Common use of Privileged Information Clause in Contracts

Privileged Information. (a) Each Party hereto acknowledges that (i) each GAMCO Company and each TETON Company has or may obtain Information regarding a TETON Company or GAMCO Company, respectively, or any of its operations, employees, assets or Liabilities, as applicable, that is or may be protected from disclosure pursuant to attorney-client privilege, the work product doctrine or other applicable privileges ("Privileged Information"); (ii) actual, threatened or future litigation, investigations, proceedings (including arbitration), claims or other legal matters have been or may be asserted by or against, other otherwise affect, each of both of GAMCO or TETON (or the GAMCO Companies or TETON Companies) ("Litigation Matters"); (iii) GAMCO and TETON have a common legal interest in Litigation Matters, in the Privileged Information, and in the preservation of the confidential status of the Privileged Information, in each case relating to the GAMCO Assets, GAMCO Businesses, GAMCO Companies or GAMCO Liabilities or the TETON Assets, TETON Businesses, TETON Companies or TETON Liabilities as it or they existed at the time of the Distribution or relating to or arising in connection with the relationship between the constituent elements of the GAMCO Companies and the TETON Companies on or prior to the time of the Distribution; and (iv) GAMCO and TETON intend that the transactions contemplated by this Agreement, the Transition Agreement and any transfer of Privileged Information in connection herewith or therewith shall not operate as a waiver of any potentially applicable privilege.

Privileged Information. (a) Each Party hereto acknowledges that (i) each GAMCO LICT Company and each TETON SPINCO Company has or may obtain Information regarding a TETON an SPINCO Company or GAMCO LICT Company, respectively, or any of its operations, employees, assets Assets or Liabilities, as applicable, that is or may be protected from disclosure pursuant to attorney-client privilege, the work product doctrine or other applicable privileges ("“Privileged Information"”); (ii) actual, threatened or future litigation, investigations, proceedings (including arbitration), claims claims, or other legal matters have been or may be asserted by or against, other or otherwise affect, each of both of GAMCO or TETON LICT and/or SPINCO (or the GAMCO Companies or TETON Companiesan LICT Company and/or an SPINCO Company) ("“Litigation Matters"”); (iii) GAMCO LICT and TETON SPINCO have a common legal interest in Litigation Matters, in the Privileged Information, and in the preservation of the confidential status of the Privileged Information, in each case relating to the GAMCO LICT Assets, GAMCO LICT Businesses, GAMCO LICT Companies or GAMCO Liabilities LICT Liabilities, or the TETON SPINCO Assets, TETON SPINCO Businesses, TETON Companies the SPINCO Companies, or TETON the SPINCO Liabilities as it or they existed at the time of the Distribution or relating to or arising in connection with the relationship between the constituent elements of the GAMCO LICT Companies and the TETON SPINCO Companies on or prior to the time of the Distribution; and (iv) GAMCO LICT and TETON SPINCO intend that the transactions contemplated by this Agreement, the Transition Agreement Transitional Services Agreement, dated of even date herewith, between LICT and SPINCO, and any transfer of Privileged Information in connection herewith or therewith shall not operate as a waiver of any potentially applicable privilege.