Non-Disclosure Agreement between Chorus Network Advisors Limited (“Chorus”) and the “User.”
Chorus is a limited liability company incorporated in accordance with the laws of England with registered number 12771556.
The User (together, the “User”, “Party”, “Parties”) refers to the person or company or other entity opening an account on the Chorus website.
This Agreement shall govern the conditions of the disclosure by or on behalf of Chorus and its Affiliates (as defined below) with Chorus of the “Information” (as defined below) to the User. The Information will be disclosed in connection with the User evaluating potential investment opportunities through the Chorus website (the “Permitted Purpose”). Chorus regards the Information as proprietary, trade secret, confidential and/or privileged in nature.
As a condition to and in consideration of Chorus and its associates providing or making available the Information to the other Party, each Party agrees as follows:
“Affiliate” means with respect to any Party who offers an investment product on the Chorus website.
“Information“ means all materials, information or knowledge which is acquired by the User in connection from Chorus and its Affiliates, in each case whether disclosed, acquired or provided orally or in writing or in electronic or tangible form, or which is otherwise obtained by the User (e.g. through observation), other than information which:
(i) is in the public domain at the time the information is obtained by the User or subsequently comes into the public domain other than through a breach by the User of the terms of this Agreement;
(ii) is disclosed with Chorus’s written consent;
(iii) is required to be disclosed by the User by operation of law or by a court of competent jurisdiction or by the rules of any regulatory body or stock exchange or government department or agency;
(iv) the User can demonstrate was known to them before the date it was disclosed by or on behalf of Chorus and the User did not obtain the Information by unlawful means (e.g. hacking, surveillance activities);
(v) was obtained lawfully from a third party who is not under an obligation to Chorus or its Affiliates to hold the information in confidence.
The User undertakes to Chorus (for itself and as agent for each of Chorus’s Affiliates) that:
(a) it will take all reasonable measures to maintain in confidence and safeguard all information, exercising at least the same degree of care as it exercises or would exercise with regard to its own confidential information;
(b) it will only use the Information for the purposes of the Permitted Purpose;
(c) it will not disclose the Information to any third party;
(d) it will notify Chorus promptly to the extent it becomes aware of any unauthorized use or disclosure of any Information or other breach of this Agreement and shall co-operate with Chorus’s reasonable requirements as regards correcting the situation;
(e) any Information disclosed under this Agreement which includes material subject to attorney/client privilege (or its equivalent) shall not operate to waive or diminish in any way its continued protection under any applicable privilege rule or doctrine.
Status of Discussions
This Agreement does not constitute a commitment or any other obligation by either Party to disclose any information, or provide or arrange any financing or other financial services with respect to the Permitted Purpose or any related transaction. Each Party acknowledges and agrees that unless and until a written definitive agreement concerning any investment opportunities has been executed, neither Party shall be under any obligation by virtue of this Agreement with respect any investment opportunities, except with regard to the matters specifically set out in this Agreement.
Return of Information
The User agrees that any Information provided by or on behalf of Chorus shall remain the property of Chorus and that on termination of this Agreement, the User will promptly:
(a) return and/or destroy all Information in whatever form and all notes, memoranda, reports or other items in any tangible medium that incorporate or refer to the Information, along with any copies; and
(b) certify in writing that all Information has been returned and/or destroyed.
Notwithstanding the above requirements, the User shall be entitled to retain that portion of the Information as it is required to keep in order to satisfy any legal or regulatory requirements, provided that such information shall remain subject to the confidentiality obligations set forth in this Agreement.
All proprietary and intellectual property rights in and to the Information shall remain Chorus’s sole property, and nothing in this Agreement shall be construed in any way to grant to the User any express or implied licence or other right, title or interest to the Information.
The User acknowledges and agrees that Chorus is not making any representation or warranty as to the accuracy or completeness of the Information (or any other information supplied in connection with the Permitted Purpose) and Chorus will have no liability to any person resulting from any use of such information.
This Agreement will terminate upon the closing of the User’s account on the Chorus platform. The User’s obligations with respect to Information disclosed during the term of this Agreement will survive termination.
The User agrees that in the event of any breach of this Agreement, Chorus would be irreparably and immediately harmed and could not be made whole by monetary damages. Accordingly, the User agrees that in addition to any remedy to which it may be entitled, Chorus and its Affiliates shall be entitled to injunctive relief and such other equitable relief as a court of competent jurisdiction may order to prevent breaches of and to compel specific performance of this Agreement.
The User agrees to indemnify and hold Chorus and its Affiliates harmless from and against any and all damages, losses or expenses (including lawyers’ fees) arising from or relating to any breach of this Agreement by the User. The obligations in this paragraph shall survive termination of this Agreement.
This Agreement will be governed by, and construed in accordance with, the laws of England and each party irrevocably submits to the non-exclusive jurisdiction of the courts of England.
No neglect, delay or indulgence on the part of a party in enforcing the terms of this Agreement shall be construed as a waiver thereof.
This Agreement is binding upon the parties and their successors and assigns, and its provisions may be waived only by written agreement of the parties.
This Agreement constitutes the entire understanding between the Parties with respect to the Information subject to this Agreement.