOT SPONSOR, ENDORSE, OR RECOMMEND WILSHIRE,OR ANY OF ITS PRODUCTS OR SERVICES.
You will include the following attribution (“Attribution”) in all other documents, not mentioned above, that include Index Data or reference an Index:
Source ICE Data Indices, LLC (“ICE Data”), is used with permission. ICE® is a registered trademark of ICE Data or its affiliates [include if applicable: and BofA® is a registered trademark of Bank of America Corporation licensed by Bank of America Corporation and its affiliates("BofA"), and may not be used without BofA's prior written approval]. The index data referenced herein is the property of ICE Data, its affiliates and/or its Third Party Suppliers and has been licensed for use by Wilshire. ICE Data, its affiliates and their respective Third Party Suppliers accept no liability in connection with its use. See [prospectus, registration statement,url, etc.] for a full copy of the Disclaimer.
(d) The Disclaimer and the Attribution may be translated into the local language if required by applicable law, provided that You clearly state that the English version of the Disclaimer prevails.
Unless explicitly stated in this Section 2 or approved in writing in advance by ICE Data, You shall not externally display or publish any Index Dataor other related information or data.
Wilshire has been applying highly tested theories and approaches to our client solutions since 1981.
Our clients rely on us to improve investment outcomes for a better future.