Common use of Acquisition of Information Clause in Contracts

Acquisition of Information. Each Participant shall inform the Operating Agent of the existence of pre-existing information, and information developed independently of the Task, known to it that can be relevant to the Task, but which is not freely available. The Participant shall endeavour to make the information available to the Task under reasonable conditions, in which event the Executive Committee may, acting by unanimity, decide to authorize the Operating Agent to acquire, under terms and conditions stipulated by the Executive Committee, such information which the Operating Agent shall hold for the benefit of the Participants.

Acquisition of Information. Each Participant shall inform the Operating Agent of the existence of pre-existing information, and information developed independently of the Tasktask, known to it that can be relevant to the Task, but which is not freely available. The Participant shall endeavour to make the information available to the Task under reasonable conditions, in which event the Executive Committee may, acting by unanimity, decide to authorize the Operating Agent to acquire, under terms and conditions stipulated by the Executive Committee, such information which the Operating Agent shall hold for the benefit of the Participants.