CONFIDENTIALITY AGREEMENT - I.L. Wollermann Pty Ltd
1. In consideration of the Vendor, its Associates, Wollermann Franchise Developments or I.L. Wollermann Pty Ltd providing a Business Profile, financial and any other information relating to the business (the "Confidential Information') to the Recipient, the Recipient acknowledges the confidentiality of the information and the potential damage to the Vendor and the Business of a breach of confidentiality, and undertakes:
I. to keep confidential the Confidential Information
II. to use the Confidential Information solely for the purpose of evaluating the opportunity to purchase the business from the Vendor, and for no other purpose
III. not to use or allow the Confidential Information to be used to gain any advantage to the Recipient or any other party
IV. not to allow the use of the Confidential Information to disadvantage the Vendor or the Business
V. not to disclose the Confidential Information other than to professional advisors, directors or employees of the Recipient who must have agreed to be bound by this Confidentiality Agreement, and who undertake to maintain strict security over the Confidential Information. Where the Recipient is acting on behalf of its client, the client also agrees to be bound by this Confidentiality Agreement.
VI. to return all Confidential Information and related notes or copies thereof upon request by the Vendor or I.L. Wollermann Pty Ltd
VII. not to communicate the Recipient’s interest in the business either directly or indirectly with any customers, suppliers or employees of the Business, or the Vendor, without the written consent of Wollermann & Associates.
VIII. not to disclose to any party (other than those covered by V. above) that discussions have been held in relation to the Vendor, the Business or the opportunity to purchase the Business.
2. The Recipient acknowledges that this is a binding agreement and makes this undertaking in favour of I.L. Wollermann Pty Ltd and the Vendor.
3. In the event I/We eventually purchase the said business, whether as an individual, company or a partnership privately, through another agent or any other source, I/We undertake to compensate I.L. Wollermann Pty Ltd for any damages and loss of commission.
4. The Business Profile and other information is provided by I.L. Wollermann Pty Ltd on the instructions of the Principals of this business and has been prepared from information supplied by the Principals and their Accountants. The Recipient acknowledges that this information is further provided on the basis that the contents are accurate and correct. However, I.L. Wollermann Pty Ltd and its management and officers disclaim any express or implied warranty thereto. Acceptance of the Business Profile and other information constitutes acceptance of this disclaimer, which the Recipient acknowledges.