Conditions for release of the. Deposit to the Beneficiary a. the Supplier is declared bankrupt (faillissement); b. the Supplier discontinues its business activities, without having transferred his obligations towards the Beneficiary to a party acceptable to the Beneficiary; c. the Supplier, whether due to force majeure or not, fails to perform one or more important obligations under the licence agreement and/or the maintenance agreement, as a result of which the continuity of all or part of the computer system and/or the automated data processing (or part thereof) of the Beneficiary is or will be jeopardised, and the Supplier remains in breach of this important obligation thirty days after being given written notice of default by the Beneficiary by registered letter, with a copy to SoftcrowServices; d. the Supplier will, whether at the end of the period for which the maintenance obligation was agreed or otherwise, no longer provide Maintenance for the Software as in use by the Beneficiary; e. the Supplier and/or the Software is/are acquired by a third party, and such party does not perform in full the agreement(s) between the Supplier and the Beneficiary and/or the related agreements between the Supplier and third party suppliers that are necessary for the continued and uninterrupted use of the Software; f. the Supplier fails to perform one or more important obligations resulting from the Agreement and remains in breach of this important obligation thirty days after being given written notice of default by registered letter, with a copy to SoftcrowServices.
Appears in 4 contracts
Samples: Escrow Agreement, Escrow Agreement, Escrow Agreement
