Collateral Assignment of Lease Agreement between DC Westfield Cinema, LLC and Northlight Trust I

Summary

DC Westfield Cinema, LLC has assigned its rights and interests in a lease agreement with Rialto Holding Co., LLC to Northlight Trust I as collateral for a loan. This means that if DC Westfield Cinema, LLC fails to meet its loan obligations, Northlight Trust I may claim the lease rights. The agreement is dated September 27, 2012, and serves as security for a loan involving DC Westfield Cinema, LLC, its affiliates, and its parent company, Digital Cinema Destinations Corp.

EX-10.24 10 e610115_ex10-24.htm Unassociated Document

Exhibit 10.24

Prepared by and after recording return to:

Harlan W. Robins, Esq.

Dickinson Wright PLLC

15 N. 4th Street

Columbus, Ohio 43215

COLLATERAL ASSIGNMENT OF LEASE

FOR VALUE RECEIVED, the undersigned, DC Westfield Cinema, LLC, a Delaware limited liability company, as Borrower, does hereby transfer, sell, assign, set over and convey unto Northlight Trust I, a Delaware statutory trust, as Lender, all of its right, title and interest in and to that certain Lease Agreement more particularly described on the attached Exhibit A, as collateral security for Borrower’s obligations to Lender under that certain Loan Agreement between Borrower and certain of its affiliates, and Borrower’s parent, Digital Cinema Destinations Corp., a Delaware corporation, of even date herewith (the “Loan”).

TOGETHER WITH all rights, title and interest in and to said Lease Agreement, as “tenant/lessee” therein, as additional collateral security for the Loan.

DATED this 27th day of September, 2012.

	DC Westfield Cinema, LLC, a Delaware limited liability company

	By:	/s/ A. Dale Mayo

	Name:	A. Dale Mayo

	Title:	Manager

STATE OF NEW JERSEY		)
		) ss.
COUNTY OF UNION		)

This instrument was acknowledged before me on September 27, 2012, by A. Dale Mayo, the Manager of DC Westfield Cinema, LLC, a Delaware limited liability company.


		/s/ /s/ Gary S. Loffredo
		Notary Public

[SEAL]