SEC Contract Filing

Filing Date: 2020-08-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>seas-ex105_181.htm
<DESCRIPTION>EX-10.5
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<title>
seas-ex105_181.htm
</title>
</head>
<!-- NG Converter v5.0.2.50 -->
<body>

<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Exhibit 10.5</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Execution Version</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;margin-left:0.77%;text-indent:0%;font-weight:bold;color:#000000;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">COPYRIGHT SECURITY AGREEMENT</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Copyright Security Agreement<font style="font-weight:normal;">,</font> <font style="font-weight:normal;">dated as of August 5, 2020, by SeaWorld Parks &amp; Entertainment, Inc., a Delaware corporation, Sea World LLC, a Delaware limited liability company and SeaWorld Parks &amp; Entertainment LLC, a Delaware limited liability company (each, a &#8220;</font>Grantor<font style="font-weight:normal;">&#8221; and collectively, the &#8220;</font>Grantors<font style="font-weight:normal;">&#8221;), in favor of Wilmington Trust, National Association, in its capacity as collateral agent pursuant to the Indenture (in such capacity, the &#8220;</font>Collateral Agent<font style="font-weight:normal;">&#8221;).</font></p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;margin-left:0.77%;text-indent:0%;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">WITNESSETH</font>:</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Grantors are party to a Second Lien Security Agreement dated as of August 5, 2020 (as amended, amended and restated, supplemented or otherwise modified from time to time, the &#8220;<font style="font-weight:bold;">Security Agreement</font>&#8221;) in favor of the Collateral Agent pursuant to which the Grantors are required to execute and deliver this Copyright Security Agreement;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the benefit of the Secured Parties, to enter into the Indenture, each Grantor hereby agrees with the Collateral Agent as follows:</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Toc37153508"></a><a name="_Toc37154127"></a>SECTION 1.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Defined Terms</font>.&nbsp;&nbsp;Unless otherwise defined herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Toc37153509"></a><a name="_Toc37154128"></a>SECTION 2.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Grant of Security Interest in Copyright Collateral</font>.&nbsp;&nbsp;Each Grantor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Article 9 Collateral (excluding any Excluded Assets) of such Grantor:</p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;">Copyrights </font>and exclusive Copyright Licenses of the Grantor, including, without limitation, those listed on <font style="text-decoration:underline;">Schedule I</font> attached hereto (hereinafter, the &#8220;Copyright Collateral&#8221;).</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Toc37153510"></a><a name="_Toc37154129"></a>SECTION 3.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">The Security Agreement</font>.&nbsp;&nbsp;The security interest granted pursuant to this Copyright Security Agreement is granted in conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement and each Grantor hereby acknowledges and affirms that the rights and remedies of the Collateral Agent with respect to the security interest in the Copyright Collateral made and granted hereby are more fully set forth in the Security Agreement.&nbsp;&nbsp;In the event that any provision of this Copyright Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control unless the Collateral Agent shall otherwise determine.</p>
<p style="margin-bottom:12pt;m