Escrow agreement between licensor and licensee-COMM 31

Escrow agreement between licensor and licensee

Sample

"A. The Licensee is the licensee of the Protected Documents

B. In order to protect its interest, the Licensee wishes to place a copy of the Protected Documents into the custody of a third party.

C. The Licensor has agreed to place a copy of the Protected Documents into the custody of the Escrow Agent, and the Escrow Agent has agreed to accept custody of the Protected Documents, on the terms set out below.

4.1 Within thirty (30) days of the Commencement Date, or at such time otherwise agreed between the Licensor and Licensee, the Licensor must deposit and the Escrow Agent must accept custody of the Protected Documents.

4.2 The Protected Documents must be held by the Escrow Agent as custodian agent and fiduciary in accordance with the terms of this Agreement."