Terms: When I integrate Spotify into my app, does Spotify basically get all rights on it?

[marco-eckstein]

From Spotify Developer Terms of Service, III 4. License to Spotify:

For the duration of this Agreement, you grant to us a paid-up, royalty-free, non-exclusive, worldwide, transferable, sublicensable, irrevocable right and license, under all of your intellectual property rights, to:

a. Use, perform, make available, display to the public, reproduce, distribute, and import your SDA in order for us to provide, maintain, develop and market the Spotify Platform and the Spotify Service;

b. Use your name, likeness, or brand (which includes all of your trademarks, service marks, logos, brand names or trade names, your “Marks”) to the extent it is incorporated into your SDA and in connection with the provision, maintenance, development and promotion of the Spotify Platform and Spotify Service;

(...)

d. Sublicense the foregoing rights to our corporate affiliates or any third parties that are working with us as development partners, hosting facilities, and in similar capacities, in order to enable them to perform their services for us.

(...)

Here, SDA would refer to my application that integrates Spotify.

What does that mean in layman's terms? Particulary, does it mean I would be required to hand them over a copy of my application (including database and source code), so they can reproduce and distribute it if the want to?

Also posted at https://law.stackexchange.com/questions/57157/