Common use of Source Code Escrow Agreement Clause in Contracts

Source Code Escrow Agreement. LICENSOR shall deliver to NCC Escrow International Limited (the "Escrow Agent"), simultaneously with the execution and delivery of this Agreement, the source code for the Licensed Software, and periodically thereafter as the same is created, the source code for all corrections, updates, enhancements and new versions of the Licensed Software (collectively, the "Source Code"). The Source Code shall be held and disbursed by the Escrow Agent strictly in accordance with the terms of a Source Code Escrow Agreement in the form a attached hereto as Schedule 2.6 (the "Escrow Agreement"), which will be entered into by and among LICENSOR, LICENSEE, and the Escrow Agent simultaneously with the execution and delivery of this Agreement. In the event the Source Code shall be delivered to LICENSEE by the Escrow Agent pursuant to the terms of the Escrow Agreement, LICENSEE shall thereafter have a perpetual, unlimited, worldwide, royalty free, fully paid up license to copy, reproduce, use, distribute, sublicense, modify, change, alter, translate, and improve the Software without accounting to LICENSOR. 3. Supply of Licensed Software Copies.