Taiwanese Transaction Security Clause Samples
The Taiwanese Transaction Security clause is designed to ensure that transactions involving parties in Taiwan adhere to specific security standards and legal requirements. This clause typically outlines the necessary measures for safeguarding sensitive information, such as implementing robust data protection protocols and complying with local regulations governing electronic transactions. By establishing clear expectations for transaction security, the clause helps prevent data breaches and legal disputes, thereby protecting both parties and ensuring the integrity of cross-border business dealings involving Taiwan.
Taiwanese Transaction Security. In connection with any Transaction Security being granted, or being expressed to be granted, over assets in Taiwan from time to time (the “Taiwanese Transaction Security”), the Parties hereby agree that each of the Secured Parties shall be deemed a creditor jointly and severally with each other with respect to their rights and claims hereunder and the other Debt Documents against the Debtors pursuant to Article 283 of the R.O.
