Security Agreement Legal Forms and Contracts

The following free agreement or contract secures a directors or producers rights and interest in a motion picture, movie or television show. This agreement is pro film maker. This agreement and contract is being provided for information and research purposes only, however it is a valid legal contract and agreement. Always consult an Attorney or Lawyer. This Agreement can apply in most states including California, New York, Florida, Nevada and others. Help improve this agreement by leaving a comment.

SECURITY AGREEMENT

This Security Agreement is made as of the ____________________, by and between ____________________ ("Debtor") and ____________________ ("Secured Party") with reference to the following facts:

A. Debtor and Secured Party have entered into a Distribution Agreement dated as of ____________________, regarding among other things, the assignment by Secured Party to Debtor of certain exclusive rights of distribution and exploitation in the motion picture entitled "____________________" (the "Picture") in designated media and non-exclusive incidental rights necessary to exploit the Picture (collectively such rights are referred to hereinafter as the "Rights"), all as more fully set forth in the Distribution Agreement.

B. The parties desire to secure the right of Secured Party to the Rights upon the terms and conditions of this Security Agreement.

NOW THEREFORE, the parties agree as follows:

1. COLLATERAL: The "Collateral" is any and all of the following:

a. Intangibles: All of the Debtor's right, title and interest in and to the Rights in the Picture as more fully set forth in the Distribution Agreement dated as of ____________________.

b. Tangibles: All of the Debtor's right, title and interest in and to all film elements, videotapes, sound elements, paperwork, and other physical materials of any kind ("Materials") to be used in the exploitation of the Rights in the Picture, and

c. Proceeds: All proceeds, realized by Debtor from exploitation of the Rights or the Materials in the Picture, to which secured Party is entitled under the provisions of the Distribution Agreement.

2. SECURITY INTEREST: In order to induce Secured Party to enter into the Distribution Agreement and to secure Secured Party's right to receive the Producer's Share of Net Proceeds as defined in the Distribution Agreement, Debtor grants and assigns to Secured Party a continuing security interest in the Collateral.

3. RESORT TO SECURITY INTEREST: Secured Party may resort to its Security Interest in the Collateral if, as provided in the Distribution Agreement Debtor fails to pay Secured Party proceeds in the form of Producer's share of Gross Receipts received by Debtor, if any, from the exploitation of the Picture to which Secured Party is entitled.

4. RIGHTS AND REMEDIES OF SECURED PARTY: Secured Party and its assignees will have all the rights and remedies of a secured party under the California Commercial Code as it may be amended from time to time and under applicable law.

5. DEBTOR'S WARRANTIES AND REPRESENTATIONS: Debtor warrants and represents to Secured Party that:

a. Debtor has the right and authority to execute and deliver this Security Agreement;

b. No other security interest has been granted by Debtor in the Collateral which might interfere with or have priority over the Security Interest granted in this Agreement;

c. There are no other agreements or understandings of Debtor which interfere with the rights granted to Secured Party in this Security Agreement or the Distribution Agreement.

6. NOTICES: All notices under this Agreement will be in writing and delivered by regular mail to the following addresses:

TO SECURED PARTY: ____________________

____________________

____________________

A COURTESY COPY TO: ____________________

____________________

____________________

TO DEBTOR: ____________________

____________________

____________________

Each party may change its place for notice by written notice duly given in accordance with the Distribution Agreement.

7. FURTHER ASSURANCES: Each party upon the reasonable request of the other, will execute such other documents as are required to perfect or release the Security Interest, including the attached UCC-1 Financing Statement and Short-Form Security Agreement.

8. GOVERNING LAW: This Security Agreement will be governed by the laws of the State of ____________________.

IN WITNESS WHEREOF, the parties have executed this Security Agreement as of the date first written Above in ____________________, ____________________.

SECURED PARTY

_____________________________
____________________

DEBTOR

_____________________________
____________________

SHORT-FORM SECURITY AGREEMENT

For valuable consideration, receipt of which is acknowledged, ____________________ ("Debtor") grants and assigns to ____________________ ("Secured Party") a continuing Security Interest in and to the "Collateral" described in the following paragraph with regard to the motion picture currently entitled "____________________" upon the terms and conditions to that certain Security Agreement between the parties dated as of the same date as this Short-Form Security Agreement.

The "Collateral" is any and all of the following:

a. Intangibles: All of Debtor's right, title, and interest in and to the Rights in the Picture as more fully set forth in the Distribution Agreement dated as of ____________________.

b. Tangibles: All of Debtor's right, title, and interest in and to all film elements, videotapes, sound elements, paperwork, and other physical materials of any kind ("Materials") to be used in the exploitation of the Rights in the Picture, and

c. Proceeds: All proceeds realized by Debtor from exploitation of the Rights or the Materials in the Picture, to which Secured Party is entitled under the provisions of the Distribution Agreement.

IN WITNESS WHEREOF, the parties have executed this Short-Form Security Agreement as of ____________________, at ____________________, ____________________.

____________________

_____________________________

____________________

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