Venture-Produced Programming. Venture-produced Programming will be ---------------------------- developed by mutual agreement between Bloomfield and PEGI. Such programming will be produced locally by a Xxxxxxxx Affiliate or under Bloomfield's direction, consistent with PEGI's standards and subject to PEGI's approval, not to be unreasonably withheld. A budget for Venture-produced programming will be identified in the Business Plan and annual Budgets.
12.2.1 PEGI may recommend a supervising producer for a Venture-produced program. If such person is approved by Bloomfield (which approval will not be unreasonably withheld), he/she will be paid in accordance with the Venture's production budget; if not approved, the Venture will allow such person to supervise production, but at PEGI's expense. Such supervising producer shall have control over the content and look of the program, consistent with the standards for the Playboy Programming.
12.2.2 With respect to each Venture-produced Program, PEGI will have 10 business days following the receipt of a program to approve such program or request changes in writing; if no such approval or request for changes is delivered to the Venture within this 10 business day period, PEGI will be deemed to have approved such program. The costs of making changes requested by PEGI will be borne by the Venture.
12.2.3 After the Venture makes any changes requested by PEGI pursuant to Section 12.2.2, PEGI will have 5 business days from receipt of the changed program to approve such program or request additional changes in writing; if no such approval or request for changes is delivered within this 5 business day period, PEGI will be deemed to have approved such program. If the changes initially requested by PEGI have not been made to PEGI's reasonable satisfaction, the costs of making further changes to conform to such initial comments will be borne by the Venture. The costs of making any new changes pursuant to this Section 12.2.3 will be borne by the Venture, up to a cap of 2.5% or the program's original production cost, with any overage to be paid by PEGI.
12.2.4 After the Venture makes any changes requested by PEGI pursuant to Section 12.2.3, PEGI will have 5 business days from receipt of the changed program to approve such program or request additional changes in writing; if no such approval or request for changes is delivered in this 5 business day period, PEGI will be deemed to have approved such program. The costs of making any further changes not initially...
