Series Soundtrack Album Mechanical Rights Sample Clauses

Series Soundtrack Album Mechanical Rights. Owner hereby grants to Production Company and its designees the nonexclusive right throughout the universe and in perpetuity, to include one or more of the Compositions in any album intended to constitute the soundtrack album for the Series and to be distributed by or on behalf of Production Company its heirs, licensees and/or assigns (the “Series Album”), and to exploit any such Composition(s), in whole or in part, for all purposes contemplated herein. In full consideration of Owner’s granting of such rights in respect of the Composition(s), in respect of net sales through normal distribution channels of fullpriced, top-line records embodying any such Composition(s) in the United States and Canada, Production Company shall pay or cause to be paid a “mechanical” royalty to Owner at Seventy Five Percent (75%) of the minimum statutory rate (without regard to playing time) or the equivalent in effect at the time of the initial sale of any such Other Series Album (in any qualifying form or format) embodying said Composition(s) hereunder in the United States or Canada, and at such rates generally applicable to record distributors in the particular country in question outside of the United States and Canada, otherwise calculated, reduced, prorated, adjusted, paid and accounted for pursuant to and in accordance with Production Company’s or its designee’s then-customary practices and procedures. Without limiting the generality of the foregoing, Owner hereby grants to Production Company and its designees the irrevocable right, in perpetuity and throughout the universe, to print and reproduce, at Production Company’s or its designee’s election, the title and lyrics to any such Composition(s) on any component of the packaging of records hereunder without payment to Owner, any other writer or composer of the Compositions, or any other party in connection therewith. 5.1.5.