Common use of Concept Approval Clause in Contracts

Concept Approval. As a condition precedent to Universal's obligation to accept delivery of a Picture hereunder, ▇▇▇▇▇▇ agrees to obtain Universal's approval of the concept of each theatrical motion picture project ("Project") Beacon contemplates producing during the Term ("Concept Approval"). To obtain Concept Approval, at such time as Beacon chooses in its sole discretion, ▇▇▇▇▇▇ agrees to submit to the Motion Picture Group Chairman (presently ▇▇▇▇▇ ▇▇▇▇▇▇) or his designee, the concept of the Project, plus any additional material information about the project then known. Universal agrees to approve or disapprove the Project based on the information provided within * . If Universal disapproves, Beacon will have the right to offer the Project to another distributor. If the concept as presented to Universal materially changes, Beacon will resubmit the Project to Universal for Concept Approval.

Concept Approval. As a condition precedent to Universal's obligation to accept delivery of a Picture hereunder, ▇▇▇▇▇▇ Beacon agrees to obtain Universal's approval of the concept of each theatrical motion picture project ("Project") Beacon contemplates producing during the Term ("Concept Approval"). To obtain Concept Approval, at such time as Beacon chooses in its sole discretion, ▇▇▇▇▇▇ Beacon agrees to submit to the Motion Picture Group Chairman (presently ▇▇▇▇▇ ▇▇▇▇▇▇) or his designee, the concept of the Project, plus any additional material information about the project then known. Universal agrees to approve or disapprove the Project based on the information provided within * . If Universal disapproves, Beacon will have the right to offer the Project to another distributor. If the concept as presented to Universal materially changes, Beacon will resubmit the Project to Universal for Concept Approval.