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Contract Case Study

Decent Essays

The term of the agreement started on January 1, 2007 with the expiration date set for December 31, 2009. According to Section 4(a) of Agreement the term may be extended in six month increments until such time as Publisher serves a written notice upon Licensee that the tern shall terminate at the end of the current is (6) month period. If the termination is not terminated for cause due to a material breach by Licensee, which is not cured, Licensee has the right to collect monies earned during the Term but paid after the end thereof for a period of nine (9) months. Otherwise, all rights granted to Licensee will automatically revert to and be sole and exclusive property of Publisher w/o formality or execution of any documents. Publisher …show more content…

Any notice, accounting or other communications shall be written and mailed, telegraphed, or wired to wither party at the following address below or to such other address as either party may designate in writing to the other. Copies of all notices to Publisher must be served on Lisa Thomas Music Services at 8354 NE Elon Road, Kingston, WA 98346 USA. Notice will be deemed given 49 hours after the deposit by either party. Side note: Secion 3 of “Agreement” provides that Licensee is to collect all sums payable during the Term (in addition to all uncollected monies earned prior to the date hereof) with respect to the exploitation of rights hereunder and shall pay them to Publisher. There is no exclusive provision that talks with specificity about the rights of parties post termination. Brief Summery/ Important Points: the Agreement my be extended in 6 month increments; written notice is required for any action; even if Licensee breaches / defaults, Licensee has an opportunity to cure before termination. On November 23, 2009 Lisa Thomas sent “Bonnie Raitt dab Kokomo Music & Open Secret Music Notice of Termination of Agreement” to Irini Ioannidou of Bonnier Music Publishing AB stating that, pursuant to the terms of Paragraph 6(c) of the Agreement, Bonnier materially breached the Agreement when Bonnier failed to timely pay for royalties due to Raitt. Furthermore, the letter states that the termination date is effective as of November 23, 2009 and that the

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