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Royalty Split Agreement
"I need a Royalty Split Agreement for a music collaboration between a Nigerian artist and an international record label, with a 60/40 split of streaming revenues, including provisions for international payments and quarterly reporting starting March 2025."
1. Parties: Identification and details of all parties involved in the royalty split agreement
2. Background: Context of the agreement, relationship between parties, and nature of the intellectual property or asset generating royalties
3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'Royalties', 'Net Revenue', 'Territory', etc.
4. Grant of Rights: Specification of the rights being granted and the basis for royalty payments
5. Royalty Split Terms: Detailed breakdown of how royalties will be split between parties, including percentages and calculation methods
6. Payment Terms: Timing, method, and currency of royalty payments, including payment thresholds if applicable
7. Accounting and Reports: Requirements for financial reporting, record-keeping, and audit rights
8. Representations and Warranties: Parties' assertions regarding their rights, authority, and capacity to enter into the agreement
9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
10. Confidentiality: Obligations regarding confidential information shared between parties
11. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes
12. General Provisions: Standard clauses including notices, entire agreement, amendments, and severability
1. International Payments: Include when royalty payments involve international transfers, addressing exchange rates and compliance with Nigerian foreign exchange regulations
2. Territory Restrictions: Include when the royalty arrangement is limited to specific geographical areas or markets
3. Sub-licensing Rights: Include when any party has the right to sub-license and how this affects royalty calculations
4. Minimum Guarantees: Include when there are minimum royalty payment guarantees
5. Tax Provisions: Include detailed tax provisions when dealing with international parties or complex tax situations
6. Marketing and Promotion: Include when parties have specific obligations regarding promotion of the asset generating royalties
7. Quality Control: Include when the agreement involves trademarks or branded products requiring quality standards
8. Force Majeure: Include specific force majeure provisions relevant to the industry or territory
1. Schedule A - Royalty Calculation Methodology: Detailed explanation of how royalties are calculated, including formulae and examples
2. Schedule B - Reporting Template: Standard format for regular royalty reports and financial statements
3. Schedule C - Licensed Property: Detailed description of the intellectual property or assets subject to royalty payments
4. Schedule D - Approved Banking Details: Banking and payment information for all parties
5. Schedule E - Territory Definition: Detailed description of geographical territories if applicable
6. Appendix 1 - Audit Procedures: Detailed procedures for conducting royalty audits
7. Appendix 2 - Escalation Procedures: Step-by-step procedures for dispute resolution and escalation
Authors
Applicable Law
Affiliate
Confidential Information
Commencement Date
Effective Date
Force Majeure Event
Gross Revenue
Intellectual Property Rights
Licensed Property
Licensed Rights
Net Revenue
Payment Period
Permitted Use
Quarter
Reporting Period
Royalties
Royalty Rate
Royalty Statement
Schedule
Territory
Term
Third Party
Working Day
Year
Nigerian Business Day
Naira
Foreign Currency
Bank Account
Commercial Exploitation
Distribution Channel
Minimum Guarantee
Net Sales
Operating Expenses
Payment Currency
Related Party
Sub-License
Taxes
Technology
Trade Marks
Usage Report
Value Added Tax
Withholding Tax
Background IP
Foreground IP
Intellectual Property
Rights Holder
Licensed Material
Revenue Share
Split Percentage
Accounting Period
Audit Rights
Default Interest Rate
Exchange Rate
Material Breach
Interpretation
Grant of Rights
Term and Duration
Royalty Calculations
Payment Terms
Reporting Requirements
Audit Rights
Confidentiality
Intellectual Property Rights
Representations and Warranties
Indemnification
Liability Limitations
Force Majeure
Assignment
Territory Restrictions
Quality Control
Record Keeping
Termination
Post-Termination Obligations
Governing Law
Dispute Resolution
Notices
Amendment
Severability
Entire Agreement
Third Party Rights
Waiver
Further Assurance
Counterparts
Costs
Tax Compliance
Foreign Exchange Compliance
Sub-licensing
Non-Competition
Anti-Corruption
Data Protection
Marketing Rights
Regulatory Compliance
Relationship of Parties
Entertainment
Music Industry
Publishing
Technology
Software Development
Manufacturing
Mining and Natural Resources
Oil and Gas
Pharmaceuticals
Biotechnology
Fashion and Design
Media and Broadcasting
Gaming Industry
Research and Development
Agriculture
Legal
Finance
Business Development
Intellectual Property
Licensing
Royalty Administration
Commercial
Rights Management
Contract Administration
Accounts Receivable
Publishing
Artist Relations
Legal Counsel
Business Development Manager
Intellectual Property Manager
Royalty Administrator
Finance Director
Commercial Director
Rights Manager
Licensing Manager
Contract Manager
Chief Financial Officer
Publishing Manager
Artist Manager
Music Producer
Content Director
Patent Attorney
Mining Rights Manager
Copyright Administrator
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