Common use of Establishment of the Escrow Clause in Contracts

Establishment of the Escrow. ACCOUNT Company agrees to place a copy of the Source Code into an escrow account (the "Escrow") with ABC. If there is more than one Product listed in Attachment A, Company may, at its option, establish separate escrow accounts for each Product's Source Code. Company shall ensure that the copy of the Source Code that is deposited in the Escrow at any given time is the latest version. Company will cause Siemens to be designated as a "Registered Licensee" SIEMENS / CASTLE OEM CONTRACT (a beneficiary) of the Escrow by executing a Licensee Escrow Agreement in Siemens' name for each Product and submitting such Exhibits to ABC. The terms of the Escrow shall be governed by the Licensee Escrow Agreement. Upon receipt by ABC of the executed Attachment H from Company, ABC will send to Siemens a copy of the Licensee Escrow Agreement. As a condition to Siemens' status as a "Registered Licensee" becoming effective, Siemens agrees to promptly execute and return to ABC the Licensee Escrow Agreement.

Establishment of the Escrow. ACCOUNT Company agrees to place a copy of the Source Code into an escrow account (the "Escrow") with ABC. If there is more than one Product listed in Attachment A, Company may, at its option, establish separate escrow accounts for each Product's Source Code. Company shall ensure that the copy of the Source Code that is deposited in the Escrow at any given time is the latest version. Company will cause Siemens to be designated as a "Registered Licensee" SIEMENS / CASTLE OEM CONTRACT CONTRACT (a beneficiary) of the Escrow by executing a Licensee Escrow Agreement in Siemens' name for each Product and submitting such Exhibits to ABC. The terms of the Escrow shall be governed by the Licensee Escrow Agreement. Upon receipt by ABC of the executed Attachment H from Company, ABC will send to Siemens a copy of the Licensee Escrow Agreement. As a condition to Siemens' status as a "Registered Licensee" becoming effective, Siemens agrees to promptly execute and return to ABC the Licensee Escrow Agreement.