Common use of Release Commitment Clause in Contracts

Release Commitment. (a) We will release the Album in the U.S. within one hundred twenty (120) days after Delivery (as defined below) of the Album to us, excluding December and January. If we fail to make the release within the required time, you may give us notice within sixty (60) days after the end of the required time indicating that unless we release the Album in the United States within forty-five (45) days from our receipt of the notice, you will terminate this Agreement. Your sole remedy will be to terminate this Agreement if we do not make such release in accordance with that notice. Upon termination, all rights granted to us in the unreleased Album hereunder will immediately revert back to you, and we will have no further rights to the Masters for the unreleased Album. (b) We shall have the exclusive right (but not the obligation) to commercially release the Album in countries outside of the United States. In the event you seek to cause the commercial release of the Album in a specific country(ies) ("Desired Territory") in which we have not yet released the Album, you may give us written notice of such desire, upon receipt of which we will have ninety (90) days to commercially release the Album in the Desired Territory ("Desired Territory Cure Period"). If Company does not commercially release such Album in the territory or territories specified in your notice prior to the expiration of the Desired Territory Cure Period, then, upon your written request, we will enter into an agreement with a licensee selected by you, approved by us and actually engaged in the business of manufacturing and distributing Records in the Desired Territory upon terms and conditions approved by us, regarding the grant by us to such licensee of a license for the manufacture and distribution in the Desired Territory of Records derived from such Album; provided that, such license is entered into within sixty (60) days following the expiration of the Desired Territory Cure Period. Fifty percent (50%) of net receipts derived from such licenses will be credited to your royalty account under this agreement and the balance shall be retained by us for our own account. It is specifically understood and agreed that, if we do not release Album in any country outside of the United States, we shall have no liability whatsoever to you, and your only remedy shall be as set forth in this paragraph.

Release Commitment. (a) We Company will commercially release the each Committed Album that is Delivered hereunder in the U.S. within one hundred twenty eighty (120180) days after the date of Delivery (as defined below) of such Album, provided that you shall have satisfied your obligations hereunder in connection with the Album to us, excluding December and Januaryinitial commercial release of such Album. If we fail Company fails to make do and you shall have satisfied your obligations hereunder in connection with the initial commercial release within the required timeof such Album, you may give us notice notify Company, within thirty (30) days after the end of the one hundred eighty (180) day period concerned, that you intend to terminate the Term unless Company releases the Album within sixty (60) days after Company's receipt of your notice (the “cure period”). If Company fails to do so before the end of the required time indicating that unless we release cure period, you may terminate the Album in the United States Term by giving Company notice within forty-five thirty (4530) days from our receipt after the end of the cure period. On receipt by Company of your termination notice, you the Term will terminate this Agreementend and all parties will be deemed to have fulfilled all of their obligations under it except those obligations that survive the end of the Term. Your sole only remedy for failure by Company to release an Album will be to terminate this Agreement if we do not make such release termination in accordance with that noticethis paragraph. Upon terminationIf you fail to give Company either of those notices within the period specified, all rights granted your right to us in the unreleased Album hereunder terminate will immediately revert back to you, and we will have no further rights to the Masters for the unreleased Album. (b) We shall have the exclusive right (but not the obligation) to commercially release the Album in countries outside lapse. The running of the United States. In one hundred eighty (180) day and the event you seek to cause the commercial release of the Album in a specific country(ies) ("Desired Territory") in which we have not yet released the Album, you may give us written notice of such desire, upon receipt of which we will have ninety (90) days to commercially release the Album in the Desired Territory ("Desired Territory Cure Period"). If Company does not commercially release such Album in the territory or territories specified in your notice prior to the expiration of the Desired Territory Cure Period, then, upon your written request, we will enter into an agreement with a licensee selected by you, approved by us and actually engaged in the business of manufacturing and distributing Records in the Desired Territory upon terms and conditions approved by us, regarding the grant by us to such licensee of a license for the manufacture and distribution in the Desired Territory of Records derived from such Album; provided that, such license is entered into within sixty (60) days following day periods will be suspended (and the expiration date of each of those periods will be postponed) for the period of any suspension of the Desired Territory Cure Periodrunning of the Term due to your default hereunder, or due to a force majeure event. Fifty If any such one hundred eighty (180) day or sixty (60) day period would otherwise expire on a date between October 15th and the next February 16th its running will be suspended for the duration of the period between October 15th and February 16th and its expiration date will be postponed by the same amount of time (i.e., one hundred twenty-four (124) days). Profit Split. (a) Conditioned upon your full performance of all your obligations hereunder, Company shall pay to you fifty percent (50%) of net receipts derived from such licenses will be credited to your royalty account under this agreement and the balance shall be retained by us for our own account. It is specifically understood and agreed that“Net Profits” in connection with its exploitation of Masters, if we do not release Album in less any country outside of the United States, we shall have no liability whatsoever to you, and your only remedy shall be deductible Advances as set forth in herein (hereinafter, “Your Profit Share”). In this paragraph.context, “Net Profits” means “Net Gross Receipts” less “Deductions” where:

Release Commitment. (a) We Provided you have fulfilled all your material obligations under this agreement, Company will release in the United States each Album recorded in fulfillment of your Recording Commitment within four (4) months after Delivery of the Album concerned. If Company fails to do so you may notify Company at any time after the end of the four (4) month period concerned (but before commencement of recording of the next Album of your Recording Commitment hereunder), that you intend to terminate the term of this agreement unless Company releases the Album within two (2) months after Company's receipt of your notice (the "cure period"). If Company fails to release the Album in before the U.S. within one hundred twenty (120) days after Delivery (as defined below) end of the Album to us, excluding December and January. If we fail to make the release within the required timecure period, you may give us terminate the term of this agreement by giving Company notice (the "Termination Notice") within sixty thirty (6030) days after the end of the required time indicating cure period. On receipt by Company of your Termination Notice, the term of this agreement will end and all parties will be deemed to have fulfilled their obligations hereunder except those obligations that unless we release survive the Album in the United States within forty-five (45) days from our receipt end of the noticeterm (e.g., you will terminate this Agreementwarranties, rerecording restrictions and obligations to pay royalties). Your sole remedy will be to terminate this Agreement if we do not make such release Notwithstanding paragraph 2, in accordance with that notice. Upon termination, all rights granted to us in the unreleased Album hereunder will immediately revert back to you, and we will have no further rights to the Masters for the unreleased Album. (b) We shall have the exclusive right (but not the obligation) to commercially release the Album in countries outside of the United States. In the event you seek fail to cause give Company the commercial release Termination Notice within said thirty (30) day period with respect to the last Album to be Delivered in fulfillment of the Album your Recording Commitment in a specific country(ies) ("Desired Territory") in which we have not yet released the Albumany Contract Period, you may give us written at any time thereafter notify Company that the applicable Contract Period will end on the date four (4) months from the date of the notice (but in no event earlier than one (1) year from the commencement of such desirethe Period), upon receipt of which we and Company will have ninety (90) days to commercially release through the Album in the Desired Territory ("Desired Territory Cure Period"). If Company does not commercially release such Album in the territory or territories specified in your notice prior to the expiration last day of the Desired Territory Cure Period, then, upon your written request, we will enter into an agreement with a licensee selected by you, approved by us and actually engaged in the business of manufacturing and distributing Records in the Desired Territory upon terms and conditions approved by us, regarding the grant by us Contract Period to such licensee of a license exercise its Option (if any) for the manufacture and distribution in the Desired Territory of Records derived from such Album; provided that, such license is entered into within sixty (60) days following the expiration of the Desired Territory Cure next Option Period. Fifty percent (50%) of net receipts derived from such licenses Your only remedy for failure by Company to release an Album will be credited to your royalty account under this agreement and the balance shall be retained by us for our own account. It is specifically understood and agreed that, if we do not release Album in any country outside of the United States, we shall have no liability whatsoever to you, and your only remedy shall be as set forth described in this paragraph. If you fail to give Company the Termination Notice within the period specified, your right to terminate as to that Album will lapse.