Common use of STUDIOS Clause in Contracts

STUDIOS. (a) In the case of each Existing Revenue Sharing Agreement, no Obligor shall (and the Borrower shall ensure that no other Group Member will): (i) make or agree to make any amendment or variation of or supplement to any such Existing Revenue Sharing Agreement where such amendment, variation or supplement (as the case may be) would reasonably be expected to be materially adverse to the Group Members (taken as a whole) or to the interests of the Finance Parties under the Finance Documents; (ii) terminate, rescind, supersede or cancel or agree to terminate, rescind, supersede or cancel any Existing Revenue Sharing Agreement, where such termination, rescission, supersession or cancellation (as the case may be) would reasonably be expected to be materially adverse to the Group Members (taken as a whole) or to the interests of the Finance Parties under the Finance Documents; and (iii) assign, transfer, novate or otherwise dispose of any or all of its rights and/or obligations under any Revenue Sharing Agreement except to the extent that it is a Permitted Disposal. (b) In the case of each Future Revenue Sharing Agreement, each Obligor shall (and the Borrower shall ensure that each other Group Member will) ensure that: (i) any such Future Revenue Sharing Agreements entered into by a Group Member shall be on terms consistent with, or which are no worse than, prevailing market terms for such Group Member (provided that, in relation to any Future Revenue Sharing Agreement between a WFOE Group Member and a VIE Group Member, the terms of such Future Revenue Sharing Agreement shall be on terms consistent with, or which are no worse than, prevailing market terms or better for the WFOE Group Member); and (ii) no amendments, variations, supplements, termination, rescission, supersession or cancellation are made of or to such Future Revenue Sharing Agreements unless they would be permitted pursuant to paragraph (a) above in relation to an Existing Revenue Sharing Agreement. (a) The Borrower shall, on or before the Utilisation Date, open and thereafter maintain a DSRA with a Finance Party (or an Affiliate thereof), except to the extent that it has elected to credit the Offshore Mandatory Prepayment Account with the DSRA Minimum Balance on the Closing Date in accordance with paragraph (c) of Clause 23.47 (Accounts). (b) The Borrower shall ensure that, at all times with effect from the Utilisation Date (or, if applicable, the date on which the DSRA Minimum Balance has been transferred from the Offshore Mandatory Prepayment Account to the DSRA in accordance with paragraph (c) of Clause 23.47 (Accounts)) and for so long as the Loan is outstanding, the aggregate balance standing to the credit of all DSRAs at the relevant time is not less than the DSRA Minimum Balance at that time.