Common use of Permitted Security Interests Clause in Contracts

Permitted Security Interests. (a) amend the definition of “Permitted Security Interest” to include in addition to the existing “Permitted Security Interests”: (i) Security Interests (1) over the segregated trust accounts set up to fund productions, (2) required to be granted over productions to secure production grants granted by regional and/or national agencies promoting film production in the relevant regional and/or national jurisdiction and (3) over assets relating to specific productions funded by Production Facilities; and (ii) Security Interests arising solely by virtue of any statutory or common law provisions or customary business provisions relating to banker’s liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depositary institution. (b) delete paragraph (i) of the definition of “Permitted Security Interest” and replace it with the following: (i) over or affecting any asset of any company which becomes a member of the Borrower Group after the date of this Agreement, where such Security Interest is created prior to the date on which such company becomes a member of the Borrower Group (including Security Interests created, incurred or assumed in connection with or in contemplation of the relevant acquisition or transaction); provided, however that such Security Interests may not extend to any other property owned by any member of the Borrower Group (other than pursuant to after-acquired property clauses in effect with respect to such Security Interests at the time of acquisition on property of the type that would have been subject to such Security Interests notwithstanding the occurrence of the relevant acquisition or transaction);” (c) delete paragraph (m) of the definition of “Permitted Security Interests” and replace it with the following:

Permitted Security Interests. (a) amend the definition of “Permitted Security Interest” to include in addition to the existing “Permitted Security Interests”: (i) Security Interests (1) over the segregated trust accounts set up to fund productions, (2) required to be granted over productions to secure production grants granted by regional and/or national agencies promoting film production in the relevant regional and/or national jurisdiction and (3) over assets relating to specific productions funded by Production Facilities; and (ii) Security Interests arising solely by virtue of any statutory or common law provisions or customary business provisions relating to banker’s liens, rights of 60449431_12 set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depositary institution. (b) delete paragraph (ixi) of the definition of “Permitted Security InterestInterests” and replace it with the following: (ixi) over or affecting any asset of any company which becomes acquired by a member of the Borrower Bank Group after the date of this Agreement, where such Security Interest is created prior to the date on which such company becomes a member of the Borrower Group Agreement (including Security Interests created, incurred or assumed in connection with or in contemplation of the relevant acquisition or transaction); provided, however that such Security Interests may not extend to any other property owned by any member of the Borrower Bank Group (other than pursuant to after-acquired property clauses in effect with respect to such Security Interests at the time of acquisition on property of the type that would have been subject to such Security Interests notwithstanding the occurrence of the relevant acquisition or transaction);” (c) delete paragraph (m) of the definition of “Permitted Security Interests” and replace it with the following: