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AG 1999 06 21
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AG 1999 06 21
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Last modified
3/25/2002 6:00:16 PM
Creation date
11/27/2017 11:49:25 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
6/21/1999
Board
Board of Commissioners
Meeting Type
Regular
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maintenance, support, or enhancement services (Support Services) with respect to the <br />License Programs provided to or used by the Licensee, pursuant to the License <br />Agreement. <br /> <br /> 5.3. Dispute by Licensor. If Licensor disagrees that its obligations have been <br />breached, Licensor shall, within five (5) days after receipt of Licensee's notice and demand <br />for release, notify both Escrow Agent and Licensee that it objects to the release of the <br />Source Code. <br /> <br />SECTION 6 <br /> <br />BANKRUPTCY OFLICENSOR <br /> <br /> 6.1. Bankruptcy of Licensor. Licensor shall be deemed to be in breach of its <br />obligations under the License Agreement and under this Agreement should any of the <br />following events occur: <br /> <br />(1) Licensor makes a general assignment for the benefit of creditors; <br /> <br />(2) Licensor voluntarily institutes proceeding to be adjudicated a <br /> bankrupt; <br /> <br />(3) Licensor consents to the filing of a petition of bankruptcy against it; <br /> <br />(4) <br /> <br />A petition of bankruptcy or insolvency is filed against Licensor and <br />remains unstayed or is not dismissed within sixty (60) days after filing; <br /> <br />(5) <br /> <br />Licensor is adjudicated by a court of competent jurisdiction as being <br />bankrupt or insolvent; <br /> <br />(6) <br /> <br />Licensor seeks reorganization under any bankruptcy act or law of <br />debtor's moratorium or consents to the filing of a petition seeking <br />such reorganization; or <br /> <br />(7) <br /> <br />Licensor has a decree entered against it by a court of competent <br />jurisdiction appointing a receivor, liquidator, trustee, or assignee in <br />bankruptcy or insolvency covering all or substantially all of Licensor's <br />property or providing for the liquidation of Licensor's property or <br />business affairs. In any such event, Licensee may thereupon so <br />notify Escrow Agent in writing and provide evidence of the same. <br />Escrow Agent shall in such event promptly release and deliver the <br />Source Code to Licensee. <br /> <br /> <br />
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