Common use of Release Committee Clause in Contracts

Release Committee. 7.1 If the parties have special requests as to the composition, powers, procedure, etc., of the Release Committee, this shall be specified in Appendix 6. 7.2 In so far as no position have been taken in this respect, a Release Committee shall be appointed consisting of three impartial members with thorough knowledge of computing and computer law. The members shall be appointed by Danish Technological Institute in co-operation with the Danish Institute of Arbitration or the Danish Computing Association, if required. If the services or the Danish Institute of Arbitration or the Danish Computing Association are used, the Customer and/or the Supplier shall pay the costs of the procedure. 7.3 The Release Committee shall immediately convene a meeting with the parties. The Release Committee shall make its decision based on statements made by the parties, available contract material and any examinations deemed necessary by the Release Committee. 7.4 In general, the Release Committee shall determine its own procedures. If one of the parties requests it, the Release Committee’s well-substantiated written decision shall be made as quickly as possible. Any specific deadlines for the Release Committee’s work shall be stated in Appendix 6. 7.5 The Release Committee shall decide whether one or more of the conditions for release in accordance with this Escrow Agreement and associated appendices has been fulfilled. 7.6 In making its decision, the Release Committee shall determine who of the parties to this Escrow Agreement shall pay the costs of the case, including any legal costs. In distributing the costs, the Release Committee shall take into account whether the matter was brought before the Release Committee with good reason. 7.7 The Release Committee shall also decide when its decision must be complied with. However, the decision of the Release Committee should normally be complied with no later than 14 calendar days after the decision was made. 7.8 Unless otherwise stated in Appendix 6, the decision of the Release Committee shall be final.

Release Committee. 7.1 8.1 If the parties have special requests as to the composition, powers, procedure, etc., of the Release Committee, this shall be specified in Appendix 6. 7.2 8.2 In so far as no position have been taken in this respect, a Release Committee shall be appointed consisting of three impartial members with thorough knowledge of computing and computer law. The members shall be appointed by Danish Technological Institute in co-operation with the Danish Institute of Arbitration or the Danish Computing Association, if required. If the services or the Danish Institute of Arbitration or the Danish Computing Association are used, the Customer and/or the Supplier shall pay the costs of the procedure. 7.3 8.3 The Release Committee shall immediately convene a meeting with the parties. The Release Committee shall make its decision based on statements made by the parties, available contract material and any examinations deemed necessary by the Release Committee. 7.4 8.4 In general, the Release Committee shall determine its own procedures. If one of the parties requests it, the Release Committee’s well-substantiated written decision shall be made as quickly as possible. Any specific deadlines for the Release Committee’s work shall be stated in Appendix 6. 7.5 8.5 The Release Committee shall decide whether one or more of the conditions for release in accordance with this Escrow Agreement and associated appendices has been fulfilled. 7.6 8.6 In making its decision, the Release Committee shall determine who of the parties to this Escrow Agreement shall pay the costs of the case, including any legal costs. In distributing the costs, the Release Committee shall take into account whether the matter was brought before the Release Committee with good reason. 7.7 8.7 The Release Committee shall also decide when its decision must be complied with. However, the decision of the Release Committee should normally be complied with no later than 14 calendar days after the decision was made. 7.8 8.8 Unless otherwise stated in Appendix 6, the decision of the Release Committee shall be final.

Release Committee. 7.1 8.1 If the parties to this Escrow Agreement have special requests as to the composition, powers, procedure, etc., of the Release Committee, this shall be specified in Appendix 6. 7.2 8.2 In so far as no position have has been taken in this respect, a Release Committee shall be appointed consisting of three impartial members with thorough knowledge of computing and computer law. The members shall be appointed by Danish Technological Institute in co-operation cooperation with the Danish Institute of Arbitration or the Danish Computing Association, if required. If the services or the Danish Institute of Arbitration or the Danish Computing Association are used, the Customer and/or the Supplier shall pay the costs of the procedure. 7.3 8.3 The Release Committee shall immediately convene a meeting with the parties. The Release Committee shall make its decision based on statements made by the parties, available contract material and any examinations deemed necessary by the Release Committee. 7.4 8.4 In general, the Release Committee shall determine its own procedures. If one of the parties requests it, the Release Committee’s well-substantiated written decision shall be made as quickly as possible. Any specific deadlines for the Release Committee’s work shall be stated in Appendix 6. 7.5 8.5 The Release Committee shall decide whether one or more of the conditions for release in accordance with this Escrow Agreement and associated appendices has been fulfilled. 7.6 8.6 In making its decision, the Release Committee shall determine who of the parties to this Escrow Agreement shall pay the costs of the case, including any legal costs. In distributing the costs, the Release Committee shall take into account whether the matter was brought before the Release Committee with good reason. 7.7 8.7 The Release Committee shall also decide consider when its decision must be complied with. However, the decision of the Release Committee should normally be complied with no later than 14 calendar days after the decision was made. 7.8 8.8 Unless otherwise stated in Appendix 6, the decision of the Release Committee shall be final.