The whole phrase

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Note added at 6 mins (2017-08-21 13:25:46 GMT)
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A sample lease agreement:

WHEREAS, PHS is the owner and proprietor of various single-song audio master recordings ("Masters");
and
WHEREAS, You desire to lease from PHS certain of said Masters as indicated herein below in order that You may derive therefrom second-generation sound recordings for retail sale by You
to the public;
NOW, THEREFORE, in consideration of the mutual promises, covenants, warranties and representations contained herein, it is agreed as follows;