Special Purpose Producer definition

Special Purpose Producer means a special purpose corporation or limited liability company formed solely for the purpose of producing a particular theatrical motion picture, television series or direct to home video Product which, in each case, will be purchased or distributed by a Credit Party.

Special Purpose Producer means a special purpose corporation or limited liability company formed solely for the purpose of producing a Product or any audio-visual product or live or location-based entertainment which, in each case, will be purchased or distributed in whole or in part by LGEC or any of its Restricted Subsidiaries.

Special Purpose Producer means a special purpose Subsidiary of a Credit Party created solely for the purpose of producing a particular Picture or group of Pictures with production financing which is non-recourse to any Credit Party or any Subsidiary of a Credit Party other than such Special Purpose Producer; provided that if any Special Purpose Producer is part of an Approved Co-Financing Venture Transaction, it shall satisfy the requirements set forth in Schedule 3; provided further, that such Special Purpose Producer shall distribute all of its cash to a Credit Party to the extent not restricted from doing so by its production loan agreement (if any) or any applicable co-financing agreements or agreement with any third party holders of Equity Interests of such Special Purpose Producer; provided further, that if any Special Purpose Producer is created to produce more than one Picture, Summit Distribution, LLC shall be the U.S. Distributor for such Pictures.

Examples of Special Purpose Producer in a sentence

• If the Designated Picture is being produced by a Special Purpose Producer that is not a Credit Party, the Administrative Agent shall have received a fully executed Special Purpose Producer Credit Agreement and all other conditions precedent thereunder shall have been satisfied.

• Fail to cause all theatrical Pictures to be produced and/or distributed directly or indirectly by the Credit Parties during the term of the Facility to be financed hereunder, other than Co-Financed Pictures, co-productions, Foreign Rights Loans, loans against tax credits and other subsidies, production loans to Special Purpose Producers (but the Credit Parties will own, at a minimum, a residual equity interest in any such Picture or Special Purpose Producer) or as set forth in the Services Agreement.

• The Administrative Agent shall have received from the Borrowers a written notice containing the details of the Designated Picture involved and declaring an appropriate portion of the Total Commitments as being reserved as part of the Special Production Tranche for such Designated Picture and specifying whether the Loans to finance the production of such Designated Picture are to be made to the Borrowers or directly to a Special Purpose Producer.

• If the Production Loans for such Designated Picture are to be made directly to the Special Purpose Producer, then the Administrative Agent shall have received notes executed by the Special Purpose Producer for that Designated Picture in form and substance consistent with the Notes, in an aggregate amount equal to the portion of the Total Commitments reserved for such Designated Picture, and to the order of each of the Lenders, in an amount equal to the product of its Percentage and such aggregate amount.

• The Administrative Agent shall have received such additional supporting documentation as it normally requires in connection with single picture financing relating to the Designated Picture (including, but not limited to, corporate documentation for the Special Purpose Producer, chain of title, budget, cash flows, the negative pickup or other payment obligation from a Borrower or a guarantee from a Borrower) in form and substance satisfactory to the Administrative Agent.

• If the Designated Picture is being produced by a Special Purpose Producer that is not a Credit Party, (i) the Administrative Agent shall have received a fully executed Special Purpose Producer Credit Agreement and all other conditions precedent thereunder shall have been satisfied and (ii) an Eligible Pick-Up Party shall have provided a negative pickup commitment or production cash flow commitment (or a combination thereof) with respect to such Designated Picture.

• If the Designated ----------------------------------------- Picture is being produced by a Special Purpose Producer, the Administrative Agent shall have received a fully executed Special Purpose Producer Credit Agreement and all other conditions precedent thereunder shall have been satisfied.

More Definitions of Special Purpose Producer

Special Purpose Producer means a Subsidiary of a Credit Party or other entity jointly owned by a Credit Party constituting a special purpose entity which satisfies the following criteria:

Special Purpose Producer means a Subsidiary formed solely for the purpose of producing content (including films, series, shows or other content) or any audio-visual product or live or location-based entertainment which, in each case, is expected to be purchased or distributed in whole or in part by the Borrower or any of its Restricted Subsidiaries.

Special Purpose Producer means a special purpose corporation or limited liability company formed solely for the purpose of producing a particular theatrical motion picture, television series or direct to home video Product which, in each case, will be purchased or distributed by the Issuer or any of its Restricted Subsidiaries.