Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG and the FRBNY and dated as of September 25, 2008 (the “Nondisclosure Agreement”) or any Permitted Transferee of the FRBNY and any Observers who executed a joinder to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”)); provided, however, that such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to the extent that (i) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment of the Company or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request. (b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be provided, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), to the extent required by, and in accordance with the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNY).
Appears in 4 contracts
Sources: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG and the FRBNY and dated as of September 25, 2008 (the “Nondisclosure Agreement”) or any Permitted Transferee of the FRBNY and any Observers who executed a joinder to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”)); provided, however, that such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to the extent that (i) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment of the Company or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a7.05(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a7.05(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a7.05(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO Member and the Company hereby agrees to provide, or cause to be provided, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), to the extent required by, and in accordance with the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNY).
Appears in 4 contracts
Sources: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
Confidentiality; Access to Information. (a) Each Preferred Member Purchaser acknowledges that the information being Made Available to it by the Sellers and their Affiliates (or their respective agents or representatives) is subject to the terms of a confidentiality agreement dated November 12, 2009 between Purchaser and Honeywell (the “Confidentiality Agreement”), the terms of which are incorporated herein by reference. Effective upon, and only upon, the Closing, the confidentiality obligations of Purchaser under the Confidentiality Agreement will terminate only with respect to information relating to the Business; and Purchaser acknowledges that any and all other information provided or Made Available to it by the Sellers and their Affiliates (or their respective agents or representatives) concerning the Sellers and their Affiliates (other than the FRBNY which is bound Business) will remain subject to the terms and conditions of the Confidentiality Agreement after the Closing and that any information provided by that certain Nondisclosure Agreement by or on behalf of the Sellers and among AIG their Affiliates pursuant to Section 6.4(d) below will be subject to the terms and conditions of the Confidentiality Agreement.
(b) Between the date hereof and the FRBNY and dated as of September 25Closing Date, 2008 (the “Nondisclosure Agreement”) or any Permitted Transferee of the FRBNY each Seller shall, subject to compliance with applicable Laws and any Observers who executed a joinder Contracts to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company which such Seller or any of its AffiliatesAffiliates (including the Purchased Entities) is a party, or their respective affairs provide Purchaser access and the opportunity to make such investigation of the management, employees, representatives (including outside attorneys and accountants), properties, businesses and operations of the Purchased Assets and Purchased Entities, and such examination of the books, records and other than disclosure to such Preferred Member’s advisors responsible for matters relating to documents and the Company and who financial condition of the Business (including the Purchased Entities), as it reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))requests; provided, however, that such Preferred Member no Seller nor any of their Affiliates shall be required to disclose to Purchaser or any agent or representative of its Authorized Representatives may make Purchaser any information to the extent it is advised by counsel that doing so would reasonably be expected to result in a loss of the ability to successfully assert a claim of privilege (including without limitation, the attorney-client and work product privileges), unless Purchaser agrees to enter into a valid joint defense agreement or similar arrangement to preserve such disclosureprivilege, or to the extent such disclosure would violate any applicable Law or contractual requirement (provided that the Sellers shall use commercially reasonable efforts to obtain consents or approvals in order to disclose such information). Any confidential information provided pursuant to this Section 6.4(b) shall be kept confidential by Purchaser and will be subject to applicable Law, the terms of the Confidentiality Agreement and Section 6.4(a). Any such investigation and examination will be conducted under reasonable circumstances after appropriate advance notice and in a manner so as not to unreasonably interfere with the conduct of the Business. No investigation pursuant to this Section 6.4(b) shall affect any representation or warranty by the Sellers in this Agreement or any condition to the obligations of Purchaser hereunder.
(c) As reasonably requested by Purchaser, from the date hereof until the Closing, the Sellers shall provide Purchaser with such financial and other information with respect to the Business and the Purchased Entities, to the extent that such information is reasonably available to Sellers, and access to personnel of Sellers or any of their Affiliates and will use commercially reasonable efforts to provide access to Sellers’ outside accountants and other advisors, subject to customary indemnification agreements and other customary requirements imposed by such accountants and other advisors, for Purchaser to:
(i) identify the information being disclosed is Purchased Assets with a view towards granting security interests in connection with such Preferred Member’s tax returns or concerns collateral after the tax structure or tax treatment of the Company or its transactions, Closing; and
(ii) such disclosure is consider whether Purchaser will need to any officer, director, shareholder or partner prepare audited financial statements of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party Business in connection with any proposed Transfer of Securitiesfuture offering memoranda, which Permitted Transferee registration statement, or Third Party is subject periodic report prepared by Purchaser or its Affiliates.
(d) Subject to Purchaser’s existing confidentiality obligations, and Honeywell’s right to have Purchaser enter into a new confidentiality agreement in respect of Seller information not related to the Business on terms reasonably acceptable to Honeywell (which in any event will include customary carve-outs for the benefit disclosure of the Company confidential information as required by applicable Laws) prior to complying with any terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member 6.4(d) (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) abovecollectively, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be provided, to the Comptroller General of the United States (the “Comptroller GeneralConfidentiality Obligations”), upon requestreasonable advanced written notice, access the Sellers shall use commercially reasonable efforts to informationprovide Purchaser and its representatives with such financial and other information relating to the Business (including information of the Sellers or any of their Affiliates to the extent required by Regulation S-X (including Rules 3-05 and 3-10), dataGAAP, schedules, books, accounts, financial records, reports, files, electronic communications, IFRS or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System applicable accounting standards (the “Board of GovernorsApplicable Requirements”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343)), to the extent required bysuch information is reasonably available to Sellers or their Subsidiaries (the “Carve-Out Financial Information”), and shall otherwise reasonably cooperate with Purchaser, in each case as reasonably requested by Purchaser and its Affiliates in order for Sensata NV and its Subsidiaries to prepare and audit any financial statements with respect to the Business, including in accordance with the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 Applicable Requirements (the “Helping Families ActCarve-Out Financial Statements”). In furtherance of and without limiting the foregoing, the parties agree as follows:
(i) Not more than thirty (30) days after the date of this Agreement, the Sellers shall appoint an individual with an appropriate level of financial expertise (the “HON Audit Manager”), to serve as the principal point of contact for Purchaser, its Affiliates, and its and their employees and other representatives (including outside accountants and legal counsel) (“Purchaser Personnel”) with respect to the matters set forth in this Section 6.4(d). The parties hereby acknowledge HON Audit Manager will be fully dedicated to the tasks required pursuant to this Section 6.4(d) in order to coordinate and respond to the requests of Purchaser Personnel which are made pursuant to this Section 6.4(d) and otherwise facilitate the Sellers’ compliance with their obligations under this Section 6.4(d). The HON Audit Manager will liaise and coordinate as necessary and appropriate with chief financial officers, site controllers, and other appropriate personnel or advisors (including outside accountants and legal counsel) of Honeywell and its Subsidiaries (“Honeywell Personnel”) in response to the reasonable requests of Purchaser Personnel under this Section 6.4(d). To the extent the HON Audit Manager is reasonably available, responsive, and cooperative, Purchaser and its representatives shall address all requests for information, inquiries, and other contact regarding the matters described in this Section 6.4(d) to the HON Audit Manager; provided that to the Helping Families Act provides thatextent reasonably necessary or appropriate in connection with the matters described in this Section 6.4(d), the HON Audit Manager will arrange for, and the Purchaser Personnel shall have, at reasonable times and upon reasonable notice, access to appropriate Honeywell Personnel, subject to certain exceptions enumerated the Confidentiality Obligations and, in 31 U.S.C. § 714(c)(4the case of outside advisors, subject to customary indemnification and confidentiality agreements and other customary requirements imposed by such accountants or other advisors.
(ii) At Purchaser’s reasonable request, Seller and Purchaser will cooperate and use their commercially reasonable efforts to enable Purchaser to engage audit personnel of PricewaterhouseCoopers LLP (as amended“PwC”) who have a history of performing audit reviews for Honeywell (subject to Purchaser executing any customary indemnification and confidentiality agreements and other customary requirements imposed by PwC and reasonably acceptable to Purchaser) to assist Purchaser with the review of the Carve-Out Financial Information, to conduct an audit of the Carve-Out Financial Statements, and to perform any other services otherwise required by Sensata NV or any of its Subsidiaries in connection with this Section 6.4(d).
(iii) From the date of appointment of the HON Audit Manager through the date of the Closing, the Sellers shall use commercially reasonable efforts to provide Carve-Out Financial Information, including pro forma financial information of the type previously Made Available to Purchaser in respect of the year ended December 31, 2009 (subject to the Confidentiality Obligations), an officer and shall otherwise reasonably cooperate with Purchaser Personnel as reasonably requested by Purchaser and its Affiliates in order to analyze and evaluate whether Sensata NV and its Subsidiaries will have a requirement to prepare and audit any Carve-Out Financial Statements, and in order to enable PwC to perform such audit procedures (including, if requested by PwC, a physical inventory count at year-end) as would be required or an employee requested by PwC in connection with any audit of the U.S. Government Accountability Office Carve-Out Financial Statements.
(iv) Upon Purchaser’s reasonable advanced written notice (at any time prior to or after Closing) that it, as determined in its sole discretion, expects to require Carve-Out Financial Statements (the “GAOAudit Assistance Request”), the Sellers shall use commercially reasonable efforts to provide Carve-Out Financial Information (subject to the Confidentiality Obligations), and shall otherwise reasonably cooperate with Purchaser Personnel as reasonably requested by Purchaser and its Affiliates in order to prepare and audit the Carve-Out Financial Statements, and in order to complete such preparation and audit within applicable time frames under the Applicable Requirements. In connection with the preparation of the Carve-Out Financial Statements, to the extent that both Seller Personnel and Purchaser Personnel can, through the exercise of their commercially reasonable efforts, accomplish the same requirement or task, Purchaser shall cause Purchaser Personnel to perform such requirement or task in order to avoid undue burden on Seller Personnel.
(v) Notwithstanding anything herein to the contrary, Sellers shall use commercially reasonable efforts to obtain representation letters and similar documents from the applicable Seller Personnel as may be required in connection with the preparation and audit of Carve-Out Financial Statements; provided that such obligation shall be inapplicable to the extent that, in the reasonable judgment of such personnel, the representations in such letter or document are not factually accurate in all material respects. Subject to Sellers’ compliance with the covenants of this Section 6.4(d), Purchaser agrees that the inability or failure, in whole or in part, of Sensata NV or any of its Subsidiaries to obtain any such representation letters or similar documents shall not in and of itself create any Liability on the part of the Sellers or constitute a breach of any representation, warranty, covenant or agreement of the Sellers contained in this Agreement.
(including vi) For the Comptroller Generalavoidance of doubt, the parties acknowledge and agree that the costs and expenses incurred by Sellers or their Subsidiaries, and personnel of Sellers or any of their Affiliates in providing Carve-Out Financial Information and cooperating in the preparation of the Carve-Out Financial Information shall be fully reimbursed by Purchaser at Seller’s actual cost.
(vii) may not disclose The Sellers’ obligations under this Section 6.4(d) shall terminate upon the filing of a form 10-K by Sensata NV that includes its audited financial statements for the calendar year after the calendar year in which the Closing occurs, so long as the Sellers have complied with their obligations set forth in this Section 6.4(d) through such date.
(e) From and after the date hereof until the Closing, Honeywell shall deliver to any person outside Purchaser as soon as practicable after they become available a profit and loss statement and statement of net assets for each month ending after the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) date of the May 29, 2010 Balance Sheet, prepared from the books and records of the Sellers (as amendedit relates to the Business) and maintained the Purchased Entities, as confidential by and only to the Board extent customarily prepared in the ordinary course of Governors or a Federal Reserve bank (including the FRBNY)business consistent with Honeywell’s past practice.
Appears in 3 contracts
Sources: Asset and Stock Purchase Agreement (Sensata Technologies Holding N.V.), Asset and Stock Purchase Agreement (Sensata Technologies B.V.), Asset and Stock Purchase Agreement (Sensata Technologies Holding N.V.)
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG and the FRBNY and dated as of September 25, 2008 (the “Nondisclosure Agreement”) or any Permitted Transferee of the FRBNY FRBNY) and any Observers who executed a joinder to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”)); provided, however, that that, such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to the extent that (i) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment of the Company or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a7.05(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a7.05(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a7.05(a). In connection with any disclosure described in clause clauses (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO Member and the Company hereby agrees to provide, or cause to be provided, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), to the extent required by, and in accordance with the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve reserve bank (including the FRBNY). The FRBNY hereby agrees promptly after the date hereof (i) to inform the GAO in writing of the Nondisclosure Agreement, pursuant to which (and subject to the terms thereof) the FRBNY has agreed to treat as confidential certain information of the AIG Member and/or the Company and their respective Affiliates, and (ii) in consultation with the AIG Member and the Company, to take reasonable steps to establish protocols with the GAO governing the receipt, handling and dissemination by the GAO of confidential information of the AIG Member, the Company and their respective subsidiaries. In addition to the foregoing, it is acknowledged that the AIG Member and/or the Company separately has sought assurances from the Comptroller General that the GAO will follow applicable laws and regulations, or other protocols that may be agreed to between the GAO and the AIG Member and/or the Company, relating to the disclosure of confidential information obtained directly or indirectly from the AIG Member and/or the Company, and has taken or will take steps, as the case may be, to enter into a written agreement regarding those assurances and/or other protocols that may be agreed to between the GAO and the AIG Member and/or the Company.
Appears in 3 contracts
Sources: Purchase Agreement, Purchase Agreement, Purchase Agreement (American International Group Inc)
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG and the FRBNY and dated as of September 25, 2008 (the “Nondisclosure Agreement”) or any Permitted Transferee of the FRBNY FRBNY) and any Observers who executed a joinder to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”)); provided, however, that that, such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to the extent that (i) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment of the Company or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause clauses (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be provided, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), to the extent required by, and in accordance with the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve reserve bank (including the FRBNY). The FRBNY hereby agrees promptly after the date hereof (i) to inform the GAO in writing of the Nondisclosure Agreement, pursuant to which (and subject to the terms thereof) the FRBNY has agreed to treat as confidential certain information of the AIG Member, AIRCO and/or the Company and their respective Affiliates, and (ii) in consultation with the AIG Member and the Company, to take reasonable steps to establish protocols with the GAO governing the receipt, handling and dissemination by the GAO of confidential information of the AIG Member, AIRCO, the Company and their respective subsidiaries. In addition to the foregoing, it is acknowledged that the AIG Member, AIRCO and/or the Company separately has sought assurances from the Comptroller General that the GAO will follow applicable laws and regulations, or other protocols that may be agreed to between the GAO and the AIG Member and/or the Company, relating to the disclosure of confidential information obtained directly or indirectly from the AIG Member, AIRCO and/or the Company, and has taken or will take steps, as the case may be, to enter into a written agreement regarding those assurances and/or other protocols that may be agreed to between the GAO and the AIG Member, AIRCO and/or the Company.
Appears in 2 contracts
Sources: Purchase Agreement, Purchase Agreement (American International Group Inc)
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG SPAC and the FRBNY and dated as Company acknowledge that they are parties to the Confidentiality Agreement, the terms of September 25, 2008 (which are incorporated herein by reference. In the “Nondisclosure Agreement”event that this Section 8.6(a) or the Confidentiality Agreement conflicts with any Permitted Transferee other covenant or agreement contained herein or any other Transaction Agreement that contemplates the disclosure, use or provision of information or otherwise, then the FRBNY Confidentiality Agreement shall govern and any Observers who executed a joinder control to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise extent of such conflict.
(b) The Company Shareholder agrees that it shall be bound by the Nondisclosure terms of the Confidentiality Agreement, agrees to keep confidentialas if it was the Company party thereto, and acknowledges that it is, and shall remain until Closing, subject to the terms of the Confidentiality Agreement, which are incorporated herein by reference.
(c) Notwithstanding the foregoing, none of the Parties will make any public announcement or issue any public communication regarding this Agreement, any other Transaction Agreement or the Transactions or any matter related to the foregoing, without the prior written consent of (i) the Company, in the case of a public announcement by SPAC or its Affiliates, (ii) SPAC, in the case of a public announcement by the Company or its Affiliates and (iii) the Company and SPAC, in the case of a public announcement by PubCo (such consents, in each case, not to disclose be unreasonably withheld, conditioned or delayed), except: (A) for routine disclosures to Governmental Entities made by the Company in the ordinary course of business; (B) for routine disclosures to Governmental Entities made by SPAC in the ordinary course of business; (C) if SPAC determines in good faith that such announcement or other communication is necessary or advisable in connection with any Permitted SPAC Change in Recommendation, in which case SPAC shall, to the extent permitted by Applicable Law, first allow such other Parties to review such announcement or communication and have the opportunity to comment thereon and SPAC shall consider such comments in good faith; (D) if such announcement or other communication is required by Applicable Law, in which case the disclosing Party shall, to the extent permitted by Applicable Law, first allow such other Parties to review such announcement or communication and have the opportunity to comment thereon and the disclosing Party shall consider such comments in good faith; (E) if such announcement or other communication is made in connection with SPAC or the Company’s fundraising or other investment related activities, in each case, in connection with the Transactions, and is made to such Person’s direct and indirect investors or potential investors or financing sources subject to an obligation of confidentiality to the disclosing Party; (F) to the extent such announcements or other communications are consistent with information previously disclosed in a public statement, any matter press release or other communication previously approved or made in accordance with Section 8.4 or this Section 8.6(c); (G) announcements and communications to Governmental Entities in connection with registrations, declarations and filings relating to the Company or Transactions required to be made under this Agreement; and (H) communications to employees of the Group Companies, and to customers and suppliers of the Group Companies for purposes of seeking any of its Affiliatesconsents and approvals required in connection with the Transactions, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating and then only to the extent such communications are consistent with information previously disclosed in a public statement, press release or other communication previously approved or made in accordance with Section 8.4.
(d) Subject to the Confidentiality Agreement, the Company will afford SPAC and its financial advisors, accountants, counsel and other representatives who reasonably have a need to know such information reasonable access during normal business hours, upon reasonable notice, to the books, records and personnel of the Group Companies during the period prior to the Closing to obtain all information concerning the business, including the status of business development efforts, properties, results of operations and personnel of the Group Companies, as SPAC may reasonably request in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))connection with the consummation of the Transactions; provided, however, that any such Preferred Member access shall be (i) conducted in a manner not to unreasonably interfere with the businesses or operations of the Company and (ii) limited as required by the Company’s policies or Applicable Law in connection with COVID-19 (including any of COVID-19 Measures). Subject to the Confidentiality Agreement, SPAC will afford the Company and its Authorized Representatives may make such disclosurefinancial advisors, subject to applicable Lawunderwriters, accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the extent books, records and personnel of SPAC during the period prior to the Closing to obtain all information concerning the business, including properties, results of operations and personnel of SPAC, as the Company may reasonably request in connection with the consummation of the Transactions; provided, however, that any such access shall be (i) conducted in a manner not to unreasonably interfere with the information being disclosed is businesses or operations of SPAC and (ii) limited as required by SPAC’s policies or Applicable Law in connection with such Preferred Member’s tax returns or concerns COVID-19 (including any COVID-19 Measures). Notwithstanding the tax structure or tax treatment of foregoing, neither the Company nor SPAC, nor any of their respective Subsidiaries or its transactionsRepresentatives, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise shall be required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be providedprovided to, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to party any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), information if and to the extent required bydoing so would (A) violate any Applicable Law to which the Company or SPAC, and as applicable, is subject, (B) result in accordance the disclosure of any trade secrets of third parties in breach of any Contract with the provisions ofsuch third-party, 31 U.S.C. § 714(d)(3(C) (as added by section 801 violate any legally binding obligation of the Helping Families Save Their Homes Act of 2009Company or SPAC, Pub. L. No. 111as applicable, with respect to confidentiality, non-22 disclosure or privacy or (D) jeopardize protections afforded to the “Helping Families Act”)). The parties hereby acknowledge that Company or SPAC, as applicable, under the Helping Families Act provides attorney-client privilege or the attorney work product doctrine (provided that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4case of each of clauses (A) through (as amendedD), an officer the Company and SPAC shall each use reasonable best efforts to (x) provide such access as can be provided (or an employee of otherwise convey such information regarding the U.S. Government Accountability Office applicable matter as can be conveyed) without violating such privilege, doctrine, Contract, obligation or Applicable Law and (the “GAO”y) (including the Comptroller General) may not disclose to any person outside the GAO provide such information obtained in audits a manner without violating such privilege, doctrine, Contract, obligation or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNYApplicable Law).
Appears in 2 contracts
Sources: Agreement and Plan of Reorganization (Artemis Strategic Investment Corp), Agreement and Plan of Reorganization (Artemis Strategic Investment Corp)
Confidentiality; Access to Information. (a) Each Preferred Member The parties acknowledge that the information being made available to them by Chemtura, the other Sellers and their respective Affiliates (other than or their respective agents or representatives) is subject to the FRBNY which is bound by that certain Nondisclosure Agreement terms of a confidentiality agreement dated November 14, 2013 by and among AIG between Platform Specialty Products Corporation and the FRBNY and dated as of September 25, 2008 Chemtura (the “Nondisclosure Confidentiality Agreement”) or any Permitted Transferee of the FRBNY and any Observers who executed a joinder to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound the terms of which are incorporated herein by the Nondisclosure Agreement, agrees to keep confidentialreference. Effective upon, and not only upon, the Closing, the Confidentiality Agreement will terminate with respect to disclose to any Person, any matter information relating to the Company Business; provided that Purchaser acknowledges that any and all other information provided or any made available to it or its representatives concerning Chemtura and its Affiliates will remain subject to the terms and conditions of the Confidentiality Agreement after the Closing and that the standstill obligations with respect to Chemtura and the non-solicitation obligations with respect to the employees of Chemtura and its Affiliates, or their respective affairs (Affiliates other than disclosure to such Preferred Member’s advisors responsible for matters relating to Transferred U.S. Employees and Transferred Non-U.S. Employees shall survive the Company and who reasonably need to know such information Closing in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”)); provided, however, that such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to accordance with the extent that (i) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment terms of the Company or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may requestConfidentiality Agreement.
(b) Each From the date hereof until the Closing Date or earlier termination of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be provided, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343)this Agreement, to the extent required bypermitted by Law, Chemtura shall, and shall cause the other Sellers and the Transferred Entities to, provide Purchaser and its representatives with such reasonable access to the facilities of the Business, its principal personnel, the books and records pertaining to the Business as Purchaser may reasonably request in accordance writing in order to effectuate the transactions contemplated hereby, without charge to Purchaser (but otherwise at Purchaser’s expense), provided that (i) certain materials subject to confidentiality obligations or attorney client privilege, or which may not be shared with the provisions ofother party pursuant to applicable Law, 31 U.S.C. § 714(d)(3have not been and will not be so delivered or made available to Purchaser or its representatives, (ii) neither Purchaser nor any of its representatives shall conduct any invasive investigation, testing or sampling of any environmental media, and (as added by section 801 iii) Purchaser agrees that such access will be requested in writing with reasonable advance notice and exercised during normal business hours and without causing unreasonable interference with the operations of the Helping Families Save Their Homes Act of 2009Business. Purchaser and its representatives shall not contact any suppliers, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides thatcustomers, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer landlords and other business relations or an employee employees of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNY)Business without Chemtura’s prior written consent.
Appears in 2 contracts
Sources: Stock and Asset Purchase Agreement (Chemtura CORP), Stock and Asset Purchase Agreement (Platform Specialty Products Corp)
Confidentiality; Access to Information. (a) Each Preferred Member (other than The Company and Parent each acknowledge that it is a party to the FRBNY Confidentiality Agreement, the terms of which is bound are incorporated herein by that certain Nondisclosure Agreement by and among AIG reference, and the FRBNY Company and dated as of September 25, 2008 (the “Nondisclosure Agreement”) or any Permitted Transferee of the FRBNY and any Observers who executed a joinder Parent each agree to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise be bound by the Nondisclosure Confidentiality Agreement. Following Closing, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any Confidentiality Agreement shall be superseded in its entirety by the provisions of its Affiliates, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))this Agreement; provided, however, that such Preferred Member or if for any of its Authorized Representatives may make such disclosure, subject to applicable Law, reason this Agreement is terminated prior to the extent that Closing, the Confidentiality Agreement shall nonetheless continue in full force and effect in accordance with its terms. Beginning on the date hereof and ending on the fifth anniversary of this Agreement (but perpetually with respect to any trade secrets), each Party agrees to maintain in confidence any non-public information received from the other Parties, and to use such non-public information only for purposes of consummating the Transactions. Such confidentiality obligations will not apply to: (i) the information being disclosed is in connection with such Preferred Member’s tax returns which was known to one Party or concerns the tax structure its agents or tax treatment of representatives prior to receipt from the Company or its transactionsthe Company Stockholders, on the one hand, or Parent or Merger Sub, on the other hand, as applicable; (ii) such disclosure information which is or becomes generally known to any officer, director, shareholder the public without breach of this Agreement or partner an existing obligation of such Preferred Member, confidentiality; (iii) the information being disclosed is otherwise generally available acquired by a Party or their respective agents or representatives from a third party who was not bound to the public, an obligation of confidentiality; (iv) information developed by such disclosure is requested by Party independently without any governmental body, agency, official or authority having jurisdiction over such Preferred Member, reliance on the non-public information received from any other Party; (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise disclosure required by applicable Law Applicable Legal Requirement or statute stock exchange rule; or (vi) such disclosure is made consented to any Permitted Transferee in writing by Parent or Third Party Merger Sub (in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit case of the Company with terms no less protective than this Section 7.07(a). Prior Stockholders and, prior to making any disclosure described in clause (ivthe Closing, the Company) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company (in seeking any protective order the case of Parent or other appropriate arrangement as the Board of Managers may requestMerger Sub).
(b) Each Notwithstanding the foregoing, none of the AIG MemberParties will make any public announcement or issue any public communication regarding this Agreement, AIRCO and any other Transaction Agreement or the Transactions or any matter related to the foregoing, without the prior written consent of the Company, in the case of a public announcement by Parent, or Parent, in the case of a public announcement by the Company hereby agrees to provideStockholders or the Company (such consents, or cause in either case, not to be providedunreasonably withheld, to the Comptroller General of the United States (the “Comptroller General”conditioned or delayed), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, except: (i) if such announcement or other paperscommunication is required by Applicable Legal Requirements, things or property that relate to assistance provided by in which case the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343)disclosing Party shall, to the extent required bypermitted by Applicable Legal Requirements, first allow such other Parties to review such announcement or communication and have the opportunity to comment thereon and the disclosing Party shall consider such comments in good faith; (ii) in the case of the Company or the Company Stockholders, Parent and their respective Affiliates, if such announcement or other communication is made in connection with fundraising or other investment related activities and is made to such Person’s direct and indirect investors or potential investors or financing sources subject to an obligation of confidentiality; (iii) announcements and communications regarding this Agreement and the Transactions to the Group Companies’ stockholders, Affiliates, and its and their respective directors, officers, employees, managers and advisors, in each case subject to an obligation of confidentiality; (iv) to the extent such announcements or other communications contain only information previously disclosed in a public statement, press release or other communication previously approved in accordance with Section 7.4 or this Section 7.5(b); (v) announcements and communications to Governmental Entities in connection with registrations, declarations and filings relating to the provisions of, 31 U.S.C. § 714(d)(3Transactions required to be made under this Agreement; and (vi) (as added by section 801 communications to customers and suppliers of the Helping Families Save Their Homes Act Group Companies for purposes of 2009seeking any consents and approvals required in connection with the Transactions.
(c) The Company will afford Parent and its financial advisors, Pub. L. No. 111-22 (accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides thatproperties, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended)books, an officer or an employee records and personnel of the U.S. Government Accountability Office (Company during the “GAO”) (period prior to the Closing to obtain all information concerning the business, including the Comptroller Generalstatus of business development efforts, properties, results of operations and personnel of the Company, as Parent may reasonably request in connection with the consummation of the Transactions; provided, however, that (i) may any such access shall be conducted in a manner not to interfere with the businesses or operations of the Company, (ii) the Company shall not be required to provide access to or to disclose to information where such access or disclosure would (x) contravene any person outside the GAO information obtained in audits Applicable Legal Requirement, Order or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential Contract of any Group Companies or, if determined by the Board Company in good faith after consulting with counsel, reasonably be expected to result in antitrust risk for the Company, (y) reasonably be expected to violate or result in a loss or impairment of Governors any attorney client, legal or work product privilege or (z) expose the Company to risk of liability for disclosure of sensitive or Personal Information, and (iii) the Company shall not be required to provide such access if the Company in good faith determines, in light of any Pandemic Measures, that such access would reasonably be expected to jeopardize the health and safety of any Group Company personnel or representatives.
(d) Parent will afford the Company and its financial advisors, underwriters, accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the properties, books, records and personnel of Parent during the period prior to the Closing to obtain all information concerning the business, including properties, results of operations and personnel of Parent, as the Company may reasonably request in connection with the consummation of the Transactions; provided, however, that any such access shall be conducted in a Federal Reserve bank (including manner not to interfere with the FRBNY)businesses or operations of Parent.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (Revolution Medicines, Inc.), Merger Agreement (CM Life Sciences III Inc.)
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG SPAC and the FRBNY and dated as Company acknowledge that they are parties to the Confidentiality Agreement, the terms of September 25, 2008 (which are incorporated herein by reference. In the “Nondisclosure Agreement”event that this Section 6.05(a) or the Confidentiality Agreement conflicts with any Permitted Transferee other covenant or agreement contained herein or any other Transaction Agreement that contemplates the disclosure, use or provision of information or otherwise, then the Confidentiality Agreement shall govern and control to the extent of such conflict.
(b) Notwithstanding the foregoing, none of the FRBNY and Parties will make any Observers who executed a joinder public announcement or issue any public communication regarding this Agreement, any other Transaction Agreement or the Transactions or any matter related to the Nondisclosure Agreement foregoing, without the prior written consent of the Company, in the case of a public announcement by SPAC or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs SPAC, in the case of a public announcement by the Company or its Affiliates (such consents, in either case, not to be unreasonably withheld, conditioned or delayed), except: (i) if such announcement or other than disclosure communication is required by Applicable Legal Requirements, in which case the disclosing Party shall, to the extent permitted by Applicable Legal Requirements, first allow such other Parties to review such announcement or communication and have the opportunity to comment thereon and the disclosing Party shall consider such comments in good faith; (ii) if such announcement or other communication is made in connection with SPAC or the Company’s fundraising or other investment related activities, in each case, in connection with the Transactions, and is made to such Preferred MemberPerson’s advisors responsible for matters direct and indirect investors or potential investors or financing sources subject to an obligation of confidentiality to the disclosing Party; (iii) to the extent such announcements or other communications are consistent with information previously disclosed in a public statement, press release or other communication previously approved or made in accordance with Section 6.04 or this Section 6.05(b); (iv) announcements and communications to Governmental Entities in connection with registrations, declarations and filings relating to the Transactions required to be made under this Agreement; and (v) communications to employees of the Group Companies, and to customers and suppliers of the Group Companies for purposes of seeking any consents and approvals required in connection with the Transactions.
(c) Subject to the Confidentiality Agreement, the Company will afford SPAC and its financial advisors, accountants, counsel and other representatives who reasonably have a need to know such information reasonable access during normal business hours, upon reasonable notice, to the books, records and personnel of the Group Companies during the period prior to the Closing to obtain all information concerning the business, including the status of business development efforts, properties, results of operations and personnel of the Group Companies, as SPAC may reasonably request in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))connection with the consummation of the Transactions; provided, however, that any such Preferred Member access shall be (i) conducted in a manner not to unreasonably interfere with the businesses or any operations of the Company and (ii) limited as required by the Company’s policies or Applicable Legal Requirements in connection with COVID-19 (including the COVID-19 Measures). Subject to the Confidentiality Agreement, SPAC will afford the Company and its Authorized Representatives may make such disclosurefinancial advisors, subject to applicable Lawunderwriters, accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the extent books, records and personnel of SPAC during the period prior to the Closing to obtain all information concerning the business, including properties, results of operations and personnel of SPAC, as the Company may reasonably request in connection with the consummation of the Transactions; provided, however, that any such access shall be (i) conducted in a manner not to unreasonably interfere with the information being disclosed is businesses or operations of SPAC and (ii) limited as required by SPAC’s policies or Applicable Legal Requirements in connection with such Preferred Member’s tax returns or concerns COVID-19 (including the tax structure or tax treatment of COVID-19 Measures). Notwithstanding the foregoing, neither the Company nor SPAC, nor any of their respective Subsidiaries or its transactionsRepresentatives, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise shall be required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be providedprovided to, to the Comptroller General of the United States other party any information (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”i) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), if and to the extent required bydoing so would (A) violate any Applicable Legal Requirement to which the Company or SPAC, and as applicable, is subject, (B) result in accordance the disclosure of any trade secrets of third parties in breach of any Contract with the provisions ofsuch third-party, 31 U.S.C. § 714(d)(3(C) (as added by section 801 violate any legally binding obligation of the Helping Families Save Their Homes Act of 2009Company or SPAC, Pub. L. No. 111as applicable, with respect to confidentiality, non-22 disclosure or privacy or (D) jeopardize protections afforded to the “Helping Families Act”)). The parties hereby acknowledge that Company or SPAC, as applicable, under the Helping Families Act provides attorney-client privilege or the attorney work product doctrine (provided that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4case of each of clauses (A) through (as amendedD), an officer the Company and SPAC shall each use reasonable best efforts to (x) provide such access as can be provided (or an employee of otherwise convey such information regarding the U.S. Government Accountability Office applicable matter as can be conveyed) without violating such privilege, doctrine, Contract, obligation or Applicable Legal Requirement and (the “GAO”y) (including the Comptroller General) may not disclose to any person outside the GAO provide such information obtained in audits a manner without violating such privilege, doctrine, Contract, obligation or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNYApplicable Legal Requirement).
Appears in 1 contract
Sources: Merger Agreement (10X Capital Venture Acquisition Corp)
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG SPAC and the FRBNY and dated as Company acknowledge that they are parties to the Confidentiality Agreement, the terms of September 25, 2008 (which are incorporated herein by reference. In the “Nondisclosure Agreement”event that this Section 6.5(a) or the Confidentiality Agreement conflicts with any Permitted Transferee other covenant or agreement contained herein or any other Transaction Agreement that contemplates the disclosure, use or provision of information or otherwise, then the Confidentiality Agreement shall govern and control to the extent of such conflict.
(b) Notwithstanding the foregoing, none of the FRBNY and Parties will make any Observers who executed a joinder public announcement or issue any public communication regarding this Agreement, any other Transaction Agreement or the Transactions or any matter related to the Nondisclosure Agreement foregoing, without the prior written consent of the Company, in the case of a public announcement by SPAC or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs SPAC, in the case of a public announcement by the Company or its Affiliates (such consents, in either case, not to be unreasonably withheld, conditioned or delayed), except: (i) for routine disclosures to Governmental Entities made by the Company in the ordinary course of business; (ii) if such announcement or other than disclosure communication is required by Applicable Law, in which case the disclosing Party shall, to the extent permitted by Applicable Law, first allow such other Parties to review such announcement or communication and have the opportunity to comment thereon and the disclosing Party shall consider such comments in good faith; (iii) if such announcement or other communication is made in connection with SPAC or the Company’s fundraising or other investment related activities, in each case, in connection with the Transactions, and is made to such Preferred MemberPerson’s advisors responsible for matters direct and indirect investors or potential investors or financing sources subject to an obligation of confidentiality to the disclosing Party; (iv) to the extent such announcements or other communications are consistent with information previously disclosed in a public statement, press release or other communication previously approved or made in accordance with Section 6.4 or this Section 6.5(b); (v) announcements and communications to Governmental Entities in connection with registrations, declarations and filings relating to the Transactions required to be made under this Agreement; and (vi) communications to employees of the Group Companies, and to customers and suppliers of the Group Companies for purposes of seeking any consents and approvals required in connection with the Transactions, and then only to the extent such communications are consistent with information previously disclosed in a public statement, press release or other communication previously approved or made in accordance with Section 6.4.
(c) Subject to the Confidentiality Agreement, the Company will afford SPAC and its financial advisors, accountants, counsel and other representatives who reasonably have a need to know such information reasonable access during normal business hours, upon reasonable notice, to the books, records and personnel of the Group Companies during the period prior to the Closing to obtain all information concerning the business, including the status of business development efforts, properties, results of operations and personnel of the Group Companies, as SPAC may reasonably request in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))connection with the consummation of the Transactions; provided, however, that any such Preferred Member access shall be (i) conducted in a manner not to unreasonably interfere with the businesses or any operations of the Company and (ii) limited as required by the Company’s policies or Applicable Law in connection with COVID-19 (including the COVID-19 Measures). Subject to the Confidentiality Agreement, SPAC will afford the Company and its Authorized Representatives may make such disclosurefinancial advisors, subject to applicable Lawunderwriters, accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the extent books, records and personnel of SPAC during the period prior to the Closing to obtain all information concerning the business, including properties, results of operations and personnel of SPAC, as the Company may reasonably request in connection with the consummation of the Transactions; provided, however, that any such access shall be (i) conducted in a manner not to unreasonably interfere with the information being disclosed is businesses or operations of SPAC and (ii) limited as required by SPAC’s policies or Applicable Law in connection with such Preferred Member’s tax returns or concerns COVID-19 (including the tax structure or tax treatment of COVID-19 Measures). Notwithstanding the foregoing, neither the Company nor SPAC, nor any of their respective Subsidiaries or its transactionsRepresentatives, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise shall be required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be providedprovided to, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to party any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), information if and to the extent required bydoing so would (A) violate any Applicable Law to which the Company or SPAC, and as applicable, is subject, (B) result in accordance the disclosure of any trade secrets of third parties in breach of any Contract with the provisions ofsuch third-party, 31 U.S.C. § 714(d)(3(C) (as added by section 801 violate any legally binding obligation of the Helping Families Save Their Homes Act of 2009Company or SPAC, Pub. L. No. 111as applicable, with respect to confidentiality, non-22 disclosure or privacy or (D) jeopardize protections afforded to the “Helping Families Act”)). The parties hereby acknowledge that Company or SPAC, as applicable, under the Helping Families Act provides attorney-client privilege or the attorney work product doctrine (provided that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4case of each of clauses (A) through (as amendedD), an officer the Company and SPAC shall each use reasonable best efforts to (x) provide such access as can be provided (or an employee of otherwise convey such information regarding the U.S. Government Accountability Office applicable matter as can be conveyed) without violating such privilege, doctrine, Contract, obligation or Applicable Law and (the “GAO”y) (including the Comptroller General) may not disclose to any person outside the GAO provide such information obtained in audits a manner without violating such privilege, doctrine, Contract, obligation or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNYApplicable Law).
Appears in 1 contract
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG and the FRBNY and dated as of September 25, 2008 (the “Nondisclosure Agreement”) or any Permitted Transferee of the FRBNY and any Observers who executed a joinder to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need the Parent acknowledges that it is a party to know such information the Confidentiality Agreement, the terms of which are incorporated herein by reference. Following Closing, the Confidentiality Agreement shall be superseded in order its entirety by the provisions of this Agreement with respect to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))the obligations of the Company and the Parent; provided, however, that such Preferred Member or if for any of its Authorized Representatives may make such disclosure, subject to applicable Law, reason this Agreement is terminated prior to the extent that Closing, the Confidentiality Agreement shall nonetheless continue in full force and effect in accordance with its terms. Beginning on the date hereof and ending on the second anniversary of this Agreement, each Party agrees to maintain in confidence any non-public information received from the other Parties, and to use such non-public information only for purposes of consummating the Transactions. Such confidentiality obligations will not apply to: (i) the information being disclosed is in connection with such Preferred Member’s tax returns which was known to one Party or concerns the tax structure its agents or tax treatment of representatives prior to receipt from the Company or its transactionsthe Company Stockholders, on the one hand, or Parent, Merger Sub I or Merger Sub II, on the other hand, as applicable; (ii) such disclosure information which is or becomes generally known to any officer, director, shareholder the public without breach of this Agreement or partner an existing obligation of such Preferred Member, confidentiality; (iii) the information being disclosed is otherwise generally available acquired by a Party or their respective agents or representatives from a third party who was not bound to the public, an obligation of confidentiality; (iv) information developed by such disclosure is requested by Party independently without any governmental body, agency, official or authority having jurisdiction over such Preferred Member, reliance on the non-public information received from any other Party; (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise disclosure required by applicable Law Applicable Legal Requirement or statute stock exchange rule; or (vi) such disclosure is made consented to any Permitted Transferee in writing by Parent, Merger Sub I or Third Party Merger Sub II (in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit case of the Company with terms no less protective than this Section 7.07(a). Prior Stockholders and, prior to making any disclosure described in clause (ivthe Closing, the Company) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company (in seeking any protective order the case of Parent, Merger Sub I or other appropriate arrangement as the Board of Managers may requestMerger Sub II).
(b) Each Notwithstanding the foregoing, none of the AIG MemberParties will make any public announcement or issue any public communication regarding this Agreement, AIRCO and any other Transaction Agreement or the Transactions or any matter related to the foregoing, without the prior written consent of the Company, in the case of a public announcement by Parent, or Parent, in the case of a public announcement by the Company hereby agrees to provideStockholders or the Company (such consents, or cause in either case, not to be providedunreasonably withheld, to the Comptroller General of the United States (the “Comptroller General”conditioned or delayed), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, except: (i) if such announcement or other paperscommunication is required by Applicable Legal Requirements, things or property that relate to assistance provided by in which case the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343)disclosing Party shall, to the extent required bypermitted by Applicable Legal Requirements, first allow such other Parties to review such announcement or communication and have the opportunity to comment thereon and the disclosing Party shall consider such comments in good faith; (ii) in the case of the Company or the Company Stockholders, Parent and their respective Affiliates, if such announcement or other communication is made in connection with fundraising or other investment related activities and is made to such Person’s direct and indirect investors or potential investors or financing sources subject to an obligation of confidentiality; (iii) announcements and communications regarding this Agreement and the Transactions to the Group Companies’ stockholders, Affiliates, and its and their respective directors, officers, employees, managers and advisors, in each case subject to an obligation of confidentiality; (iv) to the extent such announcements or other communications contain only information previously disclosed in a public statement, press release or other communication previously approved in accordance with Section 6.3 or this Section 6.4(b); (v) announcements and communications to Governmental Entities in connection with registrations, declarations and filings relating to the provisions of, 31 U.S.C. § 714(d)(3Transactions required to be made under this Agreement; and (vi) (as added by section 801 communications to customers and suppliers of the Helping Families Save Their Homes Act Group Companies for purposes of 2009seeking any consents and approvals required in connection with the Transactions.
(c) The Company will afford, Pub. L. No. 111-22 (and will cause the “Helping Families Act”)). The parties hereby acknowledge that other Group Companies to afford, Parent and its financial advisors, accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the Helping Families Act provides thatproperties, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended)books, an officer or an employee records and personnel of the U.S. Government Accountability Office (Company and the “GAO”) (other Group Companies during the period prior to the Closing to obtain all information concerning the business, including the Comptroller Generalstatus of the C Acquisition, business development efforts, properties, results of operations and personnel of the Company and the other Group Companies, as Parent may reasonably request in connection with the consummation of the Transactions; provided, however, that (i) may any such access shall be conducted in a manner not to interfere with the businesses or operations of the Group Companies, (ii) no Group Company shall be required to provide access to or to disclose to information where such access or disclosure would (x) contravene any person outside the GAO information obtained in audits Applicable Legal Requirement, Order or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential Contract of any Group Companies or, if determined by the Board Company in good faith after consulting with counsel, reasonably be expected to result in antitrust risk for the Company, (y) reasonably be expected to violate or result in a loss or impairment of Governors any attorney-client, legal or work product privilege or (z) expose a Federal Reserve bank Group Company to risk of liability for disclosure of sensitive or Personal Information and (iii) no Group Company shall be required to provide such access if the Company in good faith determines, in light of any Pandemic Measures, that such access would reasonably be expected to jeopardize the health and safety of any Group Company personnel or representatives.
(d) Parent will afford the Company and its financial advisors, underwriters, accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the properties, books, records and personnel of Parent during the period prior to the Closing to obtain all information concerning the business, including properties, results of operations and personnel of Parent, as the FRBNY)Company may reasonably request in connection with the consummation of the Transactions; provided, however, that (i) any such access shall be conducted in a manner not to interfere with the businesses or operations of Parent, (ii) the Parent shall not be required to provide access to or to disclose information where such access or disclosure would (x) contravene any Applicable Legal Requirement, Order or Contract of the Parent, (y) reasonably be expected to violate or result in a loss or impairment of any attorney-client, legal or work product privilege or (z) expose the Parent to risk of liability for disclosure of sensitive or Personal Information and (iii) the Parent shall not be required to provide such access if the Parent in good faith determines, in light of any Pandemic Measures, that such access would reasonably be expected to jeopardize the health and safety of the Parent’s personnel or representatives.
Appears in 1 contract
Confidentiality; Access to Information. (a) Any confidentiality agreement or letter of intent previously executed by the parties shall be superseded in its entirety by the provisions of this Agreement. Each Preferred Member party agrees to maintain in confidence any non-public information received from the other party, and to use such non-public information only for purposes of consummating the transactions contemplated by this Agreement. Such confidentiality obligations will not apply to (other than the FRBNY i) information which is bound by that certain Nondisclosure Agreement by and among AIG and the FRBNY and dated as of September 25, 2008 (the “Nondisclosure Agreement”) or any Permitted Transferee of the FRBNY and any Observers who executed a joinder was known to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, one party or their respective affairs agents prior to receipt from the other party; (other than ii) information which is or becomes generally known; (iii) information acquired by a party or their respective agents from a third party who was not bound to an obligation of confidentiality; and (iv) disclosure required by law. In the event this Agreement is terminated as provided in Article 8 hereof, each party will return or cause to such Preferred Member’s advisors responsible for matters relating be returned to the Company other all documents and who reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”)); provided, however, that such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to other material obtained from the extent that (i) the information being disclosed is other in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment of the Company or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may requestTransaction contemplated hereby.
(b) Each of the AIG MemberAccess to Information.
(i) Stand Giant will afford Taxus Pharma and its financial advisors, AIRCO accountants, counsel and the Company hereby agrees to provideother representatives reasonable access during normal business hours, or cause to be providedupon reasonable notice, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedulesproperties, books, accountsrecords and personnel of Stand Giant during the period prior to the Closing to obtain all information concerning the business, financial recordsincluding the status of product development efforts, reportsproperties, filesresults of operations and personnel of Stand Giant, electronic communications, as Taxus Pharma may reasonably request. No information or other papers, things or property that relate to assistance provided knowledge obtained by the FRBNY Taxus Pharma in any investigation pursuant to this Section 6.8 will affect or be deemed to modify any action taken by representation or warranty contained herein or the Board of Governors conditions to the obligations of the Federal Reserve System parties to consummate the Transaction.
(the “Board of Governors”ii) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343)Taxus Pharma will afford Stand Giant and its financial advisors, underwriters, accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the extent required byproperties, books, records and personnel of Taxus Pharma during the period prior to the Closing to obtain all information concerning the business, including the status of product development efforts, properties, results of operations and personnel of Taxus Pharma, as Stand Giant may reasonably request. No information or knowledge obtained by Stand Giant in accordance with any investigation pursuant to this Section 6.8 will affect or be deemed to modify any representation or warranty contained herein or the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 conditions to the obligations of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (parties to consummate the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNY)Transaction.
Appears in 1 contract
Sources: Share Exchange Agreement (Taxus Pharmaceuticals, Inc.)
Confidentiality; Access to Information. (a) Each Preferred Member (other than Except for the FRBNY which is bound information disclosed by that certain Nondisclosure Agreement by and among AIG and the FRBNY and dated as Corporation in its report on the Form 8-K filed with the SEC pursuant to the Securities Exchange Act of September 251934 on January 24, 2008 2018 (the “Nondisclosure Agreement”"Form 8-K") and subsequent disclosures that may that be required to be made pursuant to applicable securities laws (which may require the filing of this Settlement Agreement with the SEC), the Parties agree that they will not otherwise publicize or any Permitted Transferee disclose or cause or knowingly permit or authorize the publicizing or disclosure of the FRBNY and any Observers who executed a joinder to the Nondisclosure contents of this Settlement Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by of the Nondisclosure Agreement, agrees negotiations leading up to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs it (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter hereafter collectively referred to as an “Authorized RepresentativeConfidential Information”)); provided, however, that such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to the extent that (i) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment of the Company or its transactions, (ii) such disclosure is to any officerperson, directorfirm, shareholder organization or partner entity of such Preferred Memberany and every type, (iii) public or private, for any reason, at any time, without the information being disclosed is prior written consent unless otherwise generally available to the public, (iv) such disclosure is requested compelled by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice operation of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may requestlaw.
(b) Each The Parties acknowledge their intention that the provisions of Section 8(a) create no liability for disclosures made: (i) by persons from information released prior to the execution of this Settlement Agreement; (ii) pursuant to Section 13(b) below to enforce the terms of this Settlement Agreement; (iii) by the Parties to enforce their rights under this Settlement Agreement; (iv) to governmental, taxing or other regulatory authorities or (v) as otherwise compelled by operation of law. The Parties further acknowledge that inquiries as to the status of the AIG MemberAction may be addressed only by reference to the disclosure set forth on the Form 8-K.
(c) Plaintiff is permitted to disclose Confidential Information to Plaintiff’s family, AIRCO attorneys and the Company hereby agrees to provide, or cause accountants (provided they agree to be providedbound by the Confidentiality provisions of this Agreement). Notwithstanding any other provision of this Settlement Agreement, disclosure is permissible in any action or legal proceeding to show the existence of the Settlement Agreement and/or to enforce the Parties’ rights as set forth herein in accordance with California Evidence Code Section 1123 and/or comparable Federal Statutes or Rules.
(d) The Defendants agree to consider in good faith any reasonable requests by Plaintiff for information deemed relevant to Plaintiff’s defense in the SEC investigation, including without limitation Plaintiff’s request to provide Plaintiff within thirty (30) days after the Effective Date with documents and emails created, sent or received on October 18 and 19, 2016 relating to Defendants’ response to the Comptroller General of ▇▇▇▇▇▇▇▇ blog. Notwithstanding the United States (foregoing, the “Comptroller General”), upon request, access Defendants reserve their right to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), withhold information to the extent required by, and in accordance with Defendants reasonably determine that disclosure thereof would be detrimental to the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 interests of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNY)Defendants.
Appears in 1 contract
Confidentiality; Access to Information. (ai) Each Preferred Member Prior to the Effective Time and after any termination of this Agreement each party hereto will hold, and will use its best efforts to cause its officers, directors, employees, accountants, counsel, consultants, advisors, affiliates (as such term is used in Rule 12b-2 under the Exchange Act) and representatives (collectively, the "Representatives"), to hold, in confidence all confidential documents and information concerning the other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG parties hereto and the FRBNY and dated as of September 25Subsidiary furnished to such party in connection with the Contemplated Transactions, 2008 (the “Nondisclosure Agreement”) including, without limitation, all analyses, compilations, studies or any Permitted Transferee of the FRBNY and any Observers who executed a joinder to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound records prepared by the Nondisclosure Agreementparty receiving the information or by such party's Representatives, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company that contain or any of its Affiliates, otherwise reflect or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need to know are generated from such information in order to perform such responsibilities (each such Person being hereinafter collectively, the "Confidential Material"). The party furnishing any Confidential Material is herein referred to as an “Authorized Representative”))the "Delivering Company" and the party receiving any Confidential Material is herein referred to as the "Receiving Company."
(ii) The Receiving Company agrees that the Confidential Material will not be used other than for the purpose of the transaction contemplated by this Agreement, and that such information will be kept confidential by the Receiving Company and its Representatives; provided, however, that (1) any of such Preferred Member information may be disclosed to the Representatives who need to know such information for the purpose described above (it being understood that each such Representative shall be informed by the Receiving Company of the confidential nature of such information, shall be directed by the Receiving Company to treat such information confidentially and not to use it other than for the purpose described above and shall agree to be bound by the terms of this Section 6.1 in any event, the Receiving Company shall be responsible for any breach of this Agreement by any of its Representatives) and (2) any other disclosure of such information may be made if the Delivering Company has, in advance, consented to such disclosure in writing. The Receiving Company will make all reasonable, necessary andappropriate efforts to safeguard the Confidential Material from disclosure to anyone other than as permitted hereby.
(iii) Notwithstanding the foregoing, if the Receiving Company or any of its Authorized Representatives is requested or required (by oral question or request for information or documents in legal proceedings, interrogatories, subpoena, civil investigative demand or similar process) to disclose any Confidential Material, the Receiving Company will promptly notify the Delivering Company of such request or requirement so that the Delivering Company may make seek an appropriate protective order and/or waive the Receiving Company's compliance with the provisions or this Agreement. If, in the absence of a protective order or the receipt of a waiver hereunder, the Receiving Company or any of its Representatives is nonetheless, in the reasonable written opinion of the Receiving Company's counsel, compelled to disclose Confidential Material to any tribunal, the Receiving Company or such disclosureRepresentative, subject to applicable Law, after notice to the extent Delivering Company, may disclose such information to such tribunal. The Receiving Party shall exercise reasonable efforts to obtain reliable assurance that confidential treatment will be accorded the Confidential Material so disclosed. The Receiving Company or such Representative shall not be liable for the disclosure of Confidential Material hereunder to a tribunal compelling such disclosure unless such disclosure to such tribunal was caused by or resulted from a previous disclosure by the Receiving Company or any of its Representatives not permitted by this Agreement.
(iiv) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment This Section 6.1(iv) shall be inoperative as to particular portions of the Company Confidential Material if such information (1) is or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise becomes generally available to the publicpublic other than as a result of a disclosure by the Receiving Company or its Representatives; (2) was available to the Receiving Company on a non- confidential basis prior to its disclosure to the Receiving Company by the Delivering Company or the Delivering Company's Representatives or (3) becomes available to the Receiving Company on a non-confidential basis from a source other than the Delivering Company or the Delivering Company's Representatives, provided that such source is not known by the Receiving Company, after reasonable inquiry, to be bound by a confidentiality agreement with the Delivering Company or the Delivering Company's Representatives and is not otherwise prohibited from transmitting the information to the Receiving Company by a contractual, legal or fiduciary obligation. The fact that information included in the Confidential Material is or becomes otherwise available to the Receiving Company or its Representatives under clauses (iv1) such disclosure is requested by any governmental body, agency, official and (2) above shall not relieve the Receiving Company or authority having jurisdiction over such Preferred Member, its Representatives of the prohibitions of the confidentiality provisions of this Section 6.1(iv) with respect to the balance of the Confidential Material.
(v) such disclosureIf this Agreement is terminated, based upon the advice of legal counsel of such Preferred Member or Authorized Representativeeach party hereto will, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall will use all reasonable its best efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) officers, directors, employees, accountants, counsel, consultants, advisors and agents to, destroy or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be provided, deliver to the Comptroller General of the United States (the “Comptroller General”)party from whom such Confidential Material was obtained, upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or all documents and other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), to the extent required bymaterials, and all copies thereof, obtained by such party or on its behalf from any such other parties in accordance connection with the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge this Agreement that the Helping Families Act provides that, are subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNY)such confidence.
Appears in 1 contract
Confidentiality; Access to Information. (a) Each Preferred Member The parties acknowledge that the information being made available to the Purchaser and its Affiliates by any member of the Seller Group (other than or its agents or representatives) is subject to the FRBNY which is bound by that certain Nondisclosure Agreement terms of a confidentiality agreement dated October 11, 2018 by and among AIG between Syncsort Incorporated, a subsidiary of the Purchaser, and the FRBNY and dated as of September 25, 2008 Seller (the “Nondisclosure Confidentiality Agreement”) or any Permitted Transferee ), the terms of which are incorporated herein by reference. Effective upon, and only upon, the final Deferred Closing, the terms of the FRBNY and any Observers who executed a joinder Confidentiality Agreement will terminate solely with respect to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter information relating to the Company Business; provided that the Purchaser acknowledges that any and all other information provided or made available to it or its representatives concerning any member of the Seller Group or any Affiliate of its Affiliates, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating any member of the Seller Group will remain subject to the Company terms and who reasonably need to know such information in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”)); provided, however, that such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to the extent that (i) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment conditions of the Company or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit Confidentiality Agreement and all other provisions of the Company Confidentiality Agreement shall survive in accordance with its terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than after the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may requestfinal Deferred Closing.
(b) Each From the date hereof until the final Deferred Closing Date or earlier termination of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be provided, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343)this Agreement, to the extent required bypermitted by Law, the Seller shall, and shall cause the other members of the Seller Group to, provide the Purchaser and its representatives with such reasonable access to the facilities of the Business, the Business’s principal personnel and the books, records, offices and other facilities and properties to the extent pertaining to the Business as the Purchaser may reasonably request in accordance writing in order to effectuate the transactions contemplated hereby, without charge to the Purchaser (but otherwise at the Purchaser’s expense); provided that (i) certain materials subject to confidentiality obligations or attorney-client privilege, or which may not be shared with the provisions ofother party pursuant to applicable Law, 31 U.S.C. § 714(d)(3have not been and will not be so delivered or made available to the Purchaser or its representatives, on the basis that the disclosure of such materials would, in the reasonable and good faith judgment of counsel to the Seller Group, violate such confidentiality obligations, attorney-client privilege or applicable Law (provided that the Seller shall promptly notify the Purchaser thereof and use commercially reasonable efforts to seek alternative means to disclose such information as nearly as possible without adversely affecting such confidentiality obligations, attorney client privilege or applicable Law), (ii) neither the Purchaser nor any of its representatives shall conduct any invasive investigation, testing or sampling of any soil, groundwater or other environmental media and (as added by section 801 iii) such access will be requested in writing with reasonable advance notice and exercised during normal business hours and without causing unreasonable interference with the operations of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”))Business. The parties hereby acknowledge that the Helping Families Act provides thatPurchaser and its representatives shall not contact any suppliers, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended)customers, an officer landlords and other business relations or an employee employees of the U.S. Government Accountability Office Business regarding or in connection with the transactions contemplated hereby without the prior written consent (the “GAO”such consent not to be unreasonably withheld, conditioned or delayed) of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇ or ▇▇▇▇ ▇▇▇▇▇▇ (including the Comptroller General) may not disclose and their respective successors from time to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNYtime).
Appears in 1 contract
Sources: Stock and Asset Purchase Agreement (Pitney Bowes Inc /De/)
Confidentiality; Access to Information. (ai) Each Preferred Member Prior to the Effective Time and after any termination of this Agreement each party hereto will hold, and will use its best efforts to cause its officers, directors, employees, accountants, counsel, consultants, advisors, affiliates (as such term is used in Rule 12b-2 under the Exchange Act) and representatives (collectively, the "Representatives"), to hold, in confidence all confidential documents and information concerning the other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG parties hereto and the FRBNY and dated as of September 25Subsidiary furnished to such party in connection with the Contemplated Transactions, 2008 (the “Nondisclosure Agreement”) including, without limitation, all analyses, compilations, studies or any Permitted Transferee of the FRBNY and any Observers who executed a joinder to the Nondisclosure Agreement or who are otherwise bound thereto), and any Observer not otherwise bound records prepared by the Nondisclosure Agreementparty receiving the information or by such party's Representatives, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company that contain or any of its Affiliates, otherwise reflect or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating to the Company and who reasonably need to know are generated from such information in order to perform such responsibilities (each such Person being hereinafter collectively, the "Confidential Material"). The party furnishing any Confidential Material is herein referred to as an “Authorized Representative”))the "Delivering Company" and the party receiving any Confidential Material is herein referred to as the "Receiving Company."
(ii) The Receiving Company agrees that the Confidential Material will not be used other than for the purpose of the transaction contemplated by this Agreement, and that such information will be kept confidential by the Receiving Company and its Representatives; provided, however, that (1) any of such Preferred Member information may be disclosed to the Representatives who need to know such information for the purpose described above (it being understood that each such Representative shall be informed by the Receiving Company of the confidential nature of such information, shall be directed by the Receiving Company to treat such information confidentially and not to use it other than for the purpose described above and shall agree to be bound by the terms of this Section 6.1 in any event, the Receiving Company shall be responsible for any breach of this Agreement by any of its Representatives) and (2) any other disclosure of such information may be made if the Delivering Company has, in advance, consented to such disclosure in writing. The Receiving Company will make all reasonable, necessary and appropriate efforts to safeguard the Confidential Material from disclosure to anyone other than as permitted hereby.
(iii) Notwithstanding the foregoing, if the Receiving Company or any of its Authorized Representatives is requested or required (by oral question or request for information or documents in legal proceedings, interrogatories, subpoena, civil investigative demand or similar process) to disclose any Confidential Material, the Receiving Company will promptly notify the Delivering Company of such request or requirement so that the Delivering Company may make seek an appropriate protective order and/or waive the Receiving Company's compliance with the provisions or this Agreement. If, in the absence of a protective order or the receipt of a waiver hereunder, the Receiving Company or any of its Representatives is nonetheless, in the reasonable written opinion of the Receiving Company's counsel, compelled to disclose Confidential Material to any tribunal, the Receiving Company or such disclosureRepresentative, subject to applicable Law, after notice to the extent Delivering Company, may disclose such information to such tribunal. The Receiving Party shall exercise reasonable efforts to obtain reliable assurance that confidential treatment will be accorded the Confidential Material so disclosed. The Receiving Company or such Representative shall not be liable for the disclosure of Confidential Material hereunder to a tribunal compelling such disclosure unless such disclosure to such tribunal was caused by or resulted from a previous disclosure by the Receiving Company or any of its Representatives not permitted by this Agreement.
(iiv) the information being disclosed is in connection with such Preferred Member’s tax returns or concerns the tax structure or tax treatment This Section 6.1(iv) shall be inoperative as to particular portions of the Company Confidential Material if such information (1) is or its transactions, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise becomes generally available to the publicpublic other than as a result of a disclosure by the Receiving Company or its Representatives; (2) was available to the Receiving Company on a non- confidential basis prior to its disclosure to the Receiving Company by the Delivering Company or the Delivering Company's Representatives or (3) becomes available to the Receiving Company on a non-confidential basis from a source other than the Delivering Company or the Delivering Company's Representatives, provided that such source is not known by the Receiving Company, after reasonable inquiry, to be bound by a confidentiality agreement with the Delivering Company or the Delivering Company's Representatives and is not otherwise prohibited from transmitting the information to the Receiving Company by a contractual, legal or fiduciary obligation. The fact that information included in the Confidential Material is or becomes otherwise available to the Receiving Company or its Representatives under clauses (iv1) such disclosure is requested by any governmental body, agency, official and (2) above shall not relieve the Receiving Company or authority having jurisdiction over such Preferred Member, its Representatives of the prohibitions of the confidentiality provisions of this Section 6.1(iv) with respect to the balance of the Confidential Material.
(v) such disclosureIf this Agreement is terminated, based upon the advice of legal counsel of such Preferred Member or Authorized Representativeeach party hereto will, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall will use all reasonable its best efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) officers, directors, employees, accountants, counsel, consultants, advisors and agents to, destroy or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be provided, deliver to the Comptroller General of the United States (the “Comptroller General”)party from whom such Confidential Material was obtained, upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or all documents and other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), to the extent required bymaterials, and all copies thereof, obtained by such party or on its behalf from any such other parties in accordance connection with the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge this Agreement that the Helping Families Act provides that, are subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNY)such confidence.
Appears in 1 contract
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG GF and the FRBNY and dated as Company acknowledge that they are parties to the Confidentiality Agreement, the terms of September 25, 2008 (which are incorporated herein by reference. In the “Nondisclosure Agreement”event that this Section 6.05(a) or the Confidentiality Agreement conflicts with any Permitted Transferee other covenant or agreement contained herein or any other Transaction Agreement that contemplates the disclosure, use or provision of information or otherwise, then the Confidentiality Agreement shall govern and control to the extent of such conflict.
(b) Notwithstanding the foregoing, none of the FRBNY and Parties will make any Observers who executed a joinder public announcement or issue any public communication regarding this Agreement, any other Transaction Agreement or the Transactions or any matter related to the Nondisclosure Agreement foregoing, without the prior written consent of the Company, in the case of a public announcement by GF or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs GF, in the case of a public announcement by the Company or its Affiliates (such consents, in either case, not to be unreasonably withheld, conditioned or delayed), except: (i) if such announcement or other than disclosure communication is required by Applicable Legal Requirements, in which case the disclosing Party shall, to the extent permitted by Applicable Legal Requirements, first allow such other Parties to review such announcement or communication and have the opportunity to comment thereon and the disclosing Party shall consider such comments in good faith; (ii) if such announcement or other communication is made in connection with GF or the Company’s fundraising or other investment related activities, in each case, in connection with the Transactions, and is made to such Preferred MemberPerson’s advisors responsible for matters direct and indirect investors or potential investors or financing sources subject to an obligation of confidentiality to the disclosing Party; (iii) to the extent such announcements or other communications are consistent with information previously disclosed in a public statement, press release or other communication previously approved or made in accordance with Section 6.04 or this Section 6.05(b); (iv) announcements and communications to Governmental Entities in connection with registrations, declarations and filings relating to the Transactions required to be made under this Agreement; and (v) communications to employees of the Group Companies, and to customers and suppliers of the Group Companies for purposes of seeking any consents and approvals required in connection with the Transactions and (vi) announcements and communications made in connection with the Potential Financing. GF shall be entitled to disclose and file with the SEC any information contained in any presentation made to the potential equity investors, which information may include confidential information; provided, that, Company shall have the right to review and approve (which approval shall not be unreasonably conditioned, withheld or delayed) any materials prior to their distribution.
(c) Subject to the Confidentiality Agreement, the Company shall afford GF and its financial advisors, accountants, counsel and other representatives who reasonably have a need to know such information reasonable access during normal business hours, upon reasonable notice, to the books, records and personnel of the Group Companies during the period prior to the Closing to obtain all information concerning the business, as GF may reasonably request in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))connection with the consummation of the Transactions; provided, however, that any such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to the extent that access shall be (i) conducted in a manner not to unreasonably interfere with the information being disclosed is in connection with such Preferred Member’s tax returns businesses or concerns the tax structure or tax treatment operations of the Company or its transactionsCompany, (ii) such disclosure is to any officerlimited as required by the Company’s policies or Applicable Legal Requirements in connection with COVID-19 (including the COVID-19 Measures), director, shareholder or partner of such Preferred Member, and (iii) that GF and its Representatives shall not, without the information being disclosed is otherwise generally available prior written consent of the Company, make inquiries of persons having business relationships with the Company (including suppliers, customers and vendors) regarding the Company or such business relationships.
(d) Subject to the publicConfidentiality Agreement, (iv) such disclosure is requested by any governmental bodyGF shall afford the Company and its financial advisors, agencyunderwriters, official or authority having jurisdiction over such Preferred Memberaccountants, (v) such disclosurecounsel and other representatives reasonable access during normal business hours, based upon reasonable notice, to the advice books, records and personnel of legal counsel of such Preferred Member or Authorized RepresentativeGF during the period prior to the Closing to obtain all information concerning the business, is otherwise required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party as the Company may reasonably request in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit consummation of the Company with terms no less protective than this Section 7.07(a). Prior Transactions; provided, however, that any such access shall be (i) conducted in a manner not to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply unreasonably interfere with the obligations businesses or operations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be provided, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), to the extent required by, and in accordance with the provisions of, 31 U.S.C. § 714(d)(3) (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4) (as amended), an officer or an employee of the U.S. Government Accountability Office (the “GAO”) (including the Comptroller General) may not disclose to any person outside the GAO information obtained in audits or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNY).GF,
Appears in 1 contract
Sources: Business Combination Agreement (Golden Falcon Acquisition Corp.)
Confidentiality; Access to Information. (a) Each Preferred Member (other than the FRBNY which is bound by that certain Nondisclosure Agreement by and among AIG ION and the FRBNY and dated as Company acknowledge that they are parties to the Confidentiality Agreement, the terms of September 25, 2008 (which are incorporated herein by reference. In the “Nondisclosure Agreement”event that this Section 6.05(a) or the Confidentiality Agreement conflicts with any Permitted Transferee other covenant or agreement contained herein or any other Transaction Agreement that contemplates the disclosure, use or provision of information or otherwise, then the Confidentiality Agreement shall govern and control to the extent of such conflict.
(b) Notwithstanding the foregoing, none of the FRBNY and Parties will make any Observers who executed a joinder public announcement or issue any public communication regarding this Agreement, any other Transaction Agreement or the Transactions or any matter related to the Nondisclosure Agreement foregoing, without the prior written consent of the Company, in the case of a public announcement by ION or who are otherwise bound thereto), and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter relating to the Company or any of its Affiliates, or their respective affairs ION, in the case of a public announcement by the Company or its Affiliates (such consents, in either case, not to be unreasonably withheld, conditioned or delayed), except: (i) if such announcement or other than disclosure communication is required by Applicable Legal Requirements, in which case the disclosing Party shall, to the extent permitted by Applicable Legal Requirements, first allow such other Parties to review such announcement or communication and have the opportunity to comment thereon and the disclosing Party shall consider such comments in good faith; (ii) if such announcement or other communication is made in connection with ION or the Company’s fundraising or other investment related activities, in each case, in connection with the Transactions, and is made to such Preferred MemberPerson’s advisors responsible for matters direct and indirect investors or potential investors or financing sources subject to an obligation of confidentiality to the disclosing Party; (iii) to the extent such announcements or other communications are consistent with information previously disclosed in a public statement, press release or other communication previously approved or made in accordance with Section 6.04 or this Section 6.05(b); (iv) announcements and communications to Governmental Entities in connection with registrations, declarations and filings relating to the Transactions required to be made under this Agreement; and (v) communications to employees of the Group Companies, and to customers and suppliers of the Group Companies for purposes of seeking any consents and approvals required in connection with the Transactions.
(c) Subject to the Confidentiality Agreement, the Company will afford ION and its financial advisors, accountants, counsel and other representatives who reasonably have a need to know such information reasonable access during normal business hours, upon reasonable notice, to the books, records and personnel of the Group Companies during the period prior to the Closing to obtain all information concerning the business, including the status of business development efforts, properties, results of operations and personnel of the Group Companies, as ION may reasonably request in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))connection with the consummation of the Transactions; provided, however, that any such Preferred Member access shall be (i) conducted in a manner not to unreasonably interfere with the businesses or any operations of the Company and (ii) limited as required by the Company’s policies or Applicable Legal Requirements in connection with COVID-19 (including the COVID-19 Measures). Subject to the Confidentiality Agreement, ION will afford the Company and its Authorized Representatives may make such disclosurefinancial advisors, subject to applicable Lawunderwriters, accountants, counsel and other representatives reasonable access during normal business hours, upon reasonable notice, to the extent books, records and personnel of ION during the period prior to the Closing to obtain all information concerning the business, including properties, results of operations and personnel of ION, as the Company may reasonably request in connection with the consummation of the Transactions; provided, however, that any such access shall be (i) conducted in a manner not to unreasonably interfere with the information being disclosed is businesses or operations of ION and (ii) limited as required by ION’s policies or Applicable Legal Requirements in connection with such Preferred Member’s tax returns or concerns COVID-19 (including the tax structure or tax treatment of COVID-19 Measures). Notwithstanding the foregoing, neither the Company nor ION, nor any of their respective Subsidiaries or its transactionsRepresentatives, (ii) such disclosure is to any officer, director, shareholder or partner of such Preferred Member, (iii) the information being disclosed is otherwise generally available to the public, (iv) such disclosure is requested by any governmental body, agency, official or authority having jurisdiction over such Preferred Member, (v) such disclosure, based upon the advice of legal counsel of such Preferred Member or Authorized Representative, is otherwise shall be required by applicable Law or statute or (vi) such disclosure is made to any Permitted Transferee or Third Party in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit of the Company with terms no less protective than this Section 7.07(a). Prior to making any disclosure described in clause (iv) or (v) of this Section 7.07(a), a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees to provide, or cause to be providedprovided to, to the Comptroller General of the United States other party any information (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”i) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), if and to the extent required bydoing so would (A) violate any Applicable Legal Requirement to which the Company or ION, and as applicable, is subject, (B) result in accordance the disclosure of any trade secrets of third parties in breach of any Contract with the provisions ofsuch third-party, 31 U.S.C. § 714(d)(3(C) (as added by section 801 violate any legally binding obligation of the Helping Families Save Their Homes Act of 2009Company or ION, Pub. L. No. 111as applicable, with respect to confidentiality, non-22 disclosure or privacy or (D) jeopardize protections afforded to the “Helping Families Act”)). The parties hereby acknowledge that Company or ION, as applicable, under the Helping Families Act provides attorney-client privilege or the attorney work product doctrine (provided that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4case of each of clauses (A) through (as amendedD), an officer the Company and ION shall each use reasonable best efforts to (x) provide such access as can be provided (or an employee of otherwise convey such information regarding the U.S. Government Accountability Office applicable matter as can be conveyed) without violating such privilege, doctrine, Contract, obligation or Applicable Legal Requirement and (the “GAO”y) (including the Comptroller General) may not disclose to any person outside the GAO provide such information obtained in audits a manner without violating such privilege, doctrine, Contract, obligation or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNYApplicable Legal Requirement).
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Confidentiality; Access to Information. (a) Each Preferred Member SPAC and EUR acknowledge that they are parties to the Confidentiality Agreement, the terms of which are incorporated herein by reference. In the event that this Section 8.5(a) or the Confidentiality Agreement conflicts with any other covenant or agreement contained herein or any other Transaction Agreement that contemplates the disclosure, use or provision of information or otherwise, then the Confidentiality Agreement shall govern and control to the extent of such conflict.
(b) Notwithstanding the foregoing, none of the Parties will make any public announcement or issue any public communication regarding this Agreement, any other than Transaction Agreement or the FRBNY Transactions or any matter related to the foregoing, without the prior written consent of (i) EUR, in the case of a public announcement by SPAC or its Affiliates, (ii) SPAC, in the case of a public announcement by EUR or its Affiliates and (iii) EUR and SPAC, in the case of a public announcement by PubCo (such consents, in each case, not to be unreasonably withheld, conditioned or delayed), except: (A) for any announcement or other communication necessary or advisable in connection with any EUR Adverse Recommendation Change; (B) if such announcement or other communication is required by Applicable Law, in which is bound case the disclosing Party shall, to the extent permitted by that certain Nondisclosure Agreement by Applicable Law, first allow such other Parties to review such announcement or communication and among AIG have the opportunity to comment thereon and the FRBNY and dated as of September 25, 2008 disclosing Party shall consider such comments in good faith; (the “Nondisclosure Agreement”C) or any Permitted Transferee of the FRBNY and any Observers who executed a joinder to the Nondisclosure Agreement extent such announcements or who other communications are otherwise bound theretoconsistent with information previously disclosed in a public statement, press release or other communication previously approved or made in accordance with Section 8.4 or this Section 8.5(b); (D) announcements and communications to Governmental Entities in connection with registrations, declarations and any Observer not otherwise bound by the Nondisclosure Agreement, agrees to keep confidential, and not to disclose to any Person, any matter filings relating to the Company or Transactions required to be made under this Agreement; and (E) communications to employees of EUR and the Group Companies, and to customers and suppliers of EUR and the Group Companies for purposes of seeking any of its Affiliatesconsents and approvals required in connection with the Transactions, or their respective affairs (other than disclosure to such Preferred Member’s advisors responsible for matters relating and then only to the Company extent such communications are consistent with information previously disclosed in a public statement, press release or other communication previously approved or made in accordance with Section 8.4.
(c) Subject to the Confidentiality Agreement, EUR and the Group Companies will afford SPAC and its financial advisors, accountants, counsel and other representatives who reasonably have a need to know such information reasonable access during normal business hours, upon reasonable notice, to the books, records and personnel of EUR and the Group Companies during the period prior to the Closing to obtain all information concerning the business as SPAC may reasonably request in order to perform such responsibilities (each such Person being hereinafter referred to as an “Authorized Representative”))connection with the consummation of the Transactions; provided, however, that any such Preferred Member or any of its Authorized Representatives may make such disclosure, subject to applicable Law, to the extent that access shall be (i) conducted in a manner not to unreasonably interfere with the information being disclosed is in connection with such Preferred Member’s tax returns businesses or concerns the tax structure or tax treatment operations of the Company or its transactionsEUR, (ii) such disclosure is to limited as required by EUR’s policies or Applicable Law in connection with COVID-19 (including any officer, director, shareholder or partner of such Preferred Member, COVID-19 Measures) and (iii) the such access shall not include any invasive drilling or testing or with respect to information being disclosed is otherwise generally available not in EUR’s possession. Subject to the publicConfidentiality Agreement, (iv) such disclosure is requested by any governmental bodySPAC will afford EUR and its financial advisors, agencyunderwriters, official or authority having jurisdiction over such Preferred Memberaccountants, (v) such disclosurecounsel and other representatives reasonable access during normal business hours, based upon reasonable notice, to the advice books, records and personnel of legal counsel of such Preferred Member or Authorized Representative, is otherwise required by applicable Law or statute or (vi) such disclosure is made SPAC during the period prior to any Permitted Transferee or Third Party the Closing to obtain all information concerning the business as EUR may reasonably request in connection with any proposed Transfer of Securities, which Permitted Transferee or Third Party is subject to a confidentiality agreement for the benefit consummation of the Company Transactions; provided, however, that any such access shall be (i) conducted in a manner not to unreasonably interfere with terms no less protective than this Section 7.07(athe businesses or operations of SPAC and (ii) limited as required by SPAC’s policies or Applicable Law in connection with COVID-19 (including any COVID-19 Measures). Prior to making Notwithstanding the foregoing, neither EUR nor SPAC, nor any disclosure described in clause (iv) of their respective Subsidiaries or (v) of this Section 7.07(a)Representatives, a Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall notify the Board of Managers of such disclosure and of such advice of counsel. Each Preferred Member (other than the FRBNY or any Permitted Transferee thereof) shall use all reasonable efforts to cause each of its Authorized Representatives to comply with the obligations of such Preferred Member under this Section 7.07(a). In connection with any disclosure described in clause (iv) or (v) above, the disclosing Preferred Member shall cooperate with the Company in seeking any protective order or other appropriate arrangement as the Board of Managers may request.
(b) Each of the AIG Member, AIRCO and the Company hereby agrees be required to provide, or cause to be providedprovided to, to the Comptroller General of the United States (the “Comptroller General”), upon request, access to information, data, schedules, books, accounts, financial records, reports, files, electronic communications, or other papers, things or property that relate to assistance provided by the FRBNY pursuant to party any action taken by the Board of Governors of the Federal Reserve System (the “Board of Governors”) under section 13(3) of the Federal Reserve Act (12 U.S.C. § 343), information if and to the extent required bydoing so would (A) violate any Applicable Law to which EUR or SPAC, and as applicable, is subject, (B) result in accordance the disclosure of any trade secrets of third parties in breach of any Contract with such third-party, (C) violate any legally binding obligation of EUR or SPAC, as applicable, with respect to confidentiality, non-disclosure or privacy or (D) jeopardize protections afforded to EUR or SPAC, as applicable, under the provisions of, 31 U.S.C. § 714(d)(3) attorney-client privilege or the attorney work product doctrine (as added by section 801 of the Helping Families Save Their Homes Act of 2009, Pub. L. No. 111-22 (the “Helping Families Act”)). The parties hereby acknowledge that the Helping Families Act provides provided that, subject to certain exceptions enumerated in 31 U.S.C. § 714(c)(4case of each of clauses (A) through (as amendedD), an officer EUR and SPAC shall each use reasonable best efforts to (x) provide such access as can be provided (or an employee of otherwise convey such information regarding the U.S. Government Accountability Office applicable matter as can be conveyed) without violating such privilege, doctrine, Contract, obligation or Applicable Law and (the “GAO”y) (including the Comptroller General) may not disclose to any person outside the GAO provide such information obtained in audits a manner without violating such privilege, doctrine, Contract, obligation or examinations conducted under 31 U.S.C. § 714(e) (as amended) and maintained as confidential by the Board of Governors or a Federal Reserve bank (including the FRBNYApplicable Law).
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