Terms of Use – Horizons BetaPro Blackberry Application

This is an agreement between you and BetaPro Management Inc. Sometimes BetaPro Management Inc. and its affiliates are referred to as "BetaPro," "we," "us" or "our". This contract applies to the Horizons BetaPro Blackberry application or services, including updates, that display or link to this contract and that you use while this contract is in force. All of the software or services are referred to in this contract as the "service."

This contract is solely In this contract, the phrase "Information Providers" includes, but is not limited to, any licensors, suppliers, service providers or other third parties that provide, from time to time, any data, application, or other web services or information for purposes of the service.

How You May Use the Service.

In using the service, you will:

How You May Not Use the Service.

In using the service, you may not:

Rights Granted and Restrictions on Use

BetaPro grants to you a limited non-exclusive, non-transferable license to view, copy and print the material on the service (other than the design or layout of the service) for your non-commercial or personal use only. All copies that you make must retain all copyright and other notices that are on the service. Except as provided in the previous sentence, you may not use, distribute, sell, modify, transmit, revise, reverse engineer, republish, post or create derivative works (where applicable) of the trade-marks, trade names, logos, information, software or other material or content on the service (referred to collectively, as the "content" of the service) without BetaPro's prior written permission. You acknowledge and agree that the service and its content are the property of BetaPro, its affiliates and Information Providers and you will not acquire any rights or licenses in any trade-marks, patents, copyright or other intellectual property on the service or in its content. The service and its content are protected by copyright, both individually and as a collective work or compilation and by trade-mark law, patent law and any other applicable laws.

Your Authority to Use the Service

By using the service, you are representing to us that you have the power and authority to accept these Terms of Use and to enter into this agreement with us, that you are capable of assuming, and do assume, any risks related to the use of the service and its content, and that you understand and accept the terms, conditions and risks relating to its use. If you are dissatisfied with the service or its content, your sole and exclusive remedy is to stop using them.

Software

If you receive software from us as part of the service, your use of that software is under the terms of the license that is presented to you for acceptance for that software. If there is no license presented to you, or unless otherwise stated in this contract, then we grant you the right to use the software only for the authorized use of the service on that number of devices stated in your service offer. We reserve all other rights to the software.

[We may automatically check your version of the software. We may automatically download upgrades to the software to your personal digital assistant to update, enhance and further develop the service.]

Unless we notify you otherwise, your license to use the software will end on the date your service ends, and you must promptly uninstall the software. We may disable the software after the date the service ends.

You will not disassemble, decompile, or reverse engineer any software included in the service, except and only to the extent that the law expressly permits this activity.

The software is subject to Canadian export laws and regulations. You must comply with all domestic and international export laws and regulations that apply to the software. These laws include restrictions on destinations, end users and end use.

Internet or Wireless Access

The service does not include Internet access, wireless Internet access or wireless data download access or include the costs of data downloaded to your  personal digital assistant device.  You are responsible for paying the fees charged by your Internet and/or wireless access provider. Those fees are in addition to the fees you pay us for the service.

Disclaimers

The information on this site is for informational purposes only and is not intended to provide legal, accounting, tax, investment, financial or other advice and such information should not be relied upon for such advice. BetaPro, its Information Providers and each of its respective affiliates, directors, officers, agents and representatives assume no liability for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon. The information contained on the service, including without limitation, the information obtained through Information Providers or through any other link, has been supplied by such Information Providers or other third parties without verification by us. The views, opinions and advice of any third party provided on the service reflect those of the individual authors and are not endorsed by us. Past performance is not necessarily indicative of future performance. Prior to making any investment decision, it is recommended that you consult directly with the individual or firm and seek advice from a qualified investment advisor. Neither BetaPro nor any of its affiliates or Information Providers make or have made any recommendations regarding the securities or investment services of any person or entity with respect to the content of the service, or of the advisability of investing in securities generally for any particular individual.

ALTHOUGH THE CONTENT HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, THE SERVICE COULD INCLUDE TECHNICAL OR OTHER INACCURACIES OR TYPOGRAPHICAL ERRORS AND THEY ARE PROVIDED TO YOU ON AN "AS IS" BASIS WITHOUT WARRANTIES OR REPRESENTATIONS OF ANY KIND. BETAPRO, ITS AFFILIATES AND INFORMATION PROVIDERS MAKE NO REPRESENTATION AND DISCLAIM ALL EXPRESS AND IMPLIED WARRANTIES AND CONDITIONS OF ANY KIND, INCLUDING WITHOUT LIMITATION, REPRESENTATIONS, WARRANTIES OR CONDITIONS REGARDING ACCURACY, TIMELINESS, COMPLETENESS, NON-INFRINGEMENT, SATISFACTORY QUALITY, MERCHANTABILITY, MERCHANTABLE QUALITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR THOSE ARISING BY LAW, STATUTE, USAGE OF TRADE, OR COURSE OF DEALING. BETAPRO, ITS AFFILIATES AND INFORMATION PROVIDERS ASSUME NO RESPONSIBILITY TO YOU OR ANY THIRD PARTY FOR THE CONSEQUENCES OF ANY ERRORS OR OMISSIONS.

No Damages

BETAPRO, ITS AFFILIATES, INFORMATION PROVIDERS AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, OR AGENTS SHALL NOT, UNDER ANY CIRCUMSTANCES, BE LIABLE FOR ANY DIRECT, CONSEQUENTIAL, INCIDENTAL, INDIRECT OR SPECIAL DAMAGES, OF ANY KIND, OR ANY OTHER DAMAGES WHATSOEVER, INCLUDING WITHOUT LIMITATION, THOSE ARISING FROM ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE UPON THE CONTENT OR THOSE RESULTING FROM LOSS OF USE, DATA OR PROFITS, WHETHER RESULTING FROM THE USE OF OR INABILITY TO USE ANY CONTENT ON THE SERVICE (OR A WEBSITE LINKED TO THE SERVICE), OR ANY OTHER CAUSE; AND EVEN IF CAUSED BY BETAPRO'S OR ITS AFFILIATE'S OR INFORMATION PROVIDERS' NEGLIGENCE, AND EVEN IF ANY OF THEM HAS BEEN APPRISED OF THE LIKELIHOOD OF SUCH DAMAGES OCCURRING.

THE ABOVE LIMITATIONS AND EXCLUSIONS SHALL APPLY TO YOU TO THE FULLEST EXTENT THAT APPLICABLE LAW PERMITS, IN ALL ACTIONS OF ANY KIND, WHETHER BASED ON CONTRACT, TORT (INCLUDING, WITHOUT LIMITATION, NEGLIGENCE) OR ANY OTHER LEGAL OR EQUITABLE THEORY. ANY CLAUSE DECLARED INVALID SHALL BE DEEMED SEVERABLE AND NOT AFFECT THE VALIDITY OR ENFORCEABILITY OF THE REMAINDER OF THESE TERMS OF USE.

Securities

Neither BetaPro, its Information Providers nor any of their respective affiliates, officers, directors, employees, agents or licensors[: (a) has passed on the merit of any of the securities referred to on the service or any linked site; or (b) has endorsed or sponsored any of these securities; or (c)] [NTD—considering that a and b should probably be deleted, consider whether any disclaimer necessary for any additional disclaimer] makes or has made any recommendation regarding any securities identified on or linked to the service, nor the advisability of investing in securities generally for any particular individual. PLEASE SEEK THE ADVICE OF PROFESSIONALS, AS APPROPRIATE, REGARDING THE EVALUATION OF ANY SPECIFIC SECURITY, INDEX, REPORT, OPINION, ADVICE OR OTHER CONTENT.

Copyright and Trademark Notices

All contents of the service are Copyright © 2009 BetaPro Management Inc. and/or its suppliers, 26 Wellington St. E., Suite 920, Toronto, ON, M5E 1S2. All rights reserved. Copyright and other intellectual property laws and treaties protect any software or content provided as part of the service. We or our suppliers own the title, copyright, and other intellectual property rights in the software or content. Horizons BetaPro, the trade names of the BetaPro funds and/or other BetaPro products and services referenced herein may also be either trademarks or registered trademarks owned and/or licensed by BetaPro in Canada and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners which have been licensed to BetaPro. Any rights not expressly granted herein are reserved.

ETF Market Price Quotes and E-mail Alerts

ETF market price quotes appearing on the service are supplied by [TMX Group Inc.] ("TSX"). Unless otherwise indicated, ETF price quotes are delayed at least [30] minutes. ETF price quotes indicated as "real-time quotes" are made available without delay following their receipt from TSX. Your actual receipt of real-time quotes may be affected by delays in transmission over the Internet, your wireless connection, and by other causes. All stock quotes are labeled with "time of last trade" to indicate the timeliness of the data.

All information provided by TSX and its affiliates (the "TSX Information") included in the service is owned by or licensed to TSX and its affiliates and any user is permitted to store, manipulate, analyze, reformat, print and display the TSX Information only for such user's personal use. In no event shall any user publish, retransmit, redistribute or otherwise reproduce any TSX Information in any format to anyone, and no user shall use any TSX Information in or in connection with any business or commercial enterprise, including, without limitation, any securities, investment, accounting, banking, legal or media business or enterprise. Prior to the execution of a security trade based upon the TSX Information, you are advised to consult with your broker or other financial representative to verify pricing information. Neither BetaPro nor its affiliates make any express or implied warranties (including, without limitation, any warranty or merchantability or fitness for a particular purpose or use) regarding the TSX Information. The TSX Information is provided to the users "as is." Neither BetaPro nor its affiliates will be liable to any user or anyone else for any interruption, inaccuracy, error or omission, regardless of cause, in the TSX Information or for any damages (whether direct or indirect, consequential, punitive or exemplary) resulting therefrom.

Financial Notice

BetaPro is not an investment dealer or registered investment advisor under Canadian securities law or securities laws of other jurisdictions, and does not advise individuals as to the advisability of investing in, purchasing or selling securities or other financial products or services. Nothing contained in the service constitutes an offer or solicitation to buy or sell any security. [BetaPro does not endorse or recommend any particular financial products or services.] Nothing contained in the service is intended to constitute professional advice, including but not limited to, investment or tax advice.

Support

Customer support is not offered for the service, unless provided otherwise in this contract or the materials we publish in connection with a particular service specify that it includes customer support.

Assignment

We may assign this contract, in whole or in part, at any time with or without notice to you. You may not assign this contract, or any part of it, to any other person. Any attempt by you to do so is void. You may not transfer to anyone else, either temporarily or permanently, any rights to use the service or any part of the service.

No Third Party Beneficiaries.

This contract is solely for your and our benefit. It is not for the benefit of any other person, except for permitted successors and assigns under this contract.

Non-Confidential Use of Your Postings

Any non-personal communication, comments, ideas or material you post or transmit to BetaPro is, and will be treated as, non-confidential and non-proprietary. By transmitting or posting any communication or material to the service you grant to BetaPro and all of its affiliates, an unrestricted, irrevocable license to use, reproduce, display, modify, transmit, distribute, publish, broadcast or post your communication for any purpose. You also agree that BetaPro is free to use any ideas, concepts, know-how or techniques that you send us for any purpose. However, we will not release your name or otherwise publicize the fact that you submitted materials or other information to us unless: (a) you grant us permission to do so; (b) we first notify you that the materials or other information you submit to a particular part of a site will be published or otherwise used with your name on it; or (c) we are required to do so by law.

Protecting Information

We have reasonable security measures in place to protect against the loss, misuse and interception by third parties of the information under our control. However, complete confidentiality and security is not yet possible over the Internet. We assume no liability for any damages you may suffer as a result of interception, alteration or misuse of information transmitted over the Internet. To access and print a complete version of our privacy policy please visit www.HBPETFs.com/privacy.asp.

Changes to Terms of Use

BetaPro reserves the right to revise these Terms of Use at any time without notice to you. You are bound by such revisions so we encourage you to visit this page frequently to stay informed.

Violations of Terms of Use

BetaPro reserves the right to seek all remedies available at law and in equity for violations of these Terms of Use, including the right to block access from a particular Internet address or wireless user to our site and/or the service.

Other Countries

The service can be accessed from countries around the world other than Canada and may contain references to BetaPro products, services, and programs that have not been announced in your country. These references do not imply that BetaPro intends to announce such products, services or programs in your country. BetaPro makes no representation that the content on the service is appropriate or available for use in other locations, and accessing the service from territories where its content is illegal is prohibited. Those who choose to access the service from other locations do so on their own initiative and their own risk and are responsible for compliance with local laws.

Laws

The service (excluding linked sites) is controlled by BetaPro from its offices within the Province of Ontario, Canada. By accessing the service, you and BetaPro agree that all matters relating to your access to, or use of, the service shall be governed by the statutes and laws of the Province of Ontario or the federal laws of Canada, as applicable, without regard to the conflicts of laws principles thereof. You and BetaPro also agree and hereby submit to the exclusive personal jurisdiction and venue of the courts of the Province of Ontario with respect to any and all matters arising in connection with these Terms of Use.

How to Contact Us

If you have submitted personal information through the service, and would like that information deleted from our records, please contact us at our e-mail address ●. We will use reasonable efforts to delete this information from our existing files.

YOU ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS OF USE, UNDERSTAND THEM AND AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS IN THESE TERMS OF USE.

Investor Relations and Related Matters

Forward -Looking Information

The service may contain “forward-looking information” (as defined in applicable Canadian securities legislation) that is based on expectations, estimates and projections as of the date of the content published on the service. Often, but not always, such forward-looking information can be identified by the use of forward-looking words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “targeted”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, or variations or the negatives of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved or not be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of BetaPro and/or its funds to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.

Examples of such forward-looking information include, but are not limited to, factors relating to stock, derivatives, energy and commodities prices and the business, financial position, operations and prospects of BetaPro and/or its funds, including the risk factors identified in the prospectus of each of the BetaPro funds. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking information contained in the service.

Such forward-looking information is based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions described in the prospectus of each BetaPro fund.

While we anticipate that subsequent events and developments may cause our views to change, we have no intention to update this forward-looking information, except as required by applicable securities law. This forward-looking information should not be relied upon as representing our views as of any date subsequent to the date on each individual page of content or documents included on the service. We have attempted to identify important factors that could cause actual actions, events or results to differ materially from those current expectations described in forward-looking information. However, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and that could cause actual actions, events or results to differ materially from current expectations. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. These factors are not intended to represent a complete list of the factors that could affect us. A description of the above-mentioned items is contained in each BetaPro fund’s prospectus; which risk factors are specifically incorporated by reference.