Series MAGR Clause Samples
The 'Series MAGR' clause defines how the Minimum Annual Guarantee Revenue (MAGR) is calculated and applied across a series of agreements or locations. Typically, this clause outlines the method for aggregating revenue or guarantee obligations when multiple units, stores, or outlets are involved under a single franchise or licensing arrangement. For example, it may specify whether the MAGR is determined on a per-location basis or as a combined total for all locations in the series. The core function of this clause is to ensure clarity and consistency in financial expectations and obligations when multiple related agreements are in place, thereby preventing disputes over how minimum guarantees are measured and enforced.
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Series MAGR. In the event that the pilot (or initial episode) for the Series is produced and exhibited in the U.S., in any media, then Seller shall be entitled to receive an amount equal to one and one half percent (1.5%) of the modified adjusted gross receipts (“MAGR”) derived from the exploitation of the Series. MAGR shall be defined, computed and paid in accordance with the applicable network’s or new media distributor’s standard definition but no less favorable than the MAGR definition accorded to Purchaser by the applicable network/new media distributor.