Transaction Summary
Software Maintenance arrangements involving holding companies with many affiliates are best accommodated by a framework allowing parties to be added through a one-page option agreement. Under this framework, a single party (typically the holding company) has the right to add additional parties (typically affiliates) to the arrangement. Several issues arise in negotiating these agreements. The affiliates added to the arrangement must be separate legal parties and must sign the one-page agreement. Typically, the party with the option to designate additional parties guarantees the performance of the affiliate. The services offered under the arrangement are the standard services available to all parties and typically include software defect resolution, customer consultations and updates as generally released by vendor. Parties should recognize the distinction between termination (or cancellation) of the Agreement and termination (or cancellation) of a particular party. You can find answers to your questions using our extensive library of
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