Two way Non Disclosure agreement for discussion of a Transaction. It imposes a mutual obligation of confidentiality on the parties who provide and receive information at the same time. This form is looser and easier to comply with by the parties.
The parties are in consideration of (the "Transaction"), and will each be providing the other with certain confidential information. This Agreement relates to information at any time and from time to time supplied by a party or by any of the Connected Persons orally, in writing or in any other form to the other or its Representatives in connection with the Transaction (the "Information").
In consideration of the mutual exchange and disclosure of the Information, each party undertakes in relation to the other's Information as follows. The undertakings in this letter are given to a party in its own favour and in favour of its respective Connected Persons: (a) to maintain the confidentiality of the Information and to use it exclusively for the Purpose and not to use the Information for any purpose other than to evaluate the Transaction; and (b) not to copy, reproduce or reduce to writing any part of the Information except as may be reasonably necessary for the Purpose; and (c) not to use, reproduce, transform, or store any of the Information in an externally accessible computer or electronic information retrieval system or transmit it except on a need to know basis.
To the extent that any Information is stored within a computer system or is stored in machine-readable form the receiving party shall ensure that the Information is secured so that access may not be gained and copies may not be made other than in accordance with this Agreement. The receiving party shall enforce the obligations set out in this clause at its own expense and at the request of the disclosing party insofar as any breach of those obligations relates to the unauthorised disclosure of the other's Information.
Non Disclosure Agreement,
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