Common use of Release Conditions Clause in Contracts

Release Conditions. GE 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 GE 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.