1. Kailash Patel, chartered Real Estate Broker at Mercantile Realty, has made available to the undersigned, hereinafter called the “Recipient”, information entitled business listings with information as to the proposed reference number(s):
hereinafter called the “Company”, not generally known in the industry, hereinafter referred to as the “Confidential Information”.
2. It is agreed that the improper use, or disclosure to any person or organization other than the Recipient, or its employees, agents or representatives, of the Confidential Information would be highly detrimental and damaging to the Company, and therefore the recipient agrees not to disclose or use any information in such way.
3. The Recipient agrees that he/she will not at any time for five (5) years from the date of this agreement directly or indirectly use the Confidential Information for any purpose other than consideration of arranging, financing, or a sale of stock or assets for the Company, or disclose any of the Confidential Information to, any person or organization, other than to its employees, agents or representatives, and, in the event of disclosure to its agents or representatives, will cause its agents or representatives to be bound by the terms of this Agreement. Further, the Recipient agrees to take all necessary and appropriate steps to ensure that the secrecy of the Confidential Information will be maintained.
4. If and when requested by the Company, the Recipient will return all documents containing Confidential Information which have been given to the Recipient or its agents or representatives.
5. For purposes of this Agreement, the term Confidential Information shall be limited to material which is provided to the Recipient in writing marked “Confidential”, and shall not include (a) any information which can be shown with reasonable proof by the Recipient to have been in its possession, or in the possession of its agents or representatives, prior to receipt thereof from the Company, (b) any information which is now or hereafter becomes information in the public domain, except any information which enters the public domain wrongfully throughout the act of the Recipient, its employees, agents or representatives or (c) any information which can be shown with reasonable proof by the Recipient to have been received subsequently on a non-confidential basis from a third party which did not itself acquire the same from the Company, directly or indirectly.
6. This Agreement can only be changed in writing, contains the entire understanding between the parties as to the subject matter hereof and shall be governed by, and construed in accordance with, the laws of the Province of Quebec.
7. The Recipient undertakes to negotiate or entertain any offers pertaining to the subject file through the sole intermediary of Kailash Patel from Mercantile Realty. Furthermore, the recipient understand that the Vendor will be responsible for the commission to Mercantile Realty in the normal course; HOWEVER, in the event that the recipient purchases the said business at any time during this agreement through another agency or directly from the vendor and not through the agency of Mercantile Realty directly or indirectly, the recipient agrees to pay a commission of ten percent (10%) of the total sales price to Mercantile Realty at the time of the signing of the deed of sales.
The Recipient declares that he (she) have read and understood the foregoing and agrees to comply with. SIGNED UNDER OATH:
By signing below, I confirm that I have read, understood and I agree with all of the above.
