What is the amount of “Bank Gap” or Subordinated Debt required to finance the following feature film?
irpsbqaoe27Gross Production Budget $16,000,000
Production Deferments for ATL Crew & Vendors$ 500,000
Minimum Guarantee Pre-Licensing Agreements:
Primary Territories $7,000,000
Secondary Territories $4,000,000 $11,000,000 (subtotal)
(Note: Senior Lender will advance 90% for primary and 50% for secondary territories; deposits on licensing agreements are equal to 20% of gross M.G. licensing amounts)
Estimated State Tax Incentive (22% of qualified budget expenditures of $12,000,000)
(Note: Senior Lender will advance 85% of Estimated State Tax Incentive)
Estimated Unsold Foreign Territorial Amounts (Ask: $7,000,000 / Takes $5,000,000)
Equity Investment (Equity Premium 20%); $4,000,000
Profit Participation 50% of Net Proceeds)
*Note: the limit for “bank gap”
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