Distribution of Net Proceeds. 1. Distributions of Net Proceeds to the Parties shall be accounted for, and made, within 30 days of each 6 month cycle. Company will deliver to Artist, with each semi- annual distribution of Net Proceeds, a semi-annual accounting of the sales, the sales proceeds, and New Project Costs, related to the marketing, distribution, and sales, of the New Project during the previous period. 2. Each of the Parties shall be entitled to a semi-annual distribution, equal in amount to 50% of the Net Proceeds.
Appears in 2 contracts
Sources: Production and Distribution Agreement, Distribution Agreement