What is a Release Event?

What is a Release Event?

Escrow “Release Events” are the scenarios and conditions in which a release or partial release of the materials held by Harbinger as the escrow agent would be warranted. In a typical software escrow agreement, Release Events are not inevitable but serve as business continuity planning if some pre-negotiated event should occur.

Harbinger’s standard escrow agreements support a wide array of release conditions already however we can also work with you to draft special Release Events that meet your particular business requirements. Typical Release Conditions may include:

  • Bankruptcy of Vendor
  • Cessation of Vendor’s business
  • Failure to support the terms of a license, support agreement or other agreement
  • Failure to meet pre-defined service level requirements
  • Death of key personnel
  • Developer’s acquisition by a key competitor
  • Other

Data held by Harbinger is only released under strict conditions and the positive existence of a release event that is stipulated in the escrow services agreement. In that case, the vendor’s escrowed material is released to the end-user so that they may continue business normally.

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