Common use of REVENUE SPLIT Clause in Contracts

REVENUE SPLIT. 3.1. In full consideration of the Parties’ performance under this Agreement and for all of the rights granted by Sleek hereunder, TVG agrees to pay Sleek a percentage of the Net Profits, (the “Royalty”) as set forth in Section 6 below at the address provided in Section 13. Sleek and TVG acknowledge that the name, voice, image and likeness (including retail packaging rights) and Talent Fees due G-Unit shall be a deduction in determining the Net Profits as provided in Section 6 below (the “G-Unit Royalty”). 3.2. From and after the first airing of the Shows, TVG may withhold ten (10%) percent of all Royalties payable under this agreement, which would otherwise be due to Sleek and/or G-Unit over such period as to resolve for returns and charge backs. Such amount will be adjusted quarterly to reflect the actual amount subject to returns and chargeback experienced during the prior quarter. 3.3. Nothing contained herein shall be deemed to give Sleek or G-Unit the right to participate (through royalties, sharing fees, distribution fees or otherwise) in the proceeds of sales by TVG of any item other than the Product. 3.4. During each year of the Term, TVG shall make a donation of $5,000 for each 100,000 Product Units sold during the previous calendar year (or partial calendar year, as the case may be), to the G-Unity Foundation or another charity(ies) designated by G-Unit; provided, however, that the initial donation on January 1, 2012 shall be based on sales of Product from the date hereof through December 31, 2011. For purposes of such contribution, sales of Products shall be deemed made as provided under Paragraph___. This payment shall not be a deduction made prior to the determination of Net Profits.