Common use of Guaranteed Minimum Royalties Clause in Contracts

Guaranteed Minimum Royalties. Licensee shall pay Licensor the below guaranteed minimum royalties for each calendar year within thirty (30) days of the end of such calendar year (i.e., by January 30th of the immediately following year) during the Term (“Guaranteed Minimum Royalties”), except that the Guaranteed Minimum Royalty for the calendar year ending December 31, 2007 (the “2007 Guaranteed Minimum Royalty”) shall be due upon the earlier of (i) the date of Licensee’s receipt of funds from the closing of the Rights Offering and, if required, the Back-Stop (each as defined in the Membership Interest Purchase Agreement dated as of June 1, 2007 by and among Licensee, CKX, Inc., and Flag Luxury Properties, LLC, as amended) or (ii) April 1, 2008, provided that if the 2007 Guaranteed Minimum Royalty is paid to Licensor after December 1, 2007 it shall bear interest as set forth in the table below. The Guaranteed Minimum Royalty shall be non-refundable but actual royalties paid during the applicable calendar year shall be applied against the Guaranteed Minimum Royalty. Notwithstanding any of the foregoing, any direct payments made by a Project Company or other Person that holds a Site License to Licensor shall be applied against the Guaranteed Minimum Royalties due to Licensor hereunder. Calendar Year Amount Calendar year ending December 31, 2007 $9,000,000, plus interest on any amount thereof paid after December 1, 2007, from December 1, 2007 until the date of payment at the following interest rates: From December 1, 2007 through December 31, 2007 - the then current prime rate as quoted in The Wall Street Journal (the “Prime Rate”) plus 3% per annum; From January 1, 2008 through January 31, 2008 — the then current Prime Rate plus 3.5% per annum; From February 1, 2008 through February 29, 2008 - the then current Prime Rate plus 4.0% per annum; and From and after March 1, 2008 — the then current Prime Rate plus 4.5% per annum. Calendar year ending December 31, 2008 $9,000,000 Calendar year ending December 31, 2009 $9,000,000 Calendar year ending December 31, 2010 $18,000,000 Calendar year ending December 31, 2011 $18,000,000 Calendar year ending December 31, 2012 $18,000,000 Calendar year ending December 31, 2013 $22,000,000 Calendar year ending December 31, 2014 $22,000,000 Calendar year ending December 31, 2015 $22,000,000 Calendar year ending December 31, 2016 $22,000,000 Every calendar year thereafter during the Term The Guaranteed Minimum Royalty for the immediately previous calendar year plus five percent (5%)

Guaranteed Minimum Royalties. Licensee shall pay Licensor the below guaranteed minimum royalties for each calendar year within thirty (30) days of the end of such calendar year (i.e., by January 30th of the immediately following year) during the Term (“Guaranteed Minimum Royalties”), except that the Guaranteed Minimum Royalty for the calendar year ending December 31, 2007 (the “2007 Guaranteed Minimum Royalty”) shall be due upon the earlier of (i) the date of Licensee’s receipt of funds from the closing of the Rights Offering and, if required, the Back-Stop (each as defined in the Membership Interest Purchase Agreement dated as of June 1, 2007 by and among Licensee, CKX, Inc., and Flag Luxury Properties, LLC, as amended) or (ii) April 1, 2008, provided that if the 2007 Guaranteed Minimum Royalty is paid to Licensor after December 1, 2007 it shall bear interest as set forth in the table below. The Guaranteed Minimum Royalty shall be non-refundable but actual royalties paid during the applicable calendar year shall be applied against the Guaranteed Minimum Royalty. Notwithstanding any of the foregoing, any direct payments made by a Project Company or other Person that holds a Site License to Licensor shall be applied against the Guaranteed Minimum Royalties due to Licensor hereunder. Calendar Year Amount Calendar year ending December 31, 2007 $9,000,0001,000,000, plus interest on any amount thereof paid after December 1, 2007, from December 1, 2007 until the date of payment at the following interest rates: From December 1, 2007 through December 31, 2007 - the then current prime rate as quoted in The Wall Street Journal (the “Prime Rate”) plus 3% per annum; From January 1, 2008 through January 31, 2008 — the then current Prime Rate plus 3.5% per annum; From February 1, 2008 through February 29, 2008 - the then current Prime Rate plus 4.0% per annum; and From and after March 1, 2008 — the then current Prime Rate plus 4.5% per annum. Calendar year ending December 31, 2008 $9,000,000 1,000,000 Calendar year ending December 31, 2009 $9,000,000 1,000,000 Calendar year ending December 31, 2010 $18,000,000 2,000,000 Calendar year ending December 31, 2011 $18,000,000 2,000,000 Calendar year ending December 31, 2012 $18,000,000 2,000,000 Calendar year ending December 31, 2013 $22,000,000 3,000,000 Calendar year ending December 31, 2014 $22,000,000 3,000,000 Calendar year ending December 31, 2015 $22,000,000 3,000,000 Calendar year ending December 31, 2016 $22,000,000 3,000,000 Every calendar year thereafter during the Term The Guaranteed Minimum Royalty for the immediately previous calendar year plus five percent (5%)”

Guaranteed Minimum Royalties. Licensee shall pay Licensor the below guaranteed minimum royalties for each calendar year within thirty (30) days of the end of such calendar year (i.e., by January 30th of the immediately following year) during the Term (“Guaranteed Minimum Royalties”), except that the Guaranteed Minimum Royalty for the calendar year ending December 31, 2007 (the “2007 Guaranteed Minimum Royalty”) shall be due upon the earlier of (i) the date of Licensee’s receipt of funds from the closing of the Rights Offering and, if required, the Back-Stop (each as defined in the Membership Interest Purchase Agreement dated as of June 1, 2007 by and among Licensee, CKX, Inc., and Flag Luxury Properties, LLC, as amended) or (ii) April 1, 2008, provided that if the 2007 Guaranteed Minimum Royalty is paid to Licensor after December 1, 2007 it shall bear interest as set forth in the table below. The Guaranteed Minimum Royalty shall be non-refundable but actual royalties paid during the applicable calendar year shall be applied against the Guaranteed Minimum Royalty. Notwithstanding any of the foregoing, any direct payments made by a Project Company or other Person that holds a Site License to Licensor shall be applied against the Guaranteed Minimum Royalties due to Licensor hereunder. Calendar Year Amount Calendar year ending December 31, 2007 $9,000,000, plus interest on any amount thereof paid after December 1, 2007, from December 1, 2007 until the date of payment at the following interest rates: From December 1, 2007 through December 31, 2007 - the then current prime rate as quoted in The Wall Street Journal (the “Prime Rate”) plus 3% per annum; From January 1, 2008 through January 31, 2008 — - the then current Prime Rate plus 3.5% per annum; From February 1, 2008 through February 29, 2008 - the then current Prime Rate plus 4.0% per annum; and From and after March 1, 2008 — - the then current Prime Rate plus 4.5% per annum. Calendar year ending December 31, 2008 $$ 9,000,000 Calendar year ending December 31, 2009 $$ 9,000,000 Calendar year ending December 31, 2010 $$ 18,000,000 Calendar year ending December 31, 2011 $$ 18,000,000 Calendar year ending December 31, 2012 $$ 18,000,000 Calendar year ending December 31, 2013 $$ 22,000,000 Calendar year ending December 31, 2014 $$ 22,000,000 Calendar year ending December 31, 2015 $$ 22,000,000 Calendar year ending December 31, 2016 $$ 22,000,000 Every calendar year thereafter during the Term The Guaranteed Minimum Royalty for the immediately previous calendar year plus five percent (5%)

Guaranteed Minimum Royalties. Licensee shall pay Licensor the below guaranteed minimum royalties for each calendar year within thirty (30) days of the end of such calendar year (i.e., by January 30th of the immediately following year) during the Term (“Guaranteed Minimum Royalties”), except that the Guaranteed Minimum Royalty for the calendar year ending December 31, 2007 (the “2007 Guaranteed Minimum Royalty”) shall be due upon the earlier of (i) the date of Licensee’s receipt of funds from the closing of the Rights Offering and, if required, the Back-Stop (each as defined in the Membership Interest Purchase Agreement dated as of June 1, 2007 by and among Licensee, CKX, Inc., and Flag Luxury Properties, LLC, as amended) or (ii) April 1, 2008, provided that if the 2007 Guaranteed Minimum Royalty is paid to Licensor after December 1, 2007 it shall bear interest as set forth in the table below. The Guaranteed Minimum Royalty shall be non-refundable but actual royalties paid during the applicable calendar year shall be applied against the Guaranteed Minimum Royalty. Notwithstanding any of the foregoing, any direct payments made by a Project Company or other Person that holds a Site License to Licensor shall be applied against the Guaranteed Minimum Royalties due to Licensor hereunder. Calendar Year Amount Calendar year ending December 31, 2007 $9,000,0001,000,000, plus interest on any amount thereof paid after December 1, 2007, from December 1, 2007 until the date of payment at the following interest rates: From December 1, 2007 through December 31, 2007 - the then current prime rate as quoted in The Wall Street Journal (the “Prime Rate”) plus 3% per annum; From January 1, 2008 through January 31, 2008 — - the then current Prime Rate plus 3.5% per annum; From February 1, 2008 through February 29, 2008 - the then current Prime Rate plus 4.0% per annum; and From and after March 1, 2008 — - the then current Prime Rate plus 4.5% per annum. Calendar year ending December 31, 2008 $9,000,000 $ 1,000,000 Calendar year ending December 31, 2009 $9,000,000 $ 1,000,000 Calendar year ending December 31, 2010 $18,000,000 $ 2,000,000 Calendar year ending December 31, 2011 $18,000,000 $ 2,000,000 Calendar year ending December 31, 2012 $18,000,000 $ 2,000,000 Calendar year ending December 31, 2013 $22,000,000 $ 3,000,000 Calendar year ending December 31, 2014 $22,000,000 $ 3,000,000 Calendar year ending December 31, 2015 $22,000,000 $ 3,000,000 Calendar year ending December 31, 2016 $22,000,000 $ 3,000,000 Every calendar year thereafter during the Term The Guaranteed Minimum Royalty for the immediately previous calendar year plus five percent (5%)”