A. The Bank has agreed to make available to the Borrower a loan facility of up to [amount] (the 'Facility') in accordance with a facility letter dated on or about the date of this Charge (the 'Facility Letter') for the production and completion of the Film (as defined in Clause 1.1);

B. The Borrower has agreed to execute this Charge as security for the repayment of the Facility together with interest thereon and all other sums from time to time owing to the Bank from the Borrower.

This clause sets the background and explains the purpose of the Charge. As mentioned earlier in connection with the loan facility, the Borrower is giving the assets covered by the Charge as security for repayment of the monies owed to the Bank under the Facility Letter. The Charge apportions certain of the Borrower's assets so that the Bank has recourse to those assets in the event that the Borrower fails to repay the Facility.

Was this article helpful?

0 0
Film Making

Film Making

If you have ever wanted the secrets to making your own film, here it is: Indy Film Insider Tips And Basics To Film Making. Have you ever wanted to make your own film? Is there a story you want to tell? You might even think that this is impossible. Studios make films, not the little guy. This is probably what you tell yourself. Do you watch films with more than a casual eye? You probably want to know how they were able to get perfect lighting in your favorite scene, or how to write a professional screenplay.

Get My Free Ebook

Post a comment