The present terms and conditions govern your use of the entire aimia.com domain referred hereafter as the “Site”. Your use of the Site will constitute your agreement to comply with these terms and conditions. Aimia (“Aimia”) may modify these terms and conditions from time to time at its discretion and without notice, and such modifications shall be effective immediately upon posting of the modified version on the Site. Your continued use of any part of or the entire Site will constitute your agreement to any such modifications. Your use of the Site (including any submission of Submissions (defined below)) must comply with these terms and conditions, all applicable laws and Aimia policies.
Forward-looking statements are included on this site. These forward-looking statements are typically identified by the use of terms such as “outlook”, “guidance”, “target”, “forecast”, “assumption” and other similar expressions or future or conditional terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should”. Such statements may involve but are not limited to comments with respect to strategies, expectations, planned operations or future actions.
Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts, predictions or forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business and its corporate structure. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons, including without limitation, Aimia’s business, the results of operations therefrom and the risks associated therewith are significantly different following the sale of Aimia Canada Inc., the execution of the new strategic plan, investment risks, investment partnerships risks, reliance on key personnel, market price and trading volume of the common shares and preferred shares, industry competition, failure to protect intellectual property rights, technological disruptions and inability to use third-party software and outsourcing, regulatory matters – privacy, failure to safeguard databases, cyber security and consumer privacy, uncertainty of dividend declarations and/or payments on either common shares or preferred shares, tax losses, air, travel and hospitality industry disruptions, airline industry changes and increased airline costs, foreign operations, interest rate and currency fluctuations, retail market/economic conditions, legal proceedings, audit by tax authorities, as well as the other factors identified throughout this MD&A and throughout Aimia’s public disclosure records on file with the Canadian securities regulatory authorities. The forward-looking statements represent Aimia’s expectations as of a specific date, and are subject to change after such date. However, Aimia disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
Non-GAAP Financial Measures
In order to provide a better understanding of the financial results of Aimia, the following non-GAAP financial indicators are used in certain documents and information on this Site. GAAP means generally accepted accounting principles in Canada and represents International Financial Reporting Standards (“IFRS”). For a reconciliation of these measures to GAAP, please refer to the Summary of Consolidated Operating Results and Reconciliation of EBITDA, Adjusted EBITDA, Adjusted Net Earnings and Free Cash Flow included in Aimia’s public disclosure record on file with the Canadian securities regulatory authorities.
Adjusted EBITDA is not a measurement based on GAAP, is not considered an alternative to operating income or net earnings in measuring performance, and is not comparable to similar measures used by other issuers. We do not believe that Adjusted EBITDA has an appropriate directly comparable GAAP measure. As an alternative, we do however provide a reconciliation to operating income on page 21 of the Management Discussion & Analysis (MD&A) for the three and twelve months ended December 31, 2018. Adjusted EBITDA is used by management to evaluate performance, and to measure compliance with debt covenants. Management believes Adjusted EBITDA assists investors in comparing the company’s performance on a consistent basis without regard to depreciation and amortization and impairment charges related to non-financial assets, which are non-cash in nature and can vary significantly depending on accounting methods and non-operating factors such as historical cost. Unless otherwise noted, Adjusted EBITDA for the current and comparable periods exclude the results of discontinued operations.
Adjusted EBITDA is operating income adjusted to exclude depreciation, amortization and impairment charges related to non-financial assets, as well as adjusted for certain factors particular to the business, such as changes in deferred revenue and Future Redemption Costs. Adjusted EBITDA also includes distributions and dividends received or receivable from equity-accounted investments. Adjusted EBITDA should not be used as an exclusive measure of cash flow because it does not account for the impact of working capital growth, capital expenditures, debt repayments and other sources and uses of cash, which are disclosed in the statements of cash flows.
Adjusted Net Earnings
Adjusted Net Earnings is not a measurement based on GAAP, is not considered an alternative to net earnings in measuring profitability, and is not comparable to similar measures used by other issuers.
Adjusted Net Earnings provides a measurement of profitability calculated on a basis consistent with Adjusted EBITDA. Net earnings attributable to equity holders of the company are adjusted to exclude Amortization of Accumulation Partners’ contracts, customer relationships and technology, share of net earnings (loss) of equity accounted investments and impairment charges related to nonfinancial assets. Adjusted Net Earnings includes the Change in deferred revenue and Change in Future Redemption Costs, net of the income tax effect and non-controlling interest effect (where applicable) on these items at an entity level basis. Adjusted Net Earnings also includes distributions and dividends received or receivable from equity-accounted investments.
Adjusted Net Earnings per Common Share
Adjusted Net Earnings per Common Share is not a measurement based on GAAP, is not considered an alternative to Net Earnings per Common Share in measuring profitability per Common Share and is not comparable to similar measures used by other issuers. Adjusted Net Earnings per common share is presented for both continuing and discontinued operations.
Adjusted Net Earnings per Common Share provides a measurement of profitability per Common Share on a basis consistent with Adjusted Net Earnings. Calculated as Adjusted Net Earnings less dividends declared on preferred shares and cumulative undeclared dividends on preferred shares in the period divided by the number of weighted average number of basic and diluted common shares.
Free Cash Flow, Free Cash Flow before Dividends Paid and Free Cash Flow before Dividends paid per Common Share
Free Cash Flow and Free Cash Flow before Dividends Paid are non-GAAP measures and are not comparable to similar measures used by other issuers. They are used in order to provide a consistent and comparable measurement of cash generated from operations and used as indicators of financial strength and performance. Free Cash Flow is defined as cash flows from operating activities, as reported in accordance with GAAP, less adjustments for: (a) total capital expenditures as reported in accordance with GAAP; and (b) dividends paid.
Free Cash Flow before Dividends Paid is defined as cash flows from operating activities as reported in accordance with GAAP, less capital expenditures as reported in accordance with GAAP.
Free Cash Flow before Dividends Paid per Common Share is a measurement of cash flow generated from operations on a per share basis. It is calculated as follows: Free Cash Flow before Dividends Paid minus dividends paid on preferred shares and non-controlling interests over the weighted average number of common shares outstanding.
Rights in Site
The Site and all of its content are protected by copyrights, trade-mark, and other applicable intellectual property and proprietary laws, and is owned, controlled, and/or licensed by Aimia and/or its affiliates or licensors. The Site and its contents are made available solely for your own personal, non-commercial and lawful use. Nothing contained on the Site should be considered as granting you, by implication, estoppel, or otherwise, any license or right to use any trade-marks, logos, or other names contained in the Site without the expressed written consent of the applicable rights holder.
Use of the Site
You may not modify, post, reproduce, distribute, copy, publish, display, transmit, adapt or in any way exploit the contents of the Site. You will use the Site and any contents of the Site solely for lawful purposes. You may not use spiders, robots, data mining techniques or other automated devices or programs to catalog, download or otherwise reproduce, store or distribute available content. You may not take any action to interfere with, or disrupt, the Site or its content, circumvent security measures or attempt to exceed the limited authorization and access granted to you under these terms and conditions. No permission is given to you to link or provide references to our Site and to use any of Aimia’s icon, site address, and trademarks to provide such links or references, unless you have written agreement with Aimia’s permission.
Aimia may or may not request submissions, including but not limited to reader comments, questions, testimonials, unsolicited manuscripts, transparencies, illustrations or the like (collectively “Submission(s)”). By accessing the Site you acknowledge that you are responsible for whatever Submissions you submit, and you, not Aimia, have full responsibility for the Submissions, including their legality, reliability, appropriateness, originality and copyright. Aimia may welcome your comments on the Site however, whether in response to a specific request for Submissions or not, Aimia and its partners shall have no obligation to review or respond, in any manner, to said Submissions. Notwithstanding the foregoing, Aimia reserves the right to monitor, delete and/or refuse to transmit, move, or edit any material or information, in whole or in part, without notice to you that it deems in its sole discretion, unacceptable, undesirable or in violation of any law. Aimia and its partners do not accept any responsibility for the safe arrival of any Submissions. You agree that any Submission that you submit to the Site or to Aeroplan or its third party supplier will be treated as non-confidential and non-proprietary.
Any Submission you do make to Aimia, whether requested or not, shall become the exclusive property of Aimia. By submitting, such submissions, you grant Aimia, its affiliates and assignees a worldwide, royalty-free, perpetual, irrevocable, exclusive right and license to use, reproduce, publish, republish, distribute, edit, store and archive such Submissions in whole or in part in any form or medium whatsoever, without liability and without compensation of any sort. You further irrevocably waive any moral rights with respect to your Submissions, in connection with our exploitation of the rights granted to us in this Agreement. You agree that Aimia shall be free to use any ideas, inventions, concepts, know-how or techniques contained in such Submissions for any purpose whatsoever, including but not limited to developing and marketing products and services incorporating such Submissions. In making a Submission, you knowingly and expressly agree with these terms and conditions. Subject to the rights expressly granted to us, you retain ownership of the copyright in your Submissions.
Aimia uses commercially reasonable efforts to ensure that the information contained on this Site is accurate but does not in any way guarantee the accuracy, completeness or authenticity of such information. All information, including stock price information, is provided for informational purposes only, and is not intended for trading or other purposes. Please note that stock price information is at least 15 minutes delayed and that all times indicated are Eastern Time. Aimia assumes no responsibility with respect to the sequence, accuracy, or completeness of any such information and is not liable or responsible in any way for any delays, inaccuracies, or errors in any such information or in the transmission of any such information. The information contained on this Site is not to be relied upon for any trading, business or financial purpose.
Representations and Warranties
By using or accessing the Site or submitting any Submissions, you represent and warrant that you:
- are not breaching any other agreement or obligation or any provision of any law or regulation, or infringing on the intellectual property rights of any third party;
- have obtained all necessary approvals, consents and authorizations from any third party to submit any information, including Submissions or personal information, and to delete and/or modify such information;
have submitted or will submit, information, content or material which is true and accurate.
DISCLAIMER OF WARRANTIES & LIMITATION OF LIABILITY
AIMIA MAKES NO WARRANTY, EXPRESS OR IMPLIED CONCERNING THE CONTENT, SOFTWARE OR SERVICES AVAILABLE THROUGH THE SITE WHICH ARE PROVIDED “AS IS” AND “AS AVAILABLE”. AIMIA DOES NOT REPRESENT OR WARRANT THAT ACCESS TO THE SITE WILL BE UNINTERRUPTED OR THAT THERE WILL BE NO FAILURES, ERRORS, OMISSIONS OR LOSS OF TRANSMITTED INFORMATION, OR THAT NO VIRUSES WILL BE TRANSMITTED DUE TO THE EXPOSURE OR USE OF THE SITE.
AIMIA, ITS AFFILIATES, ITS LICENSORS AND RELATED COMPANIES, AND EACH OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, CONSULTANTS AND AGENTS EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING BUT NOT LIMITED TO WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, WARRANTIES OF TITLE AND NON-INFRINGEMENT AND WARRANTIES OF MERCHANTABILITY AND SHALL IN NO WAY BE RESPONSIBLE OR LIABLE FOR DIRECT, INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF BUSINESS PROFITS, TIME, INTERRUPTION, LOSS OF INFORMATION OR OTHER PECUNIARY LOSS) ARISING DIRECTLY OR INDIRECTLY FROM THE USE OF (OR FAILURE TO USE) OR RELIANCE ON THE SITES OR ANY OTHER SITE YOU MAY ACCESS THROUGH THIS SITE, INCLUDING BUT NOT LIMITED TO THE RELIANCE ON OR USE BY YOU OR ANY OTHER PERSON OF ANY OF THE INFORMATION, OPINIONS OR PRODUCTS ADVERTISED, EXPRESSED, OR OTHERWISE, THAT ARE CONTAINED IN THE SITE OR ANY OTHER SITE YOU MAY ACCESS THROUGH THIS SITE, EVEN IF ADVISED OF THE POSSIBLITY OF SUCH DAMAGES. YOU EXPRESSLY AGREE THAT USE OF THE SITE IS AT YOUR SOLE RISK.
We receive and store certain types of information whenever you interact with us. For example, like many web sites, we use “cookies,” and we obtain certain types of information when your web browser accesses aimia.com.
Links to Third Party Sites
Our Site provides you with convenient links and references to third-party web sites. The inclusion of any information, material, content or links on the Site should not be necessarily construed as an express nor an implied endorsement of any third party products or services. Unless otherwise indicated, these third party sites and content are provided for your convenience only and not maintained, operated or controlled by Aimia, and Aimia has not reviewed the content thereof, does not provide any representations or guarantees with respect thereto and takes no responsibility for the content thereof. You assume sole liability for the use or access of such third party sites and content.
Our Site also provides you convenient links and references to other web sites run by Aimia’s related companies. Terms and Conditions for the use of these web sites can be found on the respective web sites of each company. The content of these or the third party websites is in no way incorporated into this Site.
As a condition of your use of the Site and to the maximum extent permitted by applicable law, you will defend, indemnify and hold harmless Aimia, its affiliates, licensors, related companies, partners, suppliers and each of their respective directors, officers, employees, consultants and agents from and against all claims, liability, and expenses, including all legal fees and costs, arising out of: (a) your breach of any provision of these terms and conditions; (b) your use of the Site and any content contained in the Site; or (c) the submission of any Submissions on the Site made by you. Aimia reserves the right, in its sole discretion and at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you. You will co-operate as fully as reasonably required in the defense of any claim.
If you are dissatisfied with the Site or with these terms and conditions, your sole and exclusive remedy is to discontinue using the Site. In such an event, you agree to destroy all materials obtained by you from the Site and all copies thereof. These terms and conditions shall survive any such termination.
Governing Law and Other Terms
This Site originates in Canada. These terms and conditions shall be governed by the laws of Ontario and the laws of Canada applicable therein, without giving effect to their conflict of laws principles. You expressly consent to the exclusive forum, jurisdiction, and venue of the courts of Ontario and/or the Federal Court of Canada in Ontario, or any other judicial district or jurisdiction as Aimia may determine in any and all actions, disputes, or controversies relating hereto.
No waiver by either Aimia or you of any breach or default hereunder shall be deemed to be a waiver of any preceding or subsequent breach or default. If any provisions contained herein shall be determined to be void, invalid, or otherwise enforceable by a court of competent jurisdiction, such termination shall not affect the remaining provisions contained herein.
The logos of Aimia and its related companies are trademarks of such companies. The following words are trademarks of the corporations that are referred to and used as such in this Site. These trademarks are registered in various jurisdictions: AIR MILES® and SMARTJOURNEY®.
Any other trademarks, or corporate, trade or domain names used in this Site are the property of their owners.
Other product, services and company names mentioned herein or on the links hereto may be trademarks and/or service marks of their respective owners.
The terms and conditions of this legal notice constitute the entire agreement between Aimia and the users of this Site with respect to their use of this Site. Aimia’s failure to insist upon or enforce strict performance of any provision of that agreement shall not be construed as a waiver of any right on its part.