The release conditions for a software escrow agreement usually include:
- Bankruptcy;
- Company administration;
- Discontinuing support or service of the software;
- Failure to support the software that is licensed to the Beneficiary;
- Transfer of IP rights to a third party who does not provide the same level of protection provided for in the escrow agreement.
If a release condition occurs, the beneficiary can apply to the escrow agent to release the source code and other deposit materials.
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