Terms and Conditions of Membership

These terms and conditions were updated 5th May 2006 and replace all previous versions of the Naughty Diesel LImited - Viking Racing Club terms and conditions.

Naughty Diesel Limited (registered company number 503 9583) trading as Viking Racing Club, registered office 14 Market Place, Pocklington, York, YO42 2AR is a company that purchases, trains, races and sells race horses. It operates Viking Racing Club ("Racing Club") for the interest and benefit of its members ("Club Members"). These Terms and Conditions set out the terms of membership and the benefits available to You as a Club Member.

By submitting an application to become a Club Member You will be confirming your agreement to accept these Terms and Conditions of Membership. These may vary at anytime. Before submitting the application therefore, You should read the Terms and Conditions carefully.

1. Membership of the Racing Club

1.1 To subscribe for membership of the Racing Club for a period of 12 (twelve months) You must complete a Racing Club Application Form and submit it to Viking Racing Club together with the subscription fee, being £199 (one hundred and ninety nine pounds) for the first twelve month membership period. This fee may be reduced from time to time for the purposes of marketing. This figure may be discounted for promotions or special offers as promoted by Viking Racing Club from time to time.This must be paid in advance and membership is not valid until full payment is recieved.

1.2 The benefits of membership (as described in Condition 2 below) will only be available to You if your membership is a. paid in full and b. has not expired.

1.3 On receipt of Your application form and subscription fee Viking Racing Club will write to you and confirm either:

1.3.1 that you have been accepted into Racing Club and your payment cleared and the benefits of membership are immediately available to You; or

1.3.2 that you have not been accepted and that the benefits of membership are not available to You. Viking Racing Club will refund any payments to people it does not accept into the club.

1.4 The twelve month membership period shall begin when VikingRacing Club notifies You that the benefits of the Racing Club are available to You. Once You have received notification of membership Your subscription fee will not be refundable except in the circumstances set out in Condition 1.7 and Condition 4.1.

1.5 Viking Racing Club will write to You before the end of the first twelve month membership period to invite You to apply to renew Your membership of the Racing Club and notify You of any changes to the subscription fee and the terms and conditions of membership that will apply to any renewed membership period.

1.6 Viking Racing Club reserves the right to decline any application to renew Your membership of the Racing Club if You have abused or misused any of the benefits available to You. Viking Racing Club reserve the right to not renew any membership if it believes that continued membership is not in the best interests of the club or its members.

1.7 From time to time Viking Racing Club may want to vary the Terms and Conditions of membership to the Racing Club and will notify You of any proposed changes. If You do not wish to accept the new terms and conditions You have the right to cancel Your membership and receive a refund of a proportionate part of the subscription fee for the unexpired period of Your membership. However, these changes must affect your continued membership.

1.8 Viking Racing Club reserves teh right to terminate an individuals membership at anytime if it is deemed in teh best interests of the club, its members or racing to do so.

2. Benefits of subscription to the Racing Club

2.1 In return for You paying the subscription fee to Viking Racing Club, Viking Racing Club will make available to you the benefits set out in this Condition 2 together with any other membership benefits that may be detailed on the Racing Club website or notified to you in writing from time to time.

2.2 Viking Racing Club will operate a premium rate telephone line to provide racing tips to non Members. This line will be made available exclusively to Club Members via a non premium rate number - (national rate) but the cost of any calls to the line are not included in the subscription fee and will be charged to You by Your network provider. The revenue generated by the tipping line less the costs incurred in operating it will be paid to Viking Racing Club and may be used for investment or distribution by the Racing Club. Members are given an 0870/0871 number to access this service. Please check with your phone operator that you are happy with the cost of calling 0870/0871 numbers. Viking Racing Club provides and oppinion and offers no guarantees of winning or success/

2.3 Viking Racing Club will maintain the Racing Club website to update Club Members on Racing Club news and opportunities. This incorporates racingdiary.co.uk. Viking Racing Club expresses oppinions and can not be held responsible for results or any betting losses incurred. VIking Racing Club passes on information in good faith relating to its horses but can not be held responsible if any information is incorrect.

2.4 From time to time Club Members will be able to attend stable visits and be admitted to the owner enclosures at racing events. Such opportunities cannot be made available to all Club Members and will be allocated to Club Members by ballot.

2.5 Viking Racing Club reserves the right to suspend or withdraw one or more of the benefits of the Racing Club if You abuse or misuse any of the benefits available to You or if Viking Racing Club is unable to continue providing those benefits, either temporarily or permanently, due to circumstances beyond its reasonable control.

3. On Investment

3.1 Membership of the Racing Club is for the purposes of sharing in the enjoyment of the Viking Racing Clubs horses and subscribing to the benefits of the Racing Club and not for investment. The subscription fee is payable in consideration of the benefits offered by the Racing Club as described in Condition 2 above. You will have no legal or beneficial interest in the ownership of Viking Racing Club or any horses owned by Viking Racing Club or in any proceeds arising from a race or sale of such horses. Becoming a Club Member does not mean that You become a shareholder or partner of Viking Racing Club and You will have no legal entitlement to any "dividend" or other financial return as a result of Your membership of the Racing Club.

3.2 From time to time but not earlier than two years from the time that the benefits of the Racing Club first become available Viking Racing Club will review the success of the horses owned by Viking Racing Club and any profits made by Viking Racing Club. Viking Racing Club may at its absolute discretion decide to award a bonus payment or a whole or partial rebate of a subscription fee to the then current Club Members or it may offer the then current Club Members the opportunity to renew their membership to the Racing Club at a reduced or zero fee. In any event, Viking Racing Club will either award a bonus payment and/or make some form of discretionary award, allowance or concession to the then current Club Members on the second or any subsequent anniversary of the time that the benefits of the Racing Club first become available if the conditions in Clause 3.3 are satisfied. Such award, allowance or concession will be equal for all Club Members and will be at a level set by Viking Racing Club at its absolute discretion.

3.3 The conditions which must be satisfied for a payment, award, allowance or concession to be made by Viking Racing Club under Clause

3.3 on the second or any subsequent anniversary of the time that the benefits of the Racing Club first become available are that Viking Racing Club:

3.3.1 has 7 (seven) or more horses in training at that time; and

3.3.2 has made net profit in excess of £750,000 (seven hundred and fifty thousand pounds) for the relevant period.
For these purposes:
"net profit" means the revenue received by Viking Racing Club from the tipping line, prize money and sale of horses less all costs of administering, operating and managing the Racing Club (including, but not limited to, purchase and livery of horses and the fees and expenses of the Racing Club administrator, jockeys and trainers) during the relevant period. In the case of the second anniversary of the time that the benefits of the Racing Club first become available, the costs deductible will include any such costs incurred prior to the date the benefits of the Racing Club first become available).
"relevant period" means, in the case of the second anniversary, the previous 2 (two) years and, in the case of any subsequent anniversary, the previous 12 (twelve) months.

3.4 Viking Racing Club may buy or sell horses at anytime without consultation with members. Horses may be given breaks from racing for their benefit at anytime. Horses may be moved between trainers at anytime. The mamangement of Viking Racing Club shall act in the best interests of the club in making such decisions, but their decisions are final.

4. Discontinuation of the Racing Club

4.1 If the Racing Club is discontinued at any time in the future Viking Racing Club will notify You as soon as reasonably practicable of the intended discontinuation. Following discontinuation of the benefits of membership of the Racing Club will cease to be available and Viking Racing Club will repay to You a proportionate part of the subscription fee for the unexpired period of Your membership. Should Naughty Diesel become insolvent then this may not be possible.

5. General

5.1 All decisions relating to the purchase, training and sale of horses and when and where horses will compete will be at the absolute discretion of Viking Racing Club and the trainers appointed by it.

5.2 Membership of the Racing Club is personal to You and You will not be entitled to sell or transfer Your membership of the Racing Club.

5.3 These Terms and Conditions will be governed by and construed in accordance with English Law.

6. Special Terms

6.1 Members have no authority to enter into any contract or agreement on behalf of Viking Racing Club or Naughty Diesel Limited.

6.2 Members agree to adhere by all rules of racing and racecourses and shall act in a manner that will not bring the club into disrepute.

6.3 Viking Racing Club reserves the right at anytime to terminate any individual's membership without any warning should the member in any way act against the best interests of the club or bring the club or racing into disripute.