Music Business

Independent Label Recording Agreement (6)

The Music Telegraph | Text 2019/08/27 [16:11]
Music Business

Independent Label Recording Agreement (6)

The Music Telegraph| 입력 : 2019/08/27 [16:11]

 

© Giphy

  

 

 

Independent Label Recording Agreement (6) 

 

 

Mechanical Royalties (Check one and fill in appropriate blanks)

[     ] Artist acknowledges and agrees that Company will pay a royalty for the mechanical license on all Records manufactured for sale or commercial distribution at _____% of the minimum compulsory license rate (the "Company Mechanical Rate") applicable in the country of manufacture. The applicable minimum statutory rate shall be determined as of the date of the commencement of the recording of the applicable Master Recording. Mechanical Royalties shall not be payable with respect to musical compositions of one minute or less in duration.

[     ] Artist acknowledges and agrees that Company will pay a royalty for the mechanical license on all Records manufactured for sale or commercial distribution at _____% of the minimum compulsory license rate (the "Company Mechanical Rate") applicable in the country of manufacture. The applicable minimum statutory rate shall be determined as of the date of the commencement of the recording of the applicable Master Recording. Mechanical Royalties shall not be payable with respect to musical compositions of one minute or less in duration. For each Master Recording, Company shall only pay a sum equivalent to the Company Mechanical Royalty Rate multiplied by _____.

 

 

Leaving Members (Check if applicable)

[     ] If any member of Artist ceases to perform as a member of the group ("Leaving Member"),Artist shall promptly give Company written notice. If the group disbands, each member of the group shall be considered to be a Leaving Member. Artist grants to Company an irrevocable option to engage the exclusive serviecs of any Leaving Member as a recording artist. In the event of Company's exercise of this option, the Leaving Member shall be considered to have entered into an agreement with Company upon all the terms and conditions of this Agreement, including the initial term, the first option term, payments, royalties and all other applicable terms. The Leaving Member shall not, however, be responsible for any outstanding Artist debts including unrecouped advances.

 

 

Termination

Company may terminate this Agreement within thirty (30) days of the expiration of the Term or any Option Period. Artist can terminate this Agreement if Company fails to pay Artist's Royalties when due or to accurately report Net Sales and the failure is not corrected within thirty days after notice from Artist. If this Agreement is breached because of a failure to pay or accurately report royalties all rights granted under this agreement shall revert to Artist and Company shall have no further rights regarding Artist or the Master Recordings.

If this Agreement is terminated for a reason other than Company's failure to pay or accurately report Artist's Royalties, the termination shall not terminate the underlying license and copyrights granted to Company by Artist or Company's obligations to pay Royalties under this Agreement.

 

 

Termination in the Event of Leaving Member

Within ninety (90) days of receipt of notice of any Leaving Member, as defined in the Leaving Member Section, Company shall have the right to terminate the Agreement with respect to the remaining members of Artist. In the event of such termination, all members of Artist shall be deemed to be Leaving Members.

 

 

 

 

 

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