Common use of Release Conditions Clause in Contracts

Release Conditions. Licensee shall be entitled to a copy of the escrowed materials if: (i) Licensor ceases doing business and its business is not continued by another corporation or entity, or is continued by another corporation or entity which Licensee for reasonable cause deems unsatisfactory; (ii) Licensor becomes insolvent or party to any bankruptcy or receivership proceedings or makes an assignment for the benefit of creditors; or (iii) Licensor is in material default of performance under this Agreement, including, but not limited to, discontinuance or a material breach of the Support Services provisions set forth herein, or of any software maintenance agreement then in effect.