Business Continuity Escrow

Within __ days of the Effective Date, the parties shall execute a third party escrow agreement in the form attached hereto as Attachment __ (“the SaaS Escrow Agreement”) in conjunction with ______________ (the “Escrow Agent”). The following are “Escrow Breaches”: (a) Provider’s material breach of the SaaS Escrow Agreement; and (b) Customer’s material breach of any of the following provision of the SaaS Escrow Agreement: Section __ (Nondisclosure) and ____. An Escrow Breach constitutes material breach of this Agreement, authorizing the non-breaching party to terminate this Agreement for cause pursuant to Section __ (Termination for Cause), in addition to such other remedies as it may have.

Enter your information and connect with us to learn about training for contract managers, procurement professionals, and lawyers.