confidentiality agreement - loopnet...executed counterparts shall constitute one complete document....

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CONFIDENTIALITY AGREEMENT THIS CONFIDENTIALITY AGREEMENT (this “Agreement”) is made and entered into as of the 26th day of September, 2019, by and between Amandeep Singh Mangat, dba Gas Barrel Convenience Store (hereinafter referred to as the “Seller”) and ______________________________________________ (hereinafter referred to as the “Prospective Buyer”). WHEREAS, in connection with the possibility of a sales agreement for the sale and purchase of Gas Barrel Convenience Store located at 2500 W. Madison St., Sioux Falls, SD 57104 between the parties, the Prospective Buyer has requested certain information from the Seller; and WHEREAS, as a condition to the furnishing of such information to the Prospective Buyer, the Prospective Buyer, and its representatives as hereinafter provided, have agreed to treat confidentially such information and any other information furnished in connection with the transaction under consideration, whether furnished before or after the date of this Agreement, and all financial records, notes, analyses, compilations, studies or other documents, including any copies or extracts therefrom, which contain or otherwise reflect such information (collectively, hereinafter referred to as the “Confidential Information”). NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants set forth herein, the parties agree as follows: 1. The Prospective Buyer will not use the Confidential Information supplied by the Seller in any way that is detrimental to or in competition with the Seller, and shall not provide such information to any other individuals or parties. Such information will be kept confidential by the Prospective Buyer and all of Prospective Buyer’s agents as hereinafter provided. The Prospective Buyer may provide such information to, and this Confidentiality Agreement shall include, Prospective Buyer’s auditors, accountants, attorneys, investment consultants. All such individuals shall be informed of the confidential nature of the information and shall be provided a copy of this Confidentiality Agreement, and shall all sign such Confidentiality Agreement agreeing to be bound by the terms of said Agreement. 2. The Prospective Buyer will not use any of the confidential information for any reason or purpose other than to evaluate the possible purchase of the Gas Barrel Convenience Store, 2500 W. Madison St., Sioux Falls, SD 57104.

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Page 1: CONFIDENTIALITY AGREEMENT - LoopNet...executed counterparts shall constitute one complete document. 9. The parties hereto agree that the execution of a facsimile of this Agreement

CONFIDENTIALITY AGREEMENT

THIS CONFIDENTIALITY AGREEMENT (this “Agreement”) is made and entered into as of the 26th day of September, 2019, by and between Amandeep Singh Mangat, dba Gas Barrel Convenience Store (hereinafter referred to as the “Seller”) and______________________________________________ (hereinafter referred to as the“Prospective Buyer”).

WHEREAS, in connection with the possibility of a sales agreement for the sale and purchase of Gas Barrel Convenience Store located at 2500 W. Madison St., Sioux Falls, SD 57104 between the parties, the Prospective Buyer has requested certain information from the Seller; and

WHEREAS, as a condition to the furnishing of such information to the Prospective Buyer, the Prospective Buyer, and its representatives as hereinafter provided, have agreed to treat confidentially such information and any other information furnished in connection with the transaction under consideration, whether furnished before or after the date of this Agreement, and all financial records, notes, analyses, compilations, studies or other documents, including any copies or extracts therefrom, which contain or otherwise reflect such information (collectively, hereinafter referred to as the “Confidential Information”).

NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants set forth herein, the parties agree as follows:

1. The Prospective Buyer will not use the Confidential Information supplied by the Seller in any way that is detrimental to or in competition with the Seller, and shall not provide such information to any other individuals or parties. Such information will be kept confidential by the Prospective Buyer and all of Prospective Buyer’s agents as hereinafter provided. The Prospective Buyer may provide such information to, and this Confidentiality Agreement shall include, Prospective Buyer’s auditors, accountants, attorneys, investment consultants. All such individuals shall be informed of the confidential nature of the information and shall be provided a copy of this Confidentiality Agreement, and shall all sign such Confidentiality Agreement agreeing to be bound by the terms of said Agreement.

2. The Prospective Buyer will not use any of the confidential information for any reason or purpose other than to evaluate the possible purchase of the Gas Barrel Convenience Store, 2500 W.Madison St., Sioux Falls, SD 57104.

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Confidentiality AgreementPage Two

3. The Prospective Buyer will make all necessary and appropriate efforts to safeguard the Confidential Information from disclosure to anyone other than the parties involved as provided above. In furtherance of such efforts, the Prospective Buyer will not duplicate or distribute the Confidential Information to anyone other than the Prospective Buyer and the agents as provided herein.

4. The Prospective Buyer will not disclose to any person or party the fact that the Confidential Information is being made available pursuant to this Confidentiality Agreement, or not let any other party know the discussions or negotiations are taking place concerning the possible sale and purchase, and will not provide any information concerning the terms, conditions or other facts with respect to the possible sale and purchase.

5. The Prospective Buyer will return promptly, upon request of the Sellers, all documents furnished, without retaining any copy or extract therefrom. Upon return of such documents, the Prospective Buyer will continue to hold such information obtained confidential, and the same cannot be used for any purpose, including competition with the Seller.

7. No failure or delay in exercising any right, power, or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other of further exercise thereof or the exercise of any right, power, or privilege hereunder.

8. This Agreement may be executed in separate counterparts, all of which executed counterparts shall constitute one complete document.

9. The parties hereto agree that the execution of a facsimile of this Agreement shall have the same force and effect as an executed original and shall be binding upon the parties hereto.

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Confidentiality AgreementPage Three

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

SELLER:

Amandeep Singh Mangat 7

PROSPECTIVE BUYER:

By:Its:

PROSPECTIVE BUYER’S AGENT: