Distribution of Gross Receipts

3.1 FCAM shall commence distribution of Collected Gross Receipts from the Collection Account from the later of the Delivery Date or the last date of the month during which Gross Receipts are first credited to the Collection Account and then monthly thereafter for the first year, quarterly for the following two years and annually thereafter.

3.2 FCAM shall not be obliged to remit Entitlements to any Beneficiary unless such Beneficiary is entitled to be paid not less than USD 500.00.

3.3 FCAM shall not be obliged to pay on behalf of the Producer or any other Party any withholding tax, income tax, corporation tax, value added tax or other sales tax or any similar payments when distributing Collected Gross Receipts unless agreed in writing between the relevant parties or unless FCAM is required so to do by law.

3.4 Residuals shall only be payable by FCAM upon written notification being received by FCAM from the Producer and/or the Distributor.

3.5 FCAM shall not be obliged to make any payment out of Collected Gross Receipts if the making of such payment would constitute a breach of any court order or would otherwise be unlawful.

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