Common use of Release Event Clause in Contracts

Release Event. The definitive escrow agreement will provide for the ------------- release of the Source Materials to Ramp in the event of (a) institution by or against Sonic of insolvency, receivership or bankruptcy proceedings or any other proceedings for the settlement of Sonic's debts, provided such proceeding is not dismissed within forty-five (45) days after its filing, (b) upon Sonic's making an assignment for the benefit of creditors, or (c) upon Sonic's dissolution or ceasing to do business (each of Sections 10.2(a), (b), and (c) an "Event"). -----

Release Event. The definitive escrow agreement will provide for the ------------- release of the Source Materials to Ramp in the event of (a) institution by or against Sonic of insolvency, receivership or bankruptcy proceedings or any other proceedings for the settlement of Sonic's debts, provided such proceeding is not dismissed within forty-five (45) days after its filing, (b) upon Sonic's making an assignment for the benefit of creditors, or (c) upon Sonic's dissolution or ceasing to do business (each of Sections 10.2(a), (b), and (c) an "Event"). -----,