Common use of Confidentiality; Security; Title to Data Clause in Contracts

Confidentiality; Security; Title to Data. (a) Each of the Parties agrees that any confidential information of the other Party received in the course of performance under this Agreement shall be kept strictly confidential by the Parties, except that Seller may disclose such information for the purpose of providing Services pursuant to this Agreement to any subsidiary of Seller or to third parties that provide such Services; provided, that Seller shall be responsible for any such subsidiary keeping confidential such confidential information; provided, further, that any such third party shall have agreed in writing to be bound by this Section 8.12. Upon the termination of this Agreement, each Party shall return to the other Party or destroy all of such other Party's confidential information. (b) Buyer acknowledges that it will acquire no right, title or interest (including any license rights or rights of use) in any firmware or software, and the licenses therefor which are owned by Seller by reason of Seller's provision of the Services provided hereunder; provided, that the foregoing shall not affect any rights of Buyer under the Purchase Agreement.

Appears in 2 contracts

Sources: Stock and Asset Purchase Agreement (Ingersoll Rand Co LTD), Stock and Asset Purchase Agreement (Timken Co)