Common use of Nondisclosure of Private Proprietary or Confidential Information Clause in Contracts

Nondisclosure of Private Proprietary or Confidential Information. If this Agreement requires the City to disclose “Private Information” to the Obligated Party within the meaning of San Francisco Administrative Code Chapter 12M, the Obligated Party shall use such information consistent with the restrictions stated in Chapter 12M and in this Funding Loan Agreement and only as necessary in performing the services provided under the Funding Loan Agreement. The Obligated Party is subject to the enforcement and penalty provisions in Chapter 12M. In the performance of services provided under the Funding Loan Agreement, the Obligated Party may have access to the City’s proprietary or confidential information, the disclosure of which to third parties may damage the City. If the City discloses proprietary or confidential information to the Obligated Party, such information must be held by such Obligated Party in confidence and used only in performing the Funding Loan Agreement. The Obligated Party shall exercise the same standard of care to protect such information as a reasonably prudent contractor would use to protect its own proprietary or confidential information.