Book Description
Financing an independent feature film production is a highly complex process. This book demystifies the legal and commercial implications of a film from start to finish. It provides a detailed survey of each of the processes and players involved, and analyses of the legal and commercial issues faced by all of the participants in a film financing transaction. Packed with legal advice and straight forward explanations this is an essential reference for filmmakers worldwide.
With contributions from leading professionals around the world, and an up-to-date international approach, this is an invaluable tool for producers, and others involved in the film industry.
Includes: Case studies, Sample Recoupment Schedules, Alternative Financing Models, Glossary of Film Financing and Banking Terms
Philip Alberstat is a media finance and production lawyer specialising in film, television and broadcasting. He has worked on films such as The 51st State, Goodbye Mr Steadman, Tooth and numerous television programmes and series. He is on the editorial board of Entertainment Law Review and is the author of The Independent Producers Guide to Film and TV Contracts (2000), and Law and the Media (2002).
Philip is involved in raising finance for film and television productions and negotiating and structuring film and television deals. He undertakes corporate and commercial work and handles the intellectual property aspects of broadcasting and finance transactions. He has also executive produced numerous film and television productions. He won an Emmy Award in 2004 as an Executive Producer of the Film, "The Incredible Mrs. Ritchie".
Philip joined Osborne Clarke as a partner in February 2002. Prior to that he was Head of Legal and Business Affairs with one of the largest independent TV production companies in the UK. He was previously Head of Media at Baker & McKenzie and began his career at Olswang. He was winner of the Lawyer/Hifal Award for Solicitor of the year in 1997 and is listed in Legal Experts in the area of Film Finance/Media.
Table of Contents
- Cover
- Half Title
- Dedication
- Full Title
- Copyright
- Contents
- Foreword
- About the Author
- List of Contributors
- Acknowledgements
- A Note From the Author
- Introduction
- 1 Underlying Rights
- Financing Intellectual Property Rights
- The Chain of Title Opinion
- Sample Chain of Title Opinion Letter
- Sample Chain of Title Documents
- Certificate of Authorship
- Short Form Option Agreement
- Short Form Assignment Agreement
- Quit Claim and Notice of Ownership of Copyright and Other Rights
- 2 Co-productions (Alan Harris)
- Introduction
- Official Co-production Treaties
- European Convention
- Co-production Agreement
- 3 Banking the Deal (Rob Sherr)
- Introduction
- Getting to the Term Sheet
- From Term Sheet to Cash Flow Forecast
- From Cash Flow Forecast to Commitment
- Closing Time
- 4 Banking Documents (Lucy Walker and Philip Alberstat)
- Banks and Security Documents — An Introduction
- Registration of Security
- Bank Facility Letter
- Charge and Assignment
- Letter of Credit
- Notice of Assignment and Irrevocable Payment Instruction
- Notes to the Agreement
- Acknowledgement of Notice of Assignment
- Notes to the Agreement
- Laboratory Pledgeholder's Agreement
- 5 The Interparty Agreement
- Introduction
- Sample Agreement
- 6 The Completion Guarantee
- Completion Guarantees
- Application Requirements
- Documentation
- The Guarantee
- Liability of the Completion Guarantor
- Payments under the Guarantee
- Force Majeure
- Abandonment
- Cut Through
- The Completion Agreement
- Completion Guarantors
- How to Find Sample Completion Guarantors Documents
- Completion Bond Letter of Commitment
- Film Finances Sample Completion Guarantee
- Film Finances Sample Completion Agreement
- 7 Collection Agreements
- Collection Agreements
- Sample Agreement
- 8 Recoupment — Net Profits
- Net Profits
- Gross Receipts
- Sample Recoupment Schedule
- 9 Gap Financing
- Criteria for Gap Financing
- Example 1 — Sales Agent Advance Against Sales
- Example 2 — Gap Financing Deal (No Sales Agent Advance)
- Sample Sales Estimates
- 10 Alternative Financing
- Enterprise Investment Schemes (EIS)
- Limited Liability Partnerships
- Sale and Leaseback Transactions
- Sale and Leaseback
- Appendix A: Glossary of Film Production and Finance Terms
- Appendix B: Helpful Websites and Recommended Reading
- Appendix C: Example Errors and Omissions Cover Note
- Index