Sponsor License. Notwithstanding the foregoing, in the event the licensee of the Film or Collection is a sponsor of 48HFP or the Project (“Sponsor”) as determined by 48HFP, 48HFP will retain 100% of all proceeds, if any, from any such license. 48HFP’s net proceeds for the purposes of this paragraph 6 shall be defined, computed, paid and accounted for pursuant to 48HFP’s standard definition, which shall include allowances for the deduction from gross receipts 48HFP’s customary deductions including, without limitation, distribution fees, distribution expenses, and overhead. 48HFP shall make semi-annual (i.e., twice per year) reports to Team Leader, provided, however, that 48HFP need not issue a report if Team Leader has not accumulated revenue to report. 48HFP shall issue checks to Team Leader on a semi-annual basis so long as total revenue for a Team Leader has reached a minimum of $25.
Appears in 9 contracts
Samples: S Agreement, ’s Agreement, ’s Agreement
