Common use of Notification of Security Breach Clause in Contracts

Notification of Security Breach. Licensee agrees to notify Licensor promptly in the event of any breach of its security under conditions in which it would appear that the trade secrets contained in the Licensed Software were prejudiced or exposed to loss. Licensee shall, upon request of Licensor, take all other reasonable steps necessary to recover any compromised trade secrets disclosed to or placed in the possession of Licensee by virtue of this Agreement. The cost of taking such steps shall be borne solely by Licensee.