Source Code Escrow Agreement. The Escrow Agreement shall provide that the escrow agent shall release the Source Code Escrow to the State in the event of: (a) Provider’s insolvency, bankruptcy, or involvement in an involuntary proceeding for protection of its creditors, (b) Provider materially breaches this Agreement; (c) Provider fails to continue development of the Software contained in the Application; (d) Provider fails to provide the State with the most recent version of the Software contained in the Application; or (e) any other circumstance whereby Provider can no longer satisfy its obligation to provide Services to the State under this Agreement, a through e above are referred to individually as a “Release Condition” or collectively as “Release Conditions”.
Appears in 2 contracts
Sources: Saas Agreement, Saas Agreement