Escrow Release Events definition

Escrow Release Events see Section 5.5.6 of this Agreement. Executable code (in lower case) means a series of one or more instructions executable after suitable processing by a computer or other programmable machine, without compilation or assembly.
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Escrow Release Events shall occur at the time which the Company has delivered a written notice to the Impound Agent (i) certifying that subscriptions for the purchase of a minimum amount of 2,400,000 Units have been received by the Company; (ii) directing the Impound Agent to pay all of the deposits of the Escrow Account to the Company; and (iii) the Company has sent written notification to the Administrators that the Impound Agent has released the deposits in the Escrow Account to the Company.
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Escrow Release Events has the meaning given to such term in Paragraph 2.3(e) of this Agreement.
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Examples of Escrow Release Events in a sentence

  • The copy of the Source Code to be deposited in escrow pursuant to this Agreement shall be released to DTN only upon the occurrence of one or more of the Escrow Release Events as defined in the Service Agreement.

  • The parties shall enter into a new Escrow Agreement pursuant to which SmartServ will place the Source Code for the Internet Software in escrow to be released to DTN upon the occurrence of one or more Escrow Release Events.

  • Notwithstanding the foregoing, upon the occurrence of one or more of the Escrow Release Events, DTN may at its sole cost elect to provide its own maintenance of the Internet Software and the Hardware, in which case DTN shall have no further obligation to pay the License Fees and SmartServ shall have no further obligations under Article 4 of this Agreement.

  • If Licensee desires to obtain any Source Code Escrow Package from the Escrow Agent upon the occurrence of one or more of the Escrow Release Events, then Licensee shall comply with the procedures set forth in the Escrow Agreement to document the occurrence of the one or more of the Escrow Release Events.

  • The purpose of the source code escrow is to provide for retention, administration and controlled access and release of the deposit materials to Licensee under certain conditions listed below (the "Escrow Release Events").


More Definitions of Escrow Release Events

Escrow Release Events means those release events designated as such in the Escrow Agreement;
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