Multiple Beneficiaries - Minimum Service - Separated Products "MB-Min-SP" Software Escrow Agreement

Description

The Multiple Beneficiaries - Minimum Service - Separated Products "MB-Min-SP" Software Escrow Agreement is a two party agreement between the Owner (licensor) and EscrowTech. This agreement is a hybrid between the MB-Min and the MB-SP Software Escrow Agreements. Any number of Beneficiaries may be added to this agreement at any time.

Please note that this is a minimum-service escrow. As such, Beneficiaries will not receive notifications from EscrowTech. In many cases, a Beneficiary will require a full-service escrow to better protect their escrow rights. EscrowTech offers the MB-Min-SP service to Owners for situations where the Beneficiaries do not require a full-service escrow and where some of the Products are shared between Beneficiaries but other Products are not.

The source code that is escrowed (aka "Deposit Materials") is organized by Product and each Beneficiary will have escrow rights only to the Products specified by the Owner. This type of agreement should be used in the following situation:

• There is exactly one Owner.
• There is any number of Beneficiaries.
• The Beneficiaries do not need a full-service escrow.
• The Deposit Materials are best stored by Product and not all Beneficiaries should have access to all of the Products.

If you only have one product or if all of your Beneficiaries should have escrow rights to all of your products then we recommend you consider our Multiple Beneficiary - Minimum Service "MB-Min" Software Escrow Agreement. If your Beneficiaries request a full-service software escrow then we recommend the Multiple Beneficiaries - Separated Products "MB-SP" Software Escrow Agreement.

How the MB-Min-SP Escrow Works

A Multiple Beneficiaries - Minimum Service - Separated Products Software Escrow begins with the Owner and EscrowTech signing the Software Escrow Agreement. This agreement outlines the details of the Software Escrow. The Owner then submits a list of Beneficiaries to EscrowTech. This list specifies:

• The contact information for each Beneficiary.
• A list of the Products for which the Beneficiary has escrow rights.

Once the Software Escrow Agreement is established, the Owner then submits the Deposit Materials to EscrowTech for each Product. If a Release Condition occurs then EscrowTech releases the applicable Deposit Materials to the Beneficiary. It's that simple!

Seting up the Software Escrow

Are you ready to setup a software escrow? The first step in setting up a software escrow is to contact EscrowTech. We can provide you with the necessary forms and answer any additional questions. EscrowTech can be contacted by phone at 801-852-8202 or fill out this contact form and an EscrowTech Software Escrow Expert will contact you soon.

Do you have any questions or need any clarification? If so, give EscrowTech a call at 801-852-8202 or send us an email. Our experts are trained to help you find the Software Escrow that meets your specific needs.