Common use of Destruction or Return Clause in Contracts

Destruction or Return. Following termination or expiration of this Agreement for any reason and at the request of the other, each Party will destroy all physical records or embodiments of Confidential Information of the other Party or return such information to the other Party, at the returning Party’s expense, and an officer of such Party shall certify to the other Party that all such items have been so returned or destroyed; provided, however, that each Party will be entitled to maintain one copy of the Confidential Information of the other Party solely for the purpose of monitoring its continuing obligations hereunder. Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

Appears in 2 contracts

Sources: Evaluation, Option and License Agreement (Ayala Pharmaceuticals, Inc.), Evaluation, Option and License Agreement (Ayala Pharmaceuticals, Inc.)