Non Disclosure Commercial Listings TeamSam

                                                                       Confidentiality Agreement

BETWEEN:               Sam Malhi / Sandeep Sharma                    (the Confidential Information “Provider”) 

AND

(the Confidential Information “Recipient”)

CONCERNING: confidential or proprietary information described as-  Business, Location, Finances and other information about the business.  (the “Confidential Information”) to be provided to the Recipient upon execution of this Agreement;

We will provide you the details of the specific selected property.

DEFINITIONS AND INTERPRETATIONS:  For the purposes of this Confidentiality Agreement, “Provider” includes the employees and principals of the Provider and “Recipient” includes the employees and principals of the Recipient, the employees, agents, advisors, consultants and lenders of the Recipient’s principal and the parties specifically authorized under this Agreement to receive the Confidential Information. “Confidential Information” includes written, electronic and verbal information designated in this Agreement as confidential or proprietary.
TERMS: In consideration of receiving the Confidential Information from the Provider, the Recipient agrees to hold and treat the Confidential Information in the strictest confidence and agrees not to disclose the Confidential Information to any party who has not been authorized under this Agreement to receive the Confidential Information. This Agreement authorizes the Recipient to share the Confidential Information. The Agreement authorizes the Recipient to share the Confidential Information with [ Business Partners, Accountant and Lawyer].
The Confidential Information is provided for the sole and limited use by the Recipient, including the parties specifically authorized under this Agreement to receive the Confidential Information. If the Recipient intends to disclose any or all of the Confidential Information to any other party who is not authorized under this Agreement to receive the Confidential Information, the Recipient agrees to enter into a Confidentiality Agreement with the other party on the same terms and conditions as included herein and obtain the Provider’s written authority prior to releasing the Confidential Information to the other party. 
The Recipient shall be liable to the Provider for any non-compliance of this Confidentiality Agreement by the Recipient and for any disclosure of the Confidential Information by any other party who has received the Confidential Information from the Recipient.
The Recipient agrees to make all inquiries and communications concerning the Confidential Information and the Property through the Provider. The Recipient agrees not to 
communicate with anyone other than the Provider for additional information about the Property, including employees, tenants, business contacts, suppliers, government agencies, etc., or to Visit/Access the Property, without the prior written consent of the Provider.
If the Recipient is no longer interested in continuing negotiations for the Property or completing a transaction with the Provider, the Recipient agrees to return all written Confidential Information to the Provider and to destroy any written and electronic copies in the Recipient’s possession.
The Recipient agrees that any investigations of the Property are at the sole risk and expense of the Recipient and the Provider will not be liable for any costs related to the investigations or due diligence without the express written authorization from the Provider.
The Provider is not liable for the accuracy or completeness of the Confidential Information and is not liable in any way to the Recipient as a result of providing the Confidential Information to the Recipient. Any liability or dispute arising out of this Confidentiality Agreement, or any non-compliance with this Agreement shall be subject to and governed by the laws of the Province of Ontario, Canada.
The Recipient executing this Agreement agrees to inform any Recipient of the Confidential Information that the information is confidential.
PRIVACY: Each of the Provider and Recipient represent and warrant to the other that each has complied with the provisions of the Personal Information Protection and Electronic Documents Act and will continue to do so and, if required, each will provide an authorized contact to the other for matters concerning personal information.
CONDUCT - Recipient understands and agrees that all communications concerning the above mentioned property shall be conducted solely through the Provider and that
Recipient shall be obligated to pay Provider a 2% (two percent) commission, if Recipient interferes with the  Provider's right to collect the commission as set forth in a separate Agreement, whether inplied or written, with the Seller when: 1) Recipient is ready, willing and able to purchase at the terms set forth in the Listing, or at any other Price and/or terms acceptable to Seller; 2) Recipient buys, leases, receives in trade or otherwise obtains any part of the Business during the two(2) years period commencing from the date of the Effective Date; 3) Seller and Recipient enter into a contract for sale; 4) Recipient, through no fault of Seller, fails or refuses to complete a sale, lease, trade or other disposition of the Business after entering into an agreement to do so; 5) Recipient does any act equivalent of a purchase, or has an employment, independent contractor or consulting relationship directly or indirectly with Seller. Recipient agrees not to approach or contact Seller or its principals or visit the physical business location without an appointment arranged through Provider. Recipient also agrees to not contact or approach Seller’s employees, officials, agents, customers, suppliers, and/or competitors without the express written consent of Provider. Recipient shall be fully responsible for any breach of this Agreement by Recipient, Recipient’s agents, representatives or employees.
PROCURING CAUSE - Recipient hereby recognizes Broker as the procuring cause of any purchase or other act set forth in paragraph above, and agrees that for a period of Two (2) years from the Effective Date not to deal directly or indirectly with the Seller, its agents, representatives or assigns, without the prior written consent of Provider.  If Recipient, or an entity in which Recipient has an interest, or person or entity introduced to the Business and/or Seller by Recipient, enters into a (a) sale and/or purchase agreement,
(b) management contract or other financial arrangement with Seller with respect to the Business or part thereof, including leasing the Business premises from Seller or Seller’s landlord, Recipient shall be liable to Provider for any and all damages that the Provider may suffer, including but not limited to the payment of the full commission thats due to the  Provider under a separate agreement with the Seller, whether written or implied. To ensure the collection of this compensation, Recipient hereby grants Provider the right to place a lien on the Business assets which was acquired by the Recipient in violation of this Agreement, and Recipient agrees and does hereby appoint Provider its attorney– in-facto execute all documents necessary to perfect such lien, and this Agreement shall be Recipient’s consent to do so as required by laws of the Province of Ontario, Canada.

Signature of Provider/ Authorized Rep:  Sandeep Sharma Sam Malhi - 905 556 1386
Century 21 Paramount Realty Inc., 4-8550 Torbram Rd, Brampton,ON, L6T 5C8

Clear
Page 1 of 2
Form service by Formlets.com