Form Overview
The Escrow Agreement favoring the beneficiary ("icensee") structures an arrangement to serve broad licensing rights to the source code for the beneficiary under certain broadly defined contingent events. Licensee has the right to submit the release notice alleging that one of the contingent events has occurred. Agent releases the source code to licensee upon receipt of release notice so long as licensor makes no objection (in writing). Source code release disputes between licensee and licensor are handled by arbitration. The release events include bankruptcy, discontinuance of the software product, conveyance of software title to a third party and termination of business activity by licensor. The agreement provides a form release notice in an exhibit (included). Source code is deposited via magnetic media for each beneficiary using a registration statement provided by exhibit (included). The source code is sublicensed by a sublicensing agreement attached as a seperate exhibit (included). The licensee can use the source code in modifying the software and employee training. You can find answers to your questions using our extensive library of
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