Budgeted Negative Cost means, with respect to any item of Product, the amount of the cash budget (stated in U.S. Dollars) for such item of Product including all costs customarily included in connection with the acquisition of all underlying literary, musical and other rights with respect to such item of Product and in connection with the preparation, production and completion of such item of Product including costs of materials, equipment, physical properties, personnel and services utilized in connection with such item of Product, both "above-the-line" and "below-the-line", any Completion Guaranty fee, and all other items customarily included in negative costs, including finance charges and interest expense, but excluding production fees and overhead charges payable to a Credit Party, except to the extent such payments to a Credit Party are reimbursements for production or development costs advanced by a Credit Party to a Person that is not a Credit Party.
Budgeted Negative Cost means for any Item of Product, the aggregate amount of the pre-production expenses with regard to such Item of Product plus the cost of all production elements usually and customarily included as part of the negative cost of an Item of Product of like cost and quality plus the usual and customary post production costs of such Item of Product, and shall specifically include charges for any completion guaranty fee which is to be paid.
Budgeted Negative Cost means, with respect to any item of Product, the amount of the cash budget for such item of Product including all costs customarily included in connection with the acquisition of all underlying literary and musical rights with respect to such item of Product and in connection with the preparation, production and completion of such item of Product including costs of materials, equipment, physical properties, personnel and services utilized in connection with such item of Product, both "above-the-line" and "below-the-line", any completion guaranty fee, and all other items customarily included in negative costs, but excluding contingency of up to 10%, production fees and overhead charges payable to the Company or its Subsidiaries, finance charges and interest expense.
Examples of Budgeted Negative Cost in a sentence
If reasonably requested by the Administrative Agent, deliver to the Administrative Agent, within ninety (90) days after each miniseries constituting an Item of Product with a Budgeted Negative Cost of more than $17,000,000 produced by a Credit Party is Completed, a tentative negative cost statement, and/or within one hundred twenty 120 days after each such Item of Product is Completed, a final negative cost statement.
Make or incur on a consolidated basis any obligation to make Capital Expenditures (other than amounts included in the Budgeted Negative Cost of an item of Product) for any fiscal year in excess of $250,000.
Create, incur or assume any commitment to make, any direct or indirect payment, whether as rent or otherwise, under any lease, rental or other arrangement for the use of real and/or personal property (excluding Capital Leases and amounts properly included in the Budgeted Negative Cost of an item of Product) if immediately thereafter the aggregate of all such payments that shall be payable by a Credit Party and any of their Subsidiaries during any twelve consecutive months would exceed US$5,000,000.
Permit the Budgeted Negative Cost for any item of Product comprising a theatrical motion picture to exceed $3,500,000 or the Budgeted Negative Cost for any television Product to exceed $5,000,000.
Incur any obligation in connection with any item of Product produced by a Credit Party with a Budgeted Negative Cost in excess of $5,000,000, execute a Negative Pickup obligating the Borrower to pay a minimum guarantee of more than $5,000,000 for any item of Product, incur acquisition costs of more than $5,000,000 for any item of Product, except that in any fiscal year up to two items of Product may be up to $7,000,000 per item of Product.
More Definitions of Budgeted Negative Cost
Budgeted Negative Cost means, with respect to any item of Product, the amount of the cash budget (stated in Dollars) for such item of Product including all costs customarily included in connection with the acquisition of all underlying literary and musical rights with respect to such item of Product and in connection with the preparation, production and completion of such item of Product, including costs of materials, equipment, physical properties, personnel and services utilized in connection with such item of Product, both "above-the-line" and "below-the-line", any Completion Guarantee fee, and all other items customarily included in negative costs, including finance charges and interest expense, but excluding production fees and overhead charges payable to a Credit Party.
Budgeted Negative Cost means, with respect to any item of Product, the amount of the cash budget (stated in U.S. Dollars) for such item of Product including all costs customarily included in connection with the acquisition of all underlying literary, musical and other rights with respect to such item of Product and in connection with the preparation, production and completion of such item of Product including costs of materials, equipment, physical properties, personnel and services utilized in connection with such item of Product, both "above-the-line" and "below-the-line", any completion bond fee, and a contingency amount, and all other items customarily included in negative costs, including finance charges and interest expense, but excluding production fees and overhead charges payable to the Borrower or any Guarantor.
Budgeted Negative Cost means, for any Item of Product, the aggregate amount of the development and pre-production expenses of such Item of Product plus the cost of all production elements usually and customarily included as part of the negative cost of an Item of Product of like cost and quality plus the usual and customary post-production costs of such Item of Product and all other delivery items, and shall specifically include charges for any completion guaranty fee which is to be paid (or, in the case of passive co-financings, including Revenue Participations, and Items of Product that are acquired rather than produced by a Credit Party, the acquisition price or co-financing or equity contribution to be paid by such Credit Party for such Item of Product pursuant to the applicable negative pick-up documentation or co-financing documentation), all as reflected in the budget referenced in the applicable Item of Product Declaration (or, in the case of an Item of Product with an Approved Completion Bond, approved in writing by the relevant Approved Completion Guarantor). In the case of an Item of Product for which an Approved Completion Bond has been delivered, the Budgeted Negative Cost shall mean the Bonded Budget of such Picture.
Budgeted Negative Cost means for any item of Product the aggregate amount of the preproduction expenses with regard to such item of Product plus the cost of all production elements usually and customarily included as part of the negative cost of a television program or other item of Product of like cost and quality plus the usual and customary post production costs of such television program or other item of Product, and shall specifically include charges for (x) any completion guaranty fee which is to be paid and (y) any interest whether capitalized or not but shall exclude any producers fees paid to a Debtor and general overhead costs. Preproduction expenses with respect to a Picture or other item of Product shall mean the following costs:
Budgeted Negative Cost means, with respect to any item of Product, the amount of the cash budget (stated in Dollars) for such item of Product including all costs customarily included in connection with the acquisition of all underlying literary and musical rights with respect to such item of Product and in connection with the preparation, production and completion of such item of Product including costs of materials, equipment, physical properties, personnel and services utilized in connection with such item of Product, both "above-the-line" and "below-the-line", any Completion Guaranty fee, and all other items customarily included in negative costs, but excluding a contingency of up to 10%, production fees and overhead charges payable to a Credit Party, finance charges and interest expense.
Budgeted Negative Cost means, with respect to each ---------------------- Declared Qualifying Picture, the amount of the Budget (stated in Dollars) for each Declared Qualifying Picture including all costs customarily included in connection with the acquisition of all underlying literary and musical rights with respect to such Declared Qualifying Picture and in connection with the preparation, production and completion of such Declared Qualifying Picture including costs of materials, equipment, physical properties, personnel and services utilized in connection with such Declared Qualifying Picture, both "above-the-line" and "below-the-line" and all other items customarily included in negative costs, including finance charges and interest expense and other costs of the type contemplated by Actual Negative Cost, but excluding any item of cost that may not be properly included in Actual Negative Cost.
Budgeted Negative Cost means, with respect to any item of Product, the amount of the cash budget (stated in Dollars) for such item of Product including all costs customarily included in connection with the acquisition of all underlying literary and musical rights with respect to such item of Product, and in connection with the preparation, production and Completion of such item of Product, including preproduction expenses, the cost of screenplays prepared for that item of Product and any polishing work done thereon, costs of materials, equipment, physical properties, personnel and services utilized in connection with such item of Product, both "above-the-line" and "below-the-line", and all other items customarily included in negative costs, including finance charges and interest expense, but excluding production fees, general overhead costs and overhead charges payable to a Credit Party.