Pictorial Press Limited – Standard Terms and Conditions of Supply:

1.

In these conditions:

"Borrower" means the person who accepts a quotation of the Lender for the loan of the Goods or whose order for the loan of the Goods is accepted by the Lender.

"Goods" means the goods which the Lender is to loan in accordance with these conditions.

"Lender" means Pictorial Press Limited.

"Conditions" means the Standard Terms and Conditions of supply set out in this document and (unless the context otherwise requires) includes any special terms and conditions agreed in writing between the Borrower and the Lender.

"Rights" means the right of the Borrower with the Lender’s consent for the Borrower to view and reproduce a positive image of the Goods for such period and at such price as the Lender shall agree on these Conditions.

2.

No variation to these Conditions shall be binding unless agreed in writing between the authorised representatives of the Lender and the Borrower and the Lender’s representatives are not authorised to make any representation concerning the Goods unless confirmed by the Lender in writing.

3.

No order submitted by the Borrower shall be deemed to be accepted by the Lender unless and until confirmed in writing by the Lenders’ authorised representatives.

4.

The price for the Rights is the Lender’s quoted price which is valid for 30 days only. The Lender reserves the right by giving notice to the Borrower any time before the delivery of the Goods to increase the price of the Rights due to any factor beyond the Lender’s control.

5.

The Borrower must pay the price for the Rights within 30 days of the date of the Lender’s invoice. Time for payment of the price shall be of the essence of the Contract between the Borrower and Seller.

6.

If the Borrower fails to make a payment on the due date then without prejudice to any other rights the Lender may have:-

(i) the Borrower will pay to the Lender interest (both before and after any Judgement) on the amount unpaid at the rate of 4 per cent per annum above Barclays Bank Plc Base Rate from time to time accruing daily until payment is made in full and/or at the Lender’s option £10 per week accruing daily for each item supplied by the Lender whichever is the higher; and

(ii) rights shall be immediately (together with all intellectual property rights) terminated; and

(iii) the Borrower must forthwith return the Goods to the Lender at the Borrower’s expense; and

(iv) account and pay over to the Lender to and for any monies payable to the Borrower in respect of any use or reproduction by the Borrower itself servants agents or otherwise of the Goods

7.

(i) All property title and rights of any nature whatsoever in the Goods shall remain in the Lender and the Borrower shall have no rights in the Goods other than the Rights; and

(ii) Before publication of the Goods and or before making any use of the Goods, the Borrower must and warrants that he shall, obtain all necessary consents from third parties for their publication and or use.

(iii) The Borrower shall ensure that any use or reproduction (including but without limitation the production of a positive image) of the Goods will bear on the finished product in legible and reasonable size letters the words "Pictorial Press" in a reasonably prominent and convenient position; and

(iv) The Borrower shall supply the Lender at no cost a copy of any and all publications or such other evidence of use or reproduction as the Lender in its absolute discretion shall decide.

8.

(i) The Borrower shall hold the Goods at all times as the Lender’s fiduciary agent and bailee and shall keep the Goods separate from those of the Borrower and third parties and properly stored protected and insured and identified as the Lender’s property

(ii) The Lender shall be entitled at any time to require the Borrower to deliver up the Goods to the Lender and if the Borrower fails to do so forthwith to enter upon any premises of the Borrower or any third party where the Goods are stored and repossess the Goods

(iii) The Borrower acknowledges that if it shall breach Clause 8(i) above then he holds the Goods without the Lender’s consent and as such may be liable to prosecution for theft or any other appropriate criminal offence

(iv) Without prejudice to any other rights the Lender may have, in the event of any Goods being lost stolen or damaged (from the date of despatch by the Lender) the Borrower shall pay to the Lender the sum of £400 in respect of and for each item of Goods which is lost stolen or damaged.

9.

The Borrower will not be entitled to reject the Goods as being defective in quality or condition or failing to correspond to specification or have any claim against the Lender unless the Borrower notifies (in writing) the Lender as to such defect or failure within 7 days from the date of delivery of the Goods.

10.

Where any valid claim in respect of any of the Goods which is based on any defect in the quality or condition of the Goods or their failure to meet specification is notified to the Lender in accordance with these conditions, the Lender shall be entitled to replace the Goods free of charge or at the Lender’s sole discretion refund to the Borrower the price of the Goods (or a proportionate part of the price) but the Lender shall have no further liability to the Borrower.

11.

Except in respect of death or personal injury caused by the Lender’s own negligence, the Lender shall not be liable to the Borrower by reason of any representation warranty (implied or otherwise) condition or other term or any duty at common law or under any express terms of the Contract with the Borrower, for any consequential loss or damage (whether for loss of profit or otherwise) costs expenses or other claims for consequential compensation whatsoever (and whether caused by the negligence of the Lender or its employees or agents or otherwise) which arise out of or in connection with the supply of the Goods or their use by the Borrower except as expressly provided in these conditions.

12.

The Borrower hereby indemnifies the Lender against any loss and damage resulting from any breach by the Borrower of the conditions and warranties contained herein.

13.

No waiver by the Lender of any breach of the Contract with the Borrower shall be considered as a waiver of any subsequent breach of the same or any other provision.