Common use of Confidentiality Clause in Contracts

Confidentiality. Contracting Parties declare that any data and facts related to the conclusion and performance of the Agreement or to the trade activity at TP in respect of the other Contracting Party or its activity, that come to their knowledge in any way, shall be deemed as business secrets that must not be disclosed by the Contracting Parties to any other third persons. This provision shall not apply to data provided to KELER Zrt or KELER KSZ Központi Szerződő Fél Zrt. and quantitative data related to the trade and transferred to the transmission system operator responsible for balancing in order to clear imbalances. Contracting Parties are entitled to transfer data, facts and information defined in the above paragraph to their contracting parties providing them financial, accounting and legal services under contracts, on the understanding that all Contracting Parties are bound to properly provide for having their partners - providing them financial-accounting-legal services under assignment, undertaking etc. contracts - process all data, facts, information etc. related to the Agreement confidentially and in accordance with the business interests of the Contracting Parties, do not disclose these to any third persons and do not make these available to the public. Furthermore, the confidentiality obligation does not cover any information that are available to the public, or that become public without any fault on the part of the future recipient Contracting Party, or that have provably already been known to the recipient Party before the effect of the Contract, or that came to the knowledge of the recipient Party by another third Party that is not bound to keep confidentiality to the Contracting Party that the information refers to, or that shall already be published or disclosed in a prescribed scope and to a prescribed group pursuant to the provisions of the law, stock market regulations or authority provisions.

Confidentiality. Contracting Parties declare that any data and facts related to the conclusion and performance of the Agreement or to the trade activity at TP in respect of the other Contracting Party or its activity, that come to their knowledge in any way, shall be deemed as business secrets that must not be disclosed by the Contracting Parties to any other third persons. This provision shall not apply to data provided to KELER Zrt or KELER KSZ Központi Szerződő Fél Zrt. and quantitative data related to the trade and transferred to the transmission system operator responsible for balancing in order to clear imbalances. Contracting Parties are entitled to transfer data, facts and information defined in the above paragraph to their contracting parties providing them financial, accounting and legal services under contracts, on the understanding that all Contracting Parties are bound to properly provide for having their partners - providing them financial-accounting-legal services under assignment, undertaking etc. contracts - process all data, facts, information etc. related to the Agreement confidentially and in accordance with the business interests of the Contracting Parties, do not disclose these to any third persons and do not make these available to the public. Furthermore, the confidentiality obligation does not cover any information that are available to the public, or that become public without any fault on the part of the future recipient Contracting Party, or that have provably already been known to the recipient Party before the effect of the Contract, or that came to the knowledge of the recipient Party by another third Party that is not bound to keep confidentiality to the Contracting Party that the information refers to, or that shall already be published or disclosed in a prescribed scope and to a prescribed group pursuant to the provisions of the law, stock market regulations or authority provisions. Contracting Parties shall use their best efforts to settle any disputes related to this Agreement amicably. The Parties shall refer any disputed matters they are unable to resolve amicably to the court with jurisdiction and competence pursuant to the general rules relating to jurisdiction and competence set out in the Act on Civil Procedure. For any issues not regulated by the present Agreement, the rules of the pertinent law and the Civil Code of Hungary shall prevail. This Agreement has been prepared in Hungarian and English languages in 2 (two) original copies; 1 (one) of which is given to each Party.