1. The term 'Completion and Delivery of the Film' or 'Complete and Deliver the Film' as used in this Completion Guaranty shall have the following meaning:
a. The production of the Film in accordance with the Budget and the Production Schedule, and the Film as produced shall: (i) be based upon the Screenplay; (ii) qualify for an MPAA rating of not more than [ ]; (iii) be [ ] to [ ] minutes in length, including main and end titles; (iv) be shot in color [ ] black and white [ ] in 35 mm; (v) be of technical first class quality; and have the following elements, all of which are subject to the approval by the Guarantor:
b. the delivery to [ ] by the Delivery Date of the film and soundtrack materials specified in Exhibit 'A' attached hereto (the 'Delivery Materials').
2. The term 'Delivery Date' shall mean [ ], subject to postponements due to the occurrence of events of force majeure which extend the delivery date and any periods of notice, cure and arbitration as provided in Schedule III attached hereto.
3. The term 'Distribution Agreements' shall mean the following agreements:
4. The term 'Distributors' shall mean the following:
5. The term 'Production Bank Account' shall mean account
[ ] located at [ ], in the name of the Producer, where all advances by Financier shall be made unless otherwise agreed to in writing by Guarantor.
You hereby acknowledge that if you receive written notice from us that we are entitled to assume control of the production funds of the Film, you will provide your consent that the only authorized signatories on the Production Bank Account be a signatory or signatories designated by us.
In the event you exercise any rights of offset against the Production Bank Account, whether arising out of a security interest or otherwise, our obligations under paragraph 7(a) of the Principal Agreement of this Completion Guaranty shall not be modified or altered as a result thereof, and you shall still be responsible (as far as we are concerned) to advance the Strike Price (as hereinafter defined) in full.
6. The term 'Strike Price' shall mean the aggregate sum of U.S. [ ], including the Fee.
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