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Performance Track Leasing Agreement This Performance Track Leasing Agreement (this "Agreement") is between Daywind, Inc., a Tennessee corporation ("Daywind"), and the Artist set forth in Exhibit A below ("You" or “Artist”).
WHEREAS, Daywind owns all rights to its catalog of single-song audio performance track recordings ("Master(s)"); and WHEREAS, You desire to lease from Daywind a certain Master(s) in order that You may record your voice to them to create a second generation recording for public sale.
NOW, THEREFORE, in consideration of the mutual promises, covenants, warranties and representations contained herein, the parties agree as follows:
1. Daywind shall lease its Master(s) set forth in Exhibit A below, on a non-exclusive basis, to You for the purpose of You or your group recording your vocals or instrumental performance to the Master(s) for inclusion in a recording (the “Recording”).
2. You shall pay Daywind, in immediately available funds, for the one-time right to use the Master(s) in the Recording, the following fee: $175.00 per Master
3. You understand that this non-exclusive lease covers the sound recording Master(s) only and not the underlying musical composition. You represent and warrant that you will contact any and all copyright owners of the underlying musical composition(s), license the musical composition(s), and pay all royalties associated with that license(s). You agree to fully and completely indemnify and hold harmless Daywind and its employees, agents, affiliated companies, and other personnel for any and all damages which may result from Your failure to properly obtain and pay for any and all such licenses required by law. Daywind will provide You contact information for musical composition copyright owners upon request.
4. This lease is non-transferable.
5. This Agreement shall be governed by the laws of the State of Tennessee, and may not be modified or altered in any way other than by a dated writing signed by all parties. In the event of a breach of the Agreement by any party hereto resulting in the institution of legal proceedings by any party to enforce the Agreement, the prevailing party shall be entitled to collect its costs and expenses, including a reasonable attorney’s fee, from the non-prevailing party. All lease fees are non-refundable.
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