We have a client who has a "music recording" contract with a small independent label. Their is a loan being made by a 3rd party, and the lender wants the music contract of the artists as collateral from the label. As well any of their options, publishing rights etc. So we simply need a contract assignment, pledge from label to lender on the contract.
If the label defaults on repayment of the balloon note, all rights, interests, etc transfer ownership to Lender immediately with no further recourse or action.
The label is a US based Limited Liability Company
Please bid for the following:
- Drafting a contract assignment pledge loan for a music label for small business loan