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Exhibit 10.57
COPYRIGHT COLLATERAL ASSIGNMENT
AND SECURITY AGREEMENT
THIS
AGREEMENT ("Agreement"), dated January 26, 2004, is by and
between AEGIS COMMUNICATIONS GROUP, INC., a corporation with
its chief executive office at 7880 Bent Branch Drive, Suite 150,
Irving, Texas 75063 ("Parent"), and each of Parent's subsidiaries
identified on the signature pages hereof (such subsidiaries,
together with Parent, hereinafter referred to individually as a
"Debtor" and individually and collectively, jointly and severally,
as "Debtors") and WELLS FARGO FOOTHILL, INC., a California
corporation, as the arranger and administrative agent for the
Lenders (as defined below), having an office at One Boston Place,
18th Floor, Boston, Massachusetts 02108 (in such capacity, "Secured
Party").
W I T N E S S E T H:
WHEREAS,
each Debtor has adopted, used and is using, and is the owner of the
entire right, title, and interest in and to the copyrights
described below its name in Schedule A hereto and made
a part hereof; and
WHEREAS,
Secured Party, Lenders (as defined below) and Debtors have entered
or are about to enter into financing arrangements pursuant to which
Lenders may make loans and advances and provide other financial
accommodations to Debtors as set forth in the Loan and Security
Agreement, dated on or about the date hereof, by and by and among
Secured Party, the financial institutions from time to time party
thereto as lenders ("Lenders") and Debtors (as the same now exists
or may hereafter be amended, modified, supplemented, extended,
renewed, restated or replaced, the "Loan Agreement") and other
agreements, documents and instruments referred to therein or at any
time executed and/or delivered in connection therewith or related
thereto, including, but not limited to, this Agreement (all of the
foregoing, together with the Loan Agreement, as the same now exist
or may hereafter be amended, modified, supplemented, extended,
renewed, restated or replaced, being collectively referred to
herein as the "Loan Documents"); and
WHEREAS,
in order to induce Lenders and Secured Party to enter into the Loan
Agreement and the other Loan Documents and to make loans and
advances and provide other financial accommodations to Debtors
pursuant thereto, Debtors have agreed to grant to Secured Party
certain collateral security as set forth herein;
NOW,
THEREFORE, in consideration of the premises and for other good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, each Debtor hereby agrees as
follows:
1.
GRANT OF SECURITY INTEREST
As
collateral security for the prompt performance, observance and
indefeasible payment in full of all of the Obligations (as
hereinafter defined), each Debtor hereby grants to Secured Party a
continuing security interest in and a general lien upon, and a
conditional assignment of, the following (being collectively
referred to herein as the "Collateral"): (a) all of such
Debtor's now existing or hereafter acquired right, title, and
interest in and to all of such Debtor's copyrights and all
applications, registrations and recordings relating to such
copyrights as may at any time be filed in the United States
Copyright Office or in any similar office or agency of the United
States, any State thereof, any political subdivision thereof or in
any other country to the extent permitted under applicable law,
including, without limitation, the copyrights and applications,
registrations and recordings described below such Debtor's name in
Schedule A hereto, together with all rights and
privileges arising under applicable law with respect to such
Debtor's use of any copyrights, and all reissues, extensions,
continuations and renewals thereof (all of the foregoing being
collectively referred to herein as the "Copyrights"); (b) all
present and future license and distribution agreements pertaining
to the Copyrights; (c) all income, fees, royalties and other
payments at any time due or payable with respect thereto,
including, without
limitation, payments under all
licenses at any time entered into in connection therewith;
(d) the right to sue for past, present and future
infringements thereof; (e) all rights corresponding thereto
throughout the world; and (f) any and all other proceeds of
any of the foregoing, including, without limitation, damages and
payments or claims by such Debtor against third parties for past or
future infringement of the Copyrights.
2.
OBLIGATIONS SECURED
The
security interest, lien and other interests granted to Secured
Party pursuant to this Agreement shall secure the prompt
performance, observance and payment in full of any and all
obligations, liabilities and indebtedness of every kind, nature and
description owing by Debtors to Lenders and Secured Party and/or
their affiliates, including principal, interest, charges, fees,
costs and expenses, however evidenced, whether as principal,
surety, endorser, guarantor or otherwise, arising under this
Agreement, the Loan Agreement, or any of the other Loan Documents
or the "Bank Product Agreements" (as defined in the Loan
Agreement), whether now existing or hereafter arising, whether
arising before, during or after the initial or any renewal term of
the Loan Agreement or after the commencement of any case with
respect to any Debtor under the United States Bankruptcy Code or
any similar statute (including, without limitation, the payment of
interest and other amounts which would accrue and become due but
for the commencement of such case), whether direct or indirect,
absolute or contingent, joint or several, due or not due, primary
or secondary, liquidated or unliquidated, secured or unsecured, and
however acquired by Lenders or Secured Party (all of the foregoing
being collectively referred to herein as the "Obligations"). As
long as Debtors are not in Default under the Loan Agreement,
Secured Party hereby grants Debtors a fully paid-up exclusive
license under all Copyrights identified as Collateral herein, and
notwithstanding the above paragraph, such exclusive license
includes: (a) all present and future license and distribution
agreements pertaining to the Copyrights, (b) the right to all
income, fees, royalties, and other payments or proceeds at any time
due or payable with respect thereto, (c) the right to sue for
past, present and future infringement of the Copyrights, and
(d) any and all other proceeds of any of the foregoing,
including without limitation, damages and payments or claims by any
Debtor against third parties for past or future infringement of the
Copyrights.
3.
REPRESENTATIONS, WARRANTIES AND
COVENANTS
Each
Debtor hereby represents, warrants and covenants with and to
Secured Party the following (all of such representations,
warranties and covenants being continuing so long as any of the
Obligations are outstanding):
(a) Such
Debtor shall pay and perform all of the Obligations according to
their terms.
(b) All
of the existing Collateral is in full force and effect, and such
Debtor owns the sole, full and clear title thereto, and the right
and power to grant the security interest and conditional assignment
granted hereunder. Debtors shall, at Debtors' joint and several
expense, perform all acts and execute all documents necessary to
maintain the existence of the Collateral consisting of registered
Copyrights as registered copyrights, including, without limitation,
the filing of any renewal affidavits and applications. The
Collateral is not subject to any liens, claims, mortgages,
assignments, licenses, security interests or encumbrances of any
nature whatsoever, except: (i) the security interests granted
hereunder and pursuant to the Loan Agreement, (ii) the
security interests permitted under the Loan Agreement, and
(iii) the licenses permitted under Section 3(e)
below.
(c) Debtors
shall not assign, sell, mortgage, lease, tra