and the service made available to
the public with respect to relative creative contribution, technological
contribution, capital investment, cost, and risk.

In establishing such rates and terms, the copyright arbitration royalty
panel may consider the rates and terms under voluntary license
agreements negotiated as provided in paragraphs (2) and (3). The
Librarian of Congress shall also establish requirements by which
copyright owners may receive reasonable notice of the use of their sound
recordings under this section, and under which records of such use shall
be kept and made available by transmitting organizations entitled to
obtain a statutory license under this subsection.

(5) License agreements voluntarily negotiated at any time between 1 or
more copyright owners of sound recordings and 1 or more transmitting
organizations entitled to obtain a statutory license under this
subsection shall be given effect in lieu of any determination by a
copyright arbitration royalty panel or decision by the Librarian of
Congress.

(6) Publication of a notice of the initiation of voluntary negotiation
proceedings as specified in paragraph (3) shall be repeated, in
accordance with regulations that the Librarian of Congress shall
prescribe, in the first week of January 2000, and at 2-year intervals
thereafter, except to the extent that different years for the repeating
of such proceedings may be determined in accordance with paragraph (3).
The procedures specified in paragraph (4) shall be repeated, in
accordance with regulations that the Librarian of Congress shall
prescribe, upon filing of a petition in accordance with section 803(a)
(1), during a 60-day period commencing on July 1, 2000, and at 2-year
intervals thereafter, except to the extent that different years for the
repeating of such proceedings may be determined in accordance with
paragraph (3). The procedures specified in paragraph (4) shall be
concluded in accordance with section 802.

(7)(A) Any person who wishes to make a phonorecord of a sound recording
under a statutory license in accordance with this subsection may do so
without infringing the exclusive right of the copyright owner of the
sound recording under section 106(1)

(i) by complying with such notice requirements as the Librarian of
Congress shall prescribe by regulation and by paying royalty fees in
accordance with this subsection; or

(ii) if such royalty fees have not been set, by agreeing to pa