PERCY PRODUCTIONS (SEED) LIMITED

Collateral in relation to the feature film "the seed".

Collateral in relation to the feature film "the seed".

The company (to the extent of its right, title and interest) as a continuing security, subject to (I) the terms of the ipa; and (ii) the rights and prior security (but only insofar as the company owns such rights) and other interests of the producer under the producer agreements (and security agreements entered in favour of the producer in relation to the film) and lipsync under the funding agreement and the collection agreement:-. 5.1 charges absolutely to the guarantor all present and future rights, title and interest of the company of and in the film and in the screenplay and all other written and musical matter embodied or to be embodied or used in the film or acquired in connection with its production and the negative and prints thereof and all rights of representing, exploiting and exhibiting the same.. Negative pledge. Subject always to the rights of lipsync and the producer (including those set out in the ipa), the company:. 6.1 shall not create, grant or permit to subsist any mortgage, security interest or charge, whether fixed or floating (other than any created by or pursuant to the producer security agreements, the funding agreement and as permitted under the terms of the ipa) on or over all or any part of the charged property, whether ranking in priority to, behind or pari passu with the security hereby created.