Attachment K SAMPLE SOFTWARE ESCROW AGREEMENT ...
Attachment K SAMPLE SOFTWARE ESCROW AGREEMENT ...
Attachment K SAMPLE SOFTWARE ESCROW AGREEMENT ...
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enjoined by any order of court, or any other order, judgment or decree shall be made or entered<br />
by any court affecting such property, or any part thereof, or any act of the Escrow Agent, the<br />
Escrow Agent is hereby expressly authorized in its sole discretion to obey and comply with all<br />
writs, orders, judgments or decrees so entered or issued, whether with or without jurisdiction,<br />
and in case the Escrow Agent obeys and complies with any such writ, order, judgment or decree<br />
it shall not be liable to ____________ or End-User, their successors, heirs, or personal<br />
representatives or to any other person, firm or corporation, by reason of such compliance<br />
notwithstanding that such writ, order, judgment or decree be subsequently reversed, modified,<br />
annulled, set aside or vacated.<br />
Section 29. In the event of doubt by the Escrow Agent as to its duties or liabilities under<br />
the provisions of this Escrow Agreement, unless ____________ and the End-User provide<br />
evidence in writing to the Escrow Agent that they mutually agree to the disbursement or<br />
retention of any media containing Source Codes, the Escrow Agent shall continue to hold such<br />
media which is the subject of this Escrow Agreement until (i) a determination respecting<br />
disposition of such media is made by the Maryland State Board of Contract Appeals, when such<br />
determination is not appealed in a timely fashion; or (ii) a judgment by a court of competent<br />
jurisdiction determining the rights of the parties to the media containing the Source Codes.<br />
However, should suit be filed or appeal taken to a court of competent jurisdiction and such<br />
litigation be unresolved 60 days before the end of the term of this Escrow Agreement and<br />
renewal hereof, the Escrow Agent may deposit the disputed media containing Source Codes then<br />
held pursuant to the Escrow Agreement with the Clerk of the Circuit Court of the County having<br />
jurisdiction over the dispute and, upon immediate notification of such action to ____________<br />
and End-User, all liability on the part of the Escrow Agent with respect to its actions relating to<br />
such deposited media from the date after such deposit, shall fully terminate. In the event of any<br />
edit between ____________ and the End-User wherein the Escrow Agent is made a party by<br />
virtue of acting as such Escrow Agent hereunder, or in the event of any suit wherein Escrow<br />
Agent interpleads the subject matter of this Escrow Agreement, the Escrow Agent agrees to<br />
submit to suit in the State of Maryland, and, unless itself liable, shall be entitled to recover from<br />
the parties reasonable attorney's fees and costs incurred, said fees and costs to be charged and<br />
assessed as court costs in favor of the prevailing party. ____________ and End-User agree that<br />
the Escrow Agent shall not be liable to them or to any other person, corporation or other entity<br />
for monies and other property subject to this Escrow Agreement, except for misdelivery thereof<br />
due to willful or negligent breach of this Escrow Agreement or other negligence on the part of<br />
the Escrow Agent in performance of its obligations hereunder.<br />
Section 30. Any notices required or permitted under this Escrow Agreement shall be in<br />
writing and delivered in person or sent by registered or certified mail, return receipt requested<br />
with proper postage prepaid, properly addressed as set forth below unless otherwise directed in<br />
writing by ____________, Escrow Agent or End-User. Notice shall be effective the date noted<br />
on the return receipt card, or upon delivery, if delivered in person.<br />
For :____________<br />
Name: _______________________________