Security Agreement (Entertainment)

for Your State

This Security Agreement gives a secured party a continuing right in debtor's interests in a motion picture. It is imperative that this type of agreement be set out in writing. This Security Agreement is for use in California and available for immediate download.

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This California Security Agreement is used in conjunction with a Distribution Agreement. This agreement effectively gives the secured party a continuing right in debtor’s security interests in a motion picture. It effectively sets out the definition of the collateral (including intangibles, tangibles and proceeds) and the rights and remedies the secured party has under the California Commercial Code. It is imperative this type of Security Agreement be set out in writing and recorded with the appropriate entity if necessary.

This California Security Agreement (Entertainment) includes the following important provisions:
  • Parties: Sets out the names of the debtor and secured party;
  • Distribution Agreement: Sets out the date of distribution agreement and the title of the motion picture in which rights are given;
  • Collateral: Sets out tangibles, intangibles and proceeds used as collateral under the distribution agreement;
  • Rights and Remedies: Sets out specific rights under the California Commercial Code;
  • Warranties and Representations: The specifics of debtor’s warranties and representations;
  • Signatures: Both parties must sign this agreement;
  • Short Form Security Agreement: A short form Security Agreement is included with this form.

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This attorney-prepared packet contains:
  1. General Information
  2. California Security Agreement (Entertainment)
State Law Compliance: This form complies with the laws of California
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
SECURITY AGREEMENT
 
   This Security Agreement is made as of the_________________, by and between _________________  (“Debtor”) and _________________ (“Secured Party”) with reference to the following facts:
 
   A. Debtor and Secured Party have entered into a Distribution Agreement dated as of _________________, regarding among other things, the assignment by Secured Party to Debtor of certain exclusive rights of distribution and exploitation in the motion picture entitled “_________________” (the “Picture”) in designated media and non-exclusive incidental rights necessary to exploit the Picture (collectively such rights are referred to hereinafter as the “Rights”), all as more fully set forth in the Distribution Agreement.
 
   B. The parties desire to secure the right of Secured Party to the Rights upon the terms and conditions of this Security Agreement.
 
NOW THEREFORE, the parties agree as follows:
 
1. COLLATERAL: The “Collateral” is any and all of the following:
 
   a. Intangibles: All of the Debtors right, title and interest in and to the Rights in the Picture as more fully set forth in the Distribution Agreement dated as of _________________.
 
   b. Tangibles: All of the Debtors right, title and interest in and to all film elements, videotapes, sound elements, paperwork, and other physical materials of any kind (“Materials”) to be used in the exploitation of the Rights in the Picture, and
 
   c. Proceeds: All proceeds, realized by Debtor from exploitation of the Rights or the Materials in the Picture, to which secured Party is entitled under the provisions of the Distribution Agreement.
 
2. SECURITY INTEREST: In order to induce Secured Party to enter into the Distribution Agreement and to secure Secured Partys right to receive the Producers Share of Net Proceeds as defined in the Distribution Agreement, Debtor grants and assigns to Secured Party a continuing security interest in the Collateral.
 
3. RESORT TO SECURITY INTEREST: Secured Party may resort to its Security Interest in the Collateral if, as provided in the Distribution Agreement Debtor fails to pay Secured Party proceeds in the form of Producers share of Gross Receipts received by Debtor, if any, from the exploitation of the Picture to which Secured Party is entitled.
 
4. RIGHTS AND REMEDIES OF SECURED PARTY: Secured Party and its assignees will have all the rights and remedies of a secured party under the California Commercial Code as it may be amended from time to time and under applicable law.
 
5. DEBTORS WARRANTIES AND REPRESENTATIONS: Debtor warrants and represents to Secured Party that:
      
   a. Debtor has the right and authority to execute and deliver this Security Agreement;
 
   b. No other security interest has been granted by Debtor in the Collateral which might interfere with or have priority over the Security Interest granted in this Agreement;
 
   c. There are no other agreements or understandings of Debtor which interfere with the rights granted to Secured Party in this Security Agreement or the Distribution Agreement.
 
6. NOTICES: All notices under this Agreement will be in writing and delivered by regular mail to the following addresses:
 
   TO SECURED PARTY:   _________________
                     _________________
                     _________________
      
   A COURTESY COPY TO:   _________________
                         _________________
                        _________________
 
   TO DEBTOR:         _________________
                     _________________
                     _________________   
 
Each party may change its place for notice by written notice duly given in accordance with the Distribution Agreement.
 
7. FURTHER ASSURANCES: Each party upon the reasonable request of the other, will execute such other documents as are required to perfect or release the Security Interest, including the attached UCC-1 Financing Statement and Short-Form Security Agreement.
 
8. GOVERNING LAW: This Security Agreement will be governed by the laws of the State of _________________.
 
IN WITNESS WHEREOF, the parties have executed this Security Agreement as of the date first written Above in _________________, _________________.
 
 
SECURED PARTY               DEBTOR
_________________            _________________
 
_______________            ________________         
 
SHORT-FORM SECURITY AGREEMENT
 
   For valuable consideration, receipt of which is acknowledged, _________________ (“Debtor”) grants and assigns to _________________ (“Secured Party”) a continuing Security Interest in and to the “Collateral” described in the following paragraph with regard to the motion picture currently entitled “_________________” upon the terms and conditions to that certain Security Agreement between the parties dated as of the same date as this Short-Form Security Agreement.
 
The “Collateral” is any and all of the following:
 
   a. Intangibles: All of Debtors right, title, and interest in and to the Rights in the Picture as more fully set forth in the Distribution Agreement dated as of _________________.
 
   b.  Tangibles: All of Debtors right, title, and interest in and to all film elements, videotapes, sound elements, paperwork, and other physical materials of any kind (“Materials”) to be used in the exploitation of the Rights in the Picture, and
 
   c.  Proceeds: All proceeds realized by Debtor from exploitation of the Rights or the Materials in the Picture, to which Secured Party is entitled under the provisions of the Distribution Agreement.
 
   IN WITNESS WHEREOF, the parties have executed this Short-Form Security Agreement as of _________________, at _________________, _________________.
 
 
____________________________________________
 
 
____________________________________________
 
 
 
Number of Pages4
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28014
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