Common use of Terms for Handling and Use of Proprietary Information Clause in Contracts

Terms for Handling and Use of Proprietary Information. For a period of ten (10) years after receipt of any Proprietary Information (or until such time as such Proprietary Information becomes publicly known as provided in Article 26.1), the receiving party shall not disclose Proprietary Information that it obtains from the disclosing party to any person or entity except its Board of Directors, parent company, employees, employees, contractors and subcontractors at any tier (including suppliers of any kind), consultants and agents who have a need to know and who have been informed of and have agreed to abide by the receiving party’s obligations under this Article 26 and who are authorized pursuant to applicable Export Control Laws to receive such information. The receiving party shall use not less than the same degree of care to avoid disclosure of such Proprietary Information as it uses for its own Proprietary Information of like importance; but in no event less than a reasonable degree of care. Proprietary Information shall be used only for the purpose of performing the obligations under this Contract, or as the disclosing party otherwise authorizes in writing. In no event shall either Party disclose or transfer SATMEX 8 Satellite controlled technical information or provide technical services whether or not constituting Proprietary Information to insurance brokers, underwriters or other third persons or entities without, where required, prior approval of the U.S. Department of State.