First Amendment to the Credit Agreement



 Exhibit 10.50 
 FIRST AMENDMENT, dated as of February 23, 2007 (this “Amendment”), to the CREDIT AGREEMENT, dated as of October 27, 2004 (the “Credit Agreement”), among DREAMWORKS ANIMATION
SKG, INC., a Delaware corporation (“DW Animation”), the several banks and other financial institutions from time to time parties to the Credit Agreement, certain other parties and JPMORGAN CHASE BANK, N.A., as Administrative Agent
(in such capacity, the “Administrative Agent”). Terms defined in the Credit Agreement shall be used in this Amendment with their defined meanings unless otherwise defined herein. 
 WITNESSETH: 
 WHEREAS, DW Animation
has requested that the Lenders enter into this Amendment; and 
 WHEREAS, each of the parties hereto is willing to enter into this Amendment
on the terms and subject to the conditions set forth herein; 
 NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 I.
AMENDMENT TO CREDIT AGREEMENT. 
 1. Amendment to Section 7.4. Section 7.4 of the Credit Agreement is hereby amended by
(i) adding the parenthetical “(collectively, “Restricted Payments”)” immediately before “, provided” and (ii) adding the following clause (c) to the end thereof: 
 “and (c) to make other Restricted Payments so long as, after giving pro forma effect thereto, the sum of (i) the excess, if any, of
(x) the lesser of (1) Borrowing Availability (determined without giving effect to clause (d) of the definition thereof) and (2) the aggregate Commitments over (y) Facility Exposure and (ii) DW Animation’s
aggregate unencumbered (other than pursuant to Liens under the Loan Documents) cash on hand equals at least $400,000,000”. 
 II.
MISCELLANEOUS. 
 1. No Change. Except as expressly provided herein, no term or provision of the Credit Agreement shall be amended,
modified or supplemented, and each term and provision of the Credit Agreement shall remain in full force and effect. 
 2.
Effectiveness. This Amendment shall become effective upon receipt by the Administrative Agent of (a) counterparts hereof duly executed by DW Animation and the Required Lenders and (b) a consent fee payable by DW Animation to each
Lender consenting to this Amendment by 5:00 P.M., New York time, on February 22, 2007, in an amount equal to 0.025% of such Lender’s Commitment. 
 3. Counterparts. This Amendment may be executed by the parties hereto in any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same
instrument. 







 4. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER
THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 







 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

			
	DREAMWORKS ANIMATION SKG, INC.
		
	By:	 	 /s/ Kristina M. Leslie

	Name:	 	Kristina M. Leslie
	Title:	 	Chief Financial Officer










			
	JPMORGAN CHASE BANK, N.A.,
	as Administrative Agent and as a Lender
		
	By:	 	 /s/ Clark Hallren

	Name:	 	Clark Hallren
	Title:	 	Managing Director