| Commentary

325 Takeover, default and abandonment

| Commentary

325 Takeover, default and abandonment

On occasions where a producer commits an act of default, the company will have the right to take over production of the film and on the exercise of its take over rights can normally choose either to complete the film or abandon it. In practice, the company’s rights are frequently subject to those of the completion guarantor1 and will normally be exercisable by the completion guarantor.

The events entitling the company (or completion guarantor) to take over or suspend the production of the film or declare abandonment include running over budget, falling behind the production schedule,

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial