Exclusive License Agreement
Dear valued customer, we would like to invite you to review our agreement and contact us with any questions you may have. Our agreements are designed to prevent any misunderstandings and to help us build a long-lasting working relationship with you. Please feel free to reach out to us as terms are flexible. Thank you for choosing our services.
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This Beat Lease Contract ("Contract") is made and entered into as of [Date], by and between:
Seller:
Ty Knight, doing business as Knightvision LLC
[Address]
[Email]
Licensee:
[Licensee's Name]
[Address]
[Email]
1
License Grant and Term
1.1 Exclusive Beat License: Seller hereby grants Licensee an exclusive, perpetual license to use the beat titled “[Beat Title]” (the "Beat"). This license does not expire and provides Licensee with full rights to the Beat as specified in this Contract.
1.2 Effective Date: The Effective Date of this Contract is [Start Date].
2
Payment and Royalties
2.1 Purchase Amount: Licensee agrees to pay Seller the sum of [Purchase Amount] for the exclusive use of the Beat.
2.2 Royalties: Seller shall be entitled to fifteen percent (15%) of all royalties and revenues generated from any recordings produced using the Beat. Licensee agrees to account for and pay such royalties on a quarterly basis.
3
Rights and Ownership
3.1 Ownership: Seller relinquishes all ownership rights in the Beat, except for retaining a five percent (5%) share of publishing ownership.
3.2 Transferability: The license granted under this Contract is fully transferable. Licensee may transfer the license to a third party, provided that the royalty splits and publishing ownership shares as outlined in this Contract remain intact and unchanged.
4
Use and Restrictions
4.1 Usage: The Beat may be used by Licensee for music production and distribution indefinitely.
4.2 Re-licensing: Licensee shall not sublicense the Beat to any third party without ensuring that the royalty and publishing ownership splits remain consistent with the terms of this Contract.
5
Termination
5.1 Termination: Given the perpetual nature of this license, termination provisions are not applicable. However, if either party is in breach of any material term of this Contract, the non-breaching party may seek legal remedies as appropriate.
6
Miscellaneous
6.1 Governing Law: This Contract shall be governed by and construed in accordance with the laws of the state of [Your State].
6.2 Dispute Resolution: Any disputes arising under or in connection with this Contract shall be resolved through binding arbitration in [City, State].
6.3 Entire Agreement: This Contract constitutes the entire agreement between the parties regarding the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral.
6.4 Amendments: This Contract may be amended only in a writing signed by both parties.
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IN WITNESS WHEREOF, the parties hereto have executed this Beat Lease Contract as of the day and year first above written.
Seller:
Ty Knight, Knightvision LLC
By: ____________________________
Name: Ty Knight
Title: [Title]
Date: ___________________________
Licensee:
[Licensee's Name]
By: ____________________________
Name: [Licensee's Name]
Title: [Title]
Date: ___________________________
