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EXHIBIT 10.50
COPYRIGHT SECURITY AGREEMENT
WHEREAS, Dove Four Point, Inc. a California corporation ("Grantor") owns
the Copyright registrations and Copyright applications listed on Schedule 1
annexed hereto, and
WHEREAS, Grantor, an affiliate of Grantor and Media Equities
International, LLC, a New York limited liability company ("Lender") are parties
to a Loan Agreement dated September 26th, 1997 (as the same may be amended and
in effect from time to time, the "Loan Agreement"), providing for extensions of
credit to be made to Grantor by Lender; and
WHEREAS, pursuant to the terms of the Security Agreement dated as of
September 26th, 1997 (as said Agreement may be amended and in effect from time
to time, the "Security Agreement"), between Grantor, an affiliate of Grantor and
Lender, Grantor has granted to Lender a security interest in substantially all
the assets of Grantor including all right, title and interest of Grantor, in to
and under all now owned and hereafter acquired Copyrights (as defined in the
Security Agreement), copyright registrations, Copyright applications and
Copyright Licenses (as defined in the Security Agreement), together with the
goodwill of the business symbolized by Grantor's Copyrights and all proceeds
thereof, to secure the payment of all amounts owing by Grantor under the Loan
Agreement;
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Grantor does hereby grant to
lender a continuing security interest in all of Grantor's right, title and
interest in, to and under the following (all of the following items or types of
property being herein collectively referred to as the "Copyright Collateral"),
whether presently existing or hereafter created or acquired:
(1) each Copyright, Copyright application and Copyright registration,
together with any reissues, extensions or renewals thereof, including,
without limitation, the Copyright, Copyright registrations and Copyright
applications referred to in Schedule 1 annexed hereto, and all of the
goodwill of the business connected with the use of, and symbolized by,
each Copyright, Copyright registration and Copyright application;
(2) each Copyright License and all of the goodwill of the business
connected with the use of, and symbolized by, each Copyright License;
and
(3) all products and proceeds of the foregoing, including, without
imitation, any claim by Grantor against third parties for past, present
or future (a) infringement or dilution of any Copyright or Copyright
registration including, without limitation, the Copyright and Copyright
registrations referred to in Schedule 1 annexed hereto, the Copyright
registrations
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issued with respect to the Copyright applications referred to in
Schedule 1 and the Copyright licensed under the Copyright License, or
(b) injury to the goodwill associated with any Copyright, Copyright
registration or Copyright licensed under any Copyright License.
This security interest is granted in conjunction with the security interests
granted to Lender pursuant to the Security Agreement. Grantor hereby
acknowledges and affirms that the rights and remedies of Grantee with respect to
the security interest in the Copyright Collateral made and granted hereby are
more fully set forth in the Security Agreement, the terms and provisions of
which are incorporated by reference herein as if fully set forth herein.
IN WITNESS WHEREOF, Grantor has caused this Copyright Security Agreement
to be duly executed by its duly authorized officer as of the 26th day of
September, 1997.
DOVE FOUR POINT, INC.
By: /s/ XXXX XXXXXX
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Title: /s/ Chief Financial Officer
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ACKNOWLEDGMENT
STATE OF )
) ss.
COUNTY OF )
On the 26th day of September, 1997 before me personally appeared Xxxx
Xxxxxx, to me personally known or proved to me on the basis of satisfactory
evidence to be the person described in and who executed the foregoing instrument
as CFO of Dove Entertainment, Inc. who being by me duly sworn, did depose and
say that he is CFO of Dove Entertainment, Inc. the corporation described in and
which executed the foregoing instrument; that the said instrument was duly
signed on behalf of said corporation; and that he acknowledged said instrument
to be the free act and deed of said corporation.
/s/ XXXXXXXX XXX
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{Seal}
My commission expires:
JANUARY 20, 2001
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DOVE FOUR POINT, INC.
SCHEDULE 1 TO COPYRIGHT
SECURITY AGREEMENT
Copyright Registrations
Saved By The Light/Motion Picture Teleplay PA
Saved By The Light/Motion Picture Telefilm PA
Unwed Father/Motion Picture Teleplay (Pending) PA
Unwed Father/Motion Picture Telefilm (Pending) PA
Copyright Licenses
None
