operating partnership agreement means the amended and restated agreement of limited partnership of the operating partnership, as it may be amended, supplemented or restated from time to time. borrower partnership agreement means the eighth amended and restated limited partnership agreement of the borrower, dated as of may 8, 2008, as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the administrative agent or as permitted under section 10.10. partnership agreement means each partnership agreement governing a partnership, as each such agreement has heretofore been, and may hereafter be, amended, restated, supplemented or otherwise modified. holdings llc agreement means the third amended and restated limited liability company agreement of holdings, dated on or about the date hereof, as such agreement may be amended from time to time.

rights purchase agreements and screenplay option agreements, writer “work for hire” or collaboration agreements and co-production agreements are among the many types of contracts necessary to engage talented individuals to develop a script for production. the investor, on the other hand, will try to negotiate so as to protect his investment and allow for continuity in the event that new creative teams or members need to be brought in for the benefit of the project. one major risk that must be disclosed is the risk of failure to obtain distribution and to recoup negative costs. generally, these agreements are known as “assignments of rights” and often include the sale of “the sole and exclusive motion picture, television, photograph record, merchandising and commercial rights and all allied and ancillary rights, throughout the universe, in perpetuity.” put simply, a rights purchase agreement provides for the purchase of all rights associated with a motion picture, not just the rights to purchase the script. an option agreement is a contractual agreement in which a producer buys the right to purchase a screenplay from a writer or other owner.