Common use of Production Guarantee Clause in Contracts

Production Guarantee. Notwithstanding Article 14.09 (a), the Producer shall not be required to post as security a cash bond, or letter of credit, but shall instead be entitled to provide the District Council with a Production Guarantee from an approved production guarantor in the form set out in Schedule 10, provided that the Production Guarantee is accompanied by a security agreement pursuant to Article 14.10 (b), or a Distribution Guarantee (see Schedule 12) or Distributor’s assumption agreement (see Schedule 13) from an approved distribution guarantor pursuant to Article 14.10 (c). The Producer shall give the District Council notice no less than 30 days prior to the start of principal photography of its intention to provide a Production Guarantee.

Production Guarantee. Notwithstanding Article article 14.09 (a), the Producer shall not be required to post as security a cash bond, or letter of credit, but shall instead be entitled to provide the District Council with a Production Guarantee from an approved production guarantor in the form set out in Schedule 10, provided that the Production Guarantee is accompanied by a security agreement Security Agreement pursuant to Article article 14.10 (b), or a Distribution Guarantee (see Schedule 12) or Distributor’s assumption agreement Assumption Agreement (see Schedule 13) from an approved distribution guarantor pursuant to Article article 14.10 (c). The Producer shall give the District Council notice no less later than 30 days prior to the start of principal photography of its intention to provide a Production Guarantee.