Common use of Conditions for Release Clause in Contracts

Conditions for Release. 5.1 The material held in escrow shall be released to the Customer, if the Supplier or any other party whose obligations this Escrow Agreement shall ensure as specified in Appendix 1 and Appendix 2 fails to perform their contractual obligations. 5.2 The material held in escrow shall also be released to the Customer, if it can be reasonably ascertained that the Supplier or any other party whose obligations this Escrow Agreement shall ensure as specified in Appendix 1 and Appendix 2 will fail to perform their obligations in accordance with the protected agreement, for example due to bankruptcy, suspension of payments or compulsory composition. 5.3 Moreover, the material held in escrow shall be released to the Customer, if the Supplier fails to perform his obligation to update the material, cf. Section 3, and has not updated the material within 4 weeks of receiving a written demand from the Customer to this effect. 5.4 Any other conditions agreed upon for release shall be stated in Appendix 5.

Conditions for Release. 5.1 6.1 The material held in escrow shall be released to the Customer, if the Supplier or any other party whose obligations this Escrow Agreement shall ensure as specified in Appendix 1 and Appendix 2 fails to perform their contractual obligations. 5.2 6.2 The material held in escrow shall also be released to the Customer, if it can be reasonably ascertained that the Supplier or any other party whose obligations this Escrow Agreement shall ensure as specified in Appendix 1 and Appendix 2 will fail to perform their obligations in accordance with the protected agreement, for example due to bankruptcy, suspension of payments or compulsory composition. 5.3 6.3 Moreover, the material held in escrow shall be released to the Customer, if the Supplier fails to perform his obligation to update the material, cf. Section 34, and has not updated the material within 4 weeks of receiving a written demand from the Customer to this effect. 5.4 6.4 Any other conditions agreed upon for release shall be stated in Appendix 5.

Conditions for Release. 5.1 6.1 The material held in escrow shall be released to the Customer, if the Supplier or any other party whose obligations this Escrow Agreement shall ensure ensure, as specified in Appendix 1 and Appendix 2 2, fails to perform their contractual obligations. 5.2 6.2 The material held in escrow shall also be released to the Customer, if it can be reasonably ascertained that the Supplier or any other party whose obligations this Escrow Agreement shall ensure as specified in Appendix 1 and Appendix 2 will fail to perform their obligations in accordance with the protected agreement, for example due to bankruptcy, suspension of payments or compulsory composition. 5.3 6.3 Moreover, the material held in escrow shall be released to the Customer, if the Supplier fails to perform his obligation to update the material, cf. Section 34, and has not updated the material within 4 weeks of receiving a written demand from the Customer to this effect. 5.4 6.4 Any other conditions agreed upon for release shall be stated in Appendix 5.