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Tennessee Contracts Agreements
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SOURCE CODE ESCROW AGREEMENT

Tennessee Jurisdiction

TABLE OF CONTENTS

  1. Parties and Purpose
  2. Deposit Materials
  3. Deposits and Updates
  4. Verification and Testing
  5. Release Conditions
  6. Release Procedures
  7. Post-Release License Rights
  8. Fees and Payment
  9. Confidentiality and Security
  10. Trade Secret Protections
  11. Warranties and Disclaimers
  12. Indemnities
  13. Limitation of Liability
  14. Term and Termination
  15. Governing Law and Dispute Resolution
  16. Tennessee-Specific Provisions
  17. Miscellaneous
  18. Schedules

1. PARTIES AND PURPOSE

  • Licensor deposits source code and related materials for [PRODUCT] with Escrow Agent for the benefit of [BENEFICIARY].

2. DEPOSIT MATERIALS

  • Source code, build scripts, configuration files, third-party dependencies, documentation, and installation instructions.

3. DEPOSITS AND UPDATES

  • Initial deposit within [X] days; updates aligned to major/minor releases or at least [quarterly/biannually].

4. VERIFICATION AND TESTING

  • Optional verification levels at Beneficiary's cost; Escrow Agent provides reports.

5. RELEASE CONDITIONS

  • Narrow triggers: (a) insolvency/bankruptcy; (b) cessation of business; (c) material breach with failure to cure [X] days; (d) SaaS unavailability for [Y] consecutive days.

6. RELEASE PROCEDURES

  • Beneficiary submits sworn statement; Licensor may object within [X] days.

7. POST-RELEASE LICENSE RIGHTS

  • Non-exclusive, non-transferable license to use, maintain, and modify Deposit Materials.

8. FEES AND PAYMENT

  • Per Schedule 1; paid by [Licensor/Beneficiary/split].

9. CONFIDENTIALITY AND SECURITY

  • Escrow Agent confidentiality; secure storage; breach notification obligations.

10. TRADE SECRET PROTECTIONS

  • Tennessee Trade Secrets Act (Tenn. Code Ann. sections 47-25-1701 to 47-25-1709). Injunctive relief available per section 47-25-1703.

11. WARRANTIES AND DISCLAIMERS

  • Licensor warrants rights to deposit; materials "as is" upon release.

12. INDEMNITIES

  • Licensor indemnifies for third-party IP claims.

13. LIMITATION OF LIABILITY

  • Caps consistent with master agreement; enforceable under Tennessee law.

14. TERM AND TERMINATION

  • Coterminous with maintenance/support term.

15. GOVERNING LAW AND DISPUTE RESOLUTION

  • Governing Law: Tennessee law.
  • Venue: State/federal courts in [Davidson County (Nashville) / Shelby County (Memphis)], Tennessee.
  • Jury Waiver: TO THE FULLEST EXTENT PERMITTED BY TENNESSEE LAW, EACH PARTY WAIVES JURY TRIAL RIGHTS.

16. TENNESSEE-SPECIFIC PROVISIONS

  • E-Signatures: Valid per Tennessee UETA (Tenn. Code Ann. sections 47-10-101 to 47-10-123).
  • Tennessee Information Protection Act: Parties shall comply with TIPA for any personal data in Deposit Materials.
  • Consumer Protection: Tennessee Consumer Protection Act (Tenn. Code Ann. sections 47-18-101 et seq.) applies as applicable.

17. MISCELLANEOUS

  • Notices, assignment, force majeure, amendments, counterparts.

18. SCHEDULES

  • Schedule 1: Fee Schedule; Schedule 2: Deposit Inventory; Schedule 3: Verification; Schedule 4: Release Forms.
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