Kelley Drye Represented AccessIT Subsidiary in Secured Credit Facility
September 1, 2006
Kelley Drye represented Access Integrated Technology's subsidiary, Christie/AIX, Inc., in obtaining a $217 million secured credit facility from a group of institutional lenders led by General Electric Capital Corporation. The proceeds of the credit facility are being used to fund primarily the costs of acquiring and installing approximately 4,000 digital cinema systems in movie theater locations throughout the country for which Christie/AIX and theater owners have executed master license agreements. Christie/AIX has also entered into agreements with virtually all of the major U.S. movie distributors for the distribution of feature motion pictures by digital means. AccessIT provides fully integrated software and services to enable the motion picture entertainment industry to transition from film to digital cinema.