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AG 2010 10 18
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AG 2010 10 18
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Last modified
11/15/2011 8:59:39 AM
Creation date
11/27/2017 11:23:37 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
10/14/2010
Board
Board of Commissioners
Meeting Type
Regular
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SCHEDULEI <br />Additional Considerations (continued) <br />6 Escrow <br />6.1 At Library's option, within thirty (30) days following the signing of this Agreement, The Library <br />Corporation shall add Library as a party to its already existing escrow account for the Software. <br />Such escrow account contains a current source version of all The Library Corporation's <br />application software and all associated materials. <br />6.2 The escrow company's obligation to the Library is separate and independent from any <br />obligation to The Library Corporation so that, in the event of the occurrence of a release <br />condition, it cannot be unreasonably interfered with by a bankruptcy trustee. <br />6.3 The escrow agreement shall authorize the escrow agent to release the source code to the <br />Library in the event the Escrow Agent receives from the Library: <br />6.3.1 Written notification that The Library Corporation has failed in a material respect to support the <br />applicable Systems as required by a License Agreement ( "License Agreement ") between <br />Library and The Library Corporation or that The Library Corporation has otherwise defaulted in <br />a material respect under the License Agreement ( "The Library Corporation Default "). <br />6.3.2 Evidence satisfactory to Escrow Agent that Library has previously notified The Library <br />Corporation of such Product Default in writing; <br />6.3.3 A written demand that the Deposit Materials be released and delivered to the Library; <br />6.3.4 A written undertaking from the Library that the Deposit Materials being supplied to the Library <br />will be used only as permitted under the terms of the License Agreement; <br />6.3.5 Specific instructions from the Library for this delivery. <br />6.3.6 An initial check payable to Escrow Agent in the amount of two hundred fifty dollars ($250.00). <br />6.4 The Library Corporation shall pay all basic costs of maintaining the source code in escrow, <br />including the fees of the Escrow Agent. Library shall pay an initial cost of $250, for adding <br />Library as a party to the escrow account and annual cost not to exceed $100, for remaining as <br />a party to the escrow account. Library may, at any time during the term of this Agreement, <br />have access to and review deposited Software and associated materials subject to reasonable <br />security limitations. <br />6.5 The Library Corporation shall replace the deposited software and related documentation with <br />an updated version at least once every twelve (12) months or upon The Library Corporation's <br />distribution of new release software to its Libraries. <br />Library Contract Page 23 of 23 <br />Attachment number 4 <br />F -12 Page 322 <br />
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