Dear Sir
The Information contained in the Information Memorandum ('The Information') to be sent to you is the property of John Smith and is commercially valuable. By signing this letter XXX acknowledges this and undertakes:
1. Not to use the information for it's own commercial purposes. Not to establish or aquire a business in the same trade or approach or enter into commercial negotiations with any staff, customers or suppliers of John Smith for a period of 12 months following the date of this letter.
2. To keep the information confidentiality. To take all reasonable care to avoid disclosing The Information in whole or in part either directly or indirectly to anyone except its own staff and professional advisers in order for them to work on the proposed aquisition of John Smith. It undertakes only to disclose the whole or part of The Information after its staff or professional advisers have been bound to the undertakings to John Smith on the same terms as this letter.
3. Not to make any copies of The Information without permission and on the request of John Smith to return the documents and to destroy any copies or extracts that may have been taken or made.
The signatory ackonledges that the appropriate recourse for any breaches of this undertaking comprises injunctive relief in addition to damages.
XXX indemnifies John Smith for any actions, claims, costs, expenses, liabilities, losses or payments arising from the breach of this undertaking by itself or any employee or professional adviser.
The terms of this letter do not apply to information that already in the public domain or becomes so, other than through a breach of this undertaking.
The signatories agree that this undertaking shall be governed by Australian Law.
Yours faithfully,
John Smith
Agreed by, Date.........................
Jim Jones for XXX Date.........................
The Information contained in the Information Memorandum ('The Information') to be sent to you is the property of John Smith and is commercially valuable. By signing this letter XXX acknowledges this and undertakes:
1. Not to use the information for it's own commercial purposes. Not to establish or aquire a business in the same trade or approach or enter into commercial negotiations with any staff, customers or suppliers of John Smith for a period of 12 months following the date of this letter.
2. To keep the information confidentiality. To take all reasonable care to avoid disclosing The Information in whole or in part either directly or indirectly to anyone except its own staff and professional advisers in order for them to work on the proposed aquisition of John Smith. It undertakes only to disclose the whole or part of The Information after its staff or professional advisers have been bound to the undertakings to John Smith on the same terms as this letter.
3. Not to make any copies of The Information without permission and on the request of John Smith to return the documents and to destroy any copies or extracts that may have been taken or made.
The signatory ackonledges that the appropriate recourse for any breaches of this undertaking comprises injunctive relief in addition to damages.
XXX indemnifies John Smith for any actions, claims, costs, expenses, liabilities, losses or payments arising from the breach of this undertaking by itself or any employee or professional adviser.
The terms of this letter do not apply to information that already in the public domain or becomes so, other than through a breach of this undertaking.
The signatories agree that this undertaking shall be governed by Australian Law.
Yours faithfully,
John Smith
Agreed by, Date.........................
Jim Jones for XXX Date.........................
