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Often, the only notice that a licensee has that there is a problem or defect with software that it has licensed is when “something goes wrong” with the version the licensee is operating. However, there may be other defects in the software that the licensee is not aware of (for example, in the performance of certain calculations) that only the licensor and other licensees who have uncovered the problem are aware of. Thus, the licensee could be using software that gives erroneous results without knowing it. The following clause requires the licensor to provide notice to licensee of any defects it becomes aware of, either on its own or from other licensees: In the event that during the term of this Agreement, Licensor becomes aware of an event, occurrence, error, defect or malfunction in the Product that may adversely affect Licensee, then Licensor will promptly provide Licensee with written notice of the event, occurrence, error, defect or malfunction and the possible adverse effect, as well as a proposed remedy therefor. John A. Gliedman is a senior associate in the New York office of Brown Raysman Millstein Felder & Steiner LLP.

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