What undertaking should Information Receiving Party make while entering the Non-disclosure Agreement with an organisation where it is ought to conduct due diligence?
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2020
What undertaking should Information Receiving Party make while entering the Non-disclosure Agreement with an organisation where it is ought to conduct due diligence?
Answer & Explanation:
The information receiving party should make the below undertaking while entering the Non-disclosure agreement with the organization: to keep confidential and not disclose to any third party, copy, reproduce, adapt, divulge, publish or circulate any part of or the whole of any Confidential Information without the prior written consent of the Disclosing Party; and to restrict access to the Confidential Information disclosed to it under this Agreement to those of its employees and officers who need to know the same strictly for the Purpose; and not to use Confidential Information disclosed to it under this Agreement for any purpose other than the Purpose; and not to combine any part of or the whole of the Confidential Information with any other information; and not to disclose the whole or any part of the Confidential Information to any third party without: the prior written consent of the Disclosing Party and prior to disclosure to such third party procuring that the third party is bound by obligations which are no less onerous than those contained in this Agreement; and to procure that each employee and officer to whom Confidential Information is disclosed under this Agreement is, prior to such disclosure, informed of the terms of this Agreement and agrees to be bound by them; and to procure that the Confidential Information in its possession is stored securely and that physical access to it is controlled.
Topics: Due Diligence
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