Designated Current Feature definition

Designated Current Feature means any theatrically released Current Feature with Domestic Box Office Receipts of no more than $80M (subject to the CPI increase set forth in Section 5.6) and designated in writing by Licensor from time to time during the Term, but not more than two (2) in each Term Year. The parties agree that the Designated Current Features for Term Year 1 shall be This Christmas and Perfect Holiday. A Designated Current Feature licensed hereunder shall be deemed a Library Film for all purposes, including, without limitation, with respect to such Designated Current Feature’s Availability Date, License Period, License Fees and exhibition commitments; provided, however, that any Designated Current Feature made available by Licensor to any Other Provider on a Pay-Per-View or Video-On-Demand basis within the later of (i) six (6) months of its Home Video Street Date, and (ii) twelve (12) months of its Initial U.S. General Theatrical Release: (a) shall be offered to Licensee as a Library PPV Program hereunder on the earliest date such Designated Current Feature is offered to any Other Provider on a Pay-Per-View and/or Video-On-Demand basis, (b) shall be offered to Licensee as a Library VOD Program hereunder on the earliest date such Designated Current Feature is offered to any Other Provider on a Pay-Per-View and/or Video-On-Demand basis; (c) shall have a Library PPV License Period that ends no earlier than the latest expiring Pay-Per-View and/or Video-On-Demand license period afforded to any Other Provider; and (d) shall have a Library VOD License Period that ends no earlier than the latest expiring Pay-Per-View and/or Video-On-Demand license period afforded to any Other Provider.

Related to Designated Current Feature