Common use of Cash Bond Clause in Contracts

Cash Bond. In the case of a cash bond: i. the Producer will post the bond not earlier than fifteen (15) business days and no later than five (5) business days prior to the commencement of work by the Guild Members; ii. The District Council shall be entitled, upon written notice to the Producer and upon resolution of any dispute in favour of the Guild Member or the District Council, to make payment from the cash bond to the extent of any amounts found due. The notice shall stipulate the amount claimed and that such amount is due to the District Council as a result of a default by the Producer of its payment obligations as specified in the Agreement; iii. The District Council will repay the cash bond less any amounts in dispute within thirty (30) days after the completion of principal photography, provided that the Producer has provided the District Council with a security agreement in accordance with Article 14.10(b), or a distribution guarantee or distributor’s assumption agreement from an approved distribution guarantor pursuant to Article 14.10(c), and will repay the balance, if any, within five (5) days of the resolution of a dispute in the Producer’s favour. Notwithstanding Article 14.09 (b)(iii), the District Council shall be entitled to retain an amount to cover two (2) weeks Gross Remuneration of all remaining Guild Members plus fringes from the cash bond following the completion of principal photography. The retained amount shall be released thirty (30) days following the completion of post production.

Cash Bond. In the case of a cash bond: i. the Producer will post the bond not earlier than fifteen (15) business days and no later than five (5) business days prior to the commencement of work by the Guild Members; ii. The District Council shall be entitled, upon written notice to the Producer and upon resolution of any dispute in favour of the Guild Member or the District Council, to make payment from the cash bond to the extent of any amounts found due. The notice shall stipulate the amount claimed and that such amount is due to the District Council as a result of a default by the Producer of its payment obligations as specified in the Agreement; iii. The District Council will repay the cash bond less any amounts in dispute within thirty (30) days after the completion of principal photography, provided that the Producer has provided the District Council with a security agreement in accordance with Article 14.10(b14.10 (b), or a distribution guarantee or distributor’s assumption agreement from an approved distribution guarantor pursuant to Article 14.10(c14.10 (c), and will repay the balance, if any, within five (5) days of the resolution of a dispute in the Producer’s favour. iv. Notwithstanding Article 14.09 (b)(iii), the District Council shall be entitled to retain an amount to cover two (2) weeks Gross Remuneration of all remaining Guild Members plus fringes from the cash bond following the completion of principal photography. The retained amount shall be released thirty (30) days following the completion of post production.thirty

Cash Bond. In the case of a cash bond: i. the Producer will post the bond not earlier than fifteen ifteen (15) business days and no later than five ive (5) business days prior to the commencement of work by the Guild Members; ii. The District Council shall be entitled, upon written notice to the Producer and upon resolution of any dispute in favour of the Guild Member or the District Council, to make payment from the cash bond to the extent of any amounts found due. The notice shall stipulate the amount claimed and that such amount is due to the District Council as a result of a default by the Producer of its payment obligations as specified speciied in the Agreement; iii. The District Council will repay the cash bond less any amounts in dispute within thirty (30) days after the completion of principal photography, provided that the Producer has provided the District Council with a security agreement in accordance with Article 14.10(b14.10 (b), or a distribution guarantee or distributor’s assumption agreement from an approved distribution guarantor pursuant to Article 14.10(c14.10 (c), and will repay the balance, if any, within five ive (5) days of the resolution of a dispute in the Producer’s favour. iv. Notwithstanding Article 14.09 (b)(iii), the District Council shall be entitled to retain an amount to cover two (2) weeks Gross Remuneration of all remaining Guild Members plus fringes from the cash bond following the completion of principal photography. The retained amount shall be released thirty (30) days following the completion of post production.thirty