Common use of Need to Know Clause in Contracts

Need to Know. (a) Only the employees, servants, agents, advisors, consultants, Affiliates or contractors of each Party or lenders to and potential lenders to or investors in and potential investors in or rating agencies to such Party who have a need to receive Confidential Information for the performance of the Party’s obligations under this Agreement or for such Party’s internal business use may have access to Confidential Information and, each Party shall cause each such employee, servant, agent, advisor, consultant, Affiliate, contractor lender, potential lender, investor or potential investor to hold Confidential Information under the same or substantially similar obligations of confidentiality imposed by this Article 20. For greater certainty, each Party shall be liable to the other Party for any disclosure of Confidential Information contrary to this Agreement by anyone to whom such Party discloses Confidential Information. (b) Notwithstanding the obligations of confidentiality reflected hereunder, SaskPower acknowledges and agrees that City may disclose Confidential Information to the extent required by securities laws or stock exchange disclosure rules applicable to City or any of its Affiliates and, provided it uses reasonable efforts to ensure the Confidential Information remains confidential, to any lender, prospective lender, underwriter, prospective underwriter and to any of their legal advisors in connection with any financing or proposed financing by it or any of its Affiliates.