Form Overview
The Escrow Agreement favoring the licensor provides a framework for depositing multiple copies of source code for multiple beneficiaries under a single document designed to limit the circumstances under which the code is released to such beneficiaries. Release notice is issued by licensor, the form of which is provided in an exhibit (included). Licensor has a contractual obligation to issue release notice if an event of bankruptcy occurs. Licensor failure to issue release notice is subject to allegation of breach (and arbitration). The event of bankruptcy is narrowly defined. The structure of the agreement favors a registration statement and separate deposit for each beneficiary, the form of which is included in an exhibit (included). The source code is released by the escrow agent, pursuant to a source code sublicense, the form of which is attached to the agreement as an exhibit (included). The sublicense is very restrictive and subject to cancellation for breach. Under the escrow agreement, agent assigns the sublicense to licensor for enforcement. The agreement does not require updates for the source code, nor is validation of operability of the source code deposit required. You can find answers to your questions using our extensive library of
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