Terms and Conditions of Use

These Terms and Conditions of Use (the “Terms of Use”) apply to Island Oil (Holdings) Limited web sites located at www.island-oil.com and all associates sites of Island Oil (Holdings) Limited, namely www.petronav.com.cy, www.navtech-supplies.com , www.danaoscy.eu, www.phorcys.com.cy (collectively, the “Site”). The Site is the property of Island Oil (Holdings) Limited and its affiliates and/or subsidiary companies. BY USING THE SITE, YOU AGREE TO THESE TERMS OF USE, IN CASE YOU DO NOT AGREE, PLEASE DO NOT USE THE SITE. Island Oil (Holdings) Limited reserves the right, at its sole discretion, to change, modify, add or remove portions of this Policy, at any time. It is your responsibility to check this Policy periodically for changes. Your continued use of the Site following the posting of changes will mean that you accept and agree to the changes. As long as you comply with this Policy, Island Oil (Holdings) Limited grants you a personal, non-exclusive, non-transferable, limited privilege to enter and use the Site.

Content

All text, graphics, user interfaces, visual interfaces, photographs, trademarks, logos, sounds, music, artwork and computer code (collectively, “Content”), including but not limited to the design, structure, selection, coordination, expression, “look and feel” and arrangement of such Content, contained on the Site is owned, controlled by Island Oil (Holdings) Limited.

Your Use of the Site

You will not attempt to gain unauthorized access to any portion or feature of the Site, or any other systems or networks connected to the Site or to any Island Oil (Holdings) Limited server, or to any of the services offered on or through the Site, by hacking, password “mining” or any other illegitimate means. You will not reverse look-up, trace or seek to trace any information on any other user of or visitor to the Site or exploit the Site or any service or information made available or offered by or through the Site, in any way where the purpose is to reveal any information, including but not limited to personal identification or information, other than your own information, as provided for by the Site. You agree not to use any device, software or routine to interfere or attempt to interfere with the proper working of the Site or any transaction being conducted on the Site, or with any other person’s use of the Site. You will not forge headers or otherwise manipulate identifiers in order to disguise the origin of any service offered on or through the Site. You will not pretend that you are, or that you represent, someone else, or impersonate any other individual or entity. You will not use the Site or any Content for any purpose that is unlawful or prohibited by this Policy, or to solicit the performance of any illegal activity or other activity, which infringes the rights of Island Oil (Holdings) Limited or its affiliate and subsidiary companies.

Accounts, Passwords and Security

Certain features or services offered on or through the Site may require you to open an account (including setting up an Island Oil (Holdings) Limited ID and password). You are entirely responsible for maintaining the confidentiality of the information you hold for your account, including your password, and for any and all activity that occurs under your account as a result of your failing to keep this information secure and confidential. You agree to notify Island Oil (Holdings) Limited immediately of any unauthorized use of your account or password, or any other breach of security. You will not use anyone else’s Island Oil (Holdings) Limited ID, password or account at any time without the express permission and consent of the holder. Island Oil (Holdings) Limited cannot and will not be liable for any loss or damage arising from your failure to comply with these obligations.

Privacy

Island Oil (Holdings) Limited Data Protection Policy applies to the use of this Site, and its terms are made as part of this Policy by this reference. Additionally, by using the Site, you acknowledge and agree that Internet transmissions are never completely private or secure. You understand that any message or information you send to the Site may be read or intercepted by others.

Links to Other Sites

This Site may contain links to other independent third-party Web sites (“Linked Sites”). These Linked Sites are provided solely as a convenience to our visitors. Such Linked Sites are not under Island Oil (Holdings) Limited’s control, and Island Oil (Holdings) Limited is not responsible for and does not endorse the content of such Linked Sites, including any information or materials contained on such Linked Sites. You will need to make your own independent judgment regarding your interaction with these Linked Sites.

Disclaimers

ISLAND OIL (HOLDINGS) LIMITED DOES NOT PROMISE THAT THE SITE OR ANY CONTENT, SERVICE OR FEATURE OF THE SITE WILL BE ERROR-FREE OR UNINTERRUPTED, OR THAT ANY DEFECTS WILL BE CORRECTED, OR THAT YOUR USE OF THE SITE WILL PROVIDE SPECIFIC RESULTS. THE SITE AND ITS CONTENT ARE DELIVERED ON AN “AS-IS” AND “AS-AVAILABLE” BASIS. ALL INFORMATION PROVIDED ON THE SITE IS SUBJECT TO CHANGE WITHOUT NOTICE. ISLAND OIL (HOLDINGS) LIMITED CANNOT ENSURE THAT ANY FILES OR OTHER DATA YOU DOWNLOAD FROM THE SITE WILL BE FREE OF VIRUSES OR CONTAMINATION OR DESTRUCTIVE FEATURES. ISLAND OIL (HOLDINGS) LIMITED DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTIES OF ACCURACY, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. ISLAND OIL (HOLDINGS) LIMITED DISCLAIMS ANY AND ALL LIABILITY FOR THE ACTS, OMISSIONS AND CONDUCT OF ANY THIRD PARTIES IN CONNECTION WITH OR RELATED TO YOUR USE OF THE SITE AND/OR ANY ISLAND OIL (HOLDINGS) LIMITED SERVICES. YOU ASSUME TOTAL RESPONSIBILITY FOR YOUR USE OF THE SITE AND ANY LINKED SITES. YOUR SOLE REMEDY AGAINST ISLAND OIL (HOLDINGS) LIMITED FOR DISSATISFACTION WITH THE SITE OR ANY CONTENT IS TO STOP USING THE SITE OR ANY SUCH CONTENT. THIS LIMITATION OF RELIEF IS A PART OF THE BARGAIN BETWEEN THE PARTIES. The above disclaimer applies to any damages, liability or injuries caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft or destruction of or unauthorized access to, alteration of, or use, whether for breach of contract, tort, negligence or any other cause of action.

Limitation of Liability

Except where prohibited by law, in no event will Island Oil (Holdings) Limited be liable to you for any indirect, consequential, exemplary, incidental or punitive damages, including lost profits, even if Island Oil (Holdings) Limited has been advised of the possibility of such damages.

Indemnity

You agree to indemnify and hold Island Oil (Holdings) Limited, its officers, directors, shareholders, predecessors, successors in interest, employees, agents, subsidiaries and affiliates, harmless from any demands, loss, liability, claims or expenses (including attorneys’ fees), made against Island Oil (Holdings) Limited by any third party due to or arising out of or in connection with your use of the Site. Island Oil (Holdings) Limited reserves the right at all times to disclose any information that Island Oil (Holdings) Limited deems necessary to comply with any applicable law, regulation, legal process or governmental request. Island Oil (Holdings) Limited also may disclose your information when Island Oil (Holdings) Limited determines that applicable law requires or permits such disclosure. If Island Oil (Holdings) Limited does take any legal action against you as a result of your violation of this Policy, Island Oil (Holdings) Limited will be entitled to recover from you, and you agree to pay, all reasonable attorneys’ fees and costs of such action, in addition to any other relief granted to Island Oil (Holdings) Limited. You agree that Island Oil (Holdings) Limited will not be liable to you or to any third party for termination of your access to the Site as a result of any violation of the terms of this Policy.

Governing Law; Dispute Resolution

You agree that all matters relating to your access to or use of the Site, including all disputes, will be governed by the laws of the Republic of Cyprus without regard to conflicts of laws provisions. You agree to the personal jurisdiction by and venue in the District Court of Limassol and waive any objection to such jurisdiction or venue. Any claim under this Policy must be brought within one (1) year after the cause of action arises, or such claim or cause of action is barred. No recovery may be sought or received for damages other than out-of-pocket expenses, except that the prevailing party will be entitled to costs and attorneys’ fees. In the event of any controversy or dispute between Island Oil (Holdings) Limited and you arising out of or in connection with your use of the Site, the parties shall attempt, promptly and in good faith, to resolve any such dispute. If we are unable to resolve any such dispute within a reasonable time (not to exceed thirty (30) days), then either party may submit such controversy or dispute to mediation. If the dispute cannot be resolved through mediation, then the parties shall be free to pursue any right or remedy available to them under applicable law.

Miscellaneous

You will not use or export or re-export any Content or any copy or adaptation of such Content, in violation of any applicable laws or regulations, including without limitation Republic of Cyprus export laws and regulations. If any of the provisions of this Policy are held by a court or other tribunal of competent jurisdiction to be void or unenforceable, such provisions shall be limited or eliminated to the minimum extent necessary and replaced with a valid provision that best embodies the intent of this Policy, so that it remains in full force and effect. This Policy constitutes the entire agreement between you and Island Oil (Holdings) Limited with regard to your use of the Site, and any and all other written or oral agreements or understandings previously existing between you and Island Oil (Holdings) Limited with respect to such use are hereby superseded and cancelled. Other than as provided in a purchase agreement you enter into with Island Oil (Holdings) Limited, Island Oil (Holdings) Limited will not accept any counter-offers to these Terms of Use, and all such offers are hereby categorically rejected. Island Oil (Holdings) Limited’s failure to insist on or enforce strict performance of the terms of this Policy shall not be construed as a waiver by Island Oil (Holdings) Limited of any provision or any right it has to enforce the same, nor shall any course of conduct between Island Oil (Holdings) Limited and you or any other party be deemed to modify any provision of this Policy. This Policy shall not be interpreted or construed to confer any rights or remedies on any third parties.

Feedback and Information

Any feedback you provide at this site shall be deemed to be non-confidential. Island Oil (Holdings) Limited shall be free to use such information on an unrestricted basis. The information contained in this web site is subject to change without notice. All rights reserved. Island Oil (Holdings) Limited Ltd.. Limassol, Cyprus.