Common use of Use of Confidential Information Clause in Contracts

Use of Confidential Information. Each Party acknowledges that during the term of this ARR Agreement it may be exposed to or acquire Confidential Information of another Party or its Affiliates. The Receiving Party(ies) shall hold the Confidential Information of the Disclosing Party in strict confidence and will not disclose such information except to its Representatives who have a need to know such information for the purpose of effecting the terms and conditions of this ARR Agreement and who have entered into an agreement with the Receiving Party with confidentiality restrictions materially equivalent to those contained herein. The Receiving Party(ies) shall be responsible for the breach of this ARR Agreement by any of its Representatives. The Receiving Party(ies) will protect the Disclosing Party’s Confidential Information using the same degree of care that it uses to protect its own information of like import, but in no event with less than a commercially reasonable standard of care.