Common use of Royalty Payments and Accountings Clause in Contracts

Royalty Payments and Accountings. (a) We shall send to you statements for royalties payable hereunder on or before the date ninety (90) days after the end of each of our then-current semi-annual accounting periods (currently ending on June 30 and December 31), together with payment of royalties, if any, earned by you hereunder during the semi-annual period for which the statement is rendered (based on our receipts in the United States during the accounting period for which the statement is rendered), less all advances and charges under this Contract. Notwithstanding the foregoing, after the Term, no royalty statement shall be required to be rendered for any semi-annual accounting period in which less than Seven Thousand Five Hundred Dollars ($7,500) in royalties are credited to your account (whether by exploitation of Masters or liquidation of reserves) unless (i) royalties are otherwise actually payable to you for that semi-annual accounting period; or (ii) you notify us in writing of your request that we render to you a statement for the semi-annual accounting period in which we receive that request on the date otherwise required hereunder. We shall have the right to retain, as a reserve against charges, credits, or returns, such portion of payable royalties as shall be reasonable in our best business judgment. Promptly after your written request therefor referring specifically to this subparagraph 10(a), which you may render to us not more than once during each semi-annual accounting period hereunder, we shall consult with you regarding the amount of reserves which we intend to retain for the semi-annual accounting period in question, provided that our failure to do so shall not constitute a breach hereof. Our decision with respect thereto, however, shall be final. We shall liquidate each reserve retained by us as shall be reasonable in our best business judgment but not later than the end of the fourth (4th) semi-annual accounting period following that accounting period in which the reserve was initially retained. Any accounting period in which returns exceed shipments of Phonograph Records hereunder shall not be deemed to be one (1) of those four (4) semi-annual accounting periods by the end of which a particular reserve must be liquidated. You shall reimburse us on demand for any overpayments, and we may also deduct the amount thereof from any monies payable to you hereunder. Returns of Phonograph Records distributed for sale in the United States shall be pro-rated between Phonograph Records sold for which a Phonograph Record royalty is payable hereunder and Phonograph Records distributed on a "no-charge" or "free goods" basis for which no Phonograph Record royalty is payable in the same proportion that those Phonograph Records are initially invoiced. Royalties paid by us on Phonograph Records subsequently returned shall be deemed overpayments;

Royalty Payments and Accountings. (a) We shall send to you statements for royalties payable hereunder on or before the date ninety (90) days after the end of each of our then-current semi-annual accounting periods (currently ending on June 30 and December 31), together with payment of royalties, if any, earned by you hereunder during the semi-annual period for which the statement is rendered (based on our receipts in the United States during the accounting period for which the statement is rendered), less all advances and charges under this Contract. Notwithstanding the foregoing, after the Term, no royalty statement shall be required to be rendered for any semi-annual accounting period in which less than Seven Five Thousand Five Hundred Dollars ($7,5005,000) in royalties are credited to your account (whether by exploitation of Masters or liquidation of reserves) unless (i) royalties are otherwise actually payable to you for that semi-annual accounting period; or (ii) you notify us in writing of your request that we render to you a statement for the semi-annual accounting period in which we receive that request on the date otherwise required hereunder. We shall have the right to retain, as a reserve against charges, credits, or returns, such portion of payable royalties as shall be commercially reasonable and customary in the industry in our best business judgment. Promptly after your written request therefor referring specifically to this subparagraph 10(a), which you may render to us not more than once during each semi-annual accounting period hereunder, we shall consult with you regarding the amount of reserves which we intend to retain for the semi-annual accounting period in question, provided that our failure to do so shall not constitute a breach hereof. Our decision with respect thereto, however, shall be final. We shall liquidate each reserve retained by us as shall be reasonable in our best business judgment but not later than the end of the fourth (4th) semi-annual accounting period following that accounting period in which the reserve was initially retained. Any accounting period in which returns exceed shipments of Phonograph Records hereunder shall not be deemed to be one (1) of those four (4) semi-annual accounting periods by the end of which a particular reserve must be liquidated. You shall reimburse us on demand for any overpayments, and we may also deduct the amount thereof from any monies payable to you hereunder. Returns of Phonograph Records distributed for sale in the United States shall be pro-rated between Phonograph Records sold for which a Phonograph Record royalty is payable hereunder and Phonograph Records distributed on a "no-charge" or "free goods" basis for which no Phonograph Record royalty is payable in the same proportion that those Phonograph Records are initially invoiced. Royalties paid by us on Phonograph Records subsequently returned shall be deemed overpayments;

Royalty Payments and Accountings. (a) We shall send to you statements for royalties payable hereunder on or before the date ninety (90) days after the end of each of our then-current semi-annual accounting periods (currently ending on June 30 and December 31), together with payment of royalties, if any, earned by you hereunder during the that semi-annual period for which the statement is rendered (based on our receipts in the United States States, or credits to our account in final reduction of advances previously received by us in the United States, during the accounting period for which the statement is rendered), less all advances and charges under this Contract. Notwithstanding hereunder which are paid or incurred prior to the foregoing, after the Term, no royalty statement shall be required to be rendered for any semi-annual accounting period in which less than Seven Thousand Five Hundred Dollars ($7,500) in royalties are credited to your account (whether by exploitation end of Masters or liquidation of reserves) unless (i) royalties are otherwise actually payable to you for that semi-annual accounting period; or (ii) you notify us in writing of your request that we render to you a statement for the semi-annual accounting period for which the statement is rendered, unless paid or incurred later than the end of that accounting period for any reason within your control or which you could have reasonably avoided. Accountings shall be rendered to you in which we receive that request accordance with our customary policy applicable thereto. Royalties shall be paid on the date 100% of gross sales, after deducting from gross sales returns, credits, and reserves and otherwise required hereundercalculated in accordance with our customary policies applicable thereto. We shall have the right to retain, as a reserve against charges, credits, or returns, such portion of payable royalties as shall be reasonable in our best business judgmentjudgment exercised reasonably and in good faith. Promptly after your written request therefor referring specifically Our best business judgment in connection with the liquidation of each reserve retained by us shall include, without limitation, our reasonable, good-faith analysis of actual sales, reorders and returns of phonograph records hereunder to this subparagraph 10(a), which you may render the extent that information is available to us not more than once during each as of the end of any particular semi-annual accounting period and our actual sales, reorders and returns patterns for our records generally other than records hereunder. You shall be solely responsible for and shall pay all royalties and other monies required to be paid to Artists, to the producers of the Masters (including, without limitation, to Xxxxxxx) and to any other persons, firms or corporations for and in connection with the production and recording of Masters and of our and our designee's exploitation of Masters hereunder in records or otherwise. If you furnish us with appropriate letters of direction, we shall consult with prepare and deliver to you regarding accounting statements (at the amount same time we render accounting statements to you hereunder) which reflect the royalties that you are required to account for and pay to third- party payees based on our exploitation of reserves which we the Masters hereunder ("Third-Party Royalty Payees"). Promptly after your receipt of those accounting statements, but in no event later than 30 days thereafter, you shall pay all royalties reflected on those accounting statements to Third-Party Royalty Payees. If you do not intend to retain for the semior shall fail to so pay royalties to any Third-annual accounting period in questionParty Royalty Payee, provided then you promptly shall notify us thereof so that we may pay those royalties. Upon our failure to do so shall not constitute a breach hereof. Our decision with respect theretodemand, however, you shall be final. We shall liquidate each reserve retained pay to us an amount equal to those royalties paid by us as shall be reasonable in our best business judgment but not later than to any Third-Party Royalty Payee. Commencing with the end of the fourth (4th) semi-annual accounting period following that accounting period in which the reserve was initially retained. Any accounting period in which returns exceed shipments of Phonograph Records hereunder we shall not be deemed have recouped any and all advances and other charges against royalties hereunder, you hereby irrevocably authorize and direct us to be one (1) of those four (4) semi-annual accounting periods by the end of which a particular reserve must be liquidated. You shall reimburse us on demand for any overpayments, pay and we may also deduct shall have the amount thereof from right to pay, at our sole election, directly to Third-Party Royalty Payees any monies payable or all of the royalties reflected on accounting statements prepared by us. Payments made by us to Third-Party Royalty Payees shall be made solely as an accommodation to you hereunder. Returns of Phonograph Records distributed for sale in the United States such that no Third-Party Royalty Payee shall be proa third-rated between Phonograph Records sold for which a Phonograph Record royalty is payable hereunder and Phonograph Records distributed on a "no-charge" or "free goods" basis for which no Phonograph Record royalty is payable in the same proportion that those Phonograph Records are initially invoiced. Royalties paid by us on Phonograph Records subsequently returned shall be deemed overpayments;party beneficiary of this Agreement.

Royalty Payments and Accountings. (a) We shall send to you statements for royalties payable hereunder on or before the date ninety (90) days after the end of each of our then-current semi-annual accounting periods (currently ending on June 30 and December 31), together with payment of royalties, if any, earned by you hereunder during the semi-annual semiannual period for which the statement is rendered (based on our receipts in the United States during the accounting period for which the statement is rendered), less all advances and charges under this Contract. Notwithstanding the foregoing, after the Term, no royalty statement shall be required to be rendered for any semi-annual accounting period in which less than Seven Five Thousand Five Hundred Dollars ($7,5005,000) in royalties are credited to your account (whether by exploitation of Masters or liquidation of reserves) unless (i) royalties are otherwise actually payable to you for that semi-annual accounting period; or (ii) you notify us in writing of your request that we render to you a statement for the semi-annual accounting period in which we receive that request on the date otherwise required hereunder. We shall have the right to retain, as a reserve against charges, credits, or returns, such portion of payable royalties as shall be commercially reasonable and customary in the industry in our best business judgment. Promptly after your written request therefor referring specifically to this subparagraph 10(a), which you may render to us not more than once during each semi-annual accounting period hereunder, we shall consult with you regarding the amount of reserves which we intend to retain for the semi-annual accounting period in question, provided that our failure to do so shall not constitute a breach hereof. Our decision with respect thereto, however, shall be final. We shall liquidate each reserve retained by us as shall be reasonable in our best business judgment but not later than the end of the fourth (4th) semi-annual accounting period following that accounting period in which the reserve was initially retained. Any accounting period in which returns exceed shipments of Phonograph Records hereunder shall not be deemed to be one (1) of those four (4) semi-annual accounting periods by the end of which a particular reserve must be liquidated. You shall reimburse us on demand for any overpayments, and we may also deduct the amount thereof from any monies payable to you hereunder. Returns of Phonograph Records distributed for sale in the United States shall be pro-rated between Phonograph Records sold for which a Phonograph Record royalty is payable hereunder and Phonograph Records distributed on a "no-charge" or "free goods" basis for which no Phonograph Record royalty is payable in the same proportion that those Phonograph Records are initially invoiced. Royalties paid by us on Phonograph Records subsequently returned shall be deemed overpayments;

Royalty Payments and Accountings. (a) We shall send to you statements for royalties payable hereunder on or before the date ninety (90) days after the end of each of our then-current semi-annual accounting periods (currently ending on June 30 and December 31), together with payment of royalties, if any, earned by you hereunder during the semi-annual semiannual period for which the statement is rendered (based on our receipts in the United States during the accounting period for which the statement is rendered), less all advances and charges under this Contract. Notwithstanding the foregoing, after the Term, no royalty statement shall be required to be rendered for any semi-annual accounting period in which less than Seven Five Thousand Five Hundred Dollars ($7,5005,000) in royalties are credited to your account (whether by exploitation of Masters or liquidation of reserves) unless (i) royalties are otherwise actually payable to you for that semi-annual accounting period; , or (ii) you notify us in writing of your request that we render to you a statement for the semi-annual accounting period in which we receive that request on the date otherwise required hereunder. We shall have the right to retain, as a reserve against charges, credits, or returns, such portion of payable royalties as shall be commercially reasonable and customary in the industry in our best business judgment. Promptly after your written request therefor referring specifically to this subparagraph 10(a), which you may render to us not more than once during each semi-annual accounting period hereunder, we shall consult with you regarding the amount of reserves which we intend to retain for the semi-annual accounting period in question, provided that our failure to do so shall not constitute a breach hereof. Our decision with respect thereto, however, shall be final. We shall liquidate each reserve retained by us as shall be reasonable in our best business judgment but not later than the end of the fourth (4th) semi-annual accounting period following that accounting period in which the reserve was initially retained. Any accounting period in which returns exceed shipments of Phonograph Records hereunder shall not be deemed to be one (1) of those four (4) semi-annual accounting periods by the end of which a particular reserve must be liquidated. You shall reimburse us on demand for any overpayments, and we may also deduct the amount thereof from any monies payable to you hereunder. Returns of Phonograph Records distributed for sale in the United States shall be pro-rated between Phonograph Records sold for which a Phonograph Record royalty is payable hereunder and Phonograph Records distributed on a "no-charge" or "free goods" basis for which no Phonograph Record royalty is payable in the same proportion that those Phonograph Records are initially invoiced. Royalties paid by us on Phonograph Records subsequently returned shall be deemed overpayments;