FMSMF definition
Examples of FMSMF in a sentence
If the motion picture is released for secondary commercial exhibition (including but not limited to free television, cable television, DVD or New Media exhibition, etc.), the Employer shall make payments as required under the Film Musicians’ Secondary Markets Fund (FMSMF) Agreement.
When the consumer pays (“SVOD” or Subscription Video on Demand), the Producer shall pay 1% of distributor’s gross receipts (DGR) to the Film Musicians’ Secondary Markets Fund (FMSMF).
Beyond these two streaming windows, further payment of 1.2% of DGR shall be paid to the FMSMF.
Producer also ▇▇▇▇▇▇ agrees, expressly for the benefit of the FMSMF, to make the payments 2 The parties shall utilize best efforts to ensure that the leader/contractor complies with this requirement.
The undersigned agrees to keep or have access to complete records showing the income derived from the distribution of New Media Productions in any market that may require residual payments for use of such Productions therein, within the entire territory for which Buyer is granted such rights, and the Federation and/or FMSMF shall have the right at all reasonable times to inspect such records.
Secondary market residuals are amounts paid each calendar quarter to the Film Musicians Secondary Markets Fund (FMSMF) when the film is distributed in media other than the worldwide theatrical market – those media are known as “secondary markets”.
The Producer shall pay sums due under this Paragraph 8 to the FMSMF, which will determine the musician(s) entitled to such sums and will prorate and distribute such sums among the musicians.
For distribution beyond the theatrical market, residuals will be due to musicians, payable to the Film Musicians Secondary Markets Fund (FMSMF).
For distribution beyond the primary market, residuals will be due to musicians, payable to the Film Musicians Secondary Markets Fund (FMSMF).
That percentage is sent to the FMSMF, which does the work of dividing it up amongst the musicians, sending each musician his/her payment and handling any tax reporting required.