Common use of With respect to Clause in Contracts

With respect to. Master Recordings of The Artist licensed to third parties on a flat-fee basis, conditioned upon The Artist's full and faithful performance of all of the terms and conditions hereunder, The Record Company shall pay to The Artist fifty percent (50%) of the net amount received by The Record Company under each such license. With respect to Master Recordings of The Artist licensed to third parties on a royalty basis, and with respect to Phonograph recordings (including Albums, 12" singles, 45 rpm singles, mini-discs, cassette singles and any other configurations embodying Master Recordings of The Artist) released through a Distributor selected by The Record Company, conditioned upon The Artist's full and faithful performance of all of the terms and conditions hereunder, The Record Company shall pay to The Artist the lesser of (A) fifty percent (50%) of The Record Company's net earned royalty receipts under each such license or Distribution Agreement, or (B) one-half (1/2) of the "Basic Album Rate" or "Basic Singles Rate" (as detailed in paragraphs 12(b)(i) and (ii), below), as the case may be. For the purposes of this paragraph, the term "net amount" or "net earned royalty receipts" shall mean the gross royalties and advances received by The Record Company from the third part licensee or Distributor less all recording costs, any and all advances, royalties payable to the producer of the Master Recordings, video production costs, promotion and publicity expenses, payments to third parties in connection with a the exploitation of rights, copyright fees, union fund payments (including so-called "re-use" payments), and any other costs or expenses incurred by The Record Company which are directly related to the production, promotion, or exploitation of the Master Recordings hereunder.