LIABILITY CLAUSES. The Receiving Party undertakes to protect the security of the information received as part of this agreement in line with good business practices. Publication or disclosure of Confidential Information to a third party or unauthorized employees of the Receiving Party shall be deemed to mean any transfer of information, their distribution or publication, as well as any other form of transfer of the information which constitutes the subject of this Agreement. The Receiving Party who has been entrusted with Confidential Information and has violated the principle of confidential information protection (i.e. disclosed it to a third natural person or legal entity, or made it possible for such person or entity to otherwise gain such information) shall be liable for any material or non-material damages caused. The parties are in agreement that the violating party shall indemnify the other party for any damages resulting from the aforementioned causes. A claim shall be deemed justified if supported by sufficient evidence proving that Receiving Party had violated the terms of this Agreement. The agreed compensation in the event of breach of the principle of protection of confidential information shall be set as a lump-sum payment of 30,000 EUR. In the event that the actual damages incurred are higher than the aforementioned lump sum compensation, the violating party shall be required to pay the Disclosing Party a higher compensation up to the actual damages suffered (in addition to the agreed lump-sum compensation). For disclosure of data or information with regard to which the damage cannot be expressed materially (non-material damages), the lump sum compensation of 30,000 EUR is set. In such case Disclosing Party shall issue a calculation of damages incurred, and Receiving Party undertakes to pay such damages within 15 days of the calculation.
Appears in 5 contracts
Samples: Non Disclosure Agreement, Non Disclosure Agreement, Non Disclosure Agreement
