Common use of Confidentiality; Nonsolicitation Clause in Contracts

Confidentiality; Nonsolicitation. (a) FBC shall not (i) before or after the consummation or termination of this Agreement, directly or indirectly disclose any confidential information acquired from the Bank, either before or after the date of this Agreement, to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, other than in connection with the regulatory notice and application process, or (ii) after termination of this Agreement pursuant to Section 11.1 hereof, use such information for its own purposes or for the benefit of any person, firm, corporation, association, or other entity under any circumstances. All information furnished previously or currently by the Bank in connection with the transactions contemplated by this Agreement or pursuant hereto shall be treated as the sole property of the Bank until consummation of the transactions contemplated hereby and, if such transactions shall not occur, FBC shall either destroy or return to the Bank all documents or other materials containing, reflecting or referring to such information, shall use its best efforts to keep confidential all such information, and shall not directly or indirectly use such information for any competitive or other commercial purposes. The obligation to keep such information confidential shall continue for two years from the date the proposed transactions are abandoned.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Franklin Bank Corp)

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Confidentiality; Nonsolicitation. (a) FBC shall not (i) before or after the consummation or termination of this Agreement, directly or indirectly disclose any confidential information acquired from the Bank, either before or after the date of this Agreement, to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, other than in connection with the regulatory notice and application process, or (ii) after termination of this Agreement pursuant to Section 11.1 9.1 hereof, use such information for its own purposes or for the benefit of any person, firm, corporation, association, or other entity under any circumstances. All information furnished previously or currently by the Bank in connection with the transactions contemplated by this Agreement or pursuant hereto shall be treated as the sole property of the Bank until consummation of the transactions contemplated hereby and, if such transactions shall not occur, FBC shall either destroy or return to the Bank all documents or other materials containing, reflecting or referring to such information, shall use its best efforts to keep confidential all such information, and shall not directly or indirectly use such information for any competitive or other commercial purposes. The obligation to keep such information confidential shall continue for two years from the date the proposed transactions are abandoned.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Franklin Bank Corp)

Confidentiality; Nonsolicitation. (a) FBC The Bank and the Principal Shareholder shall not (i) not, before or after the consummation or termination of this Agreement, directly or indirectly disclose any confidential information acquired from the BankFBC, either before or after the date of this Agreement, to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, other than in connection with the regulatory notice and application processprocess or, or (ii) after termination of this Agreement pursuant to Section 11.1 9.1 hereof, use such information for its own purposes or for the benefit of any person, firm, corporation, association, or other entity under any circumstances. All information furnished previously or currently hereafter furnished by the Bank FBC in connection with the transactions contemplated by this Agreement or pursuant hereto shall be treated as the sole property of the Bank until consummation of FBC whether or not the transactions contemplated hereby and, if such are consummated. If the transactions contemplated hereby shall not occur, FBC the Bank and the Principal Shareholder shall either destroy or return to the Bank FBC all documents or and other materials containing, reflecting or referring to such information, shall use its best efforts to keep confidential all such information, and shall not directly or indirectly use such information for any competitive or other commercial purposes. The obligation to keep such information confidential shall continue for two years from the date the proposed transactions are abandoned.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Franklin Bank Corp)

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Confidentiality; Nonsolicitation. (a) FBC The Bank shall not (i) not, before or after the consummation or termination of this Agreement, directly or indirectly disclose any confidential information acquired from the BankFBC, either before or after the date of this Agreement, to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, other than in connection with the regulatory notice and application processprocess or, or (ii) after termination of this Agreement pursuant to Section 11.1 hereof, use such information for its their own purposes or for the benefit of any person, firm, corporation, association, or other entity under any circumstances. All information furnished previously or currently hereafter furnished by the Bank FBC in connection with the transactions contemplated by this Agreement or pursuant hereto shall be treated as the sole property of the Bank until consummation of FBC whether or not the transactions contemplated hereby and, if such are consummated. If the transactions contemplated hereby shall not occur, FBC the Bank shall either destroy or return to the Bank FBC all documents or and other materials containing, reflecting or referring to such information, shall use its their best efforts to keep confidential all such information, and shall not directly or indirectly use such information for any competitive or other commercial purposes. The obligation to keep such information confidential shall continue for two years from the date the proposed transactions are abandoned.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Franklin Bank Corp)

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