This agreement is by and between Life Cycle Ltd. (herein referred to as the Licensee) and Publisher (hereinafter referred to as the Licensor).
Licensor warrants and represents that it is the sole and exclusive owner and publisher of all rights, including a valid copyright, in the audio recordings and the underlying musical composition(s) as recorded which will be provided to Life Cycle Ltd. by Licensor, hereinafter referred to as the "Recorded Content" if accepted, as submitted by Licensor. If Licensor is not the 100% owner of both the recording (Master rights) and the underlying recording (Sync rights), then multiple licensing agreements must be executed with all other owners in order to proceed forward.
LICENSOR GRANTS to Life Cycle Ltd. the non-exclusive and non-assignable right to represent and re-license on a worldwide basis the Recorded Content for inclusion in Life Cycle Ltd.’s for licensees’ commercial and non-commercial projects (TV shows, commercials, movies, etc.), as backing tracks or feature tracks. This does not supersede nor in any way affect any prior agreements now in effect with respect to any previously published releases of the Recorded Content. Licensing operations shall occur primarily via the Licensee’s web site’s licensing store, a fully owned Life Cycle Ltd. property. Life Cycle Ltd. may also use the Recorded Content to advertise and promote the Life Cycle Ltd. web site and attract clients to license recorded music at the web site. Life Cycle Ltd. shall determine at its sole discretion the pricing levels and negotiated licensing fees to be charged to clients for the licensing of the Recorded Songs based on usage and market conditions.
Life Cycle Ltd. shall pay to Licensor 50% of sales revenue attributable to the licensing by Licensee’s clients of the Recorded Content. In any calendar quarter in which there is one or more licensing transactions, Life Cycle Ltd. shall render and deliver to Licensor a quarterly royalty statement and payment of all royalties payable hereunder within 30 days after the end of each calendar quarter. Commission statements for each quarter shall be sent to licensor 45 days after the end of each quarter.
LICENSOR INDEMNIFIES and shall hold harmless Life Cycle Ltd. from all loss, damage of expense (including reasonable attorney’s fees) arising out of or connected with any claim by a third party which is inconsistent with any of Licensor’s warranties in Section 1 above, or by reason of any adjudication invalidating the Licensor’s copyrights in the Recorded Songs listed on Schedule A and which results in a final, adverse, non-appealable judgement or a settlement entered into with Licensor’s consent.
The term (duration) of this agreement is three years, and will automatically renew for an additional three year term unless either party wishes to discontinue and notifies the other party in writing via email or postal mail with a 30-day notice.
This Agreement is non-assignable and shall be binding upon the heirs, successors and legal representatives of each of the parties hereto. This License Agreement is made in Zagreb, and shall be governed by and construed in accordance with the laws of Croatia. Any cause of action of customer or its designated users with respect to the Service Agreement must be instituted within two years after the claim or cause of action has arisen or further action is barred.
We reserve the right to modify these Terms or its terms related to the Website and Services at any time at our discretion. When we do, we will revise the updated date at the bottom of this page. We may also provide notice to you in other ways at our discretion, such as through the contact information you have provided.
An updated version of these Terms will be effective immediately upon the posting of the revised Terms unless otherwise specified. Your continued use of the Website and Services after the effective date of the revised Terms (or such other act specified at that time) will constitute your consent to those changes.
This document was last updated on June 4, 2013