✨ Legal Agreement Clauses
2686 NEW ZEALAND GAZETTE, No. 93 5 JULY 2011
(ii) goes into receivership or administration or has a receiver, manager (including a statutory manager) or administrator appointed in respect of all or any of its property; or
(b) any resolution is passed, or order is made, for the liquidation of that party,
the other party may, by notice to that party, terminate this agreement.
19.2 Other remedies: Clause 19.1 is without prejudice to any other right, power or remedy under this agreement, at law, or otherwise, that either party has in respect of a default by the other party.
19.3 Default interest: If either party does not pay any amount payable under this agreement on the due date for payment ("Due Date") that party shall pay to the other party interest (both before and after judgment) on that amount. That interest shall be:
(a) paid at the Bill Rate plus 3% per annum; and
(b) calculated on a daily basis from and including the Due Date until the unpaid amount is paid in full.
The right of a party to require payment of interest under this clause does not limit any other right or remedy of the party.
- CONFIDENTIALITY
20.1 Confidentiality: Subject to clause 20.2, each party shall keep confidential, and make no disclosure of, information obtained from the other party under this agreement or in the course of negotiations in respect of this agreement ("Information").
20.2 Permitted Disclosure: Information may be disclosed by a party if:
(a) disclosure is required by law or necessary to comply with the listing rules of any recognised stock exchange or with any requirement of the Ministers of the Crown who hold shares in a party; or
(b) disclosure is necessary to obtain the benefits of, and fulfil obligations under, this agreement; or
(c) that Information already is, or becomes, public knowledge other than as a result of a breach of clause 20.1 by that party; or
(d) disclosure is made to a bona fide financier or potential financier of that party, or to a bona fide purchaser or potential purchaser of all or part of the business of, or the shares in, that party, so long as:
(i) that party has notified the other of the proposed disclosure; and
(ii) the person to which disclosure is to be made has entered into a confidentiality agreement in a form reasonably acceptable to the other party; or(e) disclosure is made to a lawyer or accountant for that party.
20.3 Required Disclosure: If either party is required by clause 20.2(a) to make a disclosure or announcement (other than to a Minister of the Crown), it shall, before doing so:
(a) give to the other party the maximum notice reasonably practicable in the circumstances, specifying the requirement under which it is required to disclose Information, and the precise Information which it is required to disclose;
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NZ Gazette 2011, No 93
✨ LLM interpretation of page content
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Permitted Assignment Clause
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⚖️ Justice & Law EnforcementAssignment, Legal Proceedings, Contractual Terms, Financial Substance