Release Events for Source Code Sample Clauses
The 'Release Events for Source Code' clause defines the specific circumstances under which source code must be made available or released, typically to a licensee or third party. This clause outlines triggering events such as bankruptcy, breach of contract, or discontinuation of support, which would obligate the licensor to provide access to the source code. Its core practical function is to protect the licensee’s interests by ensuring continued access to the software’s source code in situations where the licensor can no longer fulfill their obligations, thereby mitigating risks associated with software dependency.
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Release Events for Source Code. The Source Code and related documentation shall be released from escrow and delivered to Isis upon the occurrence of one or more of the following events (each, a "Release Event"): (I) if RoboDesign becomes insolvent or admits insolvency or admits a general inability to pay its debts as they become due; (II) if RoboDesign files a petition for protection under the Bankruptcy Code of the United States, or an involuntary petition in bankruptcy is filed against RoboDesign and is not dismissed within sixty (60) days thereafter; (III) if RoboDesign or its successor with respect to this Agreement ceases operations as a going concern or (IV) RoboDesign refuses to or is unable to honor the warranty set forth in Section 5.1 or provide post warranty service under Section 5.2.