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EXHIBIT 10.59
SUPPLEMENT NO. 1 TO THE COPYRIGHT SECURITY
AGREEMENT DATED AS OF NOVEMBER 4, 1997
WHEREAS, Dove Four Point, Inc., a Florida corporation (the "Grantor")
is party to that certain Credit, Security, Guaranty and Pledge Agreement, dated
as of November 4, 1997, (as the same may be amended, modified or otherwise
supplemented from time to time, the "Credit Agreement"), among Dove
Entertainment, Inc. (the "Borrower"), the Corporate Guarantors named therein
(the "Guarantors") and The Chase Manhattan Bank, as Lender (the "Lender");
WHEREAS, pursuant to the terms of the Credit Agreement, the Grantor
has granted to the Lender a security interest in all right, title and interest
of the Grantor in and to all personal property, whether now owned, presently
existing or hereafter acquired or created, including, without limitation, all
right, title and interest of the Grantor in, to and under any item of Product
(such term being used herein as defined in the Copyright Security Agreement
referred to below) and any copyright or copyright license, whether now existing
or hereafter arising, acquired or created, and all proceeds thereof or income
therefrom, to secure the payment and performance of the Obligations (such term
being used herein as defined in the Credit Agreement) pursuant to the Credit
Agreement;
WHEREAS, the Grantor is a party to a Copyright Security Agreement,
dated as of November 4, 1997 (as the same has been, or may hereafter be, amended
or supplemented from time to time, the "Copyright Security Agreement"), pursuant
to which the Grantor has granted to the Lender, as security for the Obligations,
a continuing security interest in all of the Grantor's right, title and interest
in and to each and every item of Product, the scenario, screenplay or script
upon which an item of Product is based, all of the properties thereof, tangible
and intangible, and all domestic and foreign copyrights and all other rights
therein and thereto, of every kind and character, whether now in existence or
hereafter to be made or produced, and whether or not in possession of the
Grantor, all as more fully set forth in the Copyright Security Agreement;
WHEREAS, the Grantor has acquired or created additional items of
Product since the date of execution of the Copyright Security Agreement and the
most recent Supplement thereto and holds certain additional copyrights and
rights under copyright with respect to items of Product;
WHEREAS, Schedule 1 to the Copyright Security Agreement does not
reflect (i) item(s) of Product acquired or created by the Grantor since the date
of execution of the Copyright Security Agreement and the most recent Supplement
thereto or (ii) all the copyrights and rights under copyright held by the
Grantor;
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THEREFORE,
A. The Grantor does hereby grant to the Lender, as security, a
continuing security interest in and to all of the Grantor's right, title
and interest in and to each and every item of Product being added to
Schedule 1 to the Copyright Security Agreement pursuant to paragraph (b)
below, the scenario, screenplay or script upon which such item of Product
is based, all of the properties thereof, tangible and intangible, and all
domestic and foreign copyrights and all other rights therein and thereto,
of every kind and character, whether now in existence or hereafter to be
made or produced, and whether or not in possession of the Grantor, all as
contemplated by, and as more fully set forth in, the Copyright Security
Agreement.
B. Schedule 1 to the Copyright Security Agreement is hereby
supplemented, effective as of the date hereof, so as to reflect all of the
copyrights and rights under copyright with respect to the item(s) of
Product in and to which the Grantor has granted a continuing security
interest to the Lender pursuant to the terms of the Copyright Security
Agreement and the Credit Agreement. The following item(s) of Product and
copyright information are hereby added to Schedule 1 to the Copyright
Security Agreement:
Date of
Title Registration No. Registration
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"Futuresport" (screenplay) Pending Submitted 2/12/98
Except as expressly supplemented hereby, the Copyright Security
Agreement shall continue in full force and effect in accordance with the
provisions thereof on the date hereof. As used in the Copyright Security
Agreement, the terms "Agreement", "this Agreement", "this Copyright Security
Agreement", "herein", "hereafter", "hereto", "hereof" and words of similar
import, shall, unless the context otherwise requires, mean the Copyright
Security Agreement as supplemented by this Supplement.
Except as expressly supplemented hereby, the Copyright Security
Agreement, all documents contemplated thereby and any previously executed
Supplements thereto, are each hereby confirmed and ratified by the Grantor.
The execution and filing of this Supplement, and the addition of the
item(s) of Product set forth herein to Schedule 1 to the Copyright Security
Agreement are not intended by the parties to derogate from, or extinguish, any
of the Lender's rights or remedies under (i) the Copyright Security Agreement
and/or any agreement, amendment or supplement thereto or any other instrument
executed by the Grantor and heretofore recorded or submitted for recording in
the U.S. Copyright Office or (ii) any financing statement, continuation
statement, deed or charge
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or other instrument executed by the Grantor and heretofore filed in any state or
country in the United States of America or elsewhere.
IN WITNESS WHEREOF, the Grantor has caused this Supplement No. 1 to
the Copyright Security Agreement to be duly executed by its duly authorized
officer as of February 20, 1998
DOVE FOUR POINT, INC.
By: /s/ XXXX XXXXXX
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Name: Xxxx Xxxxxx
Title: Chief Financial Officer
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STATE OF CALIFORNIA )
: ss.:
COUNTY OF LOS ANGELES )
On this the 20th day of February, 1998, before me, Xxxxxxxx Xxxx, the
undersigned Notary Public, personally appeared Xxxx Xxxxxx,
[X] personally known to me,
[ ] proved to me on the basis of satisfactory evidence, to be the Vice
President of the corporation known as Dove Four Point, Inc. who executed the
foregoing instrument on behalf of the corporation, and acknowledged that such
corporation executed it pursuant to a resolution of its Board of Directors.
WITNESS my hand and official seal.
/s/ XXXXXXXX XXXX
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Notary Public
