Common use of Release Conditions Clause in Contracts

Release Conditions. The Escrow Agent shall release the Deposit Material to Licensee solely under any of the following conditions (each a "Release Condition"): (i) appointment, or consent to a receiver, trustee or other custodian for Licensor or substantially all of its assets, or application for same if such application is not lifted within 14 days; (iii) Licensor makes an assignment for the benefit of creditors; (iv) Licensor is liquidated or dissolved, or any proceedings are commenced with regard to Licensor under any bankruptcy, insolvency, or debtor’s relief law which are not lifted within 14 days from commencement; (v) any failure by Licensor to function as a going concern.

Release Conditions. The Escrow Agent shall release the Deposit Material to Licensee solely under any of the following conditions (each a "“Release Condition"”): (i) appointment, or consent to a receiver, trustee or other custodian for Licensor or substantially all of its assets, or application for same if such application is not lifted within 14 days; (iii) Licensor makes an assignment for the benefit of creditors; (iv) Licensor is liquidated or dissolved, or any proceedings are commenced with regard to Licensor under any bankruptcy, insolvency, or debtor’s relief law which are not lifted within 14 days from commencement; (v) any failure by Licensor to function as a going concern.

Release Conditions. The Escrow Agent shall release the Deposit Material to Licensee solely under any of the following conditions (each a "Release Condition"): (i) appointment, or consent to a receiver, trustee or other another custodian for Licensor or substantially all of its assets, or application for same if such application is not lifted within 14 days; (iii) Licensor makes an assignment for the benefit of creditors; (iv) Licensor is liquidated or dissolved, or any proceedings are commenced with regard to Licensor under any bankruptcy, insolvency, or debtor’s relief law which are not lifted within 14 days from commencement; (v) any failure by Licensor to function as a going concern.