fbpx

ANote Music Trading Cup – Terms and Conditions

These Trading Cup T&Cs (with the “waiver” attachment), regulate the “ANOTE MUSIC – TRADING CUP” (the “Trading Cup”) run by ANote Music SARL, apply to all Registered Users as defined in Art. 1.

For these Trading Cup T&Cs, the definitions in article 1 retain their value in both singular and plural, both in lowercase and uppercase letters.

The Trading Cup does not constitute a prize competition in accordance with the 1977 Law (Articles 4 to 8) of the Grand Duchy of Luxembourg, given that mere competition games, free lotteries and raffles exclusively organised for marketing purpose are not considered to be ‘gambling’ and do not require any prior authorisation to be requested to the Ministry of Justice of Luxembourg.

This Trading Cup’s goal is to allow Registered Users to show their skills in investment strategies, as described below.

The Trading Cup is organized by:

ANote Music SARL, a company limited by shares (société à responsabilité limitée) duly organized and existing under the laws of the Grand Duchy of Luxembourg having its registered office at 9 Avenue des Hauts-Fourneaux, Esch-sur-Alzette L – 4362, Luxembourg and registered with the Luxembourg Company Registrar (Registre de Commerce et des Sociétés)  under number B226351

The Trading Platform is developed, owned and managed by ANote Music.

Information request regarding the Trading Cup can be send to: tradingcup@anotemusic.com

The online publication of these Trading Cup T&Cs (with the “waiver” attachment) on the Platform, in pdf format, is valid asmaking information available on a durable medium. Registered Users can also save, on their own durable medium, these documents, in order to be able to consult them once the Trading Cup is concluded, after their removal from the ANote Music Platform itself.

 

1 – Trading Cup T&Cs definitions

“ANote Music”: ANote Music SARL, as above identified.

“ANote Music Organization”: all employees (with any qualifications or level, including executives) of ANote Music.

Applicable Laws” means the Governing Law and any and all other law, regulation, statutes and EU and international treaties applicable to the Parties and/or the Platform, including but not limited to any law and regulation governing the ownership of the Intellectual Property Rights and Royalty Rights; 

Bid” means the price offered by one or more Counter-Parties to the Transferor in exchange of Royalty Interests, or part thereof (Shares), on the Platform’s Primary Market.

Catalogue” means a collection of Music Rights on Tracks that are grouped and made available for Transactions under a single title;

“Enrolment”: the enrolment procedure to allow identification of the Registered User that will apply to join the Trading Cup

Evaluation Form”: survey that will be provided by ANote Music to the Registered Users after the end of the Trading Cup, as per Art. 8.

“Final Leaderboard”: the ranking that lists in descending order the Registered Users, based on Performance obtained at the end of the Trading Cup and calculated as per Art. 6 of the Trading Cup T&Cs.

“Input”: the description of a future economical event, qualitative or quantitative, on which the Registered User can adopt his investment strategy, using the Trading Platform, as per Art. 5.

“Internet”: the global network, including networks connected to each other according to TCP/IP protocol.

“Investment Portfolio”: the virtual capital to be invested and available for Registered Users who will join the Trading Cup.

“Online Leaderboard”: the ranking that lists in descending order the Registered Users, based on Investment Performances obtained at the end of the Trading Cup and calculated as per Art. 7 of the Trading Cup T&Cs.

“Parties”: ANote Music and Registered Users.

“Performance”: the result of the investment strategy (that means total profit or loss), obtained by a Registered User during the Trading Cup.

“Registered Users”: participants to the Trading Cup, external to ANote Music Organization.

“Intellectual Property”: All intellectual property rights including without limitation patents, copyrights, database rights and trade marks in the content of ANote Music website and Trading Platform belongs to ANote Music or a third party including our licensors. This content may include names, terms and/or data which may or may not be identified with a symbol identifying it as a name, term or item in which copyright is claimed or a registered trademark is held. The lack of any such symbol should not, under any circumstances, be understood as meaning that the name, term or data is not the Intellectual Property of either ourselves or a third party.

Royalty Interest” means the right, to receive Royalty Payments for a specific Music Right and for a duration specified contractually

Royalty Payments” means any and all payments that are due, under any Applicable Law, to the rightful holder of a Music Right (the “Right Owner”) as consideration for the permission given by such Right Owner for the ongoing use of such Music Right. Royalty Payments may be expressed as a percentage of revenue or a fixed price per unit use of that Music Right, and are limited to the duration of the Royalty Interests.

“Share” or “Shares” means one of the equal parts into which the Royalty Interest is divided entitling the holder thereof to a proportion of the Royalty Interest;

 “Trading Cup”: the overall activity of the “ANOTE MUSIC – TRADING CUP” that takes place in accordance with these Trading Cup T&Cs.

“Trading Cup T&Cs”: Trading Cup Terms & Conditions with the “waiver” attachment, as published on the ANote Music website.

“Trading Platform”: the website accessible at the URL: https://app-test.anotemusic.com and after connection to the internet.

Transaction” means the transfer of Royalty Interests to one or more Parties, having successfully summited their Bids on the Primary Market or exchanged Shares on the Secondary Market. Such Transaction being facilitated by ANote regardless of whether it occurs on the Platform or otherwise (off-line Transactions) and regardless of the extent of ANote’s involvement in the same;

Transaction Price” means the price at which the transfer of the Royalty Interest or Shares thereof is agreed between the Transferor and the Counter-Party;

 

2 – Applicable laws and disputes

The applicable law is that current in the Grand Duchy of Luxembourg, as ANote Music, organizer of the Trading Cup, has its headquarter in this territory.

For anything not expressly provided for in these Trading Cup T&Cs, reference is made to the General Terms and Conditions of the Trading Platform, and to current laws of the Luxembourg legal system.

For any dispute deriving from the Trading Cup and the related Trading Cup T&Cs, the Court of the city of Luxembourg will have exclusive jurisdiction.

 

3 – Exclusions

Are expressly excluded from participating in this Trading Cup:

  • all members of the ANote Music Organization
  • all subjects who are not resident or domiciliated in one of the countries available during the registration process.
  • all subjects who are not at least 18 years, at April 22,2020

 

4 – Enrolment

To join the Trading Cup, the subject with the requirement indicated in the definition of “Registered User” and that, consequently, do not fall under Art. 3 exclusions, must:

Fill in the online registration form at https://anotemusic.com/tradingcup/  and if not already registered to the ANote Music Trading Platform, visit https://app-test.anotemusic.com/#/register, fill-in the online form and complete the registration that includes the acceptance of the Trading Platform “Terms and Conditions” and the declaration to have read the privacy notice; if already registered to the Trading Platform, make the login filling-in username and password.

When the registration will be completed, the Registered User will automatically receive a User ID.

The enrolment will take place between April 8th, 2020 (09:00 GMT) and April 21st, 2020 (until 23:59:59 GMT).

Enrolment within 48h after the above-mentioned deadline, meaning before April 23rd, 2020 (until 23:59:59 GMT), will be accepted and the Registered User will join the already started Trading Cup. Enrolment subsequent to 48h from the start of the Trading Cup, won’t be admitted for participation to the Trading Cup. Nevertheless, it will be still possible to register and use the Trading Platform.

All the subjects that will complete the Enrolment procedure above described will be able to join the Trading Cup, until the maximum number, 100 Registered Users, is reached.

 

5 – General provisions of the Trading Cup

The Trading Cup will take place from April 22nd, 2020 (09:00 GMT) to May 7th, 2020 (16:00 GMT).

When the Trading Cup will start, each Registered User will have a (virtual) Investment Portfolio of 10,000.00 Euro.

The Investment Portfolio is at disposition of the Registered User that will have to set the best investment strategy, on the basis of the Inputs provided and related to a music business activity/event/news/expectation.

During the Trading Cup, every working day (that means from Monday to Friday), on the Trading Platform will be published at least one Input. In the weekly newsletter, the Inputs of the week will be gathered together.

The first Input will be published from April 22nd, 2020 (09:00 GMT).

Every Input will describe a virtual activity/event/news/expectation that will have a direct or indirect impact on the generation of royalties of a certain catalogue.

Participants can acquire participations in Catalogues buying Shares. The price of a catalogue is the result of an estimation of its future royalty generations. Price of catalogues shall be influenced by the Inputs provided by ANote Music, which should influence the expectation about future royalty generations and therefore, profitability of the catalogue itself.

The trading instruments that the Registered Users will be able to use on the Trading Platform are Shares, for which they will be able to issue online buy and sell orders.

The market on which the Registered User will be able to trade is the one available on the Trading Platform. Since participationto the Trading Cup is free of charge, the Trading Platform is available in demo version and does not guarantee the entire coverage of services compared to its real offer in full version.

The Trading Platform will be always operating during the Trading Cup but orders to buy and sell Shares will be executed on the market only from 9:00 to 16:00 GMT, 7 days per week.

ANote Music reserves the right to supervise the activity of the Registered Users in order to identify  unethical behaviours such as artificially inflate the valuation of the shares in the portfolio or the cash balance. Creation of double accounts or “working in team” with other Registered Users participating to the Trading Cup or simply registered on app-test.anotemusic.com is not allowed.  Registered Users participating in an unethical manner will be disqualified.

6 – Catalogues Financials and Royalty Payments

Each catalogue displayed on the Trading Platform shows its financials in the specific Catalogue page. In practice, the financials represent the royalties generated in the previous periods.

  • At Day 1 of the Trading Cup, the Registered Users will be able to see the values generated by the Catalogues up to October and November 2019.
  • At Day 7 of the Trading Cup, earnings of the month of December 2019 will be made public and the royalties of the Q4 2019 will be distributed to the Registered Users, accordingly to the number of shares they own in that moment.
  • At Day 9 royalties generated in January will be displayed in the financials.
  • At Day 11 royalties generated in February will be displayed in the financials.
  • At Day 13 royalties generated in March will be displayed in the financials and royalty distribution of Q1 2020 will take place.
  • At Day 15 16:00 GMT the Trading Cup officially closes.

 

7 – Trading Cup Ranking Criteria

At the end of the first week of Trading Cup (Day 7), ANote Music will prepare a Provisional Ranking. The provisional Investment Portfolio ranking will be based on the Net Asset Value of the Investment Portfolio (number of shares multiplied by the current market price) and the cash available on the account (including royalties distributed during the competition).

At the closing of the Trading Cup (Day 15), ANote Music will prepare a Final Ranking. The Final Ranking will be calculated based only on the cash balance present on the Registered User’s account.  Registered Users are advised to gradually close all their open positions on the Catalogues, rather than trying to sell all their assets at once just before the closure of the Trading Cup.

 

8 – Evaluation Form

In order to complete the participation to the Trading Cup and be entitled to receive the prizes in kind (Art. 9) the Registered Users will have to complete the Evaluation Form they will receive via email after the Trading Cup is officially closed.

 

9 – Consideration in kind for the Registered Users

The prize in kind for the Registered User ranked 1st in the Final Leaderboard consists in:

Speakers Bose Soundlink Revolve+

The winner will be contacted by ANote Music to organize the free shipping of the prize.

All the participants who performed at least 7 Transactions during the Trading Cup will receive a discount code to be used on ANote Music Platform, when officially live and available to the public. The discount code will be valid 6 months and can be used to reduce by 50% the Management Fees applied by ANote Music when distributing Royalties Interests to owners of Shares.

 

10 – Miscellanea

The Parties will maintain their managerial and operational autonomy during the activities carried out respectively in the Trading Cup T&Cs.

The attempted unauthorized access to the platform, regardless of the outcome, for the purpose of damaging it or attempting, byway of example and not exhaustively, to manipulate the system that calculate the Performance, are grounds for eliminating a Registered User from the Trading Cup.

In addition to extending the deadline for Enrolment, ANote Music has the right to postpone publication of Inputs, giving notice, also in this case, via the Trading Platform or email communication.

ANote Music is not responsible for failure to start or end the Trading Cup for any reason attributable to third parties (by way of example, but not limited to: interruption of internet connectivity, attempted intrusion or unauthorized access to the Platform or to the Trading Platform or any computer systems connected to it, etc.) or due to force majeure; in such cases, ANote Music will have the right to postpone the start or end of the Trading Cup, or to interrupt temporarily the Trading Cup, giving notice via the Trading Platform or email communication.

ANote Music is not responsible for any Registered Users’ hardware or software malfunctions, or interruption of the internetconnection used by them that prevent them processing or completing a trading activity through the Trading Platform during the Trading Cup.

ANote Music has the right to modify and/or supplement these Trading Cup T&Cs, provided any changes and/or additions will not create unequal treatment between Registered Users already enrolled.

In case any provision of these Trading Cup T&Cs shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

“Waiver” attachment

The Registered User, as identified by the data released during the registration process on the Trading Platform and during theEnrolment that includes the acceptance of the Trading Cup T&Cs, of which this waiver is an integral and substantial attachment,

GIVEN THAT:

the Registered User has independently decided to join the Trading Cup that takes place according to the Trading Cup T&Cs for the purposes of this waiver, the same definitions in the Trading Cup T&Cs apply.

That said, the registered user, accepting Trading Cup T&Cs and the waiver:

DECLARES AND GUARANTEES

That the information provided during registration on the ANote Music Platform is truthful and correct.

To be aware that, in order to be entitled to receive the prizes in kind, according to the Final Ranking, it is necessary to perform at least 7 Transactions and to complete the Evaluation Form that will be sent after the closing of the Trading Cup.

To have nothing to claim if he/she will not be 1ston the Final Leaderboard or execute at least 7 trades during the Trading Cup, considering itself already fully satisfied by participation in the Trading Cup.

To be aware that the Performance is calculated as described in these Trading Cup T&Cs.

To be aware that, in so far as the object of this waiver is found to be, wholly or in part, untruthful and/or incorrect, ANote Music has the right to exclude the registered user from the Trading Cup.

To be aware that he/she will be able to claim only the consideration in kind according to Art. 9 and nothing else will have toclaim against the participation to the Trading Cup.

To know that the subject matter of the Trading Cup T&Cs and of this waiver, is governed by the Applicable Laws of the Grand Duchy of Luxembourg.

As reasoned above, THE REGISTERED USER IS COMMITTED TO HOLD HARMLESS AND INDEMNIFY, ANote Music, as well as all subjects involved in any way in the organization and/or management of the Trading Cup – from any request, claim, action, burden, cost, and/or prejudice of third parties, in any way connected to the Trading Cup and deriving from the conduct of the Registered User.

THE REGISTERED USER ALSO DECLARES:

That there’s no impediment to release for the present declaration;

To have been duly informed about the characteristics of the Trading Cup and to have freely decided to join the same;

To not having in place legal acts that, in any case, may affect the extent and effectiveness of this waiver.

 

Headquarter

9 Avenue des Hauts-Fourneaux
L-4362 Esch-sur-Alzette
Luxembourg

Representative Office

Music Innovation Hub
Via Bergognone 34 – 20144
Milano, Italy

CONTACT

Email us: info@anotemusic.com
You can use our contact form

Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Youtube
Consent to display content from Youtube
Vimeo
Consent to display content from Vimeo
Google Maps
Consent to display content from Google