Event of Release definition

Event of Release means one or more of the following events: (a) Contractor ceases to provide Maintenance and Support for the Licensed Software as provided in this Agreement and/or fails to provide such support through another appropriate source; (b) Contractor ceases doing business as a going concern; (c) Contractor files a voluntary petition in bankruptcy or any petition for similar relief; (d) any involuntary petition in bankruptcy is filed against Contractor and shall not have been dismissed within sixty (60) days from the filing thereof; (e) a receiver is appointed for Contractor or any material portion of the property of Contractor; (f) Contractor makes an assignment for the benefit of creditors; or (g) Contractor is unable to pay its debts as they become due. Unless otherwise agreed between the parties, Contractor shall bear the escrow fees due under such escrow agreement. In the event of a release of the Deposit Materials to the JBE, Contractor hereby grants to the JBE a non-exclusive, perpetual, fully paid-up license to reproduce and use such Deposit Materials for the sole and exclusive purpose of providing support and maintenance for the Licensed Software. Notwithstanding any provision in the Source Code Escrow Agreement, in the event that the Source Code is released pursuant to such Source Code Escrow Agreement, the JBE shall have the right to approach, negotiate or contract directly or indirectly with any party, including without limitation any subcontractor to or affiliate of Contractor, for the purpose of procuring ongoing maintenance and support services for the Licensed Software Source Code.

Event of Release means one or more of the following events: (a) Contractor has materially breached an obligation to provide Maintenance and Support for the Licensed Software as provided in this Agreement and/or fails to provide such support through another appropriate source and (i) such material breach will cause the JBE to incur immediate and substantial injury for which money damages, or such other remedies provided by this Agreement, would be inadequate, (ii) the JBE is not in breach of the terms of this Agreement and (iii) the JBE has terminated this Agreement in accordance with the terms of this Agreement; (b) Contractor’s duly appointed trustee in a bankruptcy or dissolution proceeding of Contractor requests in writing that the escrow agent release the Deposit Materials to the JBE; (c) Contractor requests in writing that the escrow agent release the Deposit Materials to the JBE; (d) Contractor takes any action under any state corporation or similar law that will cause both the dissolution of the corporate existence of Contractor and the liquidation by Contractor of its assets; or (e) a court of competent jurisdiction or an arbitrator, if applicable, issues an order or judgment directing the escrow agent to release the Deposit Materials to the JBE. Unless otherwise agreed between the parties, Contractor shall bear the escrow fees due under such escrow agreement; provided that if such escrow agreement is not Contractor’s existing escrow agreement with InnovaSafe, Inc., the JBE shall bear the escrow fees due under such escrow agreement. In the event of a release of the Deposit Materials to the JBE, Contractor hereby grants to the JBE a non-exclusive, perpetual, fully paid-up license to reproduce and use such Deposit Materials for the sole and exclusive purpose of providing support and maintenance for the Licensed Software. Notwithstanding any provision in the Source Code Escrow Agreement, in the event that the Source Code is released pursuant to such Source Code Escrow Agreement, the JBE shall have the right to approach, negotiate or contract directly or indirectly with any party, including without limitation any subcontractor to or affiliate of Contractor, for the purpose of procuring ongoing maintenance and support services for the Licensed Software Source Code.

Event of Release means (a) the dissolution or liquidation of Xchange or the institution by or against Xchange of any bankruptcy, reorganization, debt arrangement, assignment for the benefit of creditors or other proceeding under any bankruptcy or insolvency law or dissolution, receivership or liquidation proceeding that remains unstayed or undismissed for a period of ninety (90) days; or (b) any unjustified and permanent failure on the part of Xchange to materially fulfill its maintenance and support obligations in accordance with the terms of this Agreement after written notice of such failure and an opportunity to cure within thirty (30) days of such written notice and without the occurrence of any breach by Xxxxxxxx.

Examples of Event of Release in a sentence

• If Nortel wishes to dispute the occurrence of an Event of Release, it shall provide written notice of its objection to Avici within thirty (30) Days of the date or receipt of the escrow agent's notice.

• Charge to Income in the Event of Release of Restrictions on Shares.

• The purpose of the Bank Account is for (a) the deposit of all Escrowed Funds (b) the holding of Escrowed Funds until pending certain events as established herein (and Event of Release, collectively Events of Release), and (c) the disbursement of Escrowed Funds, all as described herein.

• Under PSP, performance is measured by comparing Rinker's total shareholder return (TSR) – which takes into account share price appreciation, dividends and capital returns received over the relevant period – with a group of peer companies.

• In the event that the Escrow Agent does not receive the certificate of Telematics mentioned in Section 6.3 above within the Notice Period, an Event of Release shall be deemed to have occurred and the Escrow Agent shall, in accordance with Section 7.2, deliver the Escrow Materials to Derech Eretz.

• If Contractor is issued a PO for any Site which is then land banked or otherwise suspended by Company for any reason other than Contractor’s breach, and which Company within twelve (12) months after land banking or suspending the Site determines to proceed with, provided that an Event of Release from Exclusivity has not occurred prior to or after Company’s determination, Company will not engage any third party other than Contractor to perform that Work.

• If an Event of Release has occurred or is deemed to have occurred and the Escrow Agent is required to deliver the Escrow Materials to Derech Eretz pursuant to this Agreement, the Escrow Agent shall deliver all the Escrow Materials, to Derech Eretz within the time period as set out above and the Escrow Agent shall thereafter have no further obligation or responsibility to Derech Eretz in respect of the Escrow Materials.

• If Derech Eretz is aware of the occurrence of an Event of Release as set out in Section 6.1 above, then Derech Eretz may send a Notice of Release to the Escrow Agent and Telematics by telefacsimile, with an original by the same-day or overnight courier or by hand, setting out the particulars of such alleged Event of Release.

• Telematics acknowledges that the purpose of this Agreement is to provide Derech Eretz and the State, if there is an Event of Release, with disclosure of, access to and the right to use, modify, revise, upgrade, alter and enhance, the material contained in the Transponder Documents so that Derech Eretz may provide for the manufacture of CIH Transponders without recourse to, or the involvement or participation of, Telematics.

More Definitions of Event of Release

Event of Release means one or more of the following events:

Event of Release shall have the meaning set forth in Section 2.9 hereof.