Terms and Conditions – Adviser Financing Service

Last Modified:  February 18, 2024

Welcome to the terms and conditions for the Adviser Financing Service (these “Terms”). These Terms are between you, individually and on behalf of any Person (as hereinafter defined) that employs you and/or that you represent in connection with the Services (as hereinafter defined) (individually and collectively, the “Client”), and ENTERPRISE FINANCIAL PARTNERS, LLC, a Missouri limited liability company sometimes doing business as AdviserXchange (the “Consultant”), and govern our respective rights and obligations with respect to the Services.

Additional Terms. Client’s use of the AdviserXchange website (the “Website”) and/or Services are also governed by and subject to the Website’s Terms of Use, Privacy Policy, and other applicable terms, conditions, limitations, and requirements on the Website (collectively, and together with the Terms of Use and Privacy Policy, the “Additional Terms”), all of which (as updated and modified over time and from time to time) are incorporated into these Terms and apply to Client.

Acceptance of Terms. Please read these Terms carefully. By requesting a consultation with Consultant or otherwise agreeing to these Terms, Client accepts and agrees to be subject to and bound by these Terms and the Additional Terms (including, but not limited to, Client’s payment, indemnification, and other obligations in favor of Consultant and its Representatives (as such term is defined in the Terms of Use)), and further agrees to fully adhere to and abide by these Terms and the Additional Terms in all respects; provided, however  that in the event of any conflict between these Terms and the Additional Terms, these Terms  will govern and control.

1.  Services. During the Term (as hereinafter defined), Consultant will, on an ad hoc basis, consult with and assist Client in procuring loans, funding, and other financing of any kind or type (each, a “Loan” and collectively, the “Loans”) from Lenders (as hereinafter defined) for the benefit of Client and the Client Affiliates (as hereinafter defined) (collectively, the “Services”). As a part of and/or in connection with the Services, Consultant, in its sole discretion, will (and is hereby authorized by Client to): (a) identify banks, commercial lenders, and other financing sources of any kind or type (each, together with their respective subsidiaries, affiliates, correspondents, and other affiliated Persons, a “Lender” and collectively, the “Lenders”) that may, or could, have an interest in Client’s or any Client Affiliate’s Loan needs and requests, (b) submit Client’s and any Client Affiliate’s Loan needs and requests, and all other Information (as hereinafter defined), including, without limitation, Client’s and any Client Affiliate’s financial and personal credit information, that Consultant, in its sole discretion, deems appropriate, to any such Lenders for their review and consideration, (c) assist with introductions to and interactions between Client and the Client Affiliates and such Lenders, and (d) engage in and assist Client and the Client Affiliates with such other activities as Consultant, in its sole discretion, deems necessary or appropriate to perform the Services. Notwithstanding the foregoing or anything contained in these Terms to the contrary, Client acknowledges, understands, and agrees that (i) Consultant does not warrant or guarantee any results from the performance of the Services and (ii) if Consultant is unable or unwilling to assist Client with the procuring of any Loan need or request pursuant to these Terms, Consultant’s obligation will be limited to advising Client that Consultant is unable or unwilling to procure such Loan. It is also understood and agreed that Consultant’s engagement hereunder is non-exclusive, and that Client retains the right to engage other parties to render services similar to the activities contemplated hereby. The engagement of any such party will not, however, affect any fees payable to Consultant pursuant to these Terms.

2.  Consulting Fee. If at any time before, during, or after the Term, Client or any Client Affiliate (a) receives or accepts a commitment for any Loan from any Lender to whom Consultant or any Cooperating Person (as hereinafter defined) submitted any Client or Client Affiliate Loan need or request, (b) receives or accepts a commitment for any Loan from any Lender referred to, introduced to, or otherwise brought to the attention of Client or any Client Affiliate by Consultant or any Cooperating Person, (c) receives or accepts a commitment for any Loan from any Lender that Client or any Client Affiliate became aware of, or that became aware of Client or any Client Affiliate, as a direct or indirect result of the services or other activities of Consultant or any Cooperating Person, (d) receives or accepts a commitment for any Loan in which Consultant provided guidance, assistance, or any other service to Client or any Client Affiliate in connection therewith, or (e) renegotiates any term or provision of any Loan in which Consultant provided guidance, assistance, or any other service to Client or any Client Affiliate in connection therewith, then, in each case, Client will have an obligation to pay, and will immediately pay, or cause to be paid, to Consultant a consulting fee equal to the greater of (i) two percent (2%) of the face amount of the Loan made or committed to be made by such Lender (in each case as applicable) or (ii) $5,000.00 (such greater amount, the “Consulting Fee” and collectively, the “Consulting Fees”). Client acknowledges and agrees that higher percentage and minimum Consulting Fees and/or additional fees and retainers (collectively, the “Additional Fees”) may also from time to time be required by Consultant for any Loan or related consulting services and/or activities requested by Client that, in the sole discretion of Consultant, exceed the scope of the Services described in Section 1 above (collectively, the “Supplemental Services”). In such instances, the Supplemental Services will be documented separately by the parties, and any Additional Fees will be due and payable on demand or as otherwise specified by Consultant. All fees and retainers (including, without limitation, the Additional Fees) are non-refundable.  Client further acknowledges and agrees that Consultant may also: (A) receive additional compensation from the Lenders based on the Loan program(s) and terms Client accepts; (B) participate in other Loan transactions with the Lenders and receive a fee or other compensation from the Lenders in regard to such Loan transactions; and (C) pay unrelated parties a fee or other compensation in connection with any Loan transaction contemplated herein. Client hereby covenants and agrees to notify Consultant in writing immediately upon closing or accepting a commitment for any Loan. Client also covenants and agrees to provide Consultant with copies of all executed Loan documents (including, without limitation, any accepted Loan commitments) immediately after the execution of such Loan documents.

3.  Term; Cancellation of Service. These Terms will be effective from the date Client requested a consultation with Consultant or otherwise agreed to these Terms (the “Effective Date”) through the one (1) year anniversary date of the Effective Date (such one year period, the “Initial Term”), and will automatically renew for additional one (1) year periods (i.e., each subsequent anniversary date of the Effective Date) (each, a “Renewal Period”, and together with the Initial Term, the “Term”), unless earlier terminated in accordance with these Terms or Client gives written notice of termination to Consultant at least thirty (30) days prior to the expiration of the Initial Term or any Renewal Period. A termination initiated by Client will be in the form and manner as specified on the Website (or by Consultant if such information is not available on the Website) and effective as of the last day of the then-current Engagement Period (as hereinafter defined). Further, Consultant may, at any time after the Initial Term, terminate these Terms by providing at least thirty (30) days prior written notice to Client. Client acknowledges and agrees that, except for providing the Services pursuant to Section 1 of these Terms, all other provisions of these Terms will survive the expiration or earlier termination of these Terms for any reason.

4.  Client Responsibilities. Client will cooperate with Consultant and, when applicable, any Cooperating Person in all reasonable respects in matters relating to the provision of the Services. Such cooperation will include, without limitation, the prompt delivery of all information and documentation (collectively, the “Information”) requested or otherwise required by Consultant to enable Consultant to perform the Services. Client will also complete, execute, and deliver to Consultant such forms, applications, and authorizations, including, without limitation, authorizations for personal credit reports on Client, that may, from time to time, be requested by Consultant in connection with the Services. Client acknowledges and agrees that Consultant’s performance is dependent on the timely and effective satisfaction of Client’s responsibilities hereunder and timely decisions and approvals of Client in connection with the Services.

5.  Accuracy and Completeness of Information. Client recognizes and confirms that, in performing the Services, Consultant: (a) will use and rely on the accuracy and completeness of the Information provided or otherwise made available to Consultant by Client without having any obligation to independently verify the accuracy or completeness of such Information; and (b) does not assume responsibility for the accuracy or completeness of the Information and will not have any liability to Client or any third party if such Information is inaccurate or incomplete. Further, Client acknowledges and agrees that Consultant may use third party service providers, as well as information and data obtained from others, to assist with the completion of the Services; however, Consultant will not be responsible for, and Consultant makes no warranties, express or implied, regarding any such services, and takes no responsibility for, and provides no assurances regarding, the accuracy, completeness, timeliness, or reliability of any such information or data.

6.  No Legal, Tax, or Accounting Advice or Services. Notwithstanding any term or provision to the contrary in these Terms or otherwise, Client acknowledges, agrees, and stipulates that: (a) Consultant does not offer or provide legal, tax, or accounting advice or services and will not provide any such advice or services in connection with the Services; and (b) by engaging Consultant to perform the Services, Client understands and accepts sole responsibility to consult with Client’s own legal counsel and tax and accounting professionals or otherwise seek and obtain the services of such professionals acceptable to Client in connection with all such matters involving the Services. Client further acknowledges and agrees that the services of such legal, tax, and accounting professionals will be procured by Client at Client’s sole cost and expense, and that such cost and expense is not included in any fees payable to Consultant pursuant to these Terms or otherwise.

7.  Independent Contractor. Client acknowledges and agrees that: (a) Consultant has been retained solely to provide the Services and will act as an independent contractor and not as an employee of Client; and (b) the Services will  be performed by Consultant at its principal place of business or such other locations as determined by Consultant in its sole and absolute discretion.

8.  Limitation on Warranties. THIS IS A SERVICES ENGAGEMENT. CONSULTANT WARRANTS THAT IT WILL PERFORM THE SERVICES IN GOOD FAITH AND IN A PROFESSIONAL MANNER. CONSULTANT DISCLAIMS ALL OTHER WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. CLIENT’S EXCLUSIVE REMEDY FOR ANY BREACH OF THIS WARRANTY WILL BE FOR CONSULTANT, UPON RECEIPT OF WRITTEN NOTICE, TO USE GOOD-FAITH EFFORTS TO CURE SUCH BREACH, OR, FAILING ANY SUCH CURE IN A REASONABLE PERIOD OF TIME, THE RETURN OF ANY UNEARNED FEES OR RETAINERS PAID TO CONSULTANT HEREUNDER WITH RESPECT TO THE SERVICES GIVING RISE TO SUCH BREACH.

9.  Limitation on Damages. Client agrees that Consultant and its Representatives, subsidiaries, affiliates, subcontractors, and vendors, and their respective personnel (collectively, the “Consultant Affiliates”) will not be liable to Client for any claims, liabilities, damages, judgments, awards, losses, costs, or expenses relating to an engagement for the Services (“Claims”) for an aggregate amount in excess of the fees paid by Client to Consultant pursuant to such engagement. Further, in no event will Consultant or the Consultant Affiliates be liable for any loss of use, data, goodwill, revenues, or profits (whether or not deemed to constitute direct Claims), or any consequential, special, indirect, incidental, punitive, or exemplary loss, damage, or expense (including, without limitation, lost profits and opportunity costs), relating to this engagement, the Services, and/or these Terms.

10.  Modification and Waiver. These Terms can be modified by Consultant at any time. However, the terms and conditions in effect for the Services at the time of Client’s engagement will apply until the following Renewal Period, at which time the modified Terms will apply. No failure or delay on the part of Consultant in exercising any right, power, or remedy hereunder will operate as a waiver thereof, nor will any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power, or remedy. The rights and remedies provided for herein are cumulative and are not exclusive of any rights and remedies that may be available to Consultant at law, in equity, or otherwise.

11.  Notices. The parties agree that any notice, request, consent, claim, demand, waiver, change in contact, or other written communication to be provided pursuant to these Terms and/or applicable laws must be in writing and delivered to the applicable party in person or at their address, facsimile number, or email address provided with the engagement for the Services, or at such other address, facsimile number, or email as any party hereto may designate as their address, facsimile number, or email for communications under these Terms by notice so given in accordance with this Section 11. Such notices will be deemed effective on the day on which delivered if delivered in person, on the day on which sent if sent by facsimile or email, on the first (1st) business day after the day on which sent if sent by recognized overnight courier, and on the third (3rd) business day after the day on which mailed if mailed by U.S. postal service first class mail, postage prepaid.

12.  Headings; Severability. Headings used in these Terms are for convenience only and are not to be construed as part of these Terms. If any part or portion of these Terms is declared invalid or unenforceable by any court of competent jurisdiction, the remaining part or portion thereof will remain in full force and effect.

13.  Miscellaneous Definitions. Capitalized terms used herein and not otherwise defined in the context in which they are used have the meanings ascribed to them below and apply equally to the singular and plural forms of such terms.

“Client Affiliate” means any Person that, directly or indirectly through one or more intermediaries, is in control of, is controlled by, or is under common control with, Client. For the purposes of this definition, the term “control” (including, with correlative meanings, the terms “controlling”, “controlled by”, and “under common control with”), as used with respect to any Person, means the power, directly or indirectly, either to (a) vote 5% or more of the securities having ordinary voting power for the election of directors (or persons performing similar functions) of such Person, or (b) direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. Client Affiliate also includes, without limitation, all past, present, and future Representatives, affiliated Persons, informal partners, employers, and affiliated and associated broker-dealers, registered investment advisers, and custodians of Client and any Client Affiliate (excluding, however, Consultant and its affiliates and their respective Representatives), and any other Person that, in any way, directly or indirectly, benefits from Consultant’s services or activities hereunder.

“Cooperating Person” means any broker, recruiter, consultant, third-party advisor, or other Person (including, without limitation, any other client of Consultant) that, in any manner, directly or indirectly, whether before, during, or after the Term of this Agreement:  (a) assists or attempts to assist Consultant in the performance of the services hereunder; (b) is referred to, introduced to, or brought to the attention of Client or any Client Affiliate by Consultant in connection with the activities of Consultant or its performance of services hereunder; or (c) Client or any Client Affiliate became aware of, or became aware of Client or any Client Affiliate, as a direct or indirect result of Consultant’s activities or its performance of services hereunder.

“Engagement Period” means and includes the Initial Term and any successive Renewal Period.

“Person” means any individual, corporation, limited liability company, limited or general partnership, joint venture, trust, firm, association, unincorporated organization, governmental authority, or other entity of any kind, including any successor (by merger or otherwise) of such entity, or a group of any of the foregoing acting in concert.