ABII » Topics » ACCESS TO INFORMATION

This excerpt taken from the ABII 10-Q filed Dec 20, 2007.

ACCESS TO INFORMATION

Section 6.01. Provision of Corporate Records.

Prior to or as promptly as practicable after the Distribution Time, the Alpha Parties shall deliver to the Generico Parties copies of all minute books and other records of meetings of the Board of Directors (and similar governing entities), committees of the Board of Directors (and similar governing entities) and stockholders of each member of the Generico Group, all corporate books and records and other Data and Records of each member of the Generico Group in the Alpha Parties’ possession and the relevant portions (or copies thereof) of all Data and Records in the possession of a member of the Alpha Group that constitute Generico Assets. From and after the Distribution Time, all such books, records and copies shall be the property of the Generico Parties. Prior to or as promptly as practicable after the Distribution Time, the Generico Parties shall deliver to the Alpha Parties all corporate books and records and other Data and Records of each member of the Alpha Group in the Generico Parties’ possession and the relevant portions (or copies thereof) of all Data and Records in the possession of a member of the Alpha Group that constitute Alpha Assets. From and after the Distribution Date, all such books, records and copies shall be the property of the Alpha Parties.

Section 6.02. Access to Information.

(a) From and after the Distribution Date, the Generico Parties will, and will cause each of their Subsidiaries to, to the extent that such Information has not previously been delivered pursuant to Section 6.01 and to the extent such Information relates to pre-Share Distribution events, facts, circumstances, or occurrences, afford to the Alpha Parties and their Representatives (at the Alpha Parties’ expense) reasonable access and duplicating rights during normal business hours and upon reasonable advance notice to all Information (and personnel or advisors possessing any such Information) within the Generico Parties’ possession or control or in the possession or control of one of their Subsidiaries to the extent relating to the Alpha Parties, any of their Subsidiaries or the Alpha

 

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Business, insofar as such access is reasonably required by the Alpha Parties or any of their Subsidiaries, subject to the provisions below regarding Privileged Information. Notwithstanding anything in this Section 6.02(a), the Generico Parties may redact from any Information provided pursuant to this Section 6.02(a) any Information to the extent relating to the Generico Business.

(b) From and after the Distribution Date, the Alpha Parties will, and will cause each of their Subsidiaries to, to the extent that such Information has not previously been delivered pursuant to Section 6.01 and to the extent such Information relates to pre-Share Distribution events, facts, circumstances, or occurrences, afford to the Generico Parties and their Representatives (at the Generico Parties’ expense) reasonable access and duplicating rights during normal business hours and upon reasonable advance notice to all Information (and personnel or advisors possessing any such Information) within the Alpha Parties’ possession or control or in the possession or control of one of their Subsidiaries to the extent relating to the Generico Parties, any of their Subsidiaries or the Generico Business, insofar as such access is reasonably required by the Generico Parties or any of their Subsidiaries, subject to the provisions below regarding Privileged Information. Notwithstanding anything in this Section 6.02(b), the Alpha Parties may redact from any Information provided pursuant to this Section 6.02(b) any Information to the extent relating to the Alpha Business.

(c) Without limiting the foregoing, Information may be requested under this ARTICLE VI for audit, accounting, claims, litigation, insurance, environmental and safety and tax purposes, as well as for purposes of fulfilling disclosure and reporting obligations and for performing this Agreement and the transactions contemplated hereby.

(d) In furtherance of the foregoing:

(i) Each party acknowledges that (A) each of the Generico Parties and the Alpha Parties (and the members of the Generico Group and the Alpha Group, respectively) has or may obtain Privileged Information; (B) there are or may be a number of Proceedings affecting one or more of the members of the Generico Group and the Alpha Group; (C) the parties may have a common legal interest in Proceedings, in the Privileged Information, and in the preservation of the confidential status of the Privileged Information; and (D) each of the Generico Parties and the Alpha Parties intends that the transactions contemplated by the Transaction Agreements and any transfer of Privileged Information in connection therewith shall not operate as a waiver of any potentially applicable privilege.

(ii) Each of the Generico Parties and the Alpha Parties agrees, on behalf of itself and each member of the Group of which it is a member, not to disclose or otherwise waive any privilege attaching to any Privileged Information relating to the business of the other Group without providing prompt written notice to and obtaining the prior written consent of the other, which consent will not be unreasonably withheld, delayed or conditioned. In the event of a disagreement between any member of the Generico Group and/or any member of the Alpha Group concerning the reasonableness of withholding such consent, no disclosure will be made prior to a final, nonappealable resolution of such disagreement by a court of competent jurisdiction.

 

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(iii) Upon any member of the Generico Group or any member of the Alpha Group receiving any subpoena or other compulsory disclosure notice from a court, other Governmental Entity or otherwise that requests disclosure of Privileged Information, in each case relating to the business of the other Group, the recipient of the notice will promptly provide to the other party a copy of such notice, the intended response, and all materials or Information relating to the other Group that might be disclosed. In the event of a disagreement as to the intended response or disclosure, unless and until the disagreement is resolved as provided in Section 6.02(d)(ii), the parties will cooperate to assert all defenses to disclosure claimed by either Group, at the cost and expense of the Group claiming such defense to disclosure, and shall not disclose any disputed documents or Information until all legal defenses and claims of privilege have been finally determined.

Section 6.03. Production of Witnesses.

Subject to Section 6.02, after the Distribution Date, each of the Generico Parties and the Alpha Parties will, and will cause each member of the Generico Group and the Alpha Group, respectively, to, make available to the other party and members of such other party’s Group, upon written request and at the cost and expense of the party so requesting, its directors, officers, employees and, to the extent reasonably practicable, agents as witnesses to the extent that any such Person may reasonably be required (giving consideration to business demands of such directors, officers, employees and agents) in connection with any Proceedings or other proceedings in which the requesting party may from time to time be involved, provided that the same shall not unreasonably interfere with the conduct of business by the Group of which the request is made.

Section 6.04. Retention of Records.

Except as otherwise required by law or agreed to by the parties in writing, if any Information relating to the business, Assets or Liabilities of a member of a Group is retained by a member of the other Group, each of the Generico Parties and the Alpha Parties will, and will cause the members of the Group of which it is a member to, retain for the period required by the applicable records retention policy of the Generico Parties in effect from time to time all such Information in such Group’s possession or under its control. In addition, after the expiration of such required retention period, if any member of either Group wishes to destroy or dispose of any such Information, prior to destroying or disposing of any of such Information, (a) the Generico Parties or the Alpha Parties, on behalf of the member of its Group that is proposing to destroy or dispose of any such Information, will provide no less than thirty (30) days’ prior written notice to the other party, specifying in reasonable detail the Information proposed to be destroyed or disposed of, and (b) if, prior to the scheduled date for such destruction or disposal, the recipient of such notice requests in writing that any of the Information proposed to be destroyed or disposed of be delivered to such requesting party, the party whose Group is proposing to destroy or dispose of such Information promptly will arrange for the delivery of the requested Information to a location specified by, and at the expense of, the requesting party.

Section 6.05. Confidentiality.

Subject to the provisions of Section 6.02, which shall govern Privileged Information, for a seven-year period after the Distribution Date, each of the Generico Parties and the Alpha Parties shall hold, and shall use their reasonable best efforts to cause

 

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members of their Group and their Representatives to hold, in strict confidence all Information concerning the other party’s Group or any of its operations, employees, Assets or Liabilities, in its possession or control (including Information known to its employees or agents) or furnished to it by such other party’s Group pursuant to the Transaction Agreements or the transactions contemplated thereby and will not use such Information or release or disclose such Information to any other Person, except members of their Group and their Representatives, who will be bound by the provisions of this Section 6.05; provided, however, that any member of the Generico Group or the Alpha Group may disclose such Information to the extent that (a) disclosure is compelled by judicial or administrative process or, in the opinion of such Person’s counsel, by other requirements of law, regulation or listing standard (in which case the party required to make such disclosure will notify the other party as soon as practicable of such obligation or requirement and cooperate with the other party to limit the Information required to be disclosed and to obtain a protective order or other appropriate remedy with respect to the Information ultimately disclosed) or (b) such Person can show that such Information was (i) available to such Person on a nonconfidential basis (other than from a member of the other party’s Group) prior to its disclosure by such Person; (ii) in the public domain through no fault of such Person; or (iii) lawfully acquired by such Person from another source after the time that it was furnished to such Person by the other party’s Group, and not acquired from such source subject to any confidentiality obligation on the part of such source known to the acquiror, or on the part of the acquiror. Each of the parties acknowledges that it will be liable for any breach of this Section 6.05 by their Representatives to whom such Information is disclosed by such party. Notwithstanding the foregoing, each of the Generico Parties and the Alpha Parties will be deemed to have satisfied its obligations under this Section 6.05 with respect to preserving the confidentiality of any Information (other than Privileged Information) if it exercises the same care with regard to such Information as it takes to preserve confidentiality for its own similar Information.

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