Common use of Master Royalties Clause in Contracts

Master Royalties. 2.1. Ownership of a Royalty Share entitles you to receive 0.0005 percent of (future) net master royalty payments derived from the Song, including net royalty payments amassed since the start of the current outstanding royalty period. 2.2. The Master Royalty Recipient has appointed MasterExchange as distributor of Master Royalties. MasterExchange will, upon receipt of Master Royalties, which for the benefit of doubt cannot be guaranteed, distribute the Master Royalties on a quarterly basis to the holders of Royalty Shares. The distribution of Master Royalties may be conducted via a third-party payment service provider. Further information regarding distribution and pay-outs of Master Royalties are available on the Platform and MasterExchange’s Terms and Conditions. 2.3. The Master Royalty Recipient undertakes not to sell, assign, or otherwise transfer its percentage of the Master Royalties such that would materially affect your share of the Master Royalties. 2.4. The Purchaser confirms that the Master Royalty Recipient and MasterExchange shall be entitled to deduct from the Purchaser any hosting fees, payment processing fees, conversion fees, taxes and other charges incurred directly or in connection with the Royalty Shares and the subsequent distribution of Master Royalties. 2.5. The Purchaser hereby waives any audit rights, or otherwise exclusively appoints and authorizes MasterExchange, in its sole discretion, to exercise such audit against the Master Royalty Recipient with respect to the accounting of the Master Royalties.