WebMethods Agreement Sample Clauses

WebMethods Agreement. Seller and Buyer agree that Buyer shall have up to nine months to determine if the technical components, licenses and other applicable information (collectively, the "webMethods Intellectual Property") contained in, and the subject of, the webMethods Professional Services Agreement dated July 7, 2000 is necessary for Buyer's use of the Acquired Assets. If Buyer determines in its sole discretion that it wants to acquire the webMethods Intellectual Property, then Buyer, without any further notice to Seller or the Shareholders and without complying with the provisions of Section 9 hereto, may use the cash known as the Third Escrow Fund to acquire the rights to the webMethods Intellectual Property. Upon Buyer's acquisition of the webMethods Intellectual Property, it shall provide to Seller a written receipt of Buyer's payment to webMethods for the webMethods Intellectual Property. If within nine (9) months from the date hereof Buyer does not determine in its sole discretion to acquire the webMethods Intellectual Property, then it shall pay the cash known as the Third Escrow Fund to Seller within 5 days from the date that is nine (9) months from the date hereof.
Sample 1
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Related to WebMethods Agreement

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