This AGREEMENT (hereinafter referred to as the "Agreement") is made effective this _____ day of _______________, 200__ by and between ____________________, located at ________________________________________ (hereinafter referred to as the "Label") and ____________________, located at ________________________________________ (hereinafter referred to as the "Distributor"). Distributor is an Internet record company, which offers sound recordings for download by consumers over the Internet. Label owns or has the rights to distribute over the internet the master sound recordings referred to in the Addendum attached and any additional Addenda added by agreement of the parties from time to time (hereinafter referred to as "Licensed Recordings").
In consideration of the respective covenants contained herein, the parties hereto, intending to legally bound hereby, agree as follows:
1. Grant of License.
1.1. Licensed Recordings. Label hereby grants to Distributor an exclusive right and license during the Term of Grant throughout the Territory to...