Approved Completion Guarantor means a financially sound and reputable completion guarantor approved by the Required Lenders. The Required Lenders hereby pre-approve as a completion guarantor (i) Fireman's Fund Insurance Company, acting through its agent, International Film Guarantors, L.P. (the general partner of which is International Film Guarantors, Inc.), (ii) Film Finances, Inc. and its Affiliates (including Film Finances Canada (1998) Ltd.) that are insured under the same Lloyds of London insurance policies as Film Finances, Inc. (only to the extent the completion guaranty is accompanied by a Lloyds of London "cut-through endorsement"); provided, however, that any such pre-approval may be revoked by the Administrative Agent if deemed appropriate in its sole discretion or if so instructed by the Required Lenders, at any time upon 30 days prior written notice to the Borrowers; but further, provided, that such pre-approval may not be revoked with regard to an item of Product if a Completion Guaranty has already been issued for such item of Product.
Approved Completion Guarantor means a financially sound and reputable completion guarantor approved by the Lender. The Lender hereby pre-approves as a completion guarantor (i) Fireman's Fund Insurance Company, acting through its agent, International Film Guarantors L.P. (the general partner of which is International Film Guarantors, Inc.), (ii) Cinema Completions International Inc./Continental Casualty Company, (iii) The Motion Picture Bond Company Inc. (to the extent a completion guarantee is accompanied by a London Guarantee Insurance Company "cut-through") and (iv) Film Finances, Inc. and its Affiliates that are insured under the same Lloyds of London insurance policies as Film Finances, Inc. (only for items of Product with a Budgeted Negative Cost of $7,500,000 or less and only to the extent the completion guarantee is accompanied by a Lloyd's of London "cut-through"); provided, however, that any such pre-approval may be revoked by the Lender if deemed appropriate in its sole discretion at any time upon 5 days prior written notice to the Borrower; but further, provided, that such pre-approval may not be revoked with regard to an item of Product if a Completion Guarantee has already been issued for such item of Product.
Approved Completion Guarantor means each of (i) Fireman’s Fund Insurance Company, acting through its agent, International Film Guarantors, LLC, (ii) FFI, subject to the receipt and approval by the Administrative Agent of (x) FFI’s current insurance support package for each 12-month period commencing in April of each year and/or other credit support and (y) a Lloyd’s of London “cut through” endorsement providing a right to make claims directly against underwriters having credit quality acceptable to the Administrative Agent, it being acknowledged that the Administrative Agent has approved FFI through April 2012 and (iii) any other completion guarantor acceptable to the Administrative Agent; provided that in each case, the Administrative Agent may from time to time, in its good faith credit judgment, upon thirty (30) days’ prior written notice to the Borrower remove any such Person as an Approved Completion Guarantor and/or establish or reduce exposure limits with respect thereto on a prospective basis with respect to any Picture for which an Approved Completion Bond has not been executed.
Examples of Approved Completion Guarantor in a sentence
The Administrative Agent shall have received a Completion Guaranty from an Approved Completion Guarantor.
Only in the case of Pictures, if such Picture is Uncompleted and a Credit Party is obligated to or otherwise will fund a portion of the Direct Negative Costs prior to Completion (or in the case of an acquired Picture, paying any portion of the purchase price prior to delivery to the Credit Party, other than deposits which do not exceed $750,000 in the aggregate for any Picture), the Administrative Agent shall have received an Approved Completion Bond from an Approved Completion Guarantor.
The Administrative Agent shall have received -------------------- a Completion Guarantee from an Approved Completion Guarantor.
Obtain a Completion Guaranty from an Approved Completion Guarantor on terms and conditions satisfactory to the Agent naming the Agent for the benefit of the Lenders as a beneficiary thereunder to the extent of the Credit Party's financial interest for all Product which a Credit Party is producing or in which a Credit Party has an Investment which is subject to completion risk.
If the Production Exposure for such Designated Picture exceeds U.S.$20,000,000 or if otherwise required by the Administrative Agent in its discretion, the Administrative Agent shall have received a Completion Guaranty from an Approved Completion Guarantor.
More Definitions of Approved Completion Guarantor
Approved Completion Guarantor means a financially sound and reputable completion guarantor approved by the Required Lenders. The Required Lenders hereby pre-approve as an Approved Completion Guarantor (i) Fireman’s Fund Insurance Company, acting through its agent, International Film Guarantors L.P. (the general partner of which is International Film Guarantors, Inc.), (ii) Cinema Completions International Inc./Continental Casualty Company and (iii) Film Finances, Inc. (only to the extent the Completion Guarantee is accompanied by a Lloyd’s of London "cut-through"); provided, however, that (x) any such preapproval with respect to Film Finances, Inc. applies to items of Product for which the cost is less than $40,000,000 and (y) any such pre-approval may be revoked by the Administrative Agent if deemed appropriate in its sole discretion, or if so instructed by the Required Lenders, at any time upon 15 days prior written notice to the Borrower.
Approved Completion Guarantor means a financially sound and reputable completion guarantor approved by the Required Lenders. The Required Lenders hereby pre-approve as a completion guarantor each of (i) Fireman’s Fund Insurance Company, acting through its agent, International Film Guarantors, L.P. (the general partner of which is International Film Guarantors, Inc.) and (ii) Film Finances, Inc. (“FFI”); provided, however, that with respect to FFI, any such pre-approval is conditioned upon the receipt and approval by the Administrative Agent of (x) FFI’s current insurance support package for each 12-month period commencing in April of each year and (y) a Lloyd’s of London “cut through” endorsement providing a right to make claims directly against underwriters having credit quality acceptable to the Required Lenders; provided, further, that each of such pre-approvals may be revoked by the Administrative Agent if deemed appropriate in its reasonable discretion, or if so instructed by the Required Lenders, at any time upon 30 days prior written notice to the Borrower, provided, that no such revocation shall be effective with respect to a Qualifying Picture if the notice of revocation has been received by the Borrower after the execution of an Approved Completion Bond or commitment therefor, which in the case of a commitment shall have been issued no earlier than 30 days prior to commencement of production of such Qualifying Picture.
Approved Completion Guarantor means with respect to a Picture, (i) any Major Studio with regard to any Co-Financed Picture for which such Major Studio has agreed to cash flow its share of production costs, and (ii) a financially sound and reputable completion guarantor approved by the Administrative Agent (it being understood that the Administrative Agent hereby pre-approves Film Finances, Inc. (“FFI”); provided however, that such pre-approval is conditioned upon the receipt and approval by the Administrative Agent of (a) FFI’s current insurance support package for each 12-month period commencing in April of each year and (b) a Lloyd’s of London “cut through” endorsement providing a right to make claims directly against underwriters having credit quality acceptable to the Administrative Agent. Such pre-approval under clause (ii) may be revoked by the Administrative Agent by written notice to the Borrower on a prospective basis with respect to Pictures for which an Approved Completion Bond (or written commitment therefor) has not yet been fully executed.
Approved Completion Guarantor means with respect to an Item of Product, a financially sound and reputable completion guarantor approved by the Senior Facility Agent.
Approved Completion Guarantor means (1) a Person who is an “Approved Completion Guarantor” as defined pursuant to the Senior Credit Facility as in effect on the Issue Date, for so long as such Person is an “Approved Completion Guarantor” as so defined, or (2) a completion guarantor with an Investment Grade Rating.
Approved Completion Guarantor means a financially sound and reputable completion guarantor approved by the Lender in its sole discretion, which approval shall extend initially to (a) Fireman's Fund Insurance Company, acting through its agent, International Film Guarantors L.P. (the general partner of which is International Film Guarantors, Inc.), (b) Cinema Completions International Inc./Continental Casualty Company, (c) The Motion Picture Bond Company Inc. (to the extent a completion guarantee is accompanied by a London Guarantee Insurance Company "cut-through") and (d) Film Finances, Inc. and its Affiliates that are insured under the same Lloyds of London insurance policies as Film Finances, Inc. (only for items of Product with a Budgeted Negative Cost of $7,500,000 or less and only to the extent the completion guarantee is accompanied by a Lloyd's of London "cut-through"); provided, however, such pre-approval may be revoked by the Lender at any time in its sole discretion on sixty (60) days prior notice to a Credit Party, but provided further that such pre-approval may not be revoked with respect to a Completion Guaranty issued on or prior to the expiration of such sixty (60) day period.
Approved Completion Guarantor means a financially sound and ----------------------------- reputable completion guarantor approved by the Required Lenders. The Required Lenders hereby pre-approve as a completion guarantor (i) The Motion Picture Bond Company Inc. (to the extent a completion guarantee is accompanied by a London Guarantee Insurance Company "cut-through" or "loss payee endorsement") but only if the aggregate Production Exposure for all items of Product covered by Completion Guarantees issued by The Motion Picture Bond Company, Inc. which have not yet been completed does not exceed $5,000,000, (ii) Fireman's Fund Insurance Company, acting through its agent, International Film Guarantors L.P. (the general partner of which is International Film Guarantors, Inc.), (iii) Cinema Completions International Inc./Continental Casualty Company and (iv) Film Finances, Inc. and its Affiliates (including Film Finances Canada 1984 Limited) that are insured under the same Lloyds of London insurance policies as Film Finances, Inc. (only to the extent the completion guarantee is accompanied by a Lloyd's of London "cut-through"); provided, however, that any such pre-approval -------- ------- may be revoked by the Administrative Agent if deemed appropriate in its sole discretion or if so instructed by the Required Lenders, at any time upon 15 days prior written notice to the Borrower; but further, provided, that such pre- ------- -------- approval may not be revoked with regard to an item of Product if a Completion Guarantee or a commitment for the provision thereof has already been issued for such item of Product which, in the case of a commitment, such commitment was issued no more than thirty (30) days before the commencement of principal photography.