Common use of Obligations and Limitations Clause in Contracts

Obligations and Limitations. The Recipient shall for a period of the Term after receipt of the Discloser’s Confidential Information to: a) maintain Confidential Information in confidence using reasonable efforts (but efforts no less stringent than the efforts used to protect its own confidential information of like kind) except that: i) the Recipient may disclose or permit the disclosure of Confidential Information to its directors, officers, employees, consultants, vendors, and advisors who are obligated to maintain its confidential nature and who need to know the Confidential Information for the Purpose; and ii) when required to comply with applicable laws or regulations or with a court or administrative order, as long as the Recipient uses reasonable efforts to provide prompt written notice of the disclosure; and b) use the Confidential Information only for the Purpose.