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Terms and conditions

Introduction

  • These terms of use (“Terms of Use”) and our Privacy Policy constitute our agreement with you as a User and govern the use of the service provided through the platform (“Platform”) operated at www.altx.com.au (“Site”) by AltX Pty Ltd.
  • The term “AltX” includes AltX Pty Ltd and its Related Bodies Corporate (as that term is defined in the Corporations Act 2001 (Cth)) (together, “AltX”), all of which are represented in the domain name www.altx.com.au.
  • Please read the terms carefully before using the Site. Using the Site indicates that you have read, understood, and agree to be bound by the Terms of Use. The Agreement shall continue thereafter unless and until it is terminated in accordance with our Termination provisions.
  • The Terms of Use may be changed from time to time by us without notice. It is your responsibility to check these Terms of Use from time to time to ensure that you agree with them, and your continued use of the Platform after any change to these Terms of Use will be deemed to be your acceptance of the change.

 

Disclaimer of Liability

  • To the maximum extent permissible by law, you release AltX and hold AltX harmless in respect of all liability, including for negligence, to you or any person in respect of anything and the consequences of anything done or omitted to be done by you or any person in whole or partial reliance on all or any part of the information accessed at or through this Site.
  • AltX makes no representations or warranties of any kind, either express or implied, including (without limitation) warranties as to accuracy or completeness of any information or non-infringement of intellectual property.
  • Whilst all reasonable care has been taken in providing this information, AltX:
    • does not warrant the accuracy and completeness of information accessed at or through this Site; and
    • does not accept any responsibility for any action taken in reliance thereon by any party who views the contents of or uses this Site.
  • AltX may make changes to the materials at this Site at any time without notice. The materials at this Site may be out of date, and AltX makes no commitment at any time to update the materials at this Site.
  • Nothing in these Terms of Use excludes, restricts or modifies the application of the provisions of any statute (including the Competition and Consumer Act 2010 (Cth)) where to do so would contravene that statute or cause any part of these Terms of Use to be void.

 

Collection of Information

  • You authorise AltX to collect and access your information from time to time for the purpose of providing our services to you, and to ensure that AltX is able to provide a secure way of conducting its business and the Platform. These responsibilities extend, among other things, to fraud, money laundering and other crime prevention, careful credit assessment and validation of the identity of all Users of AltX in accordance with Australian laws.
  • View our Privacy Policy here.

 

AltX Intellectual Property

  • The trademarks, service marks and logos (“Trade Marks”) used in this Site are our registered or unregistered Trade Marks. You may not copy, reproduce, adapt, display or transmit any Trade Mark in any form without our prior written consent.
  • Our domain name www.altx.com.au is our uniform resource locator (“URL”). You must not make any use of this URL on another website or digital platform without our prior written consent.
  • The Site, its design and layout, may not be copied, reproduced, adapted or transmitted in any form without our prior written consent.
  • You may only print, display or download temporary copies of the content of the Site to your own computers for your own use. Your registration and use of our Site confers no rights whatsoever to the content or related intellectual property rights contained in our Site. You agree not to monitor, use or copy our web pages or any content on the Site, including without limitation any price data. Unauthorised use constitutes copyright and/or trademark infringement and may be prosecuted.

 

Confidentiality

  • Confidential Information includes non-public information that AltX furnishes or otherwise makes available to investors with respect to the subscription for Notes offered on our Site. This includes, without limitation, loan terms, borrower names, lender names, property information, information relating to lenders, partners and third-party business and companies, pricing, and loan agreements (“Confidential Information”).
  • You agree that all Confidential Information obtained via your use of the Site shall be kept strictly confidential by you and used only for the purpose of making an offer to subscribe for Notes via the Site shall not be disclosed by you to any third party.
  • You agree not to contact, either directly or indirectly, any borrower, lender or real estate company in connection with a property, loan or issue of Notes listed on the Site, or any officers, directors, shareholders, consultants, lawyers, employees, agents or other affiliates of these parties, unless the contact is unrelated to any property, loan or issue of Notes listed on the Site.
  • Your obligations in connection with Confidential Information under these Terms of Use do not apply to Confidential Information which you can demonstrate:
    • was discovered or developed by you independently without reliance on the Confidential Information; or
    • is required to be disclosed by law, provided that you promptly notify us so that we have an opportunity to obtain relief in connection with such disclosure.
  • You undertake not to use the Site to:
    • Collect information provided by the Site for any purpose other than researching potential subscription for Notes listed on the Site and subscribing for such Notes;
    • Copy, transmit or redistribute any Information obtained on the Site to any third party;
    • Behave in any unlawful manner or in any other manner that could damage, disable, overload or impair the Site or the servers on which it is hosted;
    • Falsely misrepresent yourself, your age, your financial employment or personal circumstances or your affiliation with any person or entity; or
    • Use or attempt to use another person’s User Account without authorization from us, or create a false identity in relation to the Site.

 

Issue Of Notes

  • AltX is an authorised representative under the Australian financial services licence of Assetline Funds Management Pty Ltd ACN 113 502 604 (AFSL 291314).
  • The offer of Notes issued by Special Purpose Vehicles is only made to Australian resident wholesale clients (as that term is defined in the Corporations Act 2001 (Cth)). This does not constitute an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities to retail clients (as defined in the Corporations Act 2001 (Cth)) or clients in any other jurisdiction.
  • No information on the Site is to be construed as financial product advice or a recommendation to buy or sell any Notes or any financial product (as that term is defined in the Corporations Act 2001 (Cth)).

 

Entire Agreement

  • Except as specifically contemplated by these Terms of Use, no representations, statements, consents, waivers or other acts or omissions by us shall be deemed legally binding on us, unless documented in writing.

 

Applicable Law

  • These Terms shall be governed by and construed in accordance with the laws of the State of New South Wales, Australia, without giving effect to any principles of conflicts of law, notwithstanding that any such conflicts of law may involve the laws of a foreign jurisdiction. Any legal proceedings arising out of or in connection with the use of this Site must be commenced in the appropriate court in New South Wales. If you view the contents of or use this Site from locations outside of New South Wales, you are solely responsible for compliance with the laws of the jurisdiction in which you view the contents of or use this Site.
  • If any provision of these Terms is unlawful, void or for any reason unenforceable, then that provision shall be deemed severed from these Terms, and shall not affect the validity and enforceability of any remaining provisions in these Terms.

 

Complaints

  • If you have a complaint, please email us. Please include brief details of your complaint and your AltX User Account number.

 

Summary of Key Risks

  • The Website facilitates the subscription for Notes in Special Purpose Vehicles owned by AltX (“Notes”). Subscribing for Notes through AltX is not without risk. Below we summarise the general risks associated with subscribing for Notes. There may also be other risks which are specific to a Note you subscribe for or its corresponding underlying loan agreement for any given transaction.
TYPE OF RISKEXPLANATION
Borrower RiskA borrower fails to meet payment obligations or otherwise meet the terms of the Loan or has other financial difficulties. This could be for several reasons, including:

  • an inability to pay interest because of reduced rental income in respect of the Security Property;
  • an inability to pay interest because of reduced income (generally);
  • an environmental or demographic issue impacting on the ability of the Security Property to generate income; or

This could adversely affect the income attributable to a Loan, distributions to Noteholders in respect of that Loan and the value of the Loan.

Documentation RiskA deficiency in documentation could, in certain circumstances, adversely affect the return on a Loan. This may make it difficult for THE LOAN NOTE ISSUER to enforce its mortgage over the Security Property, to enforce any guarantee in respect of the Loan and may also affect the ability to recover any penalties imposed against the Borrower.
Property MarketThe property market declines in value, or the value of any property which secures a Loan declines. This will cause the LVR in respect of the relevant Loan to increase and, in circumstances where THE LOAN NOTE ISSUER enforces its security over the relevant property this may mean that THE LOAN NOTE ISSUER may not be able to recover the full amount of the monies lent
Valuation RiskThere is a risk that a valuer may incorrectly value a Security Property and that the property is worth less than the amount stated in the relevant valuation
Enforcement RiskWhere THE LOAN NOTE ISSUER takes enforcement action in respect of a defaulting Loan, the costs incurred by THE LOAN NOTE ISSUER in doing so could be substantial and significantly erode any monies recovered from the Borrower.
Loan Maturity and Investment Term RiskIt is intended that the Loans will usually be for terms of between 3 and 12 months. There is a risk that Borrowers will be unable to repay or refinance their Loans upon their maturity. In such circumstances, THE LOAN NOTE ISSUER may need to extend the term of the relevant Loan beyond the original maturity date.
Diversification RiskTHE LOAN NOTE ISSUER aims to present Investors with the opportunity to participate in a diverse range of mortgage assets.
Liquidity RiskThe Notes in THE LOAN NOTE ISSUER are not listed on any Exchange nor are they able to be redeemed.
Secondary MarketWhereas THE LOAN NOTE ISSUER anticipates that a secondary market will develop in the notes, allowing for liquidity, there can be no guarantee that liquidity will exist