Clause Information
Privacy. Each Party shall comply with applicable privacy Laws in the course of collecting, using and disclosing personal information about identifiable individuals in connection with the transactions contemplated by this Agreement (the " Transaction Personal Information "). The Purchaser shall not disclose Transaction Personal Information it receives from Rifco to any Person other than to its advisors who are evaluating and advising on the transactions contemplated by this Agreement. Prior to the Effective Date, neither Party will collect, use or disclose Transaction Personal Information except as necessary for purposes that relate to the transactions contemplated by this Agreement and the information is necessary for the Parties to determine whether to proceed with such transactions and, if the determination is made to proceed with such transactions, the information is necessary for the Parties to carry out and complete such transactions. If the closing of the transactions contemplated by this Agreement does occur, Purchaser will collect, use and disclose the Transaction Personal Information disclosed to Purchaser only for those purposes for which the Transaction Personal Information was initially collected from or in respect of the individuals to which such Transaction Personal Information relates and the Transaction Personal Information relates solely to the carrying on of the business or activity or the carrying out of the objects for which the transactions took place unless (a) the Purchaser has first notified such individual of such additional purpose, and where required by applicable privacy Laws, obtained the consent of such individual to such additional purpose, or (b) such use or disclosure is permitted or authorized by applicable privacy Laws, without notice to, or consent from, such individual. The Parties covenant and agree that where the Parties do not complete or proceed with the transactions contemplated by this Agreement, each Party who received Transaction Personal Information will, if such information is still in the custody of or under the control of such Party, either, at such Party's option, destroy such information or return it to the Party that disclosed it. The Purchaser shall protect and safeguard the Transaction Personal Information received from Rifco against unauthorized collection, use or disclosure and shall cause its advisors to observe the terms of this Section 9.1 and to protect and safeguard Transaction Personal Information in their possession.
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