Common use of Ownership and Return of Information Clause in Contracts

Ownership and Return of Information. The Information shall at all times remain the property of Company. Recipient shall acquire no proprietary interest in or right to the Information, and Company may demand the return or the destruction of the Information at any time by giving written notice to Recipient (the “Return Notice”). Within thirty (30) calendar days of Recipient’s receipt of the Return Notice, Recipient shall: a. return and shall cause its Representatives to return all of the Information provided on behalf of Company or, at Company’s option, Recipient shall destroy and shall cause its Representatives to destroy all such original Information with written notification to Company within fifteen (15) calendar days of such destruction; and b. destroy and shall cause its Representatives to destroy all copies, notes, analyses, compilations, studies, excerpts and other materials prepared by Recipient or its Representatives which contain, reflect or are based on any of the Information (in whatever form including, but not limited to, electronic media except electronic copies of the Information that were automatically created by Recipient's computer back-up system, which electronic copies shall be destroyed in accordance with Recipient's normal back-up procedures. Notwithstanding the foregoing, Recipient agrees on its own behalf and that of its Representatives that all Information shall continue to be subject to the terms of this Agreement.