Subsequent Production Sample Clauses

Subsequent Production. If within seven (7) years after the initial general theatrical release (if any) of the Picture, if Company or its assignee elects (in its sole discretion) to create an initial live action theatrical sequel to and/or an initial live action theatrical prequel to and/or the initial live action theatrical remake of the Picture (collectively the “Theatrical Production") and provided Director receives sole “Directed by" credit for the Picture and is then active as a director in the theatrical motion picture industry and is available as, when and where reasonably required by Company, then Company shall first negotiate in good faith (within Company's standard parameters but in no event upon financial terms for Director's directing services less favorable to Director than the financial terms as set forth in this Agreement) with Director on the direction for the first such Theatrical Production. If Producer and Director fail to agree on terms for Director's services on such Theatrical Production within thirty (30) days following Company's service of notice on Director of the commencement of negotiations therefore, if Director is unavailable, or if Director elects not to direct, then Company shall the right to engage another director(s) and shall have no further obligation to Director. If Company and Director enter into such an agreement for the initial Theatrical Production, such agreement shall contain a provision substantially similar to this Paragraph 23.