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(b) use such Confidential Information solely for the purpose of evaluating a
possible business or collaborative relationship and providing any opinions and evaluations solely
to PartyA; and
(c) not disclose or permit the disclosure of such Confidential Information to
any persons other than its Representatives that have a need to know such Confidential
Information in connection with the Receiving Party's evaluation of a possible business
relationship with the Disclosing Party; provided, however, that (i) such Representatives agree
to treat such Confidential Information in accordance with the terms of this Agreement and (ii)
the Receiving Party shall be liable for any breach of this Agreement by any of its
Representatives. Further, PARTYB shall maintain a list of any and all parties provided any
Confidential Information on a need to know basis and shall provide same to PartyA if requested.
3. The obligations of the Receiving Party under Section 2 above shall not apply to
the extent that the Receiving Party can demonstrate that certain Confidential Information:
(a) was in the public domain prior to the time of its disclosure;
(b) entered the public domain after the time of its disclosure other than
through a breach of this Agreement by the Receiving Party or any of its Representatives;
4. In the event that the Receiving Party is requested or required (by deposition,
interrogatories, requests for information or documents in legal proceedings, subpoena, civil
investigative demand or otherwise) to disclose any of the Confidential Information, it shall
provide the Disclosing Party, to the extent practicable and permissible, with prompt written
notice of any such request or requirement so that the Disclosing Party may seek a protective
order or other appropriate remedy and/or, in its sole discretion, waive compliance with the terms
of this Agreement. If, in the absence of a protective order or other remedy or the receipt of a
waiver by the Disclosing Party, the Receiving Party is, nonetheless, by advice of its counsel,
legally compelled to disclose Confidential Information to any tribunal or else stand liable for
contempt or suffer other censure or penalty, it may, without liability hereunder, disclose to such
tribunal only that portion of the Confidential Information which such counsel advises is legally
required to be disclosed, provided that the Receiving Party exercises its best efforts to preserve
the confidentiality of the Confidential Information, including, without limitation, by cooperating
with the Disclosing Party to obtain an appropriate protective order or other reliable assurance
that confidential treatment will be accorded the Confidential Information by such tribunal.
5. The Receiving Party agrees that the Disclosing Party (or any third party entrusting
its own confidential information to the Disclosing Party) is and shall remain the exclusive owner
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of the information disclosed by the Disclosing Party and all patent, copyright, trademark, trade
secret and other intellectual property rights in such information or arising therefrom. No option,
license or conveyance of such rights to the Receiving Party is granted or implied under this
Agreement. If any such rights are to be granted to the Receiving Party, such grant shall be
expressly set forth in a separate written instrument.
6. Nothing herein shall obligate either Party to proceed with any additional
activities between the Parties, and each Party reserves the right, in its sole discretion, to
terminate the relationship contemplated by this Agreement. This Agreement does not
constitute a binding agreement to enter into any other agreement. The Receiving Party
understands that nothing herein requires the disclosure of any Confidential Information by the
Disclosing Party, which shall be disclosed, if at all, at the discretion of the Disclosing Party.
8. The Receiving Party understands and acknowledges that any and all information
contained in the Confidential Information is being provided without any representation or
warranty, express or implied, as to the accuracy or completeness of the Confidential Information
on the part of the Receiving Party or the Disclosing Party or any of its or their respective
Representatives and that the Receiving Party may solely rely on only such representations and
warranties as may be included in any agreement between the Parties, subject to such limitations
and restrictions as may be contained therein.
9. It is understood and agreed that money damages may not be a sufficient remedy
for any breach of this Agreement and that the Disclosing Party shall be entitled to seek specific
performance and injunctive or other equitable relief as a remedy for any such breach, and the
Receiving Party further agrees to waive any requirement for the security or posting of any bond
in connection with such remedy. Such remedy shall not be deemed to be the exclusive remedy
for breach of this Agreement but shall be in addition to all other remedies available at law or
equity to the Disclosing Party. This Agreement shall be governed by the laws of the State of
New York, without regard to conflicts of law principles thereof, and the Parties hereto agree to
submit to the exclusive jurisdiction of the state and federal courts located in the County of New
York and State of New York.
10. In the event of litigation relating to this Agreement, the non-prevailing Party shall
be liable, and pay to the prevailing Party, the reasonable legal fees such prevailing Party has
incurred in connection with such litigation, including any appeal therefrom.
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11. In the event that any provision of this Agreement shall be held to be invalid or
unenforceable by any court of competent jurisdiction, such provision shall be interpreted so as
to comply with the ruling of such court, and such holding shall in no way affect, invalidate or
render unenforceable any other provision hereof.
12. The Parties agree that they may disclose Confidential Information in furtherance
of their common legal interest in proceeding with the commercial project described above.
Such Confidential Information may be subject to the attorney-client privilege, work product
doctrine or other applicable privilege. The Parties understand and agree that it is their desire,
intention and mutual understanding that the sharing of such Confidential Information is not
intended to, and shall not, waive or diminish in any way the confidentiality of such material or
its continued protection under the attorney-client privilege, work product doctrine or other
applicable privilege. All Confidential Information provided by a Party that is entitled to
protection under the attorney-client privilege, work product doctrine or other applicable
privilege shall remain entitled to such protection under these privileges, this Agreement and the
common interest doctrine. Nothing in this Section 12 shall be interpreted to mean that a Party
hereto would be prevented from using Confidential Information in a legal proceeding against
the other Party hereto based upon a dispute arising out of this Agreement; provided that the
other Party has been notified in advance of such use or disclosure and been afforded sufficient
opportunity to seek and obtain confidential treatment by the court or other entity having
jurisdiction over the matter at hand.
13. The Receiving Party shall not transfer or assign any rights or obligations under
this Agreement without the prior written consent of the Disclosing Party, which consent may be
given or withheld in the Disclosing Party's sole and absolute discretion.
14. All waivers must be in writing and signed by the Party to be charged. Any waiver
or failure to enforce any provision of this Agreement on one occasion will not be deemed a
waiver of any other provision or of such provision on any other occasion.
16. This Agreement, which shall expire three (3) years from the date hereof, contains
the entire agreement between the Parties concerning the subject matter hereof, and no
modifications of this Agreement or waiver of the terms and conditions hereof will be binding
upon the Parties, unless approved in writing by each the Parties.
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IN WITNESS WHEREOF, the Parties have executed this Agreement effective as of the
date first stated above.
PARTYA LLC
By:_________________________________
Name:
Title: Chief Executive Officer
PartyB
By: _________________________________
Name:
Title: Managing Director