Terms of Use (US Person)

By accessing this web site and any materials presented herein (the “Site”), you accept in their entirety the following terms and conditions pertaining to the use of the Site. Silverback Asset Management, LLC reserves the right to change the terms, conditions and notices under which this Site is offered without notice at any time. Each use of the Site constitutes your agreement to be bound by the then-current terms and conditions set forth in these Terms of Use.

  1. Jurisdiction
    The information provided on this Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Silverback Asset Management, LLC (“SAM”) or its affiliates to any registration requirement within such jurisdiction or country.
  2. Ownership and Copyright
    This Site is owned by SAM. Except as specifically permitted below, all content, materials and any software posted to or used in conjunction with this Site or the products and services described herein, including, without limitation, text, graphics, logos, images, code, software, and service mark are the exclusive property of SAM, its affiliates, or the property of its licensors. SAM reserves, and will enforce to the fullest extent possible, all rights that it may have with respect to copyright and service mark ownership of all material contained in this Site.

    SAM grants you a limited, nonexclusive license to display and otherwise use portions of the Site for your personal and non-commercial information purposes only, and to print pages from the Site only in connection with that use. You may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer or sell any text, graphics, logos, images, code, software, information, products or services obtained from this Site.

    “Silverback” and "Silverback Asset Management" are registered service marks owned and used by SAM. Neither Silverback nor Silverback Asset Management are to be confused with other companies with similar names and marks.
  3. No Offer of Securities
    The content contained on this Site is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy either shares or interests in any funds or partnerships nor should such content be construed as a recommendation of any investment services referenced herein. An offer or solicitation will be made only by means of a confidential information memorandum and subscription agreement to a particular fund, only in jurisdictions in which such an offer, solicitation or sale would be lawful, and only to accredited investors who meet the suitability and qualification requirements for such fund or partnership.
  4. Restricted Period
    By accessing this Site, you agree not to invest in any of the funds (other than funds in which you or your affiliates are already invested, have already been solicited for or are already actively considering an investment in) for thirty (30) days after the approval of your registration.
  5. Passwords and Unauthorized Access
    Portions of this Site are password protected and are accessible only to users who have been issued passwords by the Administrator of the Site. You are responsible for the confidentiality and use of your password. You agree to contact us immediately if you believe that an unauthorized person has obtained access to your password. Although SAM will make reasonable efforts to protect the privacy of users of this Site, no guarantee can be made that unauthorized third parties will not access the information contained herein and SAM has no obligation to notify you that such unauthorized access has taken place.
  6. Privacy Notice
    By accessing this Site, you agree that non-public information provided by you may be disclosed to SAM, its affiliates or unaffiliated third parties provided it is (i) authorized by you or (ii) as otherwise required or permitted by law. In providing non-public information of our clients to unaffiliated third parties, SAM requires such third parties to safeguard the integrity and privacy of our clients by (i) maintaining policies and procedures designed to assure only appropriate access to such information, (ii) limiting the use of such information only as permitted by law or to those who need to know in order to provide the services related thereto, and (iii) maintaining physical, electronic and procedural safeguards that comply with federal standards to guard the information. Similarly, as a general business practice, SAM limits access to non-public information of our clients to those personnel who need to know such information to conduct SAM’s or its affiliates’ operations. SAM also maintains physical, electronic and procedural safeguards designed to protect such information from unauthorized access or use.
  7. No Reliance
    While SAM uses reasonable efforts to update the information on this Site, SAM makes no representations or warranties as to the accuracy, reliability or completeness of any information at this Site. Any content at this Site is subject to change without notice.
  8. Materials to be Reviewed in Entirety
    You should review all materials at this Site in their entirety, including but not limited to any footnotes, legal disclaimers, restrictions, disclosures, and any copyright or proprietary notices. Any disclaimers, restrictions or disclosures apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you review or download.
  9. Use of Links and Third Party Information
    SAM has not reviewed any of the web sites that may be linked to the Site and makes no representation as to the accuracy of information or opinions of any third party appearing on any linked site. SAM neither regularly monitors nor has control over the contents of such sites, and therefore does not endorse and disclaims all responsibility for the contents on such sites.
  10. No Warranty
    SAM, ITS AFFILIATES, AND THEIR OFFICERS, DIRECTORS, AGENTS AND EMPLOYEES MAKE NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE SUITABILITY OR OTHER CHARACTERISTICS OF THE INFORMATION AND MATERIALS CONTAINED ON OR PRESENTED THROUGH THE SITE. ALL SUCH INFORMATION IS PROVIDED “AS IS”, WITHOUT ANY WARRANTY OF ANY KIND. SAM FURTHER DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH REGARD TO SUCH INFORMATION AND MATERIALS, INCLUDING ALL IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT AND AVAILABILITY.
  11. Limitation of Liability
    IN NO EVENT SHALL SAM, ITS AFFILIATES, OR THEIR OFFICERS, DIRECTORS, AGENTS AND EMPLOYEES BE LIABILE FOR ANY CLAIMS, LIABILITIES, LOSSES, COSTS OR DAMAGES, INCLUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN ANY WAY CONNECTED WITH (I) THE USE OF OR INABILITY TO USE THE SITE OR WITH ANY DELAY IN USING THE SITE, OR (II) ANY INFORMATION AND MATERIALS OBTAINED THROUGH THE SITE, OR (III) OTHERWISE ARISING OUT OF THE USE OF THE SITE. SUCH LIMITATIONS APPLY EVEN IF SAM, ITS AFFILIATES, OR ANY OF THEIR OFFICERS, DIRECTORS, AGENTS OR EMPLOYEES HAVE BEEN ADVISED OF THE POSSIBILITY OF DAMAGES.
Terms of Use (Non US Person)

By accessing this web site and any materials presented herein (the “Site”), you accept in their entirety the following terms and conditions pertaining to the use of the Site. Silverback Asset Management, LLC reserves the right to change the terms, conditions and notices under which this Site is offered without notice at any time. Each use of the Site constitutes your agreement to be bound by the then-current terms and conditions set forth in these Terms of Use.

  1. Jurisdiction
    The information provided on this Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Silverback Asset Management, LLC (“SAM”) or its affiliates to any registration requirement within such jurisdiction or country.

    Special Provisions for UK users:

    The information provided on this Site is only directed to the following persons in the UK:
    1. persons having professional experience of participating in unregulated investment schemes falling within article 14 (investment professionals) of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001; and
    2. high net worth companies, unincorporated associations, trustees of a high value trust etc. falling within article 22 of the order.
  2. Ownership and Copyright
    This Site is owned by SAM. Except as specifically permitted below, all content, materials and any software posted to or used in conjunction with this Site or the products and services described herein, including, without limitation, text, graphics, logos, images, code, software, and service mark are the exclusive property of SAM, its affiliates, or the property of its licensors. SAM reserves, and will enforce to the fullest extent possible, all rights that it may have with respect to copyright and service mark ownership of all material contained in this Site.

    SAM grants you a limited, nonexclusive license to display and otherwise use portions of the Site for your personal and non-commercial information purposes only, and to print pages from the Site only in connection with that use. You may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer or sell any text, graphics, logos, images, code, software, information, products or services obtained from this Site.

    “Silverback” and "Silverback Asset Management" are registered service marks owned and used by SAM. Neither Silverback nor Silverback Asset Management are to be confused with other companies with similar names and marks.
  3. No Offer of Securities
    The content contained on this Site is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy either shares or interests in any funds or partnerships nor should such content be construed as a recommendation of any investment services referenced herein. An offer or solicitation will be made only by means of a confidential information memorandum and subscription agreement to a particular fund, only in jurisdictions in which such an offer, solicitation or sale would be lawful, and only to accredited investors who meet the suitability and qualification requirements for such fund or partnership.
  4. Restricted Period
    By accessing this Site, you agree not to invest in any of the funds (other than funds in which you or your affiliates are already invested, have already been solicited for or are already actively considering an investment in) for thirty (30) days after the approval of your registration.
  5. Passwords and Unauthorized Access
    Portions of this Site are password protected and are accessible only to users who have been issued passwords by the Administrator of the Site. You are responsible for the confidentiality and use of your password. You agree to contact us immediately if you believe that an unauthorized person has obtained access to your password. Although SAM will make reasonable efforts to protect the privacy of users of this Site, no guarantee can be made that unauthorized third parties will not access the information contained herein and SAM has no obligation to notify you that such unauthorized access has taken place.
  6. Privacy Notice
    By accessing this Site, you agree that non-public information provided by you may be disclosed to SAM, its affiliates or unaffiliated third parties provided it is (i) authorized by you or (ii) as otherwise required or permitted by law. In providing non-public information of our clients to unaffiliated third parties, SAM requires such third parties to safeguard the integrity and privacy of our clients by (i) maintaining policies and procedures designed to assure only appropriate access to such information, (ii) limiting the use of such information only as permitted by law or to those who need to know in order to provide the services related thereto, and (iii) maintaining physical, electronic and procedural safeguards that comply with federal standards to guard the information. Similarly, as a general business practice, SAM limits access to non-public information of our clients to those personnel who need to know such information to conduct SAM’s or its affiliates’ operations. SAM also maintains physical, electronic and procedural safeguards designed to protect such information from unauthorized access or use.
  7. No Reliance
    While SAM uses reasonable efforts to update the information on this Site, SAM makes no representations or warranties as to the accuracy, reliability or completeness of any information at this Site. Any content at this Site is subject to change without notice.
  8. Materials to be Reviewed in Entirety
    You should review all materials at this Site in their entirety, including but not limited to any footnotes, legal disclaimers, restrictions, disclosures, and any copyright or proprietary notices. Any disclaimers, restrictions or disclosures apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you review or download.
  9. Use of Links and Third Party Information
    SAM has not reviewed any of the web sites that may be linked to the Site and makes no representation as to the accuracy of information or opinions of any third party appearing on any linked site. SAM neither regularly monitors nor has control over the contents of such sites, and therefore does not endorse and disclaims all responsibility for the contents on such sites.
  10. No Warranty
    SAM, ITS AFFILIATES, AND THEIR OFFICERS, DIRECTORS, AGENTS AND EMPLOYEES MAKE NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE SUITABILITY OR OTHER CHARACTERISTICS OF THE INFORMATION AND MATERIALS CONTAINED ON OR PRESENTED THROUGH THE SITE. ALL SUCH INFORMATION IS PROVIDED “AS IS”, WITHOUT ANY WARRANTY OF ANY KIND. SAM FURTHER DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH REGARD TO SUCH INFORMATION AND MATERIALS, INCLUDING ALL IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT AND AVAILABILITY.
  11. Limitation of Liability
    IN NO EVENT SHALL SAM, ITS AFFILIATES, OR THEIR OFFICERS, DIRECTORS, AGENTS AND EMPLOYEES BE LIABILE FOR ANY CLAIMS, LIABILITIES, LOSSES, COSTS OR DAMAGES, INCLUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN ANY WAY CONNECTED WITH (I) THE USE OF OR INABILITY TO USE THE SITE OR WITH ANY DELAY IN USING THE SITE, OR (II) ANY INFORMATION AND MATERIALS OBTAINED THROUGH THE SITE, OR (III) OTHERWISE ARISING OUT OF THE USE OF THE SITE. SUCH LIMITATIONS APPLY EVEN IF SAM, ITS AFFILIATES, OR ANY OF THEIR OFFICERS, DIRECTORS, AGENTS OR EMPLOYEES HAVE BEEN ADVISED OF THE POSSIBILITY OF DAMAGES.
Definitions

Under the Securities Act of 1933, a company that offers or sells its securities must register the securities with the SEC or find an exemption from the registration requirements. The Act provides companies with a number of exemptions. For some of the exemptions, such as rules 505 and 506 ofRegulation D, a company may sell its securities to what are known as "accredited investors."

The federal securities laws define the term accredited investor in Rule 501 of Regulation D as:

  1. a bank, insurance company, registered investment company, business development company, or small business investment company;
  2. an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
  3. a charitable organization, corporation, or partnership with assets exceeding $5 million;
  4. a director, executive officer, or general partner of the company selling the securities;
  5. a business in which all the equity owners are accredited investors;
  6. a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase (excluding the value of such natural person’s primary residence);
  7. a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or
  8. a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.