Common use of Theatrical Remakes Clause in Contracts

Theatrical Remakes. For each remake of the Picture (“Remake”), which Remake is intended to be initially distributed in the United States and is produced by Company, its assigns or licensees, Owner shall be paid an amount equal to: (i) one-third (1/3) of the Purchase Price paid to Owner in connection with the Picture pursuant to Paragraph 7; (ii) a percentage of “net proceeds” (if any) derived from the applicable Remake equal to one-third (1/3) of the percentage of “net proceeds” payable to Owner for the Picture payable to Owner pursuant to Paragraph 9.2 and 9.3 above.

Theatrical Remakes. For each feature-length remake of the Picture (“Remake”), which Remake is intended to be initially distributed in the United States and is produced by Company, its assigns or licensees, Owner Owners shall be paid an amount equal to: (i) one-third (1/3) of the Purchase Price paid to Owner Owners in connection with the Picture pursuant to Paragraph 7; (ii) a percentage of “net proceeds” (if any) derived from the applicable Remake equal to one-third (1/3) of the percentage of “net proceeds” payable to Owner Owners for the Picture payable to Owner Owners pursuant to Paragraph 9.2 and 9.3 9.1 above.