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“U.S. Video Film Rights” to 50 film titles for “$0.50 and other
good and valuable consideration.”40 According to this document,
EBD made no express or implied warranties or representations with
respect to these assets.
According to a fourth document entitled “Assignment”, dated
as of December 10, 1996, EBD, on behalf of itself and its
subsidiaries, Alpha, Epsilon, and Epic Pictures (collectively
“the EBD group”), assigned and transferred to CLIS the “U.S.
Video Film Rights” to 65 film titles (the EBD film rights) and 26
development projects (collectively “the EBD film library”) for
“$1 and other good and valuable consideration”.41
According to a fifth document entitled “Resolutions of
Credit Lyonnais International Services”, effective December 10,
1996, CLIS assigned, transferred, and contributed all its rights
and interests in the EBD film library to the capital of SMHC.
5. Storage Conditions of the EBD Film Library
In 1996, many of the films in the EBD film library were
stored at “the Epic warehouse”, which Epic Productions owned.
The Epic warehouse was a metal shell building, about 30,000
square feet, located near the airport in Burbank, California,
40 The assignment, including its attached schedule, did not
define the term “U.S. Video Film Rights”; it identified the films
only by titles.
41 The assignment, including its attached schedule, did not
define the term “U.S. Video Film Rights”; it identified the films
only by titles.
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