Question: Consider the Co-Branding and Endorsement Licensing Agreement between MusclePharm Corporation, Arnold Schwarzenegger, Marine MP, LLC, and Fitness Publications, Inc.; Is there a minimum commitment required under this contract?
Relevant contract clauses:
[{"span": [16019, 16313], "answer": "Endorser shall also supply MusclePharm with at least fifty (50) signed items for each Contract Year, on the Licensed Products or on other items to be mutually agreed upon by the parties hereto, to be used by MusclePharm in connection with the promotion of the Products and/or Licensed Products.", "file_path": "cuad/MusclepharmCorp_20170208_10-KA_EX-10.38_9893581_EX-10.38_Co-Branding Agreement.txt"}, {"span": [26987, 27235], "answer": "Notwithstanding the foregoing, Lender shall be entitled to receive a guaranteed minimum royalty for each Contract Year including the Additional Term, if any (the \"Guaranteed Minimum Royalty\"), payable in accordance with Exhibit \"C\" attached hereto.", "file_path": "cuad/MusclepharmCorp_20170208_10-KA_EX-10.38_9893581_EX-10.38_Co-Branding Agreement.txt"}, {"span": [84373, 84825], "answer": "Guaranteed Minimum Royalty during the initial Term:   Contract Year   Minimum Royalty   Timing of Payment One   $1,500,000   $500,000 payment due on the following dates: July 23, 2013; October 1, 2013; February 1, 2014 Two   $2,000,000   $666,666.66 payment due on the following dates: July 23, 2014; October 1, 2014; February 1, 2015 Three   $2,500,000   $833,333.33 payment due on the following dates: July 23, 2015; October 1, 2015; February 1, 2016", "file_path": "cuad/MusclepharmCorp_20170208_10-KA_EX-10.38_9893581_EX-10.38_Co-Branding Agreement.txt"}, {"span": [84895, 85537], "answer": "Guaranteed Minimum Royalty during the First Additional Term:   In the event that the Renewal Threshold is achieved in the Third Contract Year, during the First Additional Term the Minimum Royalty and Timing of Payment shall be as follows:   Contract Year   Minimum Royalty   Timing of Payment Four   $2,500,000   $833,333.33 payment due on the following dates: July 23, 2016; October 1, 2016; February 1, 2017 Five   $2,500,000   $833,333.33 payment due on the following dates: July 23, 2017; October 1, 2017; February 1, 2018 Six   $2,500,000   $833,333.33 payment due on the following dates: July 23, 2018; October 1, 2018; February 1, 2019", "file_path": "cuad/MusclepharmCorp_20170208_10-KA_EX-10.38_9893581_EX-10.38_Co-Branding Agreement.txt"}, {"span": [85607, 86267], "answer": "Guaranteed Minimum Royalty during the Second Additional Term:   In the event that the Second Renewal Threshold is achieved in the Sixth Contract Year, during the Second Additional Term the Minimum Royalty and Timing of Payment shall be as follows:   Contract Year   Minimum Royalty   Timing of Payment Seven   $5,000,000   $1,666,666.66 payment due on the following dates: July 23, 2019; October 1, 2019; February 1, 2020 Eight   $5,000,000   $1,666,666.66 payment due on the following dates: July 23, 2020; October 1, 2020; February 1, 2021 Nine   $5,000,000   $1,666,666.66 payment due on the following dates: July 23, 2021; October 1, 2021; February 1, 2022", "file_path": "cuad/MusclepharmCorp_20170208_10-KA_EX-10.38_9893581_EX-10.38_Co-Branding Agreement.txt"}]