Common use of Chain of Title Clause in Contracts

Chain of Title. The Administrative Agent shall have received copies of all agreements, instruments of transfer or other instruments (in recordable form) (including, without limitation, the rights agreements) necessary to establish, to the satisfaction of the Administrative Agent, with respect to a sufficient number of items of Product included in the Borrowing Base as determined in the Administrative Agent's sole discretion, the applicable Credit Party's ownership of sufficient copyright rights in each Completed item of Product and in the literary properties upon which each Uncompleted item of Product is to be based to enable such Credit Party to produce and/or distribute such item of Product and to grant to the Administrative Agent for the benefit of the Lenders the security interests which are contemplated by this Credit Agreement.

Chain of Title. The Administrative Agent shall have received copies of all agreements, instruments of transfer or other instruments (in recordable form) (including, without limitation, the rights agreements) necessary to establish, to the satisfaction of the Administrative Agent, with respect to a sufficient number of items of Product included in the Borrowing Base as determined in the Administrative Agent's ’s sole discretion, the applicable Credit Party's ’s ownership of sufficient copyright rights in each Completed item of Product and in the literary properties upon which each Uncompleted item of Product is to be based to enable such Credit Party to produce and/or distribute such item of Product and to grant to the Administrative Agent for the benefit of the Group Lenders the security interests which are contemplated by this Credit Agreement.