Variety radio directory (1940)

BMI STATION LICENSE— Continued which contains adversely affected stockholder-licensees, and, in the event that notice of objection to such proposal shall not, within thirty days, be given to MUSIC by stockholder-licensees to whom such notice was given, and whose annual license payments to MUSIC under the license agreements with stockholders in effect at the time of such proposal shall aggregate onethird or more of the annual license payments made by all stockholder-licensees in the same category, such proposal may be put into effect. IX. This agreement shall become effective as a license agreement upon the execution and delivery of a copy hereof by MUSIC. In consideration of MUSIC using its best efforts to obtain the signature of agreements similar to this by other broadcasters, and in consideration of the signature of agreements similar to this by other broadcasters, BROADCASTER agrees that this instrument shall constitute a continuing offer which cannot be revoked by BROADCASTER for twenty (20) days from the date of the receipt of this agreement by MUSIC. X. All notices required or permitted to be given hereunder shall be duly and properly given if mailed to the party to whom such notice is required or permitted to be given, by United States mail, postage prepaid, addressed to said party at its main office for the transaction of business. This agreement constitutes the entire under standing between the parties and shall be construed in accordance with the laws of the State of New York. BROADCAST MUSIC, INC. [The National Broadcasting Company and the Columbia Broadcasting System have declared their approval of the principle of clearance at the source when an economically and legally feasible method of so clearing can be devised which is not unduly burdensome to the said networks in comparison with their present method of operation and payment, and they have declared that at an appropriate time the said networks will make an earnest cooperative effort with the network affiliates to work out such a feasible plan of clearance at the source. The National Broadcasting Company and the Columbia Broadcasting System also have declared their willingness, at an appropriate time, to consider any proposals by their affiliates for a new method of distributing the cost of music, which is not unduly burdensome to the said networks in comparison with their present method of operation and payment, and that nothing in this license agreement shall be construed as working against an earnest cooperative effort by the various elements of the industry to such end, such effort to involve consideration not only of future payments of license fees to Broadcast Music, Inc., but .also of payments to other organizations.] BMI TRANSCRIPTION LICENSE AGREEMENT made 194. ., between BROADCAST MUSIC, INC., of 580 Fifth Avenue, New York City (herein called "BMI") and (herein called "Licensee"). 1. BMI hereby grants to Licensee, its distributors and affiliated companies, the non-exclusive right, privilege and authority to arrange and to use in the manufacture (in the Uuited States of America, its territories and possessions) of parts of instruments serving to reproduce mechanically musical works, the words or music or both of a certain musical work (herein referred to as "work") of which BMI is the copyright owner, entitled " ," written by identified by certificate of United States copyright registeration in Class E , in such instrumentation or form as will adapt the work for use upon records, such parts of instruments being limited to electrical transcriptions, which may be sold or marketed in any part of the world. 2. Licensee, in consideration of the license aforesaid, hereby agrees to pay therefor to BMI a royalty of two cents for each and every electrical transcription (or side thereof if the work is contained on more than one side), manufactured by it, serving to reproduce the said work, its words or music or both; in no event are double royalties to be paid by Licensee on electrical transcriptions shipped to any foreign country. Licensee hereby agrees to render to BMI quarterly statements of all of said electrical transcriptions manufactured by it as aforesaid in the following manner, to wit: On the 1st of February, for the quarter ending the 31st of the preceding December; on the 1st of May, for the quarter ending the 31st of the preceding March; on the 1st of August, for the quarter ending the 30th of the preceding June; and on the 1st of November, for the quarter ending the 30th of the preceding September. 242