Strictly Private & Confidential
[Date]
From: [Name of Receiving Party]
To: Country Group Securities PCL
Level 9, Sindhorn Tower 1,
132 Wireless Rd., Lumpini,
Pathumwan, Bangkok 10330
Dear Sirs,
Re: Possible Purchase of Freehold Prime Mid-Tier Hotel in Bangkok CBD ("Prime Mid-Tier Hotel")
We, [Name of Receiving Party], are interested in obtaining and accessing certain confidential information, properties and personnel in connection with the above mentioned Prime Mid-Tier Hotel to assist us in evaluating a possible purchase of such Prime Mid-Tier Hotel (the “Transaction”).
Confidential Information
We acknowledge and agree that for the purposes of this letter, “Confidential Information” shall consist of any information of whatever nature relating to the Prime Mid-Tier Hotel disclosed or made available by CGS or any of its directors, officers or employees (collectively “Representatives”) and the Owner of the Prime Mid-Tier Hotel (“Owner”) (CGS, Representatives and Owner are collectively the “Disclosing Party”) to ourselves or any of our Representatives (collectively the “Receiving Party”), regardless of the form or manner of disclosure, including:
(a) all information of the Disclosing Party concerning products, product specifications, data, formulae, compositions, ideas, know-how, past, current, and planned research and development, current and planned methods and processes, client or customer lists and files, current and anticipated client or customer requirements, vendor and supplier lists and files, price lists, market studies, business plans and business opportunities;
(b) all information concerning the Disclosing Party’s business and affairs, assets, liabilities, historical and current financial statements, financial projections and budgets, historical, current and projected sales, capital spending budgets, forecasts, strategic plans, marketing and advertising plans, publications, agreements, the names and backgrounds of key personnel, personnel training techniques and materials and the names, contact information and any other information relating to an identified or identifiable natural person;
(c) all third-party confidential information in the possession of the Disclosing Party; and
(d) any reports, analyses, compilations, studies or other material or documents prepared by the Receiving Party, which contain or otherwise reflect such information, including, for the avoidance of doubt, the existence of the Transaction and of the discussions and negotiations relating to it.
Additionally, Confidential Information shall include all such information which is in or which comes into the public domain unless we can show that it is in the public domain other than as a result of a breach by the Receiving Party of any obligation or duty hereunder or of confidentiality or non-disclosure relating to that information.
The Disclosing Party shall have the sole right and absolute discretion to determine what information, properties, and personnel they wish to make available to the Receiving Party. The Receiving Party shall not initiate any communications with the Owner without the prior written consent of the Disclosing Party. The Receiving Party will make no visits to any of the properties at which the business of the Prime Mid-Tier Hotel is carried out without the prior written consent of the Disclosing Party.
Use of Confidential Information
In consideration of the Disclosing Party making the Confidential Information available to us, we acknowledge that the Confidential Information is confidential and is furnished and received in accordance with the provisions of this letter under a strict duty of confidentiality to the Disclosing Party and for the exclusive purpose of considering, evaluating and negotiating the Transaction. Therefore, we hereby agree and unconditionally and irrevocably undertake with the Disclosing Party that we will, and we will procure that each of our Representatives will:
(a) treat all Confidential Information as strictly private and confidential and keep confidential all Confidential Information and not disclose any Confidential Information to any person save as permitted by this letter;
(b) use the Confidential Information solely for the purpose of considering, evaluating and negotiating the Transaction and not for any other purpose including, without limitation, to compete with the Disclosing Party;
(c) not disclose the Confidential Information to any person other than those who need to know strictly for the purpose of evaluating the Transaction (the “Authorized Person”);
(d) not disclose to any person other than the Authorized Person either the fact that discussions or negotiations are taking place concerning the possible Transaction or any of the proposed terms or conditions or the status thereof or any of the terms or existence of this letter;
(e) keep full records of the disclosure of any Confidential Information including details of the Authorized Person and details of copies made and shall furnish those records to the Company upon request; and
(f) upon written request by the Disclosing Party to do so, promptly return to the Disclosing Party all information supplied in documentary form and any copies thereof, including any electronic file note, extract, analysis or any other way of representing or recording and recalling information which contains reflects or is derived from the Confidential Information or if not possible to return, destroy the same and certify such destruction to the Disclosing Party.
We shall ensure that all our Representatives and Authorized Person to whom we disclose the Confidential Information shall observe and perform the provisions of this letter and any breach of the provisions by such persons shall be deemed a breach of this letter by us. We shall be liable for any breach of any of the provisions of this letter by any Representatives or Authorized Person as if it was we, [Name of Receiving Party] who had breached the provision(s).
Solicitation of Employees/Agents
For a period of two years after the date of this letter, neither we nor any of our Representatives or agents will (a) induce or attempt to induce any employee or agent to leave the employ of the Owner, (b) hire, retain or attempt to hire or retain any employee or agent of the Owner or (c) in any way interfere with the relationship between the Owner and any of its employees or agents. For the avoidance of doubt, during the specified period, if the Transaction has not been completed and any employee or agent leaves the Owner and is employed or hired by ourselves, it shall be deemed a breach of this undertaking, unless we shall prove otherwise.
Remedies and Specific Performance
We acknowledge that (i) the Disclosing Party would be damaged irreparably if any of our obligations hereunder are not performed, (ii) the Disclosing Party would encounter extreme difficulty in attempting to prove the actual amount of damages suffered by it as a result of the breach and (iii) any breach hereunder would not be adequately compensated by monetary damages alone. Accordingly, we agree that, in addition to any other right or remedy to which the Disclosing Party may be entitled, the Disclosing Party will be entitled to enforce any provision hereunder by a decree of specific performance and to temporary, preliminary and permanent injunctive relief to prevent any breach or threatened breach, without posting any bond or other security and without the necessity of proving the amount of any actual damage to the Disclosing Party resulting therefrom.
Any dispute arisen from this letter shall be governed by and construed and interpreted in accordance with the laws of Thailand. Any legal action suit or proceedings based on this letter shall be submitted to the Courts in Thailand.
Indemnification
We undertake to indemnify and hold harmless the Disclosing Party from any damages, loss, cost or liability (including legal fees and the cost of enforcing this indemnity) arising out of or resulting from our breach of the terms of this letter or any other unauthorized use or disclosure of the Confidential Information, including, without limitation, any costs (including legal fees) expenses or other liabilities incurred by the Disclosing Party in connection with the enforcement of any of its rights or our obligations or any of our Representatives or Authorized Person hereunder.
Yours faithfully,
______________________
[Receiving Party]
Accepted and Agreed by CGS on behalf of the Disclosing Party:
Signature: ………………………………………………………….…
Name: Mr. Ashwani Ahuja
Title: Deputy Managing Director, Investment Banking 3