When a bank is involved in a film financing transaction, they will require an agreement from the laboratory that processes the film materials stating that the negatives and all of the materials in possession at the laboratory will be held to the order of the bank and will not be released to the producer without the bank's prior written approval. The bank will give the laboratory permission for any distributors or the sales agents to duplicate negatives to meet their specific print requirements or delivery requirements.
This Laboratory Pledgeholder's Agreement is made on [ ], 200[ ] Between:
4. Completion Guarantor of [ ] ('Guarantor')
Addressed to Bank
We refer to the proposed arrangement with the Producer and the Sales Agent, pursuant to which we have been engaged as the laboratory with respect to the Film (the 'Agreement'). Capitalized words and expressions used herein shall have the following meanings unless otherwise specified:
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