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SOFTWARE ESCROW AGREEMENT INTRODUCTORY COMMENTS: This sample agreement assumes a certain fact scenario and is not meant to be representative of, or intended to create standards for, every possible agreement whereby software developer agrees to place in escrow copies of its proprietary software for the benefit of a new media producer who has licensed the right to use the software in a new media project.. (“Escrow Agent”) a corporation incorporated under the laws of the Province of X, THE THIRD PARTY WHEREAS Developer has entered into a license agreement dated (the “License”) with Licensee wherein Developer has licensed the use of certain materials and proprietary software (the “Materials”) in connection with the development and production of an interactive web-based new media project tentatively entitled “Stranger than Fiction Interactive” (the “Web Project”) and WHEREAS Developer wishes to protect the confidentiality of its Materials while providing Licensee with access to the Materials in the event that certain circumstances described in this Agreement occur and WHEREAS Developer wishes to deposit such Materials in escrow to be held by Escrow Agent in accordance with the terms and conditions of this Agreement.. Representations, Warranties and Indemnifications (a) Escrow Agent represents and warrants that: (b) (i) Other than being a party to this Agreement, it is an independent third party in respect to the Developer and Licensee and is not an affiliated, associated or related entity to Developer or Licensee (ii) It has the right and capacity to enter into this Agreement and fully perform all of its obligations and provide the services hereunder (iii) It shall use commercially reasonable efforts to keep the Materials in safe keeping and perform its obligations as Escrow Agent in accordance with the terms of this Agreement (iv) It shall not disclose to any third party or make use of the Materials without the express written approval of Developer and Licensee
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