Non-disclosure Agreement

Draft for Editing

[Date]

From: [Name and address of supplier of confidential info.]

To: GRI Equity

Dear Sirs,

We understand that you wish to investigate the business of [name of company] and its subsidiaries, if any, (together the “Company”) in connection with [insert nature of transaction] (the “Permitted Purpose”) and that you, your directors and employees, other potential syndicate members or other providers of finance and your financial and professional advisers in relation to the Permitted Purpose, (together referred to as the “Disclosees”), will need access to certain information relating to the Company (the “Confidential Information”).

1. In consideration of our agreeing to supply, and so supplying, the Confidential Information to you and agreeing to enter into discussions with you, you hereby undertake and agree as follows:

a) to hold the Confidential Information in confidence and not to disclose or permit it to be made available to any person, firm or company (except to other Disclosees), without our prior consent;

b) only to use the Confidential Information for the Permitted Purpose provided that on being notified by us that the proposals concerning the Permitted Purpose have lapsed, you may approach the Company or its advisers with separate proposals and we acknowledge that in so doing you may have regard to the Confidential Information provided;

c) to ensure that each person to whom disclosure of Confidential Information is made by you is fully aware in advance of your obligations under this letter and that, in the case of other potential syndicate members, each such person gives an undertaking in respect of the Confidential Information, in the terms of this letter;

d) upon written demand from us either to return the Confidential Information or to confirm to us in writing that, save as required by law or regulation, it has been destroyed. You shall not be required to return reports, notes or other material prepared by you or other Disclosees on your or their behalf which incorporate Confidential Information (“Secondary Information”) provided that the Secondary Information is kept confidential;

e) to keep confidential and not reveal to any person, firm or company (other than Disclosees) the fact of your investigations into the Company or that discussions or negotiations are taking place or have taken place between us in connection with the proposed transaction or that potential investors/acquirers are being sought for the Company;

f) that no person gives any warranty or makes any representation as to the accuracy or otherwise of the Confidential Information, save as may subsequently be agreed.

2. Nothing in paragraphs 1(a) to (f) of this letter shall apply to any information or Confidential Information:

a) which at the time of its disclosure is in the public domain;

b) which after disclosure comes into the public domain for any reason except your failure, or failure on the part of any Disclosee, to comply with the terms of this letter;

c) which is disclosed by us or the Company, its directors, employees or advisers on a non-confidential basis;

d) which was lawfully in your possession prior to such disclosure;

e) which is subsequently received by you from a third party without obligations of confidentially (and, for the avoidance of doubt, you shall not be required to enquire whether there is a duty of confidentiality); or

f) which you or a Disclosee are required to disclose, retain or maintain by law or any regulatory or government authority.

3. In consideration of the undertakings given by you in this letter, we undertake and agree:

a) to disclose Confidential Information to you;

b) to keep confidential and not reveal to any person, firm or company (other than persons within our group who need to know, our bankers and professional advisers) the fact of your investigation into the Company or that discussions or negotiations are taking place or have taken place between us; and

c) [that we will not prior to [date], directly or indirectly enter into negotiations or have discussions of any kind with any other potential investors which relate to the Permitted Purpose without your prior written consent and we recognize that in reliance on this undertaking you and other Disclosees may incur substantial costs.]

4. a) This letter shall be governed by and construed in accordance with [English] Law.

b) The obligations in this letter will terminate on [date].

Please indicate your acceptance of the above by signing and returning the enclosed copy of this letter as soon as possible.

Yours faithfully,

[name]
[title]
For and on behalf of [company]

We have read and agree to the terms of the above letter.
Signed by

..........................................

For and on behalf of
GRI Equity
Date :

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