The Releasor hereby grants the Recipient and/or its agent the irrevocable right and permission to copyright, use, publish, alter, modify the video obtained pursuant to this Release for any lawful purpose, including without limitation to advertising, exhibition, illustration, promotion, publicity, and trade.
In this regard, it is agreed that this release is for compensation; and the Releasor agrees to a split of royalties and ownership rights or other compensation arising or related to the use of the video.
The Releasor represents and warrants that (i) no third party has been granted any license with respect to the video to be released, and (ii) authorization or consent is not needed as to the permissions to the Released Party after the eforcement of this Release Agreement.
The Releasor waives any right that the Recipient may have to inspect or approve the Recipient Party’s use of the video, or any creation of advertising or printed matter that may be used in connection with the use and/or publication of the Video.
The Releasor releases the Recipient from any claim of any possible defamatory offense, invasion of privacy, infringement of copyright or right of publicity, or any other claim related to the Video (collectively, “Claims”), including any Claims related digital alterations, use in composite form, whether local or otherwise, or use of a fictitious name, that may occur.
By signing this agreement, the Releasor warrants that the latter has read and understood this agreement as to the video release.