NDA Sample Philippines)
NDA Sample Philippines)
NDA Sample Philippines)
BETWEEN
AND
_______________________
This Confidentiality and Non-Disclosure Agreement (the “Agreement”) is made and entered
into this day of ____________, 200_, by and between;
and
WITNESSETH: That -
NOW, THEREFORE, for and in consideration of the premises and mutual obligations
contained herein, with the Parties intending to be legally bound, hereby agree as follows:
1. As used herein:
2. Should the Parties herein fail to pursue the Transaction, the Confidential Information
of the Disclosing Party shall be treated as confidential and safeguarded hereunder by
the Receiving Party for a period of ____ (_) years from the date of termination of this
Agreement.
3. The Receiving Party agrees that (1) any Confidential Information disclosed hereunder
shall be used by the Receiving Party, except as otherwise required by law, solely for
the purpose of considering and implementing the Transaction; (2) any Confidential
Information disclosed hereunder shall remain at all times the property of the
Disclosing Party; and (3) except as may be required by applicable law or legal
process, it will not distribute, disclose or disseminate such Confidential Information to
anyone, except its employees (including employees of its parent, subsidiaries and
affiliates) who have a need to know such Confidential Information for the purpose for
which it is disclosed, unless and until such time as:
(A) Such information is generally available to the public other than as a result of
a breach of this Agreement; or
(B) Such information is already in the possession of the Receiving Party or its
employees without restriction and prior to any disclosure hereunder; or
(C) Such information is or has been lawfully disclosed to the Receiving Party or
its employees by a third party, not employed by or otherwise affiliated with
the Disclosing Party, who is not known by the Receiving Party to be
prohibited by any contractual, legal, or fiduciary obligation from disclosing the
same; or
(E) The Disclosing Party has, expressly and in writing, authorized the
communication of the Confidential Information provided that the Receiving
Party has complied with the conditions that such authorization may contain;
or
In the event of any disclosure required by applicable law or legal process, the
Receiving Party shall:
(i) if not prohibited by the request or order, immediately inform the Disclosing
Party in writing of the existence, terms and circumstances surrounding the
request or order;
(ii) consult with the Disclosing Party on what steps should be taken to avoid or
restrict the disclosure of Confidential Information;
(iii) give the Disclosing Party the chance to defend, limit or protect itself against
disclosure; and
4. The Receiving Party shall employ reasonable safeguards against the unauthorized
disclosure of confidential and proprietary information and agrees that it shall protect
the Confidential Information of the Disclosing Party in the same manner and to the
same degree that it protects its own confidential and proprietary information (provided
that such measures are consistent with at least a reasonable degree of care). The
Receiving Party further agrees to advise all of its employees, agents or
representatives (and where proper, its assigns or successors-in-interest), having
access to Confidential Information of the obligations provided hereunder and to
ensure that they comply with them. The Receiving Party will be responsible to the
Disclosing Party for any breach of this Agreement by any person or entity to whom it
communicates the Confidential Information.
5. Except as may be required by law, each Party agrees not to disclose to any person
either the fact that discussions or negotiations are taking place concerning a possible
transaction or any of the terms, conditions or other facts with respect to any such
possible transaction, including the status thereof, without the prior written consent of
the other Parties. Further, the content and timing of any public announcement that is
not required by law relating to the Transaction must be previously agreed by the
Parties in writing. For public announcement required by law, the Parties will
endeavor, where possible, to consult each other about the content and timing of such
public announcement.
6. Violation of this Agreement compelling confidentiality shall render the offending Party
liable for all consequential damages suffered by the aggrieved Party on account of
such violation.
7. Any Confidential Information supplied to the Receiving Party by the Disclosing Party
prior to the execution of this Agreement shall be considered in the same manner and
be subject to the same treatment as the Confidential Information made available after
the execution of this Agreement.
9. Unless specially agreed in writing, neither Party makes any warranty as to the value
or accuracy or completeness of Confidential Information disclosed hereunder. Neither
Party shall be liable to the other for any expenses or losses, or action whatsoever or
howsoever incurred or undertaken by the Receiving Party in reliance on the
Confidential Information disclosed hereunder. The Disclosing Party does not
guarantee the accuracy or completeness of the Confidential Information and cannot
be held responsible for any errors or omissions it may contain.
10. It is understood that this Agreement is not to, and does not, obligate any Party to
enter into any further agreements or proceed with any possible relationship or other
transaction with the other Party as long as it does not contravene the provisions of
this Agreement. In the event that the other Party does contravene the provisions of
this Agreement and a further agreement is necessary, then such agreement shall
only relate to the contravention and its effect.
12. The Disclosing Party may, at any time, request the Receiving Party to return any
material containing, pertaining to or relating to the Confidential Information and may,
in addition, request the Receiving Party to furnish a written statement to the effect
that, upon such return, the Receiving Party has not retained in its possession, or
under its control, either directly or indirectly, any such material. As an alternative to
the return of the material contemplated herein, the Receiving Party shall, at the
instance of the Disclosing Party, destroy such material and furnish the Disclosing
Party with a written statement to the effect that such material has been destroyed.
The Receiving Party shall comply with the foregoing request within seven (7) days of
receipt of such a request.
13. The Parties agree and acknowledge that any breach of the obligations contained in
this Agreement will cause irreparable loss and would not be compensable by
monetary damages alone and, accordingly, the aggrieved Party shall, in addition to
the other remedies a party may have at law or in equity, be entitled to obtain a
specific performance or injunctive relief against the other party in respect of the
threatened breach of this Agreement or the continuation of any such breach.
15. The parties warrant and represent that their business activities are regulated by their
own internal business rules or Corporate Governance policies which are compliant
with each of their applicable laws.
To the extent applicable to the implementation of this Agreement, the parties will
comply with their respective internal business rules or Corporate Governance
policies. In this connection, the parties shall [a] advise or inform each other about any
violation, whether actual or potential, by any person of their respective and/or each
other’s policies in relation to this Agreement; [b] address or resolve such violation in
accordance with their own internal business rules or Corporate Governance policies;
and, [c] inform the other party of the action taken thereon. In the event that this
Agreement is later found to be violative of the internal business rules or Corporate
Governance policies of either party, the parties shall negotiate in good faith to amend
and revise this Agreement to make it compliant with the internal business rules or
Corporate Governance policies found to have been violated.
The parties finally agree that any dispute, breach or violation of this provision shall be
dealt with, remedied and/or resolved in accordance with the appropriate provisions of
this Agreement on dispute settlement.”
16. All disputes, controversies and claims arising out of or in connection with this
Agreement shall be filed exclusively with the proper court of Makati City, Philippines,
to the exclusion of all other venues and shall be governed and construed in
accordance with the laws of the Philippines without regard to its choice of law
provisions.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date
first set forth above.
______________________________ ____________________________
Name Name
____________________________ _______________________________
Name Name